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Italy, EU’s oldest country, to spend more on the elderly
Among several measures, the package envisages a so-called monthly...
New UN database to help countries tap climate ‘loss and damage’ fund
Given the limitations of current databases, UNDRR is collaborating...
More S.African insurers yield to customer demands to pay COVID BI claims
The FSCA and the Prudential Authority, which oversees the strength of the financial-services industry, last week struck a deal with insurers to consider once-off payments to help keep customers afloat, while courts decide whether insurers are correctly interpreting the terms of contracts.
Boeing cuts output of big jets as pandemic hammers sales
The production cuts reflect concern among aviation companies across the board about the pace of the coronavirus recovery. Global airlines warned on Tuesday it would take a year longer than expected for air traffic to return to normal levels, with long-range travel hit harder than short hops.
The outbreak has crippled passenger travel and pushed major airlines to the brink of bankruptcy, resulting in many carriers deferring aircraft deliveries.
World Bank’s IFC to launch $4 billion medical supply financing platform
The World Health Organization estimates that worldwide demand for critical healthcare products, including masks and ventilators, now exceeds supply by more than $60 billion annually.
SoftBank-Backed ClimaCell raises funds for weather forecasts
ClimaCell’s forecasting products use past weather history and artificial intelligence to gauge the weather’s impact on businesses. Airline companies had been some of ClimaCell’s key customers, but the slowdown in global travel caused by the coronavirus prompted the startup to pivot this year, Elkabetz said.
South Korea investigates suspected safety issues with Tesla vehicles
Braking and steering systems including the Autopilot function were part of the investigation, a transport ministry official said on Wednesday.
The U.S. National Transportation Safety Board last year cited driver errors and Tesla’s Autopilot design as the probable cause of a January 2018 crash of a Model S in California.
Insurers walk tightrope of risky corporate credit
Insurers globally invest more than $20 trillion (15.42 trillion pounds), but their investment positions, already perilous from years of falling bond yields, were left with large holes following this year’s coronavirus-linked slide in asset prices.
WHO says COVID-19 pandemic is ‘one big wave’, not seasonal
“People are still thinking about seasons. What we all need to get our heads around is this is a new virus and…this one is behaving differently,” Margaret Harris told a virtual briefing in Geneva, urging vigilance in applying measures to slow transmission that is spreading via mass gatherings
Moderna,Pfizer start decisive COVID-19 vaccine trials,eye year-end launches
Moderna could have tens of millions of doses ready when and if the vaccine is deemed safe and effective, Collins told reporters on a call.
Pfizer said that if the trial was successful, it could seek regulatory approval as soon as October and supply vaccines for 50 million patients, at two doses each, by the end of the year.
Munich Re Automation Solutions announces partnership with new Asia-Pacific clients
By utilising Munich Re’s underwriting rules and expertise through ALLFINANZ’s analytics and reporting capabilities, HLA and HLM Takaful will be able to streamline their current underwriting processes and be more cost effective
InsurTech fundraising rebounds as over $1.5 billion invested in Q2 2020; four more ‘mega-rounds’ completed
At 74, deal count was down 23% from Q1, but many individual rounds were larger as investors continued to turn away from Seed and Angel deals in favour of support for more mature ventures. P&C sector investments predominated, accounting for 68% of funding, but the share of L&H sector investments was up 17 points to 32%, as the pandemic crisis continues to compound the value of technology, and particularly telehealth, in the segment. Also notable was the initial public offering of Lemonade and the acquisition of two incumbent insurance companies by InsurTechs, Hippo and Buckle