Iran has started charging transit fees on some commercial vessels...
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Markel expands its APAC W&I business, makes new appointments in Hong Kong and India
Kevin Leung, Chief Underwriting Officer, Asia-Pacific, said:...
Lloyd’s of London receives license to set up operations in India’s GIFT-IFSC
Two of Lloyd's Syndicates, Syndicate 2047 set up by Bobby Swarup'...
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...
Insured losses from CrowdStrike outage could reach $1.5 bln, CyberCube says
Reinsurance broker Guy Carpenter said that insurers may face claims on directors and officers’ and property insurance as a result of the outage, in addition to cyber insurance claims Global insured losses from last week’s massive IT outage are likely to range from...
Insured losses from CrowdStrike’s outage likely total $540 million to $1.08 billion, says insurer Parametrix
Fortune 500 firms excluding Microsoft to see $5.4 bln in CrowdStrike losses LONDON: U.S. Fortune 500 companies, excluding Microsoft will face $5.4 billion in financial losses from the recent CrowdStrike outage, insurer Parametrix said on Wednesday. CrowdStrike's...
CrowdStrike blames defect in content update for massive IT crash
The incident crashed Microsoft Windows computer systems around the world on Friday, taking down airline, banking and stock exchange operations from Australia and Japan to the UK CrowdStrike Holdings Inc., the cybersecurity company at the center of massive global IT...
18 killed as plane crashes during takeoff at Kathmandu airport
The plane caught fire after skidding off the runway at Kathmandu airport and crashing into a field east of the runway," the airport official added Kathmandu: A private airlines' Pokhara-bound plane crashed during takeoff at the Tribhuvan International Airport (TIA)...
CrowdStrike Chaos: (Re)Insurers could withstand preliminary loss estimates, says Fitch
``We expect claims will be mostly within the retentions of primary insurers,'' said Fitch Cyber risk remains difficult for insurers to assess due to the dynamic root causes of claims. Challenges include a lack of effective, widely accepted modeling tools and a limited...
US, European regulators sign joint statement on effective AI competition
Generative AI has rapidly evolved in recent years and the "technological inflection points" could introduce new means of competing, catalyzing opportunity, innovation and growth, the statement said Regulators in the United States, European Union and Britain have...
Somali piracy revives sharply after yrs of quiet
There were eight acts of piracy and hijackings in the first half of this year near the east African country, the International Maritime Bureau, a Kuala Lumpur- and London-based monitoring organization, said in a report Somali piracy — the scourge of merchant shipping...
Without backup plans, global IT outages will happen again
“I’m sure the regulators globally are looking at this. There is limited competition globally for operating systems, for example, and also for the large-scale cybersecurity products like the ones CrowdStrike provides,” said Nigel Phair, a cybersecurity professor at...