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US FAA says Boeing 737 MAX production audit found compliance issues
The audit was prompted by a Jan. 5 mid-air emergency involving a...
War risk insurance premium through Red Sea remained stable despite the sinking of the cargo ship
Insurance industry sources said that war risk premiums being quoted...
S.African court dismisses insurer Guardrisk’s appeal in COVID-19 claims case
In South Africa, insurers argue that national lockdowns to stem the virus’ spread, forcing firms across many industries to shutter for weeks at a time, were not covered under their business interruption policies.
Canada records 20-year high in outbound insurance M&A
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.
That places Canadian investors as the third biggest investors in insurance deals, behind the UK and the United States, according to the data. Last year, Canadian investors were the fifth largest in the space.
Japan Post insurer plans $2.9 billion buyback from parent
Japan Post Insurance is currently governed by a strict privatization law, which limits activities such as sales of new products, as well as mergers and acquisitions. Such restrictions will be eased if the holding company’s stake drops to 50% or less.
Insurers, drugmakers sail into unknown with COVID vaccine rollout
Prices for new contracts in the transport insurance market were climbing sharply even before the pandemic following rising claims and reduced competition, and industry sources expect insurance rates to jump when pharma companies involved in COVID-19 vaccines renew their annual policies next year, given the additional risk
Some vaccine doses kept too cold, Pfizer having manufacturing issues, U.S. officials say
Officials are investigating whether storing the vaccines at excessively cold temperatures poses a safety or efficacy risk, he said.
UN head stresses need of virus vaccine for all nations
Across the globe we have seen how populist approaches that ignore science have misled the public,” Guterres said. “Coupled with false news and wild conspiracies, things have become manifestly worse.”
Philips buys American cardiac care company BioTelemetry in $2.8 billion deal
Once a sprawling conglomerate, Philips has become purely focused on healthcare after spinning off its lighting and consumer electronics divisions in recent years.
“The acquisition of BioTelemetry fits perfectly with our strategy to be a leading provider of patient care management solutions for the hospital and the home”, Philips Chief Executive Frans van Houten said.
Cyber technology shares soar as security attacks pile up
“This news increases the awareness in regards to the federal government’s susceptibility to cyber attacks from Russia and other foreign entities,” said Daniel Morgan, portfolio manager at Synovus Trust in Atlanta.
Morgan added that technology security companies are “all perceived to benefit from an increase in spending and awareness” he expects will happen as the U.S. government looks to prevent future hacks.
US nuclear weapons agency hacked in massive cybersecurity breach
The attack on Department of Energy has affirmed that the hackers were able to access the networks of the US national security enterprise.
The hackers are believed to have gained access to the federal agencies’ networks by compromising the software company SolarWinds, which sells IT management products to hundreds of governments and private-sector clients, POLITICO opined.
Hack against US is ‘grave threat’, cybersecurity agency says
The Cybersecurity and Infrastructure Security Agency said in its most detailed comments yet that the intrusion had compromised federal agencies as well as critical infrastructure in a sophisticated attack that was hard to detect and will be difficult to undo
This threat actor has demonstrated sophistication and complex tradecraft in these intrusions, the agency said in its unusual alert. CISA expects that removing the threat actor from compromised environments will be highly complex and challenging.