According to Freightos, a cargo booking company, the cost of...
Category:
International News
Latest
Boeing to pause 737 production for quality stand down on Jan 25
During the stand down, employees will attend quality workshops and...
Australia imposes sanctions on Russian hacker over Medibank breach
This is the first time Australia has used its cyber sanctions...
Alibaba,Jack Ma summoned by Gurugram court on former employee’s complaint
In court filings dated July 20 and previously not reported,the former employee of Alibaba’s UC Web, Pushpandra Singh Parmar, alleges the company used to censor content seen as unfavourable to China and its apps UC Browser and UC News showcased false news “to cause social and political turmoil”.
Swiss Re appoints Pasricha as Global Head P&C Solutions
For the last six years,Pranav Pasricha was the CEO of Intellect SEEC,offering data, machine learning and cloud-based solutions to commercial P&C and life insurance clients globally. Earlier, Pasricha was responsible for strategy, technology and operations for QBE Insurance across Australia Asia Pacific, leading the build-up of its eBusiness capabilities and digital transformation of underwriting and claims
Record numbers of coronavirus cases in every global region
“We will not be going back to the ‘old normal’. The pandemic has already changed the way we live our lives,” World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said this week. “We’re asking everyone to treat the decisions about where they go, what they do and who they meet with as life-and-death decisions – because they are.”
Insurers explore officer coverage as police reform debate rages in US
U.S. insurers and brokers see a potential market opening up after a New York state lawmaker this month introduced legislation that would require individual officers to carry liability coverage for lawsuits alleging excessive force, abuse or other misconduct.
Currently, most police officers rely on municipalities to cover legal costs and payouts to victims, either from public funds or blanket insurance. Critics say that provides no incentive for officers to check their behavior, often leaving taxpayers on the hook. New York City paid $220 million last year for police department settlements of civil lawsuits, far more than any other of the city’s agencies, public data show.
Shadow of second wave of the virus spoils world leaders’ efforts to restore normality
From Italy to New Zealand, irrespective of how well the virus was contained, governments acknowledge that fresh waves of the deadly coronavirus are likely and that the policy tools to mitigate the damage are limited.The hope is that localizing quarantines to towns, cities and regions will be enough to snuff out bouts of infections as they come.
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