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West Asia Conflict: Risks extend beyond marine into energy, political violence, aviation, trade credit says Howden
Demand for Political Violence and Terrorism cover has risen...
Iran woking on a draft bill to impose a fee on vessels seeking safe passage through Strait of Hormuz
According to the semi-official Fars, the plan would be finalised...
Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says
Singapore's prime minister said in October that the city-state would block Allianz's bid The move would have lifted Allianz to fourth largest composite insurer in Asia, from ninth, but sparked critique in Singapore because of concerns that it would detract from a...
Lockton unveils new global Parametric Insurance Practice
The parametric insurance market is projected to reach $39.3 billion by 2032, according to Global Market Insights, underscoring the demand for alternative solutions to cover gaps in conventional commercial property insurance KANSAS CITY: Lockton, the world's largest...
Meta outage hit Facebook Instagram WhatsApp
Meta’s outage is a timely reminder of the need to engineer critical systems to maximise their reliability, including minimising central points of failure and employing engineering principles like fault isolation Melbourne: A major outage is affecting users of popular...
Hacking rooftop solar can disrupt of Europe’s Power Grid
The exponential growth of rooftop solar systems means millions more connection points to the grid, creating a massive vulnerability that hackers could exploit. The most serious impact may be cascading grid failures across the continent. That risk is a growing concern...
Aon and EBRD launch innovative war risk insurance facility for Ukraine
Under the new €110 million Ukraine Recovery and Reconstruction Guarantee Facility, the EBRD will support global reinsurance companies through a guarantee covering losses on specific war-related risks underwritten by local Ukrainian insurers DUBLIN: Aon plc, a leading...
China to expand private pension scheme nationwide from Dec 15
Those covered by public pension insurance will be allowed to open private pension accounts and invest up to 12,000 yuan ($1,652) a year in financial products, five official bodies, including the human resources ministry, said in a joint notice Beijing: China said on...
China targets Nvidia with antitrust probe, escalates US chip tensions
The statement from the State Administration for Market Regulation announcing the probe did not elaborate on how the U.S. company, known for its artificial intelligence and gaming chips, might have violated China's anti-monopoly laws BEIJING: China said on Monday it...
Lloyd’s human pandemic scenario reveals potential global economic loss of $13.6trn
From an economic perspective, the widespread impacts would be primarily driven by disruption across global industries due to local lockdowns and global travel restrictions. With the transportation sector worth over 10% of global GDP, sustained international travel...
Cat bonds see rapid influx of investors
Plenum estimates that the volume of catastrophe bonds in funds marketed under Europe’s UCITs label has risen roughly 49% since the end of 2022 to $13 billion at the end of September. That’s as overall issuance for 2024 looks set to hit a record $16.5 billion,...
Insurers’ climate losses almost match premiums from fossil fuels
On average, fossil-fuel premiums account for less than 2% of total premiums, raising questions about why insurers aren’t using their immense influence to protect the other 98% of their business from spiraling climate risks Top insurance companies suffered $10.6...