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Deadly heat worldwide prompts $300 million for climate health research at COP30
An October report in The Lancet scientific journal estimates the...
Boeing ordered to pay over $28 million to 737 MAX crash victim’s family
The verdict awarded to the family of Shikha Garg is the first in...
Global accounting body wants more rigour in showing climate impacts
Investors have said they want to know whether assets will retain their value going forward as climate change impairs them, such as through flood damage London: The IASB launched a consultation on Wednesday on proposed guidance for companies to apply the board’s...
Meta to pay $1.4 billion to settle Texas facial recognition data lawsuit
The lawsuit, filed in 2022, was the first major case to be brought under Texas’ 2009 biometric privacy law, according to law firms tracking the litigation. A provision of the law provides damages of up to $25,000 per violation. Texas accused Facebook of capturing...
Global Nat Cat insured losses at $ 62bn in H1 24, significantly higher than 10-yr average of $ 37bn, Munich Re report
Thomas Blunck,Member of the Board of Management, Munich Re said,”Weather-related natural disasters, especially in North America, are prominent once again in the loss statistics for the first half-year. In addition, there has been flooding in regions where it is...
SCOR sees first quarterly loss since 2022
Thierry Leger,Chief Executive Officer,SCOR SE The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analysts’ estimates. The result was driven by a €329 million operational loss in the life and health unit...
Companies ‘Paralyzed’ as Australia plans tough climate rules
Authorities estimate the average cost of compliance to be A$1 million ($655,550) but some large organizations calculate the total is likely to be above A$3 million, said Jillian Button, head of climate change at law firm Allens Australia’s plans to introduce stringent...
Global aviation insurance premium to hit a 20-year high of more than $8bn in 2024, says Allianz
Analysis of more than 32,000 industry claims from 2019 - 2024 with a total value of US$15bn (€14bn) shows that collision or crash incidents (63%) and faulty workmanship or defective products (22%) are accountable for 85% of the value. Other incidents like natural...
Swiss Re announces Group CFO succession as John Dacey retires in 2025
Anders Malmström from Athora Holdings, a leading European savings and retirement services group will succeed John Dacey as group chief financial officer as of 1 April 2025 Zurich: Swiss Re, the second largest globa reinsurer, announced today that Anders Malmström will...
CrowdStrike: Delta Air to seek compensation over IT outage
The cyber outage led to more than 2,200 flight cancellations on July 19 and Delta has canceled over 6,000 flights so far since then.CrowdStrike's "Falcon Sensor" software had caused Microsoft Windows to crash and display a blue screen, known informally as the "Blue...
Jessica Schappell appointed as Beazley’s APAC head
Jessica Schappell The risks facing the region are getting more complex and a recent Beazley report found that 44% of businesses in Singapore believe they operate in a high-risk environment. London: Beazley, the leading specialist insurer, announced the appointment of...
Justice Department says TikTok collected US user views on issues like abortion and gun control
TikTok employees used Lark to send sensitive data about U.S. users, information that has wound up being stored on Chinese servers and accessible to ByteDance employees in China, federal officials said. WASHINGTON: In a fresh broadside against one of the world’s most...