risk Archives - Zxcoachoutlet

Mercury Insurance Launches Programs to Help California Homeowners with Wildfire Risk

October 12, 2020

LOS ANGELES, Oct. 12, 2020 /PRNewswire/ — Wildfire season is well underway, with wildfires scorching a record breaking number of acres up and down California, and the peak of the season is yet to come. Mercury Insurance (NYSE: MCY) today announced two new programs the company is launching to help Californians better protect their homes and families if they live in areas prone to wildfires. Homeowners who take one or more steps to either harden their homes against wildfires or live in a community recognized by the National Fire Protection Association® (NFPA) as a Firewise USA® site will be eligible to receive discounts of up to 18%. And, homeowners who have a California Fair Access to Insurance Requirements (FAIR) Plan policy are now able to strengthen their protection with Mercury’s new difference-in-conditions endorsement, which fills the gaps in their FAIR Plan coverage.

Mercury Insurance is one of the

Public-Private Partnerships May Be a Needed Insurance Backstop Against COVID-19-Exposed Systemic Risk

October 12, 2020

| No Comments

| insurance

AM Best believes proposed public-private partnerships to address the disastrous effects on businesses related to COVID-19 are warranted, given the systemic risk posed by the pandemic.

In its new Best’s Commentary, “Retroactive Legislation, Social Inflation: Credit Negatives for Insurers,” AM Best states that it expects significant reserve uncertainty arising for the current accident year given the challenge for insurers to estimate ultimate losses resulting from the COVID-19 pandemic and the related shutdowns. Social inflation, combined with lawsuits addressing liability policies, will drive defense containment costs significantly higher. Court decisions will influence actual claims payouts, creating challenges in determining prudent reserve estimates and payout patterns. In addition, a number of legislative and policy measures are being contemplated that would nullify business interruption coverage exclusions in commercial property policies and force insurers to compensate policyholders for risks that were excluded during underwriting. Insurers with smaller capital bases in particular would be

Big tech’s emerging market finance push brings rewards and risk, FSB says

October 11, 2020

| No Comments

| finance

LONDON, Oct 12 (Reuters) – A push by big technology firms into financial services in developing countries will improve access to them, but might also make traditional lenders more vulnerable, the Financial Stability Board (FSB) said.

The expansion in emerging markets has generally been more rapid and broad-based than that in advanced economies, the FSB, which coordinates financial regulation for the Group of 20 Economies (G20), said in the report released on Monday.

Lower levels of access to traditional banking and financial services developing economies had created demand for services now offered by big tech firms, the report found, particularly among low-income populations and in rural areas.

An increasing availability of mobile phones and internet access supported this trend, the FSB said.

“However the expansion of BigTech activity also gives rise to risks and vulnerabilities,” it said, pointing to lower financial literacy and firms using other data gathered.

“Competition from

White House Curbs on Chinese Payment Apps Pose Risk to Ant

October 8, 2020

| No Comments

| business

(Bloomberg) — The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multibillion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.

a person sitting on display in a store: An advertisement for Tencent Holdings Ltd.'s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group's Alipay account for the majority of the mobile payments transactions in China.

© Bloomberg
An advertisement for Tencent Holdings Ltd.’s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group’s Alipay account for the majority of the mobile payments transactions in China.

U.S. officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings Ltd.’s WeChat Pay over concerns that the digital payment platforms threaten national security, Bloomberg reported on Wednesday.

Load Error

Read more: U.S. explores curbs on Ant Group, Tencent payment systems

If the administration proceeds, the most immediate hit would be to Ant Group’s plan for a stock listing in

Musk Says Tesla to Use New Batteries, Tech at Berlin Factory; Flags Production Risk | Investing News

October 8, 2020

| No Comments

| business

(Reuters) – Tesla Inc

Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a “significant production risk”.

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built.

The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021.

Tesla’s new battery cell – a larger cylindrical format called 4680 that can store more energy and is easier to make – is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.

The company’s

Unemployment Is World’s Biggest Risk, Business Leaders Say | Investing News

October 7, 2020

| No Comments

| business

LONDON (Reuters) – Unemployment is seen as the biggest worry over the next 10 years for business executives around the world, closely followed by concern about the spread of infectious diseases, according to a survey by the World Economic Forum.

Unemployment rates have rocketed due to lockdowns and other restrictions to combat the coronavirus pandemic, with fears of worse to come in countries which have furloughed workers.

“The employment disruptions caused by the pandemic, rising automation and the transition to greener economies are fundamentally changing labour markets,” said Saadia Zahidi, Managing Director at the World Economic Forum (WEF).

“As we emerge from the crisis, leaders have a remarkable opportunity to create new jobs, support living wages, and reimagine social safety nets to adequately meet the challenges in the labour markets of tomorrow.”

The Regional Risks for Doing Business survey, which surveyed 12,012 business leaders from 127 countries, makes up part

US Fines Citibank $400 Mn For Poor Risk Management Practices

October 7, 2020

| No Comments

| business

US authorities fined Citibank $400 million over deficiencies in risk management practices and required an overhaul of internal controls at the global financial powerhouse, officials announced Wednesday.

The US Treasury’s Office of the Comptroller of the Currency issued the fine, in parallel with a related action from the Federal Reserve citing failings at the bank.

The Fed said the crackdown reflected the fact Citi had “not taken prompt and effective actions to correct practices previously identified by the Board in the area of compliance risk management, data quality management and internal controls.”

The Fed said the issues date back to 2013, but had not been adequately addressed.

Under the settlement with the OCC, Citi promised to appoint a compliance committee that will provide quarterly updates to the company’s board on actions to improve compliance. Other requirements include upgrades to data collection and a staffing assessment to ensure adequate resources for

FOREX-Dollar steadies after falling on sharper risk appetite

October 6, 2020

| No Comments

| business

By Olga Cotaga

LONDON, Oct 6 (Reuters) – The dollar stabilised on Tuesday after weakening against most currencies in earlier trade, as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in polls ahead of next month’s election is also seen as negative for the U.S. currency.

“The increasing possibility of a “blue wave” (Democrat control of the White House and Congress) that would open the door for much-needed fiscal stimulus would be a welcome development for risk assets and could undermine the U.S. dollar,” said Lee Hardman, currency analyst at MUFG.

An index

Dollar steadies after falling on sharper risk appetite

October 6, 2020

| No Comments

| business

By Olga Cotaga

LONDON (Reuters) – The dollar stabilised on Tuesday after weakening against most currencies in earlier trade, as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in polls ahead of next month’s election is also seen as negative for the U.S. currency.

“The increasing possibility of a “blue wave” (Democrat control of the White House and Congress) that would open the door for much-needed fiscal stimulus would be a welcome development for risk assets and could undermine the U.S. dollar,” said Lee Hardman, currency analyst at MUFG.

An index which measures the

FOREX-Dollar weaker as US fiscal stimulus hopes lift risk appetite

October 6, 2020

| No Comments

| business

By Olga Cotaga

LONDON, Oct 6 (Reuters) – The dollar was on the defensive against most currencies on Tuesday as rising optimism that U.S. lawmakers could agree on new stimulus to blunt the economic impact of the coronavirus dampened demand for safer assets.

Risk appetite also improved after U.S. President Donald Trump left hospital and returned to the White House following treatment for COVID-19, a development viewed as reducing political uncertainties in the near term.

The lead taken by Trump’s presidential opponent Joe Biden in electoral polls ahead of next month’s election is also seen as negative for the U.S. currency.

“The increasing possibility of a “blue wave” (Democrat control of the White House and Congress) that would open the door for much-needed fiscal stimulus would be a welcome development for risk assets and could undermine the U.S. dollar,” said Lee Hardman, currency analyst at MUFG.

An index

M	T	W	T	F	S	S
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	31