Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says:...
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ByteDance asks intern in AI breach case to pay $1.1 million damages
The case has drawn attention due to its focus on AI LLM training, a...
Global D&O trends in 2025: Developed economies to be hit by double-digit insolvencies in 2024, says Allianz
Western Europe leads the global count with 195 cases, a reflection...
NGT rejects MP govt”s plea seeking extension of time for compliance of waste management directions
“They are to enforce the mandate of law laid down under the Water (Prevention & Control of Pollution) Act, 1974, the Air (Prevention & Control of Pollution) Act, 1981 and Environment (Protection) Act, 1986 and Rules framed thereunder and binding directions of the Supreme Court,” the bench also comprising Justice S K Singh said.
Lloyd’s to end investment in coal-fired power plants, coal mines, oil sands by 2022
Bruce Carnegie-Brown, Chairman of Lloyd’s ESG committee and Chairman of Lloyd’s said: “This is the first time we have set an ESG strategy for the Lloyd’s market and it represents an important milestone on the journey towards building a more sustainable future. We have the opportunity to play our part in building back a braver, more resilient world. We recognise that the targets we are setting will be challenging, but will also bring new opportunities. We will work closely with our market and customers to help them plan for these changes as we implement a long-term managed programme towards sustainable, responsible underwriting.”
Insolvencies, Cyber Threats and ESG scrutiny drive 2021 risks for Directors and Officers: Allianz
“Many insurers are still digesting the effect of previous pricing inadequacy and exposure and loss trend increases from prior-year policies,” says Shanil Williams, Global Head of Financial Lines at AGCS.
“This is also at a time of great uncertainty around forward-looking exposure assessments, in particular the impact of Covid-19 on the economy in general and on specific industries. Combined with many ‘known unknowns’ like climate change, cyber risks or environmental, social or governance (ESG) factors, this has created a lot of nervousness in this sector. As a global D&O insurer, AGCS remains committed to working in partnership with our customers to ensure we have sustainable solutions for all parties involved,” said Williams.
Vaccinating the world means solving patent impasse; India has suggestion
The International Federation of Pharmaceutical Manufacturers and Associations argues that suspending patents is fraught with danger. If you waive patents this time round, you risk harming the whole medical infrastructure that allowed Covid vaccines to be developed in record time, said Director General Thomas Cueni.
Lloyd’s, Parsyl to insure emerging market COVID-19 vaccine rollout
The Global Health Risk Facility (GHRF), made up of 14 insurers and reinsurers, has been set up to address the challenges of transporting temperature-sensitive vaccines, and will be supported by $26.7 million in funding from the U.S International Development Finance Corporation, the companies said on Tuesday.
The DFC loan will be used to capitalize a new public-private Lloyd’s syndicate, which will start operating in January, and allow the GHRF to offer cost-effective insurance policies for shipments of vaccines and medical products to developing countries.
Syndicate 1796 is the first public-private partnership to address a global health emergency in Lloyd’s 330-year history, the companies said.
Airlines warned over safety as jets return from pandemic storage
Worried by IATA’s data, insurers are questioning airlines about whether they are doing extra pilot training to focus on landings, said Gary Moran, head of Asia aviation at insurance broker Aon PLC.
“They want to know about the circumstances of the training,” he said.
India is the world’s best market for portfolio disclosure, finds study
India and US earned top grades for their robust disclosure regimes across six categories including fees, transparency of fund holdings and issues such as conflicts of interest. The report covering 26 markets across North America, Europe, Asia and Africa singled out Australia as a notable laggard.
Gmail, YouTube, Google Docs and other services go down in multiple countries
Not much more to update yet but we’re seeing and getting word from others that multiple Google services have gone down. Gmail, YouTube, Google Drive, Google Docs, Maps, Adwords and Adsense, Google Pay, Google Home and Google’s Chromecast are all experiencing outages, with dozens, even hundreds, of reports we’ve seen so far coming in from across Europe, the US, Canada, India, South Africa, countries in Central and South America, Australia and likely more.
From romance scams to phantom PPE, banks battle coronavirus crimewave
In pandemic-related scams banks are hiring more staff to prevent and detect fraudulent transactions, forging closer ties with local and global law enforcement and launching public awareness campaigns, bankers and their advisors told Reuters
BAE Systems Applied Intelligence research suggests U.S. insurance fraud, where scammers seek to dupe insurers on costs incurred as a result of COVID-19 restrictions, has doubled in 2020, so far costing the industry $100 billion.
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Apple CEO calls for stricter corporate, government climate goals at U.N. summit
Cook did not call for specific goals during his remarks but disclosed that Apple is assisting 95 of its suppliers to transition to renewable energy, up from a figure of 70 disclosed in July. The iPhone maker earlier this year said it has become carbon-neutral for its corporate operations and set out plans to make its full supply chain and product lineup carbon-neutral by 2030.