A bottle of Cold Out purchased at a pharmacy in Baghdad in March...
Category:
International News
Latest
Global economic cat losses at $ 110 billion, insurance claims of $43 billion in H1 2023
Thomas Blunck, member of the Board of Management In the...
Ship carrying nearly 3,000 cars ablaze off Dutch coast, crew member dead
“The fire is most definitely still not controlled. It’s a very hard...
Japan to suffer minimum $10bn economic loss from Typhoon Hagibis, according to Aon catastrophe report
Steve Bowen, Director and Meteorologist within Aon’s Impact Forecasting team, said: “Vulnerabilities around tropical cyclones, flooding, and wildfires were again exposed during October. Events such as Typhoon Hagibis in Japan and wildfires in California served as a reminder of the repetitive, or clustering, nature of certain perils on a year-to-year basis that can often be hard to predict. With ample exposure located in high-risk locations all around the world, it becomes increasingly important to utilize the latest tools available to better prepare for future weather and climate-related scenarios in both mature and developing markets.”
Global debt load surges to new all-time record high of $188 trn: IMF chief
“The bottom line is that high debt burdens have left many governments, companies, and households vulnerable to a sudden tightening of financial conditions,” IMF chief Kristalina Georgieva warned Thursday.
EU Rules for responsible investing to be set for Insurers, Asset Managers in 2021
Financial firms which claim to pursue a green or social investment strategy will have to detail the impact of their investments, disclosing any that could pollute water, damage bio-diversity or cause large layoffs for example
Aon & partners deliver pay-outs with first Blockchain-Based Agricultural Insurance Policies for smallholder farmers in Sri Lanka
After the coordinated launch earlier this year with 200 farmers enrolled who are at risk of losing their crops due to extreme weather, the system made pay-outs to farmers in this initial operations phase. The companies will now move forward by seeking solutions to some of the challenges identified in the next phase of the project as cropping season starts in November. The main goals of this follow-on phase are to refine the system’s efficiency and scale the number of farmers who will benefit from the microinsurance
Wall Street increasingly weighs risk from climate change
The increase in wildfires has prompted underwriters, such as Hiscox Ltd to incorporate new risks models and stop insuring some clients in high-risk areas such as California.Overall, 10% of insurers refused to renew policies in wildfire-prone areas in California in 2018, according to the California Department of Insurance.
New FDA warning letters show Indian drug makers’ quality concerns persist
The latest regulatory crackdown shows US regulator’s stance is hardening toward lapses in quality control even as it seeks cheaper drugs to contain health care costs. Indian pharmaceutical factories collectively produce about 40 per cent of the American generic drug supply and have been faulted in the past by the FDA for everything from lax documentation to open toilet drains and malfunctioning equipment.
Swiss Re may invest in a possible primary offering of CPIC’s securities
No definitive agreement has been entered into between Swiss Re and CPIC. Any securities offering by CPIC remains subject to various contingencies, including CPIC’s decision to proceed with any such offering.
US woos Asia with plan to rival China’s ‘Belt and Road’
The plan announced at a US business forum in Bangkok is meant to rival China’s own multibillion dollar “Belt and Road” infrastructure program.
Q3 non-life ILS capacity at near-record high of $27.3 billion:Willis Re
The ILS sector has reached a dynamic equilibrium and is well positioned for growth. Alternative capital in all its forms is clearly growing again, notwithstanding the losses and related loss creep of the past several years. This rising tide will not raise all ships, however. Some managers, sectors, and strategies have outperformed, and are now benefitting as a result, while others remain under stress
India pulls out of RCEP, paves way for 15 nations to sign China-backed deal
India conveyed its decision to exit the Regional Comprehensive Economic Partnership, or RCEP, foreign ministry official Vijay Thakur Singh told reporters in Bangkok on Monday. Prime Minister Narendra Modi highlighted that he was guided by the impact it would have on the lives and livelihoods of all Indians, especially vulnerable sections of society, she said.