Jean-Paul Conoscente, CEO of SCOR P&C, commented: “Restore...
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Korean Re launches operations in India’s GIFT City
JG Won, President & CEO, Korean Re, announcing the launch of...
Severe convective storms: Costliest insured global peril in 21st century, says Aon Report
"This year's report highlights the growing need for collaboration...
Australia imposes sanctions on Russian hacker over Medibank breach
This is the first time Australia has used its cyber sanctions framework since legislating it in 2021. The sanction makes it a criminal offence, punishable by up to 10 years in jail and fines Australia on Tuesday imposed cyber sanctions on a Russian man for his role in...
Global watchdog to report in October on how social media fuels bank runs
Depositors pulled $42 billion from Silicon Valley Bank in just 10 hours. FSB Secretary General John Schindler said the watchdog is looking at how have deposit dynamics changed, what role has social media played, and what role has new technology played now that...
Bermuda reinsurer returns peaking, to remain favorable in 2024: Fitch
``We expect market conditions to remain favorable at the 2024 midyear renewals, although with stabilizing rates as pricing is generally sufficient. (Re)insurers are also expected to mostly maintain the tighter terms and conditions negotiated in 2023,'' said Fitch New...
Spanish court rules Facebook moderator suffered work-related mental trauma
It is the first time in Spain that a court has recognized a content moderator’s sick leave was caused by their job, said Francesc Feliu, the worker’s lawyer who is also representing around 20 other former and current content moderators at CCC on similar legal grounds...
Near record jump in CO2 emissions expected in 2024 risks climate goal
The jump is the result human-induced pollution, plus the El Niño weather pattern, which weakens the ability of the world’s natural carbon sinks to absorb CO2, according to a forecast by the UK’s Met Office Carbon dioxide emissions are on track for one of the biggest...
Hedge funds rake in huge profits betting on catastrophe risk
The best hedge fund strategy of 2023 was a bet on insurance-linked securities (of which catastrophe bonds are the dominant sub-category), which generated over 14%, according to Preqin, a consultancy that provides data on the alternative asset management industry....
Russian charter flight with 6 people disappears over Afghanistan; crash reported
Russian aviation authorities said in a statement the plane was a charter ambulance flight traveling from India, via Uzbekistan to Moscow on a French-made Dassault Falcon 10 jet manufactured in 1978 Russian aviation authorities said on Sunday a Russian-registered...
Zuckerberg’s firms fined $2.8bn for wrongful user data processing in last 4 yrs: Report
Mark Zuckerberg, CEO, Facebook "The fines levied on Meta are mainly based on the requirement for companies to store data in the country where it is collected rather than permitting unrestricted movement to global data centres," the report said New Delhi: Mark...
Traffic through the Panama Canal is being cut due to drought, disrupting global trade
On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times A severe drought that began last year has forced authorities to slash ship...
Russia allocates another $1.23 bln to company buying planes from Western lessors
Russia has allocated an additional 107.7 billion roubles ($1.23 billion) from its rainy day fund to a state company that has been purchasing aircraft from foreign lessors, the finance ministry said on Wednesday. The ministry said it had purchased bonds of NLK-Finance,...