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Cargo owners may bear portion of damages from Baltimore Bridge disaster
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Clean up begins after at least one dead in heavy UAE rain, floods
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Biden launches ”100 days mask challenge”; makes COVID-19 test, quarantine mandatory for people entering US
The death toll will likely top 5,00,000 next month, he said, adding that the cases will continue to mount.
“Our national plan launches a full-scale wartime effort to address the supply shortages by ramping up production and protective equipment, syringes, needles, you name it. And when I say wartime, people look at me like wartime? Well, as I said last night, 4,00,000 Americans have died. That”s more than World War II… this is a wartime undertaking,” he said.
Liability insurance industry in Asia-Pacific to reach $33.4bn in 2023,says GlobalData
Manisha Varma, Insurance Analyst at GlobalData, comments: “The demand for D&O policies is driven by increasing risks from environmental, product recall and libelous claims. Increasing number of cybercrimes has driven the demand for cyber-insurance.”
WHO expects 100 million global Covid-19 cases by January end
The WHO chief also stressed that vaccines complement rather than replace fundamental public health measures that individuals, communities and governments must take to stop the spread of Covid-19, which is especially important in the face of rapidly-spreading variants.
“Reputational risks could result in potentially crippling business outcomes” :Willis Towers Watson Survey
Scott Burnett, Head of Corporate Risk & Broking Asia and Head of Asia, Willis Towers Watson, said “Loss of income and reduced customer bases are usually the main issues that businesses face following reputational damage. However, the impact of reputational damage can be felt across a business, from recruitment and retention of talent to lower environmental, social and governance (ESG) score, investor activism and increased industry litigation. Reputational risk is therefore increasingly of concern to our clients with most Risk Mangers now having some responsibility for risk mitigation in this area.
Insurance firm offers mental health support as UK flood risk surges
“With five million people in England at risk of flooding, and climate change intensifying the frequency and severity of extreme weather, a mental health crisis is looming,” warned David Nichols, Zurich UK’s chief claims officer.
HSBC, Maybank’s Insurance Venture among bidders for AXA Singapore
Chief Executive Officer Thomas Buberl is trying to shift AXA’s focus on property and casualty insurance following its $15.3 billion purchase of XL Group Ltd. in 2018. Since then, the CEO has been reviewing options for smaller businesses across the world, including in the Middle East, to help pay for the XL deal.
U.S. agency orders Ford to recall 3 million vehicles over air bags
The defect, which leads in rare instances to air bag inflators rupturing and sending potentially deadly metal fragments flying – especially after long-term exposure to high humidity – prompted the largest automotive recall in U.S. history of more than 67 million inflators. Worldwide, about 100 million inflators installed by 19 major automakers have been recalled.
California COVID-19 benefits fraud could reach $9.8 billion
The state has acknowledged that the department was bilked out of hundreds of millions of dollars in COVID-19 unemployment funds that went to fraudsters, including some in the name of U.S. Sen. Dianne Feinstein. Others were sent to inmates in jails and prisons, including some on California’s death row.
Massachusetts Governor vetoes sweeping climate change Bill
A highlight of the bill is the goal of attaining a net-zero greenhouse gas emission limit by 2050 in part by setting new statewide limits every five years to help the state reach the goal.
The bill would also increase requirements for purchasing offshore wind energy and write into state law the criteria used to define “environmental justice populations” – communities with lower incomes, larger numbers of non-English speaking adults, or with a nonwhite population of 25% or more.
European satellites could help catch the next climate change disaster
The new climate models also have the potential to help investors make better decisions. Storms, fires and floods killed at least 8,200 people and cost the world $210 billion in insured losses in 2020, according to a report published this month by Munich Re. Those damages could swell as the world inches closer to crossing the 1.5 degree Celsius warming threshold that scientists predict will lead to more frequent superstorms and higher sea levels.