China’s Inner Mongolia, the autonomous region, a favourite among the industry because of its cheap power, also banned new digital coin projects, according to a draft plan posted on the Inner Mongolia Development and Reform Commission’s website February 25.
The aim is to constrain growth in energy consumption to about 1.9 per cent in 2021.

Brexodus from City of London to the EU slows

Mar 2, 2021

Financial services are not included in the EU-UK trade deal that came into effect on Jan. 1, largely cutting off the City from the EU.

“After the major hurdle of standing up new EU hubs, the days of significant swathes of asset and job relocation announcements appear to have passed and will likely be replaced by the slower yet ongoing movement of people and assets to Europe for compliance purposes,” Omar Ali, a financial services managing partner at EY, said.

UK business interruption insurance anguish far from over

Mar 2, 2021

The Financial Conduct Authority (FCA) said the case could affect 370,000 policyholders and 60 insurers, with the potential for billions of pounds in claims.

Many small businesses had policies that enabled them to claim a maximum of 50,000-100,000 pounds for disruption caused by the pandemic and subsequent lockdowns.

Munich Re partners with Google Cloud and Allianz for Cyber Insurance

Mar 2, 2021

The joint offering, achieved by linking technology with insurance know-how and facilitating the sharing of in-depth data, brings a new level of maturity to the market.

Munich Re and AGCS have developed the Cloud Protection + policy exclusively for Google Cloud customers.

The policy will initially be offered to Google Cloud customers in the United States and will be available to organisations with revenues of between US$ 500m and US$ 5bn. At a later stage, the scope will be extended to include organisations in other revenue segments and countries.

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