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Panama Canal imposes shipping restrictions to cope with worsening drought
The largest vessels will have to reduce their drafts — how low they...
MS Amlin strengthens Natural Resources team with claims expertise
With more than a decade of industry experience, Erman brings...
Cost of climate-linked disasters soars: United Nations
The economic cost of climate-related disasters hit USD 2.25 billion over the last two decades, an increase of more than 250 percent compared to the previous 20 years, the UN said on Wednesday. The United Nations Office for Disaster Risk Reduction (UNISDR) noted...
India in bottom 15 of Oxfam index on efforts to reduce inequality
The index ranks 157 countries on their policies on social spending, tax, and labour rights.As per the report, countries such as South Korea, Namibia and Uruguay are taking strong steps to reduce inequality. However, countries like India and Nigeria did very badly.
Alphabet shuts Google Plus service after 500,000 users’ data breach
A memo, prepared by Google’s legal and policy staff and shared with senior executives, warned that disclosing the incident would likely trigger “immediate regulatory interest” and invite comparisons to Facebook’s leak of user information to data firm Cambridge Analytica, the WSJ report said
Limiting global warming to 1.5°C requires “rapid & far-reaching” transitions in land, energy, industry, buildings, transport & cities:IPCC
“One of the key messages that comes out very strongly from this report is that we are already seeing the consequences of 1°C of global warming through more extreme weather, rising sea levels and diminishing Arctic sea ice, among other changes,” said Panmao Zhai, Co-Chair of IPCC Working Group I.
China and India lead in Asia’s health protection gap
A report by the reinsurer, titled, “Asia’s Health Protection Gap: Insights for building greater resilience”, shows that both China and India have a high share of out-of-pocket expenses—30% in China and 65% in India—which are much higher than that of mature markets globally at 10-14%. In addition, China and India represent more than 75% of total nontreatment cases in Asia, affecting around 32m households.
Indonesia eyes “catastrophe bonds” as it looks to fund disaster recovery
Suahasil Nazara, who heads the fiscal policy office at the finance ministry, said the strategy would be launched when Indonesia hosts the the annual meetings of the International Monetary Fund (IMF) and the World Bank in Bali later this month
Geopolitical tensions create significant increase in political risk losses up from 2017:Survey
Larger companies were more likely to report using avoidance strategies – among companies with more than $1 billion in revenues, 82% stated that they had scaled back investments, and 86% had avoided future investments. Companies most frequently reported scaling back investments in Nigeria, Iran, Russia and Venezuela.
Collaborative approach between incumbent insurers and InsurTechs gains traction:World InsurTech Report 2018
The report finds that insurance executives across the industry believe that InsurTechs will be a major catalyst to redefine the customer experience, deliver widespread efficiencies, and create new business models. The industry also expects disruption and new competition to come from BigTech[2] companies and manufacturers. This comes in the wake of an InsurTech sector that saw investment increase at a compound annual growth rate of 36.5 percent between 2014 and 2017
Pakistan approves first Islamic reinsurance service
Islamabad: Pakistan’s capital market regulator has granted approval to the country’s sole reinsurer to offer sharia-compliant reinsurance, part of efforts to boost the fledgling Islamic insurance (takaful) sector.The Securities and Exchange...
Indonesia earthquake and tsunami: How warning system failed the victims
Palu – a city in Sulawesi located in a narrow bay – was hit by waves as high as six metres. The surging water brought buildings down and caused widespread destruction. Hundreds of people had gathered for a beachfront festival and it was was a scene of horror as waves powered over the beach – sweeping up everything in their path.