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International
35 Killed, hundreds injured after strong Quake in Indonesia’s Sulawesi
The powerful quake struck 6 km (3.73 miles) northeast of the town of Majene, at the relatively shallow depth of 10 km, just before 1.30 a.m., sending thousands of frightened residents out of their homes and fleeing for higher ground.
The earthquake and aftershocks caused three landslides, cut electricity, damaged bridges to regional hubs such as the city of Makassar, and damaged more than 60 homes, two hotels and the provincial governor’s office, where at least two people were buried under rubble, authorities said.
Initial information from the national disaster mitigation agency showed that 637 people had been injured in Majene, and two dozen in Mamuju.
No tsunami warning was issued but the head of Indonesia’s Meteorology and Geophysics Agency (BMKG), Dwikorita Karnawati, told a news conference that aftershocks could follow, with a possibility that another powerful quake could trigger a tsunami.
UK Supreme Court hands businesses victory in COVID-19 insurance ruling
Six of the world’s largest commercial insurers — Hiscox, RSA, QBE, Argenta, Arch and MS Amlin — said many business interruption policies did not cover widespread disruption after Britain’s first national lockdown last March.
But senior judges said payouts should be triggered after scrutinising 14 non-damage insurance policy clauses — which cover disease, denial of access to business premises and hybrid clauses — in a resounding victory for policyholders and the regulator.
Reeling from coronavirus, Asia’s poultry farmers battle bird flu outbreak
Market conditions harden further at January 2021 Renewals
Capital injections of over USD20 billion and a recovery in financial markets helped to maintain the reinsurance capacity at the levels of early 2020, proving the resilience of the market, Fitch.
The question now is how sustainable the price increases are. In the run-up to the renewals, reinsurers were optimistic of prolonged market hardening, but some are now less sure they are right:S&P
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