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Aon and KNIAZHA VIENNA INSURANCE GROUP announce new $25M war-risk insurance facility with US’s IDFC
Greg Case, president and CEO of Aon The facility, which will...
Public-private insurance programmes must boost risk reduction to keep disasters insurable:Geneva Association
Jad Ariss, managing director of the Geneva Association, said,...
mpox spreads rapidly in Congo’s capital Kinshasa
So far this year, more than 34,000 suspected cases of the disease, caused by both clades have been reported across Africa, more than triple the number recorded at the same time in 2023. As many as 95% of the cases are in Congo and Burundi and 866 people have died The...
Africa Specialty Risks to operate as a Lloyd’s service company on behalf of ASR Syndicate 2454
ASR Ltd is now able to write up to USD $10 million per risk across its Political Violence and Terrorism, Energy, Construction, Property, and Liability lines of business, with additional lines to be added, subject to necessary approvals London: Africa Specialty Risks...
More than 1-in-3 people globally vulnerable to flood Risk, says Moody’s
South Asia is the most flood-prone region, with almost 40% of its inhabitants susceptible to inland flooding and just over 5% at risk from coastal flooding at the 100-year return period level London: As the Southeastern US and central Europe contend with the aftermath...
Microinsurance Network announces partnership with African Insurance Organisation
Together, MiN and AIO, with additional support from the International Labour Organization (ILO)’s Impact Insurance Facility aim to create a robust platform for knowledge sharing, capacity building, and the promotion of product development to enhance the inclusive...
Airlines in the Gulf adjust routes after Iran’s attack on Israel
Neighbouring countries have closed their airspace and airline crews are navigating alternative routes to avoid the escalating conflict DUBAI: Several airlines operating in the Gulf have adjusted their flight routes to ensure passenger safety following Iran's attack on...
WTW to sell insurance distribution unit to public-equity firm for $632.4 million
“With the sale of Tranzact, we are exiting this direct-to-consumer market and accelerating our progress toward our long-term free cash flow margin goals,” WTW CEO Carl Hess said Willis Tower Watson said Tuesday it would sell its direct-to-consumer insurance...
Tesla, Musk beat shareholder lawsuit over self-driving promises
Elon Musk,CEO,Tesla U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually...
EU privacy regulator fines Meta €91M over password storage in GDPR violation
The inquiry was opened five years ago after Meta notified Ireland’s Data Protection Commission (DPC) that it had stored some passwords in “plaintext.” Meta publicly acknowledged the incident at the time and the DPC said the passwords were not made available to...
Port strike will paralyze half of US trade and cargo carriers
Oxford Economics estimated that a strike would cost the US economy $4.5 billion to $7.5 billion a week — a hit to gross domestic product that would be reversed after it’s over and shipments resume The world’s top container carrier is urging customers to move US cargo...
Marsh McLennan strikes $7.75 bln deal for McGriff Insurance Services
Marsh McLennan said it expects the deal, struck through its Marsh McLennan Agency business, to enhance the unit's capabilities across commercial property and casualty, employee benefits, management liability and personal insurance lines Marsh McLennan, the largest...