Insurers continue to have "material exposure" to climate change...
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Africa Specialty Risks gets Lloyd’s in-principle approval to launch Syndicate in 2024 with managing agent Apollo
Mikir Shah, CEO, Africa Specialty Risks ASR Syndicate 2454 aims to...
AXA explores $1.1 bln disposal of European protection businesses -sources
The transaction could include businesses in France, Italy, Spain...
Bank of England tells banks & insurers to push on with climate risk analysis
The guide drawn up by the Climate Financial Risk Forum (CFRF),which was set up by the BoE and Britain’s Financial Conduct Authority last year, is the first of its kind and sets out how financial firms can analyze and disclose risks from climate change and spot opportunities for new consumer products.Sarah Breeden, the BoE’s co-chair of the CFRF, said firms should start on their analyses straight away using the guide that is based on best practice from firms
Tesla sued for airbag malfunction in Model 3 highway crash
Alleged defects in Tesla’s Autopilot system have been blamed in several lawsuits for deaths and injuries and the company has faced scrutiny of the technology by federal safety regulators. Separately, the National Highway Traffic Safety Administration is investigating premature failures of the large central touchscreen and the computer that powers it in Tesla’s Model S sedans.
Environmental groups propose tailings dam safety standards
The Earthworks-led report recommends that new tailings dams be banned near inhabited areas; make dam inspection data easily available; and make safety, not cost, the main factor in a dam’s construction.
U.S.insurers’ private equity holdings rise 10% to $81.3 billion in 2019:AM Best
As insurers have pulled back from hedge fund investments , many have shifted allocations to private equity to maintain exposure to alternative assets and achieve better returns, compared with the public markets. U.S. life/annuity (L/A) insurers have driven the majority of the growth in private equity holding
Australia to spend nearly $1 billion to boost cyber security
The announcement comes just weeks after Australia said a “sophisticated state-based actor” has been attacking all levels of the government, political bodies, essential service providers and operators of critical infrastructure.Although Australia has declined to say who it believed was responsible for the attacks, three sources briefed on the matter told Reuters the country believed China was responsible, a suggestion swiftly dismissed by Beijing.
Car crashes deadlier as drivers speed during lockdowns:Study
-Police in New York said they were aware of the increased speeds and had deployed additional patrols. Data from traffic analytics company INRIX shows speeds in New York City increased 44% from 28 miles (45 km) per hour in April last year to 41 miles (66 km) per hour this April.
– Speeding offenses increased 187% in London during the lockdown compared to the same period a year ago, Cox said, but extreme speeding offenses increased even more — by 236%.
– Despite the overall drop in collisions and fatalities, the fatality rate among crashes was 70% higher in France.
Brazil political risk looms large again over markets
“Markets are starting to look at the politics again,” said Alexandre Song, partner at Macro Capital, a hedge fund in Sao Paulo.
“The price action hasn’t been too dramatic so far, but it is deteriorating. It feels like markets are partying next to a live volcano, and there’s smoke coming out,” he said.
Pakistan’s national airline moves to assuage concern over pilots’ licences
Global safety and transport bodies expressed concern about the alleged “dubious” licences held by Pakistan Air Line pilots of and said they were looking into the matter. Pakistan Air Line flies a number of international routes, including to the United States, Britain and Europe.
Global coronavirus cases exceed 10 million
The figure is roughly double the number of severe influenza illnesses recorded annually, according to the World Health Organisation.
Covid 19 Pandemic:Deaths top half a million,one person dying in every 18 seconds in June
While the overall rate of death has flattened in recent weeks, health experts have expressed concerns about record numbers of new cases in countries like the United States, India and Brazil, as well as new outbreaks in parts of Asia.
About one-quarter of all the deaths so far have been in the United States, the Reuters data shows. The recent surge in cases have been most pronounced in a handful of Southern and Western states that reopened earlier and more aggressively.
The number of cases in Latin America on Sunday surpassed those diagnosed in Europe, making the region the second most affected by the pandemic, after North America.