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SCOR and AXA jointly to launch Lloyd’s consortium for ecological restoration insurance
Jean-Paul Conoscente, CEO of SCOR P&C, commented: “Restore...
Korean Re launches operations in India’s GIFT City
JG Won, President & CEO, Korean Re, announcing the launch of...
Allianz weighs options for AllianzGI unit, sources say
Amundi and Germany’s DWS would be logical candidates for any deal Allianz is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that...
US strikes $100M settlement with owner, operator of ship Dali for Baltimore bridge mishap
Settlement will cover federal costs incurred to restore access to the port of Baltimore The US Justice Department announced on Thursday that Grace Ocean Private Limited and Synergy Marine Private Limited, the Singaporean corporations that owned and operated the Motor...
Hack at UnitedHealth’s tech unit impacted 100 mln people, US health dept says
UnitedHealth has previously said that hackers potentially stole a third of Americans' data in one of the worst hacks to hit the U.S. healthcare sector. The company began notifying affected patients in June The February hack at UnitedHealth's tech unit Change affected...
Ireland fines LinkedIn 310 mn euros over EU data breach
The Data Protection Commission (DPC) issued the Microsoft-owned website its first EU fine saying "the consent obtained by LinkedIn was not given freely" An Irish regulator helping to police European Union data privacy said Thursday it had fined professional networking...
Global commercial insurance rates show first quarterly fall in seven years, Marsh says
Marsh said the fall in the composite rate - the first since the third quarter of 2017 - was largely driven by increased competition among insurers in the global property market.On average, composite rates decreased in the Pacific by 6%, in the UK by 5%, in Asia by 4%,...
Africa CDC warns of monkeypox surveillance challenges as cases surpass 45,000
Data from the Africa CDC show that the Central Africa region registered 85.5 percent of all reported cases and 99.5 percent of deaths. Additionally, the number of cases reported so far this year has reflected a 400 percent increase compared to the entire 2023 Addis...
Meta, Google, TikTok must face schools’ addiction claims in US
The companies also face significant exposure from hundreds of personal injury suits accusing them of designing their platforms to encourage youths to spend unhealthy amounts of time on screens and suffering emotional trauma as a result. But the school cases may carry...
Lloyd’s and UNCDC establish first of its kind disaster resilience vehicle for Small Island Developing States
Initially covering Fiji, Papua New Guinea and Samoa, the vehicle will respond to disasters caused by natural perils including tropical cyclone, earthquake, tsunami and flood – with the long-term aim of scaling and replicating the vehicle throughout the Pacific region...
Seeking profit emerging markets lose ESG appeal
ESG investments in developing nations have floundered over the course of the past year, with emerging markets recording a third year of consecutive outflows, largely due to tighter global monetary policies in both developed and emerging economies. Sustainable...
EU AI Act checker reveals Big Tech’s compliance pitfalls
Companies failing to comply with the AI Act will face fines of 35 million euros ($38 million), or 7% of global annual turnover Some of the most prominent artificial intelligence models are falling short of European regulations in key areas such as cybersecurity...