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Global rules leave Crypto firms with no place to hide: G20 Watchdog
The European Union has already approved the world’s first...
Swiss investor group lawsuit to seek compensation over UBS-Credit Suisse deal
Hundreds of claims have also been filed by holders of Credit...
Global accounting body proposes one-year delay to insurance rule
“While it is good that the IASB Board has at last recognised the need to consider improvements and a delay to IFRS 17… one year is simply not enough time to both fix the problems with IFRS 17 and to give insurers enough time to implement the standard properly,” said Olav Jones, deputy director general of Insurance Europe, an industry body.
India & China may record 10.50% medical inflation in 2019:Willis Survey
Insurers blame the high cost of medical technology and the overuse and over prescribing of services as the major cost-driving factors, and caution that soaring hospital/inpatient and pharmacy costs will become significant factors over the next five years.
India ranks 2nd last in pension schemes, Netherlands, Denmark on top: Study
Measuring 34 pension systems (34 countries), the Index showed that the Netherlands and Denmark (with scores of 80.3 and 80.2, respectively) both offer A-Grade world-class retirement income systems with good benefits — clearly demonstrating their preparedness for tomorrow’s ageing world. Meanwhile, countries with the highest value for the adequacy sub-index are Germany (79.9) and France (79.5) with Mexico (37.3) and India (38.7) having the lowest values.
After Google, Facebook scraps forced arbitration in sexual harassment cases
The technology industry, known for its groundbreaking products as well as its trendsetting office culture, has gone to considerable lengths in recent years to keep work-force disputes out of the court system. Forcing employee complaints into arbitration has become as common as free lunches and shuttle buses to the office.
Insurtech:Number of insurance patents filed jumps 40% in a year
RPC says that insurance patents filed last year were for innovations as diverse as the use of a system that checks whether a self-driving car is operating autonomously and switches between insurance policies automatically, and a mobile app to speed up the claims process for people affected by natural disasters.
Baby boom for some nations, bust for others: study
Ninety-one nations, mainly in Europe and North and South America, weren’t producing enough children to sustain their current populations, according to the IHME study.But in Africa and Asia fertility rates continued to grow, with the average woman in Niger giving birth to seven children during her lifetime.
Italy’s Generali to stop insuring new coal plants
Generali’s action, which comes ahead of a United Nations climate change conference in Poland in December, is the latest by a big insurance company that targets the coal industry as part of efforts move towards a lower carbon economy.In late 2017, French insurer AXA said it planned to disinvest further from the coal industry. Others that have taken steps include Scor, Swiss Re and Zurich Insurance.
Superbugs to ‘kill millions’ by 2050 unless countries act
As humans consume ever more antibiotics – either through prescriptions or agriculture and livestock products given medicines to stave off infection – strains of bacteria are developing that resist the effects of drugs designed to kill them.
Chinese big data industry boosts futuristic start-ups
One of the systems being supported by the big data industry is a smart judiciary assistant that can quickly scan through past judgments and case details to pull out relevant legal points, helping judges to arrive at decisions much faster.The project, being piloted in Guiyang, the capital city of Guizhou, can also help citizens know if they are likely to win a case.”If you are hit (in a road accident) and you want to take the case to court, with the smart assistant you can get an idea if you will win the case,” said He Yuan, general manager of China Big Data, one of the biggest big data companies in the area.
Google hears protesters, changes sexual harassment policies
Arbitration will become optional for individual sexual harassment and sexual assault claims, Google said, enabling lawsuits on those matters. It also said employees who fail to complete mandatory sexual harassment training will be docked in performance reviews.