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COVID has accelerated changes in payments such that we’re already in a different landscape – and companies urgently need to make sure they’re ready.

COVID has changed payments for good

Amidst the tragedies and challenges we’ve lived through in the last six months, says Kriya Patel, CEO of Transact Payments Limited, one emerging theme is how COVID has accelerated existing trends – like working from home – and changed our lives in the process.

Payments is no different: there has been rapid and comprehensive change in our business – and plenty of opportunities to embrace. But the pace of

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Global commercial insurance prices in largest increase


Global average commercial insurance prices rose by 19% in the second quarter of 2020, according to a new report by Marsh. The increase, the largest since Marsh’s Global Insurance Market Index was released in 2012, follows average year-over-year increases of 14% in Q1 and 11% in the fourth quarter of 2019.

Average price increases were driven primarily by increases in property insurance rates and financial and professional lines, Marsh reported. Other findings of the survey included:

  • Global property insurance was up by 19% and global financial and professional lines rose 37%, while global casualty pricing saw a 7% average increase.
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Beirut blast’s insured losses estimated at US$3 billion


The massive port explosion that engulfed the Lebanese capital of Beirut on August 04 is likely to inflict insured losses of around US$3 billion, according to a report by Reuters, citing industry sources.

Parallels have been drawn between this blast and the one that occurred in Tianjin, China in 2015.

The Beirut blast, which killed at least 200 people, destroyed numerous buildings across the city and was felt as far as Cyprus. Lebanese officials have reported economic losses of US$15 billion, most of which is uninsured.

Swiss Re estimated the insured losses at the Tianjin blast at around US$2.5 billion

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Banks and tech companies including JPMorgan, Google and Amazon form New York jobs council


Jamie Dimon, chief executive officer of JPMorgan Chase & Co.

Giulia Marchi | Bloomberg | Getty Images

The CEOs of banks, tech companies and consulting firms are forming a group to boost hiring from underrepresented groups in New York.

Leaders from 27 firms that represent many of New York’s dominant industries banded together to create the New York Jobs CEO Council, which aims to hire 100,000 people from low-income Black, Latinx and Asian communities by 2030, according to a release.

The co-chairs of the new organization include Jamie Dimon, CEO of JPMorgan Chase; Arvind Krishna, CEO of IBM, and Julie

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