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HDI Global adopts generative AI with proprietary GPT system
"With HDI-GPT we are for the first time looking to generative AI...
Toyota warns 50,000 vehicle owners to stop driving, get immediate repairs
More than 30 deaths worldwide, including 26 U.S. deaths, and...
Hitachi and Swiss Re join hands to offer industry first ‘digital risk’ solutions
“We are excited to work with a global technology leader like Hitachi to advance corporate insurance through digital market platforms and accelerate the adoption of innovative, smart manufacturing.,Through this partnership we are activating machine-sensor data and continuous diagnostics across the industrial sector. Ultimately this will enable us to price risk more precisely, ensure effective pay-out mechanisms, and provide a seamless risk management experience that addresses industry inefficiencies and is tailored to our customers’ needs,” said Andreas Berger, CEO, Swiss Re Corporate Solutions.
Hollywood shutdowns to cost insurer millions
The disruption of entertainment companies has translated into a rush of claims seeking compensation from insurers for lost income. Allianz alone took a 1.2 billion-euro hit to earnings in the first half from virus-related claims. In response, some insurers have stopped selling coverage to protect against business losses in future pandemics.
Cisco ordered to pay $1.9 billion in U.S. patent lawsuit, plans appeal
The payout includes an $1.89 billion award, reflecting $755.8 million in actual damages suffered by privately held Centripetal multiplied by 2.5 to reflect Cisco’s “willful and egregious” conduct, plus prejudgment interest.
Despite shift, energy giants fall short of U.N. climate goals: study
No company was set to meet the United Nations-backed Paris Agreement’s long-term goal of limiting global warming to “well below” 2 degrees Celsius above pre-industrial levels by reducing carbon emissions to net zero,
“Some (companies) might have made bigger statements so far than the others and the important thing is the direction of travel. But none of them are making net zero yet,” Bill Hartnett, stewardship director of ESG Investment at Aberdeen Standard Investments, a TPI member. told Reuters.
COVID-19 vaccine may be ready by year-end, says WHO’s Tedros
Nine experimental vaccines are in the pipeline of the WHO’s COVAX global vaccine facility that aims to distribute 2 billion doses by the end of 2021
U.S. FDA safety guidelines likely to push COVID-19 vaccine authorization past election
The White House could still force authorization of a vaccine without that additional safety data. Doing so would put it in open disagreement with the FDA and its career scientists, and add to the perception that politics was playing a role in pushing out a vaccine.
If the agency follows its own guidelines, it is unlikely to authorize a vaccine before sometime in late November. It wants two months of data from half of a trial’s volunteers.
Airlines warn of more bankruptcies as wage support ends
Airlines consumed $51 billion in cash in the second quarter as the pandemic brought global travel to a near-standstill, the industry body said.
Whereas the withdrawal of subsidies makes sense for sectors in recovery, IATA warned of further airline bankruptcies in the northern hemisphere winter as the collapse in revenue continues to dwarf cost savings. The average carrier now has cash for 8.5 months of operations, Brian Pearce, chief economist at the International Air Transport Association (IATA), told reporters
SCOR to strengthen regional focus,carves out “APAC Emerging Market’ to be headed by India’s Mukul K
“This has led us to create a new position of P&C Regional Head – of EMEA and the Americas respectively – on top of our existing APAC organization, and to re-organize the reinsurance teams into four different regions with more homogenous client needs, i.e. Europe, North America, APAC Mature markets, and Fast-Growth markets.” said SCOR Global P&C CEO Jean-Paul Conoscente ,
APAC Emerging Markets,that excludes SCOR’s operations in Japan, South Korea & ANZ, will be led by Mukul Kishore, who continues as the CEO of SCOR’s India branch operations
One in 10 may have caught COVID, as world heads into ‘difficult period’: WHO
“Our current best estimates tell us about 10% of the global population may have been infected by this virus. It varies depending on country, it varies from urban to rural, it varies depending on groups. But what it does mean is that the vast majority of the world remains at risk,” Ryan said. “We are now heading into a difficult period. The disease continues to spread.”
U.S. Supreme Court takes up energy companies’ appeal over climate damage lawsuit
The U.S. Supreme Court on Friday agreed to hear an appeal by energy companies including BP PLC, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change.