International News

WHO reports record daily increase in global coronavirus cases, up over 230,000

Geneva: The World Health Organization reported a record increase in global coronavirus cases on Sunday, with the total rising by 230,370 in 24 hours. The biggest increases were from the United States, Brazil, India and South Africa, according to a daily report. The previous WHO...

Pandemic exposes scientific rift over proving when germs are airborne

  CHICAGO: The coronavirus pandemic has exposed a clash among medical experts over disease transmission that stretches back nearly a century - to the very origins of germ theory.The Geneva-based World Health Organization acknowledged this week that the novel coronavirus can spread through tiny droplets floating...

Floods, landslides kill 23 in Nepal, dozens missing

KATHMANDU: Heavy rains triggered flash floods and landslides that killed at least 23 people and displaced thousands in western Nepal, officials said on Saturday. Nine people were killed and more than 30 were missing in Myagdi district, 200 km (125 miles) northwest of the capital...

China's bank and insurance sectors facing rises in non-performing assets - regulator

Eco/Invest/Demography, Risk Management       Jul 11, 2020

BEIJING: China’s banking and insurance sectors are facing increasing pressure from rises in non-performing assets, the China Banking and Insurance Regulatory (CBIRC) said on Saturday. Asset quality at some small and medium-sized financial institutions is deteriorating due to the coronavirus pandemic, the regulator said in...

Pandemic-proofing: Insurance may never be the same again

  Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.While new pandemic-proof policies might not be cheap, they offer businesses from restaurants to film production companies to...

Chubb wants U.S. to offer businesses pandemic cover, with insurers taking some risk

Chubb Ltd said on Wednesday it is lobbying the U.S. government to insure businesses for losses in future pandemics, while giving the insurance industry a small portion of the business, jumping into a debate over how to insure such disasters. The U.S. insurance industry has...

AXA's fund arm sets 33% gender diversity target on company boards

Eco/Invest/Demography       Jul 09, 2020

Paris: AXA Investment Managers will set a 33% target for gender diversity on listed company boards in developed markets and may vote against companies which fail to meet this mark. The asset management unit of French insurer AXA said on Wednesday it will also introduce...

Business interruption insurance claims are a worry, BoE says before court rules

  London: The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses caused by the coronavirus crisis. Anna...

Billion-dollar June hail event becomes one of Canada’s costliest severe weather events on record, Aon cat report 

  Chicago: Aon's monthly Global Catastrophe Recap report,evaluating the impact of the natural disaster events that occurred worldwide during June 2020,reveals that a series of powerful thunderstorms swept across southern Alberta, Canada on June 13-14, resulting in large hail that caused extensive damage and flooding throughout...