Forthcoming insolvency warnings are among the top concerns for the D&O insurance sector as insolvency is a key cause of D&O claims – insolvency administrators usually look to recoup losses from directors.

According to Euler Hermes, the bulk of insolvencies is still to come through the first half of 2021, with its global insolvency index likely to hit a record high for bankruptcies, up 35% by end of 2021, and with top increases expected in the US, Brazil, China and core European countries such as UK, Italy, Belgium and France.

Launch of the first parametric tropical cyclone insurance product in Africa

Dec 23, 2020

The African Risk Capacity (ARC) Group(ARC) has developed a model capable of correctly estimating the risk and economic losses resulting from tropical cyclones, which is suitable for SOOI countries, such as Mozambique, Madagascar, Comoros, Mauritius, Seychelles and Tanzania.
“Our goal is to continue to diversify our insurance product offering in order to effectively meet the needs of our Member States. This new offer will allow our Member States to better anticipate and manage extreme weather events while ensuring that the impact of such events on the population is mitigated, ” said Ibrahima Cheikh Diong, Deputy Secretary General of the United Nations. and Chief Executive Officer of the Panafrican Mutual of Risk Management Group ( ARC Risk Capacity Group ).

AstraZeneca says its vaccine should be effective against new coronavirus variant

Dec 23, 2020

“AZD1222 (AstraZeneca’s vaccine candidate) contains the genetic material of the SARS-CoV-2 virus spike protein, and the changes to the genetic code seen in this new viral strain do not appear to change the structure of the spike protein,” an AstraZeneca representative said in an email.
India is likely to approve Oxford/AstraZeneca’s coronavirus vaccine for emergency use by next week after its local manufacturer submitted additional data sought by authorities, two sources with knowledge of the matter told Reuters on Tuesday.

UK identifies new South African coronavirus variant tightens lockdown

Dec 23, 2020

Like the UK variant identified earlier, the new variant of the novel coronavirus is also driving a massive resurgence of the disease in South Africa, with experts warning the country is probably facing a much larger second wave.

“Both cases of the new variant are contacts of cases who have travelled from South Africa over the past few weeks,” Hancock said, addressing a briefing from 10 Downing Street.

“This new variant is highly concerning because it is yet more transmissible and it appears to have mutated further than the new variant that has been discovered in the UK,” he said.

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