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Lloyd’s and UNCDF to run parametric insurance training in climate vulnerable countries
Initially focussing on building and scaling solutions across Fiji...
Bangladesh, Pakistan and India bottom in air quality rankings in 2023, data shows
Average concentrations of PM2.5 - small airborne particles that...
UK regulator, insurers, set for November 16 court battle over COVID-19 case
The FCA, six insurers and an action group are appealing a lower court judgment that sought to clarify whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000 policyholders and billions in claims, cover disruption and government-ordered closures to curb the virus.
Although expedited, the appeal has delayed payouts on disputed claims just as thousands of struggling businesses face a second national lockdown this week to curb resurgent coronavirus cases.
Technology can make India’s crop insurance scheme profitable:Report
Contributing to the report, the Agricultural Insurance Company of India commented: “With the advent of new concepts in agriculture, the scope for crop / agriculture insurance in India is vast. The main challenge is consistency. The scheme has changed drastically in a very short space of time. Reinsurers believe there is ample opportunity but only if they decide to commit to this product for the longer term and take a long-term view despite the changes.”
Poor public risk management led to higher Covid-19 Pandemic losses and P&C market exposure:Denis Kessler
Denis Kessler, chairman and chief executive officer of SCOR said that this is the biggest surprise of the crisis because it’s the opposite of what, broadly speaking, had been anticipated and modelled for pandemic risk. While the industry was certainly not unaware of pandemic threat, it failed to accurately anticipate the lines it would impact most severely
U.S. formally exits global climate pact amid election uncertainty
“The U.S. withdrawal will leave a gap in our regime, and the global efforts to achieve the goals and ambitions of the Paris Agreement,” said Patricia Espinosa, executive secretary of the U.N. Framework Convention on Climate Change (UNFCCC).
Britain prepares for COVID-19 vaccine as Oxford forecasts result this year
The National Health Service (NHS) in England is preparing to start distributing possible COVID-19 vaccines before Christmas in case one is ready by the end of the year.
China slams the brakes on Ant Group’s $37 billion listing
Ant said that its listing had been suspended by Shanghai following a recent interview regulators held with its founder Jack Ma and top executives. It said it may not meet listing qualifications or disclosure requirements, and also cited recent changes in the fintech regulatory environment.
Shanghai described Ant’s meeting with Chinese financial regulators as a “major event”.
Global marine insurance results indicate a modest recovery but COVID-19 adds uncertainty :IUMI reports
Marine underwriting premiums for 2019 were estimated to be USD 28.7 billion which represents a 0.9% reduction from 2018.
The USD 28.7 billion global income was split between these geographic regions:Europe 46.3%, Asia/Pacific 31.8%, Latin America 10.3%, North America 5.3%,
Other 6.3%.
UK raises terror threat level to severe after Europe attacks
“It is now confirmed that yesterday’s attack was clearly an Islamist terror attack,” Kurz said. “It was an attack out of hatred – hatred for our fundamental values, hatred for our way of life, hatred for our democracy in which all people have equal rights and dignity.”
Pilot Unions, crash families seek revisions to 737 Max training
A group of dozens of family members and friends of the 157 people who died on an Ethiopian Airlines crash on March 10, 2019, go further, seeking additional design changes and publication of a more detailed training outline.
“The FAA’s proposed update to the 737 Max pilot training requirements is inadequate to rectify Boeing’s history of 737 Max-related failures and insufficient to prepare pilots to safely fly the airplane,” the family group said in its comments, also posted on Monday.
These are the Airlines teetering on the brink of Covid ruin
Having a home government with deep -- and open -- pockets is emerging as key in terms of whether an airline will make it through the coronavirus pandemic. Carriers in jurisdictions where there is scant support from up high are most likely to go bust, according...