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Supply chain risks spur demand-bulge for business interruption coverage: WTW Survey
“From multiple geopolitical tensions to ongoing inflationary...
Buffett’s Berkshire posts $35.5 bln profit, buys back more stock
Warren Buffett Those results benefited from Geico snapping a...
Almost Half of South Asia Vulnerable to Climate ‘Hotspots’: World Bank
More than 800 million people now live in areas predicted to become moderate-to-severe “hotspots,” or affected areas, by 2050 under the carbon intensive scenario, with India accounting for almost three-quarters of them, the report said
Climate Change:Swiss Re stops covers for businesses with 30% thermal coal exposure
It is a further step in refining Swiss Re’s approach to managing carbon-related sustainability risks and supporting the transition to a low-carbon economy.The thermal coal policy applies to both existing and new thermal coal mines and power plants, and is implemented across all lines of business and Swiss Re’s global scope of operations.
Chinese tech firms seek to shake up state-Run health sector with AI and Big Data
Alibaba’s push into healthcare reflects a wider trend in China, where technology firms are racing to shake up a creaking state-run health sector and take a slice of spending that McKinsey & Co estimates will hit $1 trillion by 2020.
EU Will Not Ease Post-Brexit Market Access for UK Insurers, Banks: Official
City of London institutions have already scaled back expectations of continued full access to the EU from Britain once any transition period ends, or that a novel, bespoke trade deal can be agreed.
Amazon to Buy Online Pharmacy Startup PillPack as Entry Into Health Care
The pact follows months of speculation about Amazon’s plans to get into the pharmacy or drug-distribution business. Despite the retailer’s vast reach, getting into prescription drugs presented a daunting logistical challenge in terms of licensing and dealing with a range of private and government payers.
China’s State-Run Insurance Funds feel strain of Baby Boom
The cash crunch is the result of a baby drive by Chinese officials worried that a rapidly aging population poses a threat to economic growth. China eliminated the one-child policy in 2016 after almost four decades and since then almost every province has extended terms of maternity leave to encourage women to have more children.
Auto Supplier Bosch Teams with Startup Mojio to Connect Vehicles to Digital Services
“By getting access to an incredible amount of [vehicle] data, including very accurate crash detection data with Bosch, we should be able to save lives and make the insurance claims process more effective,” said Mojio Chief Executive Officer Kenny Hawk
Malaysia Expected to Give Foreign Insurers More Time to Cut Local Stakes
The central bank has been urging overseas insurers to reduce their holdings in Malaysian units to no more than 70 percent as it more strictly enforces ownership limits. The regulator earlier gave these firms until June 30 to cut their stakes, people familiar with the matter said last year
Lloyd’s CEO Inga Beale to leave in 2019
Inga joined Lloyd’s in January 2014. Since then, her commitment to transformation across the market, and within the Corporation, has led to significant cultural change and the adoption of new technology that has accelerated the market’s modernisation and digitalisation.
Chubb enhances Cyber incident response capabilities globally
“The combination of Chubb’s new incident reporting capabilities and the partnership with Spill allows us to provide expert assistance even faster than before to customers affected by a cyber breach, meaning we can process claims quicker and help limit any further problems”