"Whether it is accelerating the rollout of generative AI or...
Category:
International News
Latest
Container rates soar on concerns of prolonged Red Sea disruption, inflation
"Tanker rates will increase and futures are up this morning," said...
Tesla, Volvo Car pause output as Red Sea shipping crisis deepens
Late on Thursday, Tesla told Reuters it will suspend most car...
90% of China’s Sinovac staff, families took coronavirus vaccine, says CEO
Data gathered from the programme could offer evidence of the vaccine’s safety, but such data, which is not part of the registered clinical trial protocols, will not be used as main materials that regulators review in judging whether to approve the vaccine for commercial use, Yin said.
McDonald’s takes action against Australia’s Burger King over ‘Big Jack’
McDonald’s is also seeking damages, interest and costs, as well as an order that Hungry Jack’s destroy all “promotional materials,” which include physical and electronic advertising, the paper reported.
China offers experimental Coronavirus vaccine to Aviation workers
It is not clear yet which candidate vaccine will be given and how many people will be vaccinated.t least two experimental vaccines, one from Sinovac Biotech Ltd and the other from China National Biotec Group, have been approved for emergency use in China.
“World must be more ready for next Pandemic” : WHO
“This will not be the last pandemic,History teaches us that outbreaks and pandemics are a fact of life. But when the next pandemic comes, the world must be ready – more ready than it was this time,”” World Health Organization chief Tedros Adhanom Ghebreyesus told a news briefing in Geneva
Typhoon Haishen hammers southern Japan with high winds and power outages
Airlines have canceled more than 500 flights departing from Okinawa and southern Japan, NHK said. Bullet train service in southern and western Japan was suspended, it said.
Japan’s coastguard on Saturday suspended for a second day its search for crew missing from a ship that capsized in the East China Sea last week with a cargo of cattle.
Total expected onshore U.S. insured losses from Hurricane Laura around $9bn – $13bn:RMS
RMS estimates an additional US$1.0bn to US$2.0 billion of insured losses to offshore platforms, rigs, and pipelines in the Gulf of Mexico, due to wind and wave-driven damages. Offshore losses were estimated using the September 2020 vintage of the RMS Offshore Platform Industry Exposure Database
Swiss Re retains top spot in AM Best’s top 50 ranking of global reinsurers
The top 10 accounted for 69% of the top 50’s total GPW. In recent years, this percentage has consistently been around 70%, which reinforces AM Best’s sentiment that the industry’s largest reinsurers continue to house disproportionately sizable amounts of risk, despite cedants’ efforts to diversify their reinsurance panels and spread out their counterparty risk.
The top 50 reinsurance groups reported an average combined ratio of 102.4 in 2019, a modest deterioration from the 2018 combined ratio of 100.9. Losses were driven primarily by social inflation in U.S. casualty business and typhoons in Asia, as well as loss creep from 2018 storms.
India’s GIC Re,with a gross premium of $6.86 billion,is the12th largest company(11th in 2018 list) in the AM Best list of top 50 global reinsurers
WHO says widespread vaccinations against Covid-19 are not expected until middle of next year
“We are really not expecting to see widespread vaccination until the middle of next year,” Harris told a UN briefing in Geneva. “This phase 3 must take longer because we need to see how truly protective the vaccine is and we also need to see how safe it is.”
Revised Weinstein settlement draws opposition from accusers
The $35.2 million proposal filed on Tuesday in the U.S. Bankruptcy Court in Delaware was financed by insurers and includes $17 million to settle sexual misconduct claims in various courts as well as a lawsuit by New York’s attorney general.
Insurers must do more to support COVID-19-related mental health issues:GlobalData
The Health and Safety Executive (HSE) found that 12.8 million UK working days were lost in 2019 because of work-related stress, anxiety and depression. While the HSE has continued to raise the issue of remote-working staff’s mental health during the pandemic, insurers are penalizing policyholders for flagging any related issues. Consumer campaign group Fairer Finance has found that insurers such as Budget, Virgin Money, Beagle Street and Canada Life are actually increasing the cost of premiums for consumers that declare minor stress issues.