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Microsoft warns other firms of Russian-sponsored group in email hacking
The hackers — a group known as Midnight Blizzard or Cozy Bear —...
IMF forecasts ‘soft landing’ for global economy, upgrades India
"Growth in India is projected to remain strong at 6.5 per cent in...
U.S. forecaster sees 85% chance of La Niña through winter
La Niña is characterized by unusually cold temperatures in the equatorial Pacific Ocean and linked with floods and drought.
AXA XL announces appointments for Asia & Europe Business Unit
Xavier Veyry, Chief Executive Officer, Asia & Europe at AXA XL, said: “I’m delighted we could find the right people within our organisation to lead our underwriting, captives and claims capabilities in Europe and Asia, as well as our local teams. It reflects the quality of talent at AXA XL.”
U.S. lawmakers detail Big Tech’s market abuses and press for strict reform
The report by the antitrust subcommittee of the Judiciary Committee recommends that Alphabet Inc.’s Google, Apple Inc., Amazon.com and Facebook – with a combined market value of over $5 trillion – should not both control and compete in related businesses.
Google faces antitrust case in India over abuse in smart TVs market: Report
The case has been filed by two Indian antitrust lawyers, Kshitiz Arya and Purushottam Anand. They both confirmed the case filing against Google for alleged abuse in the smart television market, but declined to comment further.
The case is Google’s fourth major antitrust challenge in India, one of its key markets where it is currently facing public criticism from local startups for enforcing certain policies and company charges they contend hurt their growth.
September was world’s hottest on record, EU climate change service says
Extending a long-term warming trend caused by emissions of heat-trapping gases, high temperatures this year have played a major role in disasters from fires in California and the Arctic to floods in Asia, scientists say.
“As we go into an even warmer world, certain extremes are likely to happen more often and be more intense,” Copernicus senior scientist Freja Vamborg told Reuters, pointing to heat waves and periods of intense rain as examples of this.
U.S. appeals court revives Glaxo $235.5 million verdict against Teva
The case arose after Teva began selling a Coreg generic in 2007 with “skinny” labels indicating treatment for the first two conditions, and was required by the Food and Drug Administration to add congestive heart failure to the labels in 2011.
Glaxo, whose patent expired in 2015, sued Teva, and a Delaware jury ordered the Israeli drugmaker to pay $234.1 million for lost profit plus $1.4 million in royalties.
U.S. District Judge Leonard Stark overturned the verdict, saying other factors could have caused doctors to prescribe generic Coreg, including for congestive heart failure.
Covid-19 is changing global claims trends, risk exposures for companies and their insurers:Allianz
Going forward, many businesses are expected to review and de-risk their supply chains and build in more resilience. This could involve some reshoring of critical production areas because of disruption caused by the pandemic. Such a move would likely impact frequency of claims and the costs of any future business interruptions.
Asia-Pacific motor insurance market to surpass $257bn in 2023:GlobalData
Another key trend which can be observed in the motor insurance market is the pace of product innovations. New insurance products such as short-term car insurance and pay-as-you-go (PAYG) products are being offered by motor insurance companies to support sales at a time when car usage is low due to lockdown restrictions. For instance, insurance start-ups such as UbiCar, Real and Kogan in Australia are offering pay-as-you-go insurance policies.
China’s insurance industry rakes in $ 625.5 billion premium in 2019
Last year, China’s insurance industry raked in a total of 4.26 trillion yuan (about 625.5 billion U.S. dollars) in premium income, insuring an aggregate amount of 6,470 trillion yuan, according to the report.
IAG reaches $99 mln settlement over mis-sold insurance
Insurance Australia Group had agreed to a class action settlement involving a gross payment of $99 million over add-on insurance products sold through motor vehicle and motorcycle dealers