In the news today: United States claims melting ice caps is ‘good for trade’, Emperor penguin one of the species amongst the million facing imminent extinction, and Tesla’s insurance bid may fall short

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United States claims melting ice caps is a ‘good thing’

The United States Secretary of State, Mike Pompeo, thinks that the planets melting ice caps “is a good thing’ claiming that new shipping lanes could cut the time it takes to traverse the trade routes between the east and the west by as much as twenty days. His startling announcement coincided with news from UN scientists that one million species of flora and fauna face imminent extinction. READ MORE

The world’s tallest penguin hasn’t been able to produce offspring in three years. The British royal breeding pair of Harry and Meghan have produced offspring in less than a year. Guess which news item is making headlines

The catastrophic drop in numbers of the Emperor penguin put this species amongst the million that are facing imminent extinction globally. The UN report compiled by 150 scientists with impeccable credentials, over three years, is both thorough and damning. Risk managers are soon going to have to be modelling scenarios that go beyond what we understand as natcats. According to Robert Watson (UN Panel chair), the collapse of the planet’s biodiversity will lead to a similar collapse of the global economy

It is time to revisit business interruption policy wording on our contracts.  READ MORE

Liberty offers a new comprehensive short-term insurance solution

Hustling into an already crowded market after the success of its car insurance pilot project, Liberty has recently introduced a comprehensive short-term insurance bouquet of products. The product portfolio includes residential building, household content, personal liability as well as ‘on-the-go’ insurance cover.  READ MORE

Why Tesla’s insurance bid may fall short

Automaker Tesla recently announced that it would offer its own insurance product to customers, but some experts believe the car company might be biting off more than it can chew.  READ MORE

Tech sees insurtech Naked gain market share

Local artificial intelligence (AI)-based insurtech Naked says technology has resulted in it gaining market share just over a year after it went live.  READ MORE