"Oil and gas companies' renewable deployment is anecdotal at best....
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Aon names Simon Chisholm as Asia Reinsurance Solutions chairman
Simon Chisholm, Chairman-designate, of Asia for Reinsurance...
SIRC announces panel line-up, anchoring conversations on Geopolitics, Sustainability and AI
Anchored on the theme “Staying Ahead, Future Ready”, the 21st...
Climate change may claim 14.5 mn lives by 2050: WEF
Flooding alone is estimated to cause 8.5 million deaths by 2050, posing "the highest acute risk of climate-induced mortality", according to the study. Droughts, as the second leading cause of climate-related mortality, are forecast to claim 3.2 million lives. Heat...
Insurers seek to exclude US, UK Ships From Red Sea Coverage
“Underwriters are adding clauses saying no US, UK or Israeli involvement,” he said. “Just about everybody is putting something like that in, and many include the words ‘ownership’ or ‘interest’” War risk rates have gone into a frenzy in recent days following the US...
Japan revokes certification for 3 models of Daihatsu after safety scandal
The discovery in early 2023 that a half dozen models might be affected by manipulated test results ballooned into a full-blown scandal last month, when Daihatsu revealed that an internal probe found 174 irregularities across 64 cars dating back as far as 1989 Tokyo:...
Red Sea war insurance rises with more ships in firing line
Insurance industry sources said that war risk premiums had risen to around 1% of the value of a ship, from around 0.7% last week with various discounts applied by underwriters. They added that rates were expected to move higher War risk insurance premiums for...
More CEOs fear their companies won’t survive 10 years as AI and climate challenges grow PwC survey says
"Whether it is accelerating the rollout of generative AI or building their business to address the challenges and opportunities of the climate transition, this is a year of transformation,” Bob Moritz, global chairman of PwC, formerly known as PricewaterhouseCoopers...
Container rates soar on concerns of prolonged Red Sea disruption, inflation
"Tanker rates will increase and futures are up this morning," said John Kartsonas, managing partner at Breakwave Advisors, who added that dry bulk remains the least affected sector. Major importers like Tesla , Geely-owned Volvo Car and Ikea already have reported...
Tesla, Volvo Car pause output as Red Sea shipping crisis deepens
Late on Thursday, Tesla told Reuters it will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, citing a lack of components after many ships were re-routed around the southern tip of Africa BERLIN/STOCKHOLM: Automakers Tesla and...
2023 officially warmest year on record by a huge margin, WMO confirms
''Given that El Nino usually has the biggest impact on global temperatures after it peaks, 2024 could be even hotter,'' said Saulo, who became WMO Secretary-General on January 1, 2024 The World Meteorological Organization (WMO) has officially confirmed that 2023 is...
Cockpit window crack forces ANA Boeing flight in Japan to turn back
The crack appeared in the outermost of the four layers of window surrounding the cockpit The incident was not serious but if left unfixed could have been "pretty dangerous", an aviation expert said London: A domestic All Nippon Airways (ANA) flight in Japan has...
Ukraine in talks with Marsh on war risk insurance for air transport
Air traffic over Ukraine has been suspended since Russia’s full-scale invasion in February 2022. But Kyiv wants to reopen Boryspil International Airport just outside the capital as soon as possible once conditions permit, which it sees as a victory for Ukraine’s...