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Biden’s vaccine rules to set off barrage of legal challenges

The White House is gearing up for legal challenges and believes that even if some of the mandates are tossed out, millions of Americans will get a shot because of the new requirements — saving lives and preventing the spread of the virus.

Biden is putting enforcement in the hands of the Occupational Safety and Health Administration, which is drafting a rule “over the coming weeks,” Jeffrey Zients, the White House coronavirus response coordinator, said Friday.

He warned that “if a workplace refuses to follow the standard, the OSHA fines could be quite significant.” \\ Courts have upheld vaccination requirements as a condition of employment, both before the pandemic — in challenges brought by health care workers — and since the coronavirus outbreak, said Lindsay Wiley, director of the Health Law and Policy Program at American University Washington College of Law.

China launches wealth management product pilots for retirement in four cities

Last month, China set up a state pension company with registered capital of 11.2 billion yuan, with 17 bank-affiliated wealth management units, insurers and state institutions taking stake, to help boost funds for retirees.

Despite looming changes, China’s retirement age is 60 for men and 55 for women, civil servants and white-collar workers.

U.S. Treasury climate official seeks insurance changes for extreme weather

The Federal Insurance Office will accept input for 75 days and then come up with recommendations for better pricing the risks that climate change posed to insured properties and activities, John Morton, Climate counselor, U.S. Treasury

said.

“The question is, how do we … better understand and begin to price the risk inherent in the underlying activities,” he said.

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