Kate Markham, Hiscox London Market CEO, said: “Our research...
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World faces risk cocktail from AI, oil and debt, says IMF chief
“The AI building boom is inflationary. The energy and food shocks...
UK watchdog opens first Online Safety Act probe into Meta
Ofcom said its investigation would establish whether Meta carried...
War in Ukraine escalates with drone strikes on cargo ships in Black Sea
They also reflect how the Black Sea is becoming an increasingly precarious corridor for agricultural trade, raising concerns over how crops from two of the world’s biggest exporters — Russia and Ukraine — will reach global buyers. Attacks on commercial vessels off the...
Starbucks sued over ‘sugar-free’ claims for protein beverages
Consumers accused Starbucks of trying to capitalize on the desire of 75% of Americans to reduce or eliminate sugar consumption. They also said Starbucks failed to provide federally required disclaimers that the protein beverages are not low-calorie food or meant for...
South Korean president orders probe into data leaks across financial industry
Lee Jae Myung, President,South Korean “The entire financial sector should carry out swift and thorough security inspections,” Financial Services Commission Chairman Lee Eog-weon said in a statement Sunday, after an emergency meeting with executives from financial...
Flydubai co-pilot attacked pilot with axe in attempted ‘terrorist attack’, UAE says
The confirmation of the weapon used in the attack is also important, as reports of it being a pocket knife had raised additional questions about crew security checks and how a pilot could have snuck it in. A crash ax is a standard safety requirement in the cockpit for...
British Airways London-Chicago flight drops 28,000 feet within minutes, declares emergency
Flight BA295 declared an emergency mid-flight following a sudden and steep descent while flying over Ireland soon after take-off from London's Heathrow Airport at 1150 am local time, according to flight tracking data. A British Airways flight on Monday made a U-turn...
Zurich completes Beazley acquisition, creates world’s largest specialty insurer
Following the completion of the acquisition, Kristof Terryn is appointed CEO of Beazley and Zurich Global Specialty, subject to regulatory approval. Adrian Cox will be leaving Beazley as the organization begins its next phase. Zurich Insurance Group (Zurich) today...
Mid-air horror: Flydubai Pilot of a Tel Aviv bound jet with 170 passengers stabs his colleague and tries to crash the plane
Catastrophe was narrowly avoided after a passenger and members of crew stormed the cockpit of the Flydubai plane that had taken off in Dubai and managed to stabilize the jet, after it plunged more than 14,000 feet (4,300 meters) in less than 30 seconds at almost the...
OverseeAI joins Guidewire Insurtech Vanguards to accelerate insurance product modernisation and new product launches
Scott Field, Co-founder and Chief Product & Technology Officer of OverseeAI, said, “Insurance products are among the most complex assets a carrier operates, and modernizing them starts with a clear, structured understanding of what they are and how they work. We...
South Korean banks and insurers hunt for overseas deals
A rapidly aging population and a mature domestic market are pushing Korean financial groups to head out. Backed by strong balance sheets, they are scouring investments ranging from US insurance and retirement businesses to banks and consumer-finance companies across...
French court finds Swiftair guilty of corporate manslaughter over Mali crash
A French judge ordered the company to pay the maximum fine in France of €225,000 for corporate manslaughter, “or involuntary homicide,” after a three-week trial earlier this year over the crash of a Swiftair-owned MD-83 airliner. The Paris Criminal Court found Spanish...