“Climate-related risks are an immediate concern for financial...
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AM Best maintains stable outlook on global cyber insurance segment
The AI-driven proliferation of cyber-attacks also can increase the...
China’s blistering heat leaves workers exposed as gig economy booms
Almost half of China’s platform workers don’t have any social...
China economy to top $19.5 trillion this year, says state planner
Zheng Shanjie, chair of the National Development and Reform Commission highlighted progress made under the 2021–2025 five-year plan, which focuses on key priorities such as economic development, technological innovation, green transformation, and improvements in...
Credit fund’s collapse leads to $1 billion lawsuit against EY
In a claim filed with Ontario’s Superior Court last month, PricewaterhouseCoopers alleged that EY issued unqualified opinions on Bridging’s books from 2014 to 2020 despite red flags, including inflated asset values and hidden defaults. Bridging Finance Inc.’s receiver...
Trump’s Tariff Shock: Global economic & insurance premium growth to slow down, says Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist, said: "While insurers' profitability outlook is still benefiting from rising investment income, we expect tariffs to slow global GDP growth, and consequently weigh on insurance demand. In the long term, US tariff...
Impostor uses AI to impersonate Rubio, contact foreign and US officials
Marco Rubio US ,Secretary of State The misuse of AI to deceive people is likely to grow as the technology improves and becomes more widely available, and the FBI warned this past spring about “malicious actors” impersonating senior U.S. government officials in a text...
Houthi militants continued to pound a commercial ship in the Red Sea
“These incidents highlight the Houthis’ disregard for human life, as they continue to exploit seafarers as pawns in their strategic conflicts,” said Jakob Larsen, chief safety and security officer at BIMCO, the world’s largest direct-membership trade group for the...
Indian state Kerala sues Swiss-based Mediterranean Shipping Company, seeks $1.1 billion in compensation over oil spill
On May 25, Liberia-flagged MSC ELSA3 ship travelling from Vizhinjam on India's southern tip to Kochi had capsized. The incident had resulted in leaking fuel and releasing cargo, some of which contained hazardous material. NEW DELHI: India's southern state of Kerala...
MS Amlin appoints Nicola Harris to lead natural resources
In this role, Nicola will be responsible for leading the efforts of a team that supports a diverse range of clients throughout the entire energy chain. With a significant portfolio, the Natural Resources account includes upstream, midstream, and downstream, as well as...
Death toll from Texas floods reaches at least 43; dozens still missing
The administration has cut thousands of jobs from the National Weather Service's parent agency, the National Oceanic and Atmospheric Administration, leaving many weather offices understaffed, said former NOAA director Rick Spinrad. He said he did not know if those...
Drones clear Mount Everest’s trash-covered slopes
Climate change is only adding to the urgency to clean Everest. Snow and ice are melting, exposing decades-old garbage that can contaminate waterways fed by the runoff and that flow down to villages below Human waste, empty oxygen cylinders, kitchen leftovers and...
China pushes commercial insurers in bid to boost local biotechs
The 3.5 trillion yuan ($486 billion) fund — which covers medical expenses for roughly 95% of China’s 1.4 billion people — will also set up a catalog of innovative drugs that can be reimbursed by commercial insurers, according to the document. The list could lead to...