"Inflation remains elevated," the rate-setting Federal Open Market...
Category:
International News
Latest
UK watchdog sets three-month deadline to improve car insurance
The Financial Conduct Authority (FCA) said on Wednesday it had...
Miller expands reinsurance offering with establishment of new APAC treaty team
Ron Whyte, Head of Miller Asia, said: “APAC is a central pillar of...
EU states step in where trade credit insurers fear to tread
Without insurance, companies can be reluctant to buy or sell goods or services to others, with a rise in insolvencies expected among European firms forced to halt operations due to lockdowns aimed at slowing the coronavirus pandemic’s spread.
Atradius, which like rivals Coface and Euler Hermes sells protection to companies against the risk of default by their customers, forecasts a 2.1% rise in insolvencies in western Europe this year, compared with a 0.2% fall in 2019.
Apr1 renewals:Indian market sees Covid-19 exclusions,buyers suffer risk losses,says Willis Re
On the impact of situation triggered by caronavirus pandemic on the renewals in the Indian market, the report says reinsurers showed caution and added the exclusion wording, which was accepted by buyers as primary policies were not exposed, said the report..
Trump says coronavirus guidelines may get tougher; 1 million Americans tested
President Donald Trump said on Monday that federal social distancing guidelines might be toughened and travel restrictions with China and Europe would stay in place as he urged Americans to help fight the coronavirus with tough measures through April.Trump, speaking to reporters at the White House, said more than 1 million Americans had been tested for the coronavirus, which he called a milestone.
“$35-bn liability in June quarter over COVID-19: Airlines” body
“On top of unavoidable costs, airlines are faced with refunding sold but unused tickets as a result of massive cancellations resulting from government-imposed restrictions on travel. The second quarter liability for these is a colossal $35 billion. Cash burn will be severe,” the International Air Transport Association (IATA) said on Tuesday.
Covid -19 claims to hit Munich Re’s Q1 profitability
Caronaviris Pandemic : Recession for world economy; India, China likely exceptions: UN
“Even so, the world economy will go into recession this year with a predicted loss of global income in trillions of dollars. This will spell serious trouble for developing countries, with the likely exception of China and the possible exception of India,” the UNCTAD said.
China delays college entrance exam as fears grow over risk of coronavirus second wave
Last week, a study in British medical journal the Lancet Public Health recommended that China extend school and workplace closures, since an earlier relaxation of curbs could bring a second peak in the outbreak by August.
How Coronavirus crisis has changed underwriting at Lloyd’s of London
With the closure of the underwriters’ floor, the world’s leading commercial insurance market, Lloyd’s – which started life in Edward Lloyd’s’ coffee house in 1688 – has gone fully online for the first time.
South Korean isurers hit hard by evaporating investment returns
As if they needed another headache, insurers are also having to cope with indebted Korean households increasingly scrimping on insurance. The Korea Insurance Research Institute sees sales of new life insurance products dropping for a fourth straight year in 2020.
China defends against incoming second wave of coronavirus
In the last seven days, China has reported 313 imported cases of coronavirus but only six confirmed cases of domestic transmission, NHC’s data showed.