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Bridge Specialty International launches with the rebrand of Lonmar Global Risks
Bridge Specialty Group, a global wholesale and specialty insurance...
IRDA asks general insurers not to report premiums and commission for long term policies at one go
``Currently, only long-term Motor Third Party (TP) premium is...
U.S. Olympics suing insurers for holding up Nassar settlement talks
Larry Nassar sexual abuse scandal.Committee Chair Susanne Lyons accused insurers including 11 insurers, including units of Chubb Ltd and American International Group Inc, of holding up settlement negotiations with the hundreds of women who were abused by disgraced former USA Gymnastics national team doctor Nassar
J&J pauses COVID-19 vaccine trials due to unexplained illness in participant
J&J’s move follows a similar one by AstraZeneca Plc. In September, AstraZeneca AZN.L paused late-stage trials of its experimental coronavirus vaccine, developed with the University of Oxford, due to an unexplained illness in a UK study participant.
Mumbai hit by massive power outage
The failure was caused by “technical problems” during maintenance work, the energy minister of Maharashtra said in a video message. Power has now been restored to many areas of the city, officials and witnesses said.
The state government has asked the suppliers to provide uninterrupted power to hospitals, many of which are treating COVID-19 patients.
Hospitals and other institutions in India have over the years banked on emergency diesel power generators as a backup due to frequent outages caused by demand outstripping supply, though the situation is improving now.
As globe gallops into vaccine trials, insurers remain unfazed
While more than 40 experimental COVID-19 vaccines are being tested on humans, the insurance companies with decades of experience in assessing the risks of clinical trials don’t see anything to be unduly concerned about.
Executives at insurer Allianz and brokers Gallagher and Marsh, among the leading players in clinical trials insurance, told Reuters that premiums had only marginally increased so far in the current pandemic
Maha CM orders probe into power outage in Mumbai
Thackeray instructed Brihanmumbai Municipal Corporation (BMC) Commissioner Iqbal Singh Chahal to make alternate arrangements so that power supply to hospitals is intact, the statement said.
He also directed the state chief secretary to ensure that the control rooms and fire brigade are on alert to see there are no other mishaps due to power outage, it said
Lloyd’s of London reviews insurance contracts due to COVID-19
“The insurance industry must urgently reassess how it can better serve and support its customers,” Lloyd’s Chief Executive John Neal said in a statement.
Lloyd’s recommendations for simpler products including insurers carrying out a “linguistics review” of policy documents, investing in new products such as parametric insurance which pay out immediately when specific triggers are hit, and involving customers in product design.
Container shipping group CMA CGM resumes online services after cyber attack
In a separate incident, U.N. shipping agency the International Maritime Organization (IMO) said on Oct. 1 that its website and intranet had been disabled by a sophisticated cyber attack and its IT specialists had shut down key systems to prevent further damage.
Novel coronavirus can last 28 days on glass, currency, Australian study finds
CSIRO researchers found that at 20 degrees Celsius (68 degrees Fahrenheit) the SARS-COV-2 virus remained infectious for 28 days on smooth surfaces such as plastic banknotes and glass found on mobile phone screens. The study was published in Virology Journal.
“It really reinforces the importance of washing hands and sanitising where possible and certainly wiping down surfaces that may be in contact with the virus,” said the study’s lead researcher Shane Riddell.
By comparison, Influenza A virus has been found to survive on surfaces for 17 days.
Only 1 in 4 global orgs keep Cardholder Payment Data Secure: Report
Payment data remains one of the most sought after and lucrative targets by cybercriminals with 9 out of 10 data breaches being financially motivated, as highlighted by the recent Verizon Business 2020 Data Breach Investigations Report (2020 DBIR). Within the retail sector alone, 99 percent of security incidents analyzed by the 2020 DBIR were focused on acquiring payment data for criminal use.