In an exclusive interview with Asia Insurance Post, Teck Siong Ng,...
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Global insured losses from severe thunderstorms reach new all-time high of USD 60 billion in 2023, Swiss Re
Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of...
IFC,DFC and African Risk Capacity launch reinsurance fund to protect African smallholders impacted by climate crisis
Despite these increasing risks, subsidized agri-insurance is only...
Bajaj Auto unions demand factory halt after 250 workers catch COVID-19
Workers and union leaders say Bajaj has taken steps to ensure social distancing on the factory floor and in its cafeteria, besides arranging separated seating on its buses and providing masks and sanitisers for staff. But they say this is not enough.
Germany is first major economy to phase out coal and nuclear power
The plan is part of Germany’s ‘energy transition’ – an effort to wean Europe’s biggest economy off planet-warming fossil fuels and generate all of the country’s considerable energy needs from renewable sources.
Achieving that goal is made harder than in comparable countries such as France and Britain because of Germany’s existing commitment to also phase out nuclear power by the end of 2022.
Audi, EnBW to turn electric car batteries into grid support tools
Electric vehicle battery recycling and reuse has become a priority for car and battery makers while renewable energy companies face the problem of how to absorb surpluses of wind and solar power to avoid waste and disruption to the stability of grids, slowing the transition to purely carbon-free energy systems.
Facebook,YouTube,Twitter to face same EU rules on hateful content as broadcasters
“Online players will have to ensure, in a similar way to traditional media players,that users are protected against hate speech and that minors are protected from harmful content,” the Commission said.
“Online platforms must take action against flagged content, which incites violence, hatred and terrorism, and ensure appropriate advertising and product placement in children’s programmes,” it said.
The non-binding guidelines apply to social platforms where audiovisual content is seen as an essential but not principal part of their business. EU countries, which have until Sept. 19 to implement the rules, will have the final say on the list of companies.
More scarce than opening-night tickets: insurance to back Broadway shows
Right now most insurers, if not all, have come out with a virus or communicable disease exclusion that they’re putting on their policies,” said Peter Shoemaker, managing director of the New York entertainment division at insurance broker DeWitt Stern.
3 new start-ups join Lloyd’s Lab for fast-tracked COVID-19 cohort
The purpose of this is to help Lloyd’s and the start-ups bring to market more quickly their COVID-19 related products and innovations. Lloyd’s wants to understand, model and create products that better protect customers against pandemics, and other systemic risks.
International flights suspended till July 31; may exempt some routes: DGCA
Modifying its June 26 circular that stated that scheduled international passenger flights will remain suspended till July 15, 2020, the regulator stated on Friday it has decided to extend the deadline to July 31, 2020.
However, international scheduled flights may be allowed on selected routes by the competent authority on a case to case basis,” said the circular by the Directorate General of Civil Aviation (DGCA).
Domestic airlines need $3-3.5 bn funding amid subdued travel demand: CAPA
‘Discretionary travel has been limited as reflected in the fact that more than 90 per cent of bookings have been for one-way travel, compared with 40 per cent prior to Covid-19,” the report stated.
The pent-up demand for traffic has proven to be less than expected, largely due to inconsistent and confusing state-wise quarantine requirements, which have regularly changed, the report said, adding that with the number of daily new Covid-19 cases in India accelerating, consumer confidence is weakening.
Traffic in metros has been impacted more significantly than non-metro traffic, primarily because metros have seen the largest outbreaks of the disease and are considered to be higher risk, said the report.
GIC Re unveils strategies to overhaul its financials and ratings,domestic exposure to Covid-19 claims extremely limited
“We have already addressed the the key issues within our control of profitability and portfolio size We have taken further action to strengthen our balance sheet by increasing our outwards reinsurance purchases on the domestic portfolio by 37.5 percent, growing in size from USD 2.1 billion for 2019-20 to USD 2.7 Bn for 2020-21, using high credit quality retro-cession counter parties,”said GIC Re
Allianz CEO sees business recovery in 2021 after coronavirus impact
Allianz may need a third less office space in the long term, he said. Travel costs could be cut by half. The company’s life insurance segment has held up despite the lack of personal contact between advisors and customers during the crisis. “You will be surprised how well business is developing”, said CEO Oliver Baete