The world's top shipping firms, including Maersk and Hapag Lloyds,...
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Cuba quietly authorizes euthanasia
Euthanasia and medically assisted suicide, opposed by most...
Number of new Covid cases increased 52% globally in past one month: WHO
WHO said over 118,000 new COVID-19 hospitalisations and over 1600...
Lloyd’s approves “Syndicate-in-a-Box”,to insure transport of future COVID-19 Vaccine
Syndicate 1796 has been developed by Parsyl, an insurance technology company and Lloyd’s Lab alumni, in close partnership with Ascot as managing agent, and in cooperation with AXAL XL, McGill and Partners and Gavi, the Vaccine Alliance. The Syndicate forms the foundation of the new Global Health Risk Facility (GHRF) at Lloyd’s, which aims to provide comprehensive insurance and risk mitigation services to support the manufacturing and distribution of COVID-19 vaccine development efforts. It aims to start writing business from 1 October 2020.
Companies need immediate rethink on U.S. data transfers,says EU watchdog
Europe’s highest court last week cited concerns about U.S. surveillance for its ruling, disrupting thousands of companies that had depended on the four-year-old Privacy Shield to transfer Europeans’ personal data for payroll, finance and other uses.
WHO chief scientist sees no herd immunity to Covid-19 yet
As there are waves of this infection going through countries, people are going to develop antibodies and those people will hopefully be immune for sometime so they will also act as barriers and brakes to the spread.” Other experts have estimated that as much as 70% to 80% of the population need to have antibodies before there is any herd immunity effect.
WHO reports record daily increase in global coronavirus cases, up over 284,000
The WHO reported 69,641 new cases in the United States, 67,860 in Brazil, 49,310 in India and 13,104 in South Africa. The largest increases in new deaths were 3,876 in Peru, 1,284 in Brazil, 1,074 in the United States, 790 in Mexico and 740 in India.
Patchy data hinders climate risk assessment in finance – regulator
The Financial Stability Board (FSB), which coordinates financial rules for the Group of 20 Economies (G20) and is chaired U.S. Federal Reserve Vice Chair Randal Quarles, said in a report that regulators and investors could find it difficult to compare banks or insurers from different countries
Swiss Re books $476 million of Covid-19 losses in March quarter
A range of factors relating to the pandemic,including future infection and mortality rates;the duration and effects of mitigation measures, including on business activity; the timing of an effective vaccine and/or alternative treatment solutions; legislative or regulatory efforts and the outcome of court and arbitration cases on coverage issues; the impact of government stimulus packages;and the severity and duration of recessionary impacts,may impact claims development in the coming quarters, either positively or negatively,relative to Swiss Re’s projections.
Global cat losses at $75 bn in 1H 2020,India’s Amphan was the costliest:Aon Report
Natural disasters were responsible for approximately 2,200 fatalities during the first half of 2020, significantly below the long-term (1980-2019) average of 39,800 and the median of 7,700. Flooding was the deadliest natural peril during the period, having been responsible for 60 percent of the death toll.
Above-average hurricane season possible in the second half of the year:Munich Re
Munich Re has said up to the end of June,natural disasters produced overall losses of around $68bn,a slightly lower figure than the 30-year average (US$ 74bn after adjustment for inflation).
Insured losses, at around US$ 27bn, were higher than usual (US$ 20bn) due to the large proportion of weather disaster losses in North America.
North America accounted for 47% of overall losses and for 82% of insured losses, significantly more than the respective long-term averages (35% and 60%). In contrast, natural disasters in Europe and the Asia-Pacific region produced lower losses.
Chile’s Congress passes pensions bill,president agrees to sign it
Chile’s lower chamber erupted in cheers and clapping after the bill was passed on Thursday, with some chanting “no more AFP” – a reference to the long-running campaign to tear up Chile’s much-mimicked defined contribution Pension Funds Administrators (AFP) system that was introduced during the Augusto Pinochet dictatorship.
Big U.S.Boeing customers want the 737 MAX but say contracts need re-set
American Airlines Chief Financial Officer Derek Kerr said the carrier is in “good discussions” with Boeing to finalize financing terms on 17 737 MAX jets that were to be delivered this year, adding that the airline still wants its full order for 100 MAX planes, over time