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International
From Africa to America, businesses and insurers face survival showdowns
Businesses around the world, hamstrung by lockdowns, are facing often-existential showdowns with insurance companies that are reluctant to pay out on business interruption policy claims for a disaster unknown in living memory.
The insurers say many such policies exclude pandemics, require physical damage on premises or do not apply to the widespread lockdowns seen globally. Facing pressure from regulators, mounting reputational damage and a wave of lawsuits, they warn that paying out could sink their industry.
In some countries, including South Africa, France and Germany, insurers are now opening their chequebooks. But for many customers, these settlements or ex-gratia payments – voluntary payouts that do not imply legal liability – fall short.
Blow to WHO? EU clinches first Covid-19 vaccine deal with AstraZeneca
The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal included an option to purchase 100 million additional doses from the British drugmaker should its vaccine prove safe and effective.
The EU’s bilateral deal mirrors moves by the United States and other wealthy states, some of which are critical of the WHO’s initiative, and further reduces the potentially available stock in the race to secure effective Covid-19 vaccines.
The EU move could complicate efforts led by the WHO and GAVI, a global alliance for vaccines, to buy shots on behalf of rich and developing countries with a separate scheme.
The Commission has urged EU states to shun the WHO-led initiative because it sees it as too expensive and slow, EU officials told Reuters in July
China grants country’s first COVID-19 vaccine patent to CanSino: state media
Class-action suit planned as HDFC Bank is accused of misleading investors
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