“Our objective remains to ensure that slow payment does not exacerbate financial pressures on policyholders,” the letter from Interim Chief Executive Christopher Woolard said, adding that the FCA could use its regulatory powers if it thought insurers were acting too slowly.

The lawsuit has attracted a lot of attention because it is estimated to affect 370,000 businesses, 60 insurers and billions of pounds in insurance claims.

Businesses call on U.S. insurers to ditch fossil fuel underwriting

Sep 19, 2020

“The insurance industry is underwriting and investing in fossil fuels which we now know are the key drivers of climate change,” they said.”As insurance customers, we are therefore expressing our desire for insurance coverage in the U.S. market that isn’t tied to supporting fossil fuels and actively supports renewable energy.”

U.S. insurers reported almost $7 trillion in cash and invested assets, according to the National Association of Insurance Commissioners.

Covid-19 may lead to decline in life expectancy globally, study finds

Sep 19, 2020

At prevalence rates of only 2 per cent, the disease could cause a drop in life expectancy in countries where average life expectancy is high — roughly around 80 years.

At 10 per cent prevalence, the loss in life expectancy is likely to be above one year in high life-expectancy countries such as those in Europe and North America,

At 50 per cent, it would translate into three to nine years of life lost in high life-expectancy regions. In less developed regions, the impact is smaller given that there is already lower survival at older ages.

Russia approves 1st COVID-19 prescription drug for sale In pharmacies

Sep 18, 2020

R-Pharm’s announcement is another sign Russia is pushing hard to take a global lead in the race against the virus. It is already exporting its COVID-19 tests and has clinched several international deals for supplies of its Sputnik-V vaccine.

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