The settlements come weeks after a Florida jury ordered Tesla to...
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Microsoft seizes 340 websites linked to growing phishing subscription service
Raccoon0365’s service, which operates through a private Telegram...
Insurers lose bid to appeal London judgment over jets lost in Russia
The decision marks another milestone in one of the largest lawsuits...
Africa Specialty Risks gets Lloyd’s in-principle approval to launch Syndicate in 2024 with managing agent Apollo
Mikir Shah, CEO, Africa Specialty Risks ASR Syndicate 2454 aims to begin underwriting in March 2024, and will focus on underwriting business across Africa, which represents around 2% of Lloyd’s business globally. This presents a unique opportunity for specialty risk...
AXA explores $1.1 bln disposal of European protection businesses -sources
The transaction could include businesses in France, Italy, Spain and part of the UK, which all sit under the group’s AXA Partners division AXA is considering selling some of its protection insurance businesses across Western Europe in a deal that could be worth up to...
Rising war risks prompt property insurers to rethink cover
“There’s a chance that the reaction to Ukraine and others is going to have more of an impact on other parts of the world that are not live situations right now but could be live in the future like Taiwan. You can’t get anything in Ukraine at this point in time. For...
Airline industry to meet in January over GPS spoofing spike
A spoofed plane’s navigation system will show it as being in a different place – a security risk if a jet is guided to fly into a hostile country’s airspace. Spoofing is common around conflict zones and areas with sensitive military targets Geneva: Global aviation...
Global insured losses from severe thunderstorms reach new all-time high of USD 60 billion in 2023, Swiss Re
Jérôme Jean Haegeli,Chief Economist, Swiss Re A high number of low-to-medium-severity events will aggregate to insured losses of more than USD 100 billion in 2023 Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says: "The cumulative effect of frequent, low-loss...
IFC,DFC and African Risk Capacity launch reinsurance fund to protect African smallholders impacted by climate crisis
Despite these increasing risks, subsidized agri-insurance is only available in four out of 54 countries across Africa, and currently only 3% of African farmers have insurance coverage for their farms. African smallholders - who face significantly more income shocks...
Oneglobal and Floodbase partner to develop parametric flood insurance programs across Asia
Connected through Lloyd's Lab, the two organizations recognized a massive opportunity to marry Floodbase's unmatched historical and near real-time flood data with Oneglobal's re/insurance expertise, leading market presence, and reputation for innovation BROOKLYN, N.Y:...
Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
Insurers are beginning to reduce coverage for solar businesses due to the rising severity of hailstorms according to GCube, which insures more than 100 gigawatts of projects in 40 countries. That has also brought uncertainty to future solar projects, due in part to...
German firms diversify in Asia to reduce China risk – survey
Firms are building supply chains that are independent of China, shifting some operations away from the country and growing markets elsewhere in Asia, according to the survey of 566 companies conducted between Sept. 5 and Oct. 6 Nearly half of German companies...
War risk insurance rates edge up after surge in Red Sea ship attacks
Insurance industry sources said that war risk premiums had stayed firm on Monday at between 0.05% to 0.1% of the value of a ship, from around 0.03% estimated last week before the attacks. This translates into tens of thousands of dollars of additional costs for a...