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Hacker forum post claims UnitedHealth paid $22 mln ransom in bid to recover data
The break-in at UnitedHealth's Change Healthcare unit, which has...
Malayan Insurance enhances Natural Catastrophe Analytics with Moody’s RMS Risk Modeler
Andrew Hare, managing director, APAC, Moody’s RMS, said: “We are...
Lloyd’s headquarters to be transformed into a workplace for the future:CEO
“The Lloyd’s building is almost 35 years old, so how can it be the right environment for the market to operate?For the first time, we have both a virtual capability and a real capability operating simultaneously at Lloyd’s. We’ve also set some ideas on the table to metaphorically rip up the underwriting room and decide what it should look like in the 21st century, and what the marketplace should look like in the 21st century,” said Neal while speaking at a Virtual Reinsurance Renewal Season fireside chats.hosted by Dominic Christian, global chairman of Aon’s Reinsurance Solutions,
Asia Pacific health care benefit cost expected to jump by 8.5% in 2021, Willis Towers Watson survey
The 2021 Global Medical Trends Survey, the largest of its kind, found that medical insurers in APAC project health care benefit costs will take a sudden drop in 2020 before rebounding to 8.5% in 2021, up from 6.2% this year and 7.5% in 2019.
Markets including China (9.3%), India (10%), Indonesia (12%), Malaysia (12.5%), New Zealand (20%), Philippines (8.8%), Singapore (8.2%), Thailand (8%) and Vietnam (10.2%) will see an increase in excess of 8% next year.
According to the study, cancer (79%), cardiovascular diseases (76%), and conditions affecting musculoskeletal and connective tissue (42%) are the top three conditions currently affecting medical costs in APAC, with cancer and cardiovascular diseases expected to remain so in the near future.
Asia-Pacific countries begin to ease pandemic-related travel bans, but hurdles remain
For now, few people are likely to travel because of testing and insurance requirements, and in some cases the need to quarantine upon return home, meaning the deals offer limited hope for airlines and the tourism industry.
A Singapore-Indonesia deal announced on Monday for essential business and official travel will require an application and COVID-19 swab tests both before and after travel.
Solar the new ‘king of electricity’ as renewables make up bigger slice of supply: IEA
Despite the increase in solar and wind power, carbon emissions are projected to pick up in 2021 after a 2.4 gigatonne (Gt) drop in 2020, and to exceed 2019 levels in 2027 before growing to 36 Gt in 2030, it added.
The IEA said gaps remain in many cases between long-term ambitions and specific near-term plans to curb emissions.
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.