International News

EU Prepares for Coming of Facial Recognition– On Its Privacy Terms

Eco/Invest/Demography, Technology       Feb 03, 2020

The European Union has accepted there is no escape from facial recognition, but is seeking to ensure any roll-out that includes U.S. and Chinese players will abide by European values like strict personal privacy.   Facial recognition has emerged as a hot-button issue as the EU...

As economic costs of Coronavirus mount, China accuses U.S. of overreacting

  The economic and diplomatic costs of China’s coronavirus epidemic mounted on Monday with investors knocking $400 billion off the value of stocks and the government accusing the United States of over-reacting to the outbreak and whipping up panic.   The number of deaths in China from...

Coronavirus to hit reinsurers hard:AM Best

  OLDWICK: A new Best’s Commentary, titled, “Coronavirus Highlights the Importance of Stress Testing,” notes that the reinsurers may face higher levels of risk than L/H insurers, as their risk profiles entail higher exposures to mortality and morbidity risks. However, global reinsurers have been broadening their...

Allianz sets up an emergency response fund to support China’s fight against the coronavirus epidemic

  SHANGHAI: Allianz (China) Insurance Holding Co. Ltd. announced today that the group’s key institutions in mainland China and Allianz SE will jointly set up an emergency response fund to support China’s fight against the coronavirus epidemic.    The initial pledge towards this fund is RMB 4...

Most UK insurers, banks unprepared for risks of climate change

The Bank of England faces an uphill climb to get the finance industry ready for one of its biggest threats: the climate.   About 80% of senior finance executives believe their firms “lack well-developed strategies to manage the risks of climate change,” according to a poll...

Coronavirus:Over 9,800 infected, WHO declares world health emergency

  The death toll in China from the coronavirus rose to 213, as the World Health Organization declared a health emergency for a disease that now has more global cases than were officially reported during the SARS epidemic.   The WHO’s decision comes the outbreak of coronavirus...

European insurers balk at EU raising capital requirements due to Cyber, Climate Risks

  Insurers in Europe may need to put aside money to protect their policyholders should they become insolvent, and regulators should be able to be shut them down swiftly without the need for taxpayer bailouts, a top EU official said on Wednesday.   However the European insurance...

People with pre-existing conditions are more vulnerable to Coronaviruses:AIR

Boston: Cat modeling entity AIR has said that so far, mortality associated with the 2019 novel coronavirus is observed particularly among people who are older than 60 years of age, with the mean value of 73 years of age.   Furthermore, the case fatality is more...

China:Coronavirus cases surpass SARS as big economic hit looms

BEIJING : Infections from China's coronavirus spread to more than 8,100 people globally on Thursday, surpassing the 2002-2003 SARS epidemic's total in a fast-spreading health crisis forecast to pummel the world's second-largest economy.   The vast majority of patients are in China where the virus originated...