IMF spokesperson Julie Kozack told a news briefing that the global...
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US SEC approves bitcoin ETFs in watershed for crypto market
Standard Chartered analysts this week said the ETFs could draw $50...
U.S. SEC account hack renews spotlight on X’s security concerns
Accounts on X, formerly known as Twitter, can be hijacked by...
U.N. chief urges development banks to stop financing fossil fuel projects
United Nations Secretary-General Antonio Guterres urged a virtual meeting of a coalition of finance ministers and economic policymakers from dozens of countries to ensure development banks phase out fossil fuel investments, rapidly scale up support for renewable energy, and back projects to help those most exposed to the impacts of climate change.
Enforcement against foreign bribery down sharply since 2018 – group
“Too many governments choose to turn a blind eye when their companies use bribery to win business in foreign markets,” said Delia Ferreira Rubio, chair of the group.
A collapse of global tax talks could cost $100 billion, says OECD
The aim is update international tax rules for the age of digital commerce, in particular to discourage big Internet companies like Google, Facebook and Amazon from booking profits in low-tax countries like Ireland regardless where their customers are.
In the absence of a new international rulebook, a growing number of governments are planning theirIn the absence of a new international rulebook, a growing number of governments are planning their own digital services taxes, which has prompted threats of trade retaliation from the Trump administration.
Swiss Re and Daimler launch new company Movinx, to transform automotive & mobility insurance business
Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model.
The aim is to develop fully digital automotive and mobility insurance products that both fulfill changing customer needs and offer best-in-class service quality. The first insurance products and services are planned to launch in France in 2021.
In the coming years, further market entries are planned across Europe, in the Americas, and in Asia.
Pravina Ladva, Swiss Re’s Digital Transformation Officer, said: ”We believe that partnering with Daimler Insurance Services and establishing Movinx will take us to the next level in innovating mobility insurance. Our joint long-term ambition is to unlock an ecosystem interplay where insurance supports the introduction of new technologies such as advanced driving assistance systems and autonomous cars as well as new business models in the mobility area.”
As globe gallops into vaccine trials, insurers remain unfazed
While more than 40 experimental COVID-19 vaccines are being tested on humans, the insurance companies with decades of experience in assessing the risks of clinical trials don’t see anything to be unduly concerned about.
Executives at insurer Allianz and brokers Gallagher and Marsh, among the leading players in clinical trials insurance, told Reuters that premiums had only marginally increased so far in the current pandemic
Natural disasters surge in past 20 years, likely to continue to wreak havoc: U.N.
China (577) and the United States (467) recorded the highest number of disaster events from 2000 to 2019, followed by India (321), the Philippines (304) and Indonesia (278), the U.N. said in a report issued the day before the International Day for Disaster Risk Reduction. Eight of the top 10 countries are in Asia.
Climate change poses ‘profound threat’ to global growth: IMF chief
IMF Managing Director Kristalina Georgieva told finance ministers meeting on climate change that countries should also ensure their stimulus funding aimed at halting the COVID-19 pandemic should target green investments.
Lloyd’s of London reviews insurance contracts due to COVID-19
“The insurance industry must urgently reassess how it can better serve and support its customers,” Lloyd’s Chief Executive John Neal said in a statement.
Lloyd’s recommendations for simpler products including insurers carrying out a “linguistics review” of policy documents, investing in new products such as parametric insurance which pay out immediately when specific triggers are hit, and involving customers in product design.
Container shipping group CMA CGM resumes online services after cyber attack
In a separate incident, U.N. shipping agency the International Maritime Organization (IMO) said on Oct. 1 that its website and intranet had been disabled by a sophisticated cyber attack and its IT specialists had shut down key systems to prevent further damage.
U.S. Olympics suing insurers for holding up Nassar settlement talks
Larry Nassar sexual abuse scandal.Committee Chair Susanne Lyons accused insurers including 11 insurers, including units of Chubb Ltd and American International Group Inc, of holding up settlement negotiations with the hundreds of women who were abused by disgraced former USA Gymnastics national team doctor Nassar