Tesla CEO Elon Musk made a string of promises on stage - from, in...
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UNDP, BMZ, Generali and ICMIF Foundation deliver world’s largest inclusive insurance innovation programme across 30 countries
Marcos Neto, UN Assistant Secretary-General and Director, UNDP The...
Boeing may face first civil trial over payouts to Ethiopia crash victims’ families
An eight-person jury would be tasked with deciding how much Boeing...
Use of Weather Derivatives surges as extreme climate events rock the globe
Weather derivatives let buyers hedge against the risk that the weather will damage their business. Unlike insurance, where companies must prove they have suffered a loss, they pay out based on indexes. These might track the temperature in Paris or rainfall in New York...
Israel’s ports feel strain as shipping traffic slows after attacks
Israel is among countries in the Middle East already considered a high-risk area by insurers in the London insurance market, a key center for marine insurance cover.Ships pay an additional war risk premium for seven-day voyages to Israel. Since Saturday’s attacks...
Global economic losses from extreme weather could hit $5 trillion -Lloyd’s
“The global economy is becoming more complex and increasingly subject to systemic threats,” said Trevor Maynard, executive director of Systemic Risks at the Cambridge Centre for Risk Studies London: Global economic losses could reach $5 trillion under a “plausible...
Losses from China disasters reach $42 billion in first nine months of 2023
The emergency management ministry unveiled the unprecedented toll wrought on the nation of 1.4 billion by calamities that ranged from sandstorms to rains that brought massive flooding and historic rainfall in Beijing, the capital BEIJING: China suffered direct...
Asia Pacific Employee Medical Plan Costs for businesses to rise in 2024, highest since 2015: Aon
"Health and wellbeing costs have become an important concern for companies as year-over-year medical plan costs continue to rise. These rising rates often bring unexpected or unbudgeted cost increases and make affordability for employers and employees more difficult,"...
Gallagher Re appoints Jonathan Allard to lead newly created Global Credit & Political Risk team
Recent geopolitical events and macro-economic conditions have driven demand and need for dynamic reinsurance solutions from both the public and private sectors, said Jonathan Allard added London: Global reinsurance broker Gallagher Re has this week appointed Jonathan...
Israel-Hamas conflict: Major airlines suspend Tel Aviv flights until conditions improve
US air carriers United Airlines, Delta Air Lines and American Airlines said they had suspended direct flights.Air France, Lufthansa, Emirates and Ryanair also pulled flights to Tel Aviv’s Ben Gurion airport PARIS/NEW YORK: Several international air carriers said on...
FTX used Python code to fake its insurance fund figure: Co-founder
FTX's insurance fund was designed to protect user losses in case of huge, sudden market movements Washington: The collapsed crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund, according to court testimony by FTX co-founder,...
Casino giant MGM expects $100 million hit from hack that led to data breach
The MGM data breach, which the FBI is investigating, is a vivid example of how large organizations remain vulnerable to cybercrime. Analysts who have tracked Scattered Spider say more and more organizations have been falling for the group’s skilled social engineering...
Death toll from strong earthquakes that shook western Afghanistan rises to over 2,000
The United States Geological Survey said the quake's epicenter was about 40 kilometers (25 miles) northwest of Herat city. It was followed by three very strong aftershocks, measuring magnitude 6.3, 5.9 and 5.5, as well as lesser shocks Islamabad: Death toll from...