Cities need insurance to protect against claims in the event of accidents on municipal properties or roads, and to deal with risks including cyber attacks and natural disasters – so forgoing coverage is not an option.
Accident-related lawsuits against cities and settlements have risen alongside cyber attacks and natural disasters, both domestically and globally, even as bond yields have slid, resulting in more stringent underwriting standards and higher premiums around the world.

South African farmers dream of drought cover on climate front line

Jul 16, 2021

Now a plan has been formulated by insurers and the government for a 3.2 billion rand ($223 million), 10-year state subsidy scheme aimed at fixing the market’s problems, according to a South African Insurance Association (SAIA) document seen by Reuters that outlines the previously unreported proposals.

Work from home fueling cyberattacks, says global financial watchdog

Jul 16, 2021

“Most cyber frameworks did not envisage a scenario of near-universal remote working and the exploitation of such a situation by cyber threat actors,” the FSB said in a report to G20 ministers and central banks.The report is a first take on lessons learned from the pandemic’s impact on financial stability.

Seafarers’ slow Covid-19 vaccinations endanger maritime workers, hit global trade

Jul 16, 2021

The shipping industry is sounding the alarm as infections increase and some ports continue to restrict access to seafarers from developing countries that supply the majority of maritime workers but can’t vaccinate them.

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