International News

Underwriters puzzle over how to make pandemics insurable again

  London, May 10: When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman and CEO of French...

Vaccine deserts: Some countries have no COVID-19 jabs at all

Eco/Invest/Demography, Health, Pandemic       May 09, 2021

  N'DJAMENA (CHAD): At the small hospital where Dr. Oumaima Djarma works in Chad's capital, there are no debates over which coronavirus vaccine is the best. There are simply no vaccines at all. Not even for the doctors and nurses like her, who care for COVID-19...

UK court to reconsider $6.9 bln Brazil dam lawsuit against BHP

London's Court of Appeal will hear a request to revive a 5 billion pound ($6.95 billion) lawsuit against Anglo-Australian mining group BHP over a 2015 dam failure in Brazil, a court order showed. Judge Nicholas Underhill has agreed to an oral hearing that could help...

China's Waterdrop raises $360 mln in New York IPO -sources

Non-Life, Technology       May 07, 2021

HONG KONG: Chinese online insurance technology firm Waterdrop Inc has raised $360 million by pricing its shares at $12 a piece in its New York initial public offering (IPO), according to two sources with direct knowledge of the matter. The company, which is backed by...

Egyptian court rejects appeal against detention of ship in Suez Canal

Non-Life, Reinsurance       May 06, 2021

  Cairo: An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its detention, a judicial source said. The Ever Given, one of...

WHO experts voice "very low confidence" in some Sinopharm COVID-19 vaccine data

  WHO experts have voiced "very low confidence" in data provided by Chinese state-owned drugmaker Sinopharm on its COVID-19 vaccine regarding the risk of serious side-effects in some patients, but overall confidence in its ability to prevent the disease, a document seen by Reuters shows. A...

Insurers warn government Canada’s flood mapping must not take a decade

OTTAWA: Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood risks. Flood mapping is used to underwrite...

French banks told to speed up response to climate change

  French banks and insurers should speed up their response to climate change, France’s banking regulator said on Tuesday, after publishing what it called the world’s first climate-related stress test of banks. Other financial watchdogs around the world will also be conducting similar tests on the...

EU top court upholds ban on Bayer pesticides linked to harming bees

Eco/Invest/Demography, Health, Policy, Regulation       May 07, 2021

  BRUSSELS: The European Union’s top court on Thursday upheld the EU’s partial ban on three insecticides linked to harming bees, preventing their use on certain crops. The European Court of Justice dismissed an appeal by Bayer to overturn a lower EU court’s 2018 decision to...

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