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Tesla settles case over fatal Autopilot crash of Apple engineer
The settlement was made on the eve of the trial over the...
Attacks on Zaporizhzhia nuclear plant significantly increase accident risk, IAEA head says
In a statement on the social media platform X, Rafael Mariano...
S. African insurers may fund vaccines for broader population
Legislation has been amended to allow the companies to fund shots for people who don’t have medical insurance and talks are now focused on the number of those who may benefit, said Stavros Nicolaou, head of the Health Workgroup for B4SA, a grouping of South Africa’s biggest business organizations. In addition to medical insurers, companies such as miners may contribute funds so their workers can be covered, he said.
Insurer Centene to buy Magellan in $2.2 billion mental health push
The move by Centene to expand mental health support comes as more than two out of five Americans are struggling with mental or behavioral health issues associated with the pandemic, the company said.
“I was thinking about it long before the pandemic, the pandemic just emphasized it,” said Centene Chairman, President and Chief Executive Michael Neidorff.
Centene’s patients, after being diagnosed with a serious illness, such as cancer, would benefit from having increased access to mental health care, Neidorff added.
Brazil’s Braskem settles lawsuits over sinking city for $1.75 bln
A federal study found that Braskem’s salt mines were the cause of cracks that destabilized homes, although Braskem had previously said that the study is flawed. The damages have affected more than 9,000 homes and some 17,000 residents must be relocated.
World risks ‘moral catastrophe’ if COVID shots delayed in Africa, its CDC chief says
Cases of the new coronavirus increased by nearly 19% since last week and deaths increased by 26%, according to Africa CDC data. Africa has recorded 2.7 million coronavirus infections and 64,000 deaths as of Thursday, it says.
South Africa, where a new variant of the virus has been detected, recorded 82,000 cases in the past week, he said.
MS Amlin Underwriting launches Phoenix 1 Re Pte,first locally issued ILS to focus solely on APAC region
Phoenix 1 Re Pte. Ltd. is the landmark first locally issued ILS to provide capacity to a local cedant, solely focused on the Pan-Asia region.
Will Ho, CEO, MS AAP said: “ Through the creation of a remote risk facility, which caters to regional business, MS AAP will now be able to leverage larger capacity that we can deploy to our core clients on their reinsurance programmes as demand and growth increases in Asia. Phoenix 1 Re is an important long-term strategic initiative for MS AAP as we continue to seek ways to build capacity and relationships with capital market partners.”
A COVID-19 shot for $150? Online scams surge as slow vaccine rollout frustrates
Scams include emails promising entry to supposedly secret lists for early vaccine access and robocallers impersonating government agencies. Message boards on the so-called dark web have added COVID-19 vaccines to more traditional illicit goods for sale.
Jack Ma’s disappearing act fuels speculation about billionaire’s whereabouts
China’s highest-profile entrepreneur has not appeared in a public setting since a late October forum in Shanghai where he blasted China’s regulatory system in a speech that put him on a collision course with officials, resulting in the suspension of a $37 billion IPO of Alibaba’s Ant Group fintech arm.
BMS launches ASIA operations
“We will look to expand out from M&A insurance into additional specialisms, extending our existing areas of expertise into other sectors, potentially including reinsurance, renewable energy, marine, and capital markets. We hope our ambition and entrepreneurial culture will continue to attract the very best talent in the market,”said Nick Cook, CEO of BMS Group
Global Covid-19 cases surpass 85 million mark: Johns Hopkins University
The US is the worst-hit country with the world’s highest number of cases and deaths at 20,626,686 and 351,453, respectively, according to the CSSE.
India comes in second place in terms of cases at 10,323,965, while the country’s death toll soared to 149,435.
Brazil currently accounts for the second highest number of fatalities at 196,018.
1 Jan renewals:Reinsurers arrest downward pricing, say no to ongoing Contagious Disease exposures
Improving investment markets, retained earnings and newly raised capital helped global reinsurance capital levels to recover rapidly during 2020, ending the year 3% higher than at year-end 2019.
For buyers, terms and conditions have overall been less onerous than initially feared again revealing the efficient working of the global reinsurance market,
Emerging COVID-19 losses, often advised only late in the renewal process or yet to be advised, triggered technical discussions of primary policy coverage and reinsurance treaty wordings.
Both remain in the early stages of deliberation, so, sensibly, most programmes renewed without considering any potential COVID-19 losses, leaving time for more measured discussions and subsequent adjustments.