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Ukraine hopes grain exports to continue from key ports
“The main task for Ukraine now is to get the support of Turkey,”...
Bain Capital raises $1.15 bln for first fund dedicated to insurance investments
Matt Popoli, global head of Bain Capital Insurance, told Reuters...
Insured losses from California Wildfire Between $6 bn and $9 bn: AIR Worldwide
The fact that damage from fire, including wildfire, is included in standard homeowners’ policies in California informs the assumption of nearly 100% take-up rates. The range of loss estimates is based on the modeled loss within the burn scar and reflects uncertainty in the payment of additional living expenses resulting from mandatory evacuations, loss of some individual structures outside of the most affected neighborhoods, extra expense and ordinance losses, as well as loss due to smoke, loss of electricity, and damage from suppression efforts.
Actuaries face uncertainty amid encroachment by Data Scientists
Seasoned actuaries often earn more than $200,000, and the field perennially ranks near the top of “best career” surveys. A Bankrate.com survey from this summer called actuarial science the most valuable bachelor’s degree based on pay and employment. However, industry conventions are rife with warnings that data scientists are encroaching on actuaries’ turf, and that their lack of speaking skills keeps them locked in bookish roles at insurers.
Self-Driving Vehicle Regulation Bill gets late push in US Senate
Under the legislation, automakers would be able to win exemptions from safety rules that require human controls. States could set rules on registration, licensing, liability, insurance and safety inspections, but not set performance standards.
Early diagnosis of disease to drive future life expectancy, Swiss Re
Digital health tools like telemedicine and wearables can play an important role in driving future mortality improvement. These technologies not only improve access to care but also encourage healthcare markets to compete for lower, more affordable options.
Marriott Data Breach highlights `Silent Cyber Risk’ in acquisitions
Hotels are especially vulnerable to security breaches, because many still swipe credit cards at check-in rather than implement chip readers, said Brian Krebs, a cybersecurity expert. Last year, he said, both Hyatt Hotels Corp. and the Trump hotels collection had security breaches and in 2016, he uncovered similar breaches at InterContinental Hotels Group.
California takes over insurance company unable to pay claims after wildfire
Moody’s last week estimated total insured losses at $10-$15 billion from the Camp Fire and the Woolsey fire, which was burning at the same time in the foothills above Malibu in southern California.
World Bank Promises USD 200 Bn In 2021-25 Climate Cash
“If we don’t reduce emissions and build adaptation now, we’ll have 100 million more people living in poverty by 2030,” John Roome, World Bank senior director for climate change, warned.
Nations must triple efforts to achieve Paris climate accord target: Study
The report, released ahead of the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24), shows global emissions have reached historic levels at 53.5 GtCO2e (gigatonnes of equivalent carbon dioxide), with no signs of peaking.
Researchers assessed that only 57 countries (representing 60 per cent of global emissions) are on track to do so by 2030
Boeing eyes Lion Air crash software upgrade in 6-8 weeks
“As part of our standard practice following any accident or incident, we examine our aircraft design and operation, and when appropriate, issue bulletins and make recommendations to operators to further enhance safety,” a Boeing spokeswoman said.
Lion Air’s 737 MAX was plane not ‘airworthy’
The safety committee’s findings will heighten concerns there were problems with key systems in one of the world’s newest and most advanced commercial passenger planes.