The case revolves around whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000 policyholders and billions of pounds in claims, should cover disruption caused by the virus.

The wordings cover business interruption when insured premises cannot be accessed because of public authority restrictions, in the event of a notifiable disease within a specified radius and hybrid wordings.

Philippines logs 100 deaths, P25 billion losses from recent storms

Nov 16, 2020

The National Disaster Risk Reduction and Managent Council said it has asked President Rodrigo Duterte to declare a state of calamity in the country’s largest island Luzon, home to 53 million people.

The proposal – which will be in addition to an existing state of calamity over the COVID-19 pandemic – allows faster release of calamity funds, the grant of interest-free loans and freezing of prices of basic commodities.

Axa disputes French tax ruling over Luxembourg profit: Media Report

Nov 16, 2020

French fiscal authorities found in 2016 that AXA earned at least 130 million euros ($154 million) of undeclared profit in a structure based in Luxembourg between 2005 and 2010, Mediapart said, citing documents from the French tax office.

Cybersecurity is top business worry in ‘age of risk’: Marsh & McLennan CEO

Nov 16, 2020

“CEOs like to get things done and say it’s finished,” he said. “Cyber is a never-ending phenomenon. It will continue for the rest of all of our careers.”

Climate change and the culture of remote working are the other top risks cited by companies, Glaser said. Climate is less immediate than cybersecurity because it is developing slowly and its impact, through such catastrophic events as larger wildfires and more powerful hurricanes, will increase over the next five years or more.

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