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Hong Kong 1-in-500 yr flood likely to have an earnings impact, may further pressure reinsurance renewals
The impact on reinsurance pricing, which is already elevated, could...
Blockchain analysts suspect North Korea-linked hackers behind $70 million crypto theft
CoinEx, which says it is based in Hong Kong, said on Tuesday on...
Coronavirus cases top half a million, protective gear lacking – WHO
Tedros, without giving specifics, thanked “various national organisations” that had provided what he called critical cyber intelligence after a rise in online scams and cyber attacks on the U.N. agency and on himself,Tedros Adhanom Ghebreyesus, WHO director-general
Casino gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL
The Chickasaw lawsuit is the second in more than a week in which a business has asked a court to declare that the coronavirus is a type of “direct physical loss or damage” that would require insurers to pay for lost revenue.
Coronavirus Rescue Bill includes $250 billion to expand unemployment insurance
About $500 billion in direct payments to people, in two waves of checks of up to $1,200 each. Additional payments for families with children could push the total to $3,000 for a family of four, according to Treasury
As Coronavirus threatens gig workers, Uber presses for new worker classification
Uber Chief Executive Dara Khosrowshahi on Monday urged U.S. legislators to use the current crisis as an opportunity to implement changes to existing employment law by creating what the company calls a “third way” in between employment and contractor status.
Willis Towers Watson develops new feature for tracking pandemic cases against P&C clients’ global assets
“Asia is at a more advanced phase of the COVID-19 pandemic. After months of managing the outbreak and impact of the coronavirus here, there are encouraging indications that some countries in the region are controlling the spread of the virus, whilst others are showing signs that they are commencing the recovery process. This presents an opportunity for organisations to track the receding virus in these geographies and commence planning for the resumption of business operations as soon as it is practical. The new COVID-19 feature in the tool will be beneficial in assisting our clients and facilitate this process,” added Vince Mossfield, Liability Practice Head, Risk & Analytics Asia, Willis Towers Watson.
Ageas is first UK insurer to use AI to create end-to-end car damage assessments and estimates
Adrien Cohen, co-founder at Tractable, said: “Ageas using Tractable’s AI to generate end-to-end estimates is a breakthrough for the insurance sector worldwide. By harnessing AI at the beginning of the claims process to assess damage and generate estimates, we accelerate every part of it, creating efficiencies for the insurer and greater clarity for the policy holder. With this partnership with Ageas, computer vision is today making a positive difference for people in the real world, by helping them recover from accidents faster.
GIC Re’s Lloyd’s Syndicate breaks even in the first full year of ops,total prm at £64.57mn in 2019
Set up in April 2018, the “GIC 1947’’ Syndicate had mobilised a total premium of £64.57 million in 2019. The Syndicate had managed a combined ratio of 97.95 per cent during the year as against a combined ratio of 102.1 per cent reported by the Lloyd’s of London. in 2019,
Federal officials reach deal on $2 trillion aid package
The unprecedented economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a USD 367 billion program for small businesses to keep making payroll while workers are forced to stay home.
Amid worsening pandemic, Trump pushes to re-open U.S. for business by Easter
The president said the country did not take drastic measures to fight car crashes and flu deaths similar to those it is taking for the coronavirus. He said Americans could continue practicing social-distancing measures, which health experts say are crucial to prevent infection, while also going back to work.
“We lose thousands and thousands of people a year to the flu. We don’t turn the country off,” Trump said. “You can destroy a country this way by closing it down.”
China’s symptom-free coronavirus carriers raise fears of new wave of infections
Despite recording zero new infections from March 18 to March 22, the COVID-19 hotspot city of Wuhan disclosed on March 20 that one newly diagnosed case was not included in the official data because the patient, a 62-year old man surnamed Zhang had shown no symptoms.