Despite quickly declining after 2020, the number of workers living...
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How Houthi attacks on ships in the Red Sea are affecting global trade
In fact, 40% of Asia-Europe trade normally goes through the area,...
Crude oil prices rise after US, UK attack Houthis
The Houthis attack is forcing ships to take a far longer route...
Business interruption insurance claims are a worry, BoE says before court rules
Britain’s Financial Conduct Authority goes to court this month to clarify whether an array of wordings in business interruption insurance policies back claims for compensation for disruptions caused by pandemic lockdowns.
AXA’s fund arm sets 33% gender diversity target on company boards
The asset management unit of French insurer AXA said on Wednesday it will also introduce a target to have at least one woman on listed company boards in Japan and in emerging markets, or 10% for larger boards.
Chubb wants U.S. to offer businesses pandemic cover, with insurers taking some risk
Under Chubb’s plan, the government would offer up to $750 billion in coverage for small businesses with up to 500 employees. Of that, the industry would pay for 6% of claims, or up to $15 billion, during the program’s first year, growing annually to 12% by year 20. COVID-19, the disease caused by the novel coronavirus, would be excluded.
Global coronavirus cases rise to more than 12 million
There have been more than 546,000 deaths linked to the virus so far, within the same range as the number of yearly influenza deaths reported worldwide. The first death was reported on Jan. 10 in Wuhan, China before infections and fatalities surged in Europe and then later in the United States
Munich Re’s digital solution to power Generali Indonesia for selling life insurance
Generali Indonesia selects Munich Re Automation Solution’s ALLFINANZ SPARK to streamline the paperless process and enhance the customers’ experience
Covid 19 Pandemic:Generali launches a new system for remote facility inspection for large companies
• Generali Global Corporate & Commercial Iberia & LatAm has developed an exclusive remote facility inspection system available on mobile
• This innovative solution simplifies processes for clients and brokers contingent on Covid pandemic travel bans
• The inspection system has been set up on a permanent basis for risk management and analysis
Australian Bushfires cause insured Losses of S$1.3B: PERILS
The industry loss data cover the peak period for the bushfires which occurred during the turn of the year, said PERILS, noting that the figure is based on detailed loss data collected from the vast majority of the Australian insurance market.
As insurers face hefty pandemic losses,newcomers see chance to step in
A lot of firms are reducing the amounts of business they do in certain types of insurance, creating space for new entrants, said Convex deputy chief executive Paul Brand.Investors’ appetite for higher returns when central banks are putting in trillions of dollars in stimulus is attracting them to insurance.Broker Hyperion estimates around $16 billion in capital has already been raised by insurers this year, compared with $9 billion over the same period last year.
Siberian temperatures hit June record, fires spread: EU data
The World Meteorological Organization is also seeking to confirm reports of a temperature reading of more than 100°F (38°C) in Siberia, which would be the highest temperature recorded north of the Arctic Circle.
“What is worrisome is that the Arctic is warming faster than the rest of the world,” said Carlo Buontempo, director of the Copernicus Climate Change Service.
WHO acknowledges ‘evidence emerging’ of airborne spread of COVID-19
Speaking at Tuesday’s briefing in Geneva, Benedetta Allegranzi, the WHO’s technical lead for infection prevention and control, said there was evidence emerging of airborne transmission of the coronavirus, but that it was not definitive.
“…The possibility of airborne transmission in public settings – especially in very specific conditions, crowded, closed, poorly ventilated settings that have been described, cannot be ruled out,” she said.