The new product Bounce is designed to provide New Zealanders with affordable earthquake insurance and fast claims payments, to support customers’ needs following an earthquake and quickly cover immediate expenses incurred. It does this by tracking Peak Ground Velocity (PGV) which triggers payment at levels of 20 centimetres per second and above.

Danish Red Cross launches world’s first cat bond for volcanic eruptions

Mar 23, 2021

Sponsored by the Danish Red Cross with support from insurance group Howden Group Holdings, the cat bond catastrophe bond aims to transform the way disaster aid is activated and deployed by mobilizing humanitarian assistance from global capital markets.

The cat bond aims to raise up to $3 million from investors for aid in the aftermath of an eruption. Initial investors are three insurance linked securities (ILS) specialists, Plenum Investments, Schroder Investment Management and Solidum Partners.By using advanced modeling developed by Mitiga Solutions and blockchain technology developed by Replexus, the bond will raise humanitarian funds in advance, and allow aid to be released more quickly and effectively while offering uncorrelated returns for investors.

Advanced nuclear reactors no safer than conventional nuclear plants, says science group

Mar 22, 2021

“In many cases, they are worse with regard to … safety, and the potential for severe accidents and potential nuclear proliferation,” said Lyman, author of the report UCS released Thursday called “‘Advanced’ Isn’t Always Better”.

Facebook fails in bid to derail $15 billion privacy suit

Mar 22, 2021

US wiretap law makes it illegal to snoop on electronic communications unless one is a party to the exchange.

The suit accuses Facebook of wrongly tracking users away from the social network, then making money from the data by selling it to marketers for targeting ads.

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