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Port strike will paralyze half of US trade and cargo carriers
Oxford Economics estimated that a strike would cost the US economy...
Marsh McLennan strikes $7.75 bln deal for McGriff Insurance Services
Marsh McLennan said it expects the deal, struck through its Marsh...
9 trends to watch as aviation readies for post Covid-19 takeoff:Allianz
The sudden halt imposed on the aviation industry by the Covid-19 crisis hit the sector hard. In April 2020, two-thirds of the global commercial aviation fleet sat idle on the tarmac, while passenger traffic was down 90% year-on-year. Today, the aviation industry is slowly rebounding, led by domestic travel.
As more aircraft return to the skies, a new report from aviation insurer Allianz Global Corporate & Specialty (AGCS) highlights some of the unique challenges airlines and airports face as they restart operations – ranging from “rusty” pilots to insect infestations. It also identifies a number of ways in which Covid-19 is reshaping the sector, driving long-term changes in fleet composition, flight routes and passenger demand.
South Korea to compensate nurse paralysed after Covid-19 shot
AstraZeneca has been granted protection from product liability claims related to its Covid-19 vaccine by most of the countries with which it has struck supply agreements.
After reports of a rare blood clots associated with the vaccine this year, several countries announced restrictions on its use in younger people.
In Asia, countries including Singapore, Australia, Thailand and Malaysia have financial assistance programmes or set up compensation funds for those who suffer serious side effects from vaccines.
No work, no food: Pandemic deepens global hunger
The World Food Program sounded the alarm further last week in a joint report with the UN’s Food and Agriculture Organization, warning that “conflict, the economic repercussions of Covid-19 and the climate crisis are expected to drive higher levels of acute food insecurity in 23 hunger hot spots over the next four months,” mostly in Africa but also Central America, Afghanistan and North Korea.
Downbeat Indian consumers withhold spending amid pandemic, says RBI survey
“The sentiments on overall spending remained unchanged as higher spending on essential items were offset by a drop in non-essential expenditure with consumers expecting further contraction in discretionary expenditure in the year ahead,” the RBI said.
With forecasters warning of a third wave, any new restrictions could spell more bad news for the country, where private consumption makes up some 60% of gross domestic product.
J&J seeks emergency use nod for COVID-19 vaccine in India
Indian health authorities have so far approved the use of vaccines developed by AstraZeneca, Bharat Biotech, Russia’s Gamaleya Institute and Moderna.
The government and Moderna are still trying to sort out issues over imports of the vaccine and indemnity, a top executive at Indian drugmaker and Moderna’s local distribution partner Cipla told Reuters in an interview on Friday.
COVID-19: India logs 44,643 new cases, 464 fatalities
Cumulative vaccine doses administered so far have reached 49.53 crores under the nationwide vaccination drive.
Moody’s to acquire risk modelling firm RMS for $2 billion
The acquisition will immediately increase Moody’s insurance data and analytics business to nearly $500 million in revenue and will accelerate the development of the company’s global integrated risk capabilities to address the next generation of risk assessment.
With over 400 risk models covering 120 countries, RMS is the world’s leading provider of climate and natural disaster risk modeling serving the global property and casualty (P&C) insurance and reinsurance industries.
DST receives 478 proposals to study effects of yoga, meditation in fighting Covid
”During the year 2020-21, the department had announced a special call under SATYAM programme to combat with COVID-19 and related viruses in order to explore the effect of yoga and meditation as add on therapy under three broad thematic areas viz. immunity, respiratory system and stress, anxiety and depression, Science and Technology Minister Jitendra Singh said on Friday.,” ‘
COVID-19 Pandemic:UK govt partners with Lloyd’s to launch $1 Billion reinsurance scheme to cover music festivals
The insurance will be available from Lloyd’s of London syndicates including Beazley, Hiscox and Munich Re, with the government acting as a reinsurer.
“With this new insurance scheme, everything from live music in Margate to business events in Birmingham can go ahead with confidence,” British finance minister Rishi Sunak said.
Tokyo Olympics cost USD 15.4 billion. What else could that buy?
Olympic costs have been dissected in a study by the University of Oxford, which found that all Games since 1960 have had cost overruns averaging 172%. Tokyo’s cost overrun is 111% or 244% depending on which cost figure you select.