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Global regulators make tackling non-bank leverage a priority for 2024
The G20’s Financial Stability Board (FSB) and IOSCO, a global...
Shipping firms impose surcharges as Red Sea attacks hit global trade
In total, Maersk said a standard 20-foot container travelling from...
Plastic pollution flowing into oceans to triple by 2040:study
If no action is taken, however, the amount of plastic going into the sea every year will rise from 11 million tonnes to 29 million tonnes, leaving a cumulative 600 million tonnes swilling in the ocean by 2040, the equivalent weight of 3 million blue whales, according to the study published in the journal Science.
“Plastic pollution is something that affects everyone. It isn’t a ‘your problem and not my problem’. It’s not one country’s problem. It’s everyone’s problem,” said Winnie Lau, senior manager at Pew and co-author of the study.
Don’t expect first Covid-19 vaccinations until early 2021, says WHO expert
WHO is working hard to ensure fair distribution of the vaccines, but in the meantime it is key to suppress the spread of the coronavirus, said Mike Ryan, executive director of WHO’s emergencies programme, as daily new cases around the globe are at near-record levels.
Verisk releases New Ransomware Model as part of Cyber Risk Platform
The economic loss from a major systemic ransomware attack can exceed 15 billion USD, causing significant damage to the global economy, thereby making modeling such attacks critical to the insurance industry.
Global coronavirus cases exceed 15 million
The top five countries with the most cases is rounded out by Brazil, India, Russia and South Africa. But, the Reuters tally shows the disease is accelerating the fastest in the Americas, which account for more than half the world’s infections and half its deaths.
Globally, the rate of new infections shows no sign of slowing, according to the Reuters tally, based on official reports.
After the first COVID-19 case was reported in Wuhan, China, in early January, it took about 15 weeks to reach 2 million cases. By contrast, it took just eight days to climb above 15 million from the 13 million reached on July 13.
France weighs insurance options to protect companies,jobs from future Pandemics
The goal is to protect companies and jobs from the damage that major events such as pandemics can cause, Finance Minister Bruno Le Maire said in a statement. A working group consisting of lawmakers and industry representatives came up with a range of solutions on developing insurance coverage for such catastrophes, and Le Maire sought public comment on its proposals to inform the government’s work on the issue
Dam collapse in China could point to a ‘black swan’ disaster
But climate change is bringing a new normal of extremes and flood-risk policies decided a decade or two ago are no longer sufficient, said Benjamin Horton, director at the Earth Observatory of Singapore.
“What really needs to happen is to work with the ecosystems,not against them by building dams,by extending flood wetlands and flood plains and allowing the water to naturally mix with the environment,”he said.
EU makes world’s biggest ‘green recovery’ pledge – but will it hit the mark?
The money represents a 30% share of a mammoth package, comprising a 1.074 trillion euro EU budget for 2021-27 and a 750 billion euro coronavirus recovery fund. Leaders also agreed that even those parts of the overall package not specifically earmarked for climate spending must “do no harm” to the EU’s goal to become climate neutral by 2050.
China offers more financial support for flood-hit areas
Separately, the CBIRC urged insurers to properly perform investigations and claims settlement and arrange financial resources in advance to help flood-hit companies and people resume production and normal lives in a timely manner.Large parts of China were reeling on Friday from the worst floods in decades, which destroyed homes and affected millions of people.
Insurers should pay UK businesses over ‘cataclysmic’ pandemic, court hears
A ruling against the insurers could mean tens of millions of dollars in additional claims, hitting a sector that is already facing its biggest test to date. Lloyd’s of London, the world’s largest insurance exchange, estimated the global pandemic could cost insurers more than $200 billion.
Twitter says attackers downloaded data from up to 8 non-verified
Hackers may have also attempted to sell the user names of some of the accounts, it said.
The high-profile accounts that were hacked also included rapper Kanye West, Amazon.com founder Jeff Bezos, investor Warren Buffett, Microsoft co-founder Bill Gates, and the corporate accounts for Uber and Apple.
In its latest statement, Twitter said attackers “manipulated a small number of employees” to gain access to the internal support tools used in the hack.