Fire activity has surged in recent weeks as another blast of...
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Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google admitted the arrangement had a substantial impact on...
AM Best’s Top 50 Global Reinsurers: Swiss Re unseats Munich Re as new No 1 among IFRS-17 players in 2024
Now, AM Best's ranking of “World’s 50 Largest...
Russia’s flagship oil above $60 does little to halt G-7 services
Insurers have complained publicly about the risks of covering cargoes using the attestation system in recent months. There has also been a drop off in the number of ships calling at Russian ports with industry-standard insurance from members of the International Group...
Japan to release Fukushima water into ocean from Aug. 24
The announcement comes a day after the government said it had won “a degree of understanding” from the fishing industry over the release of the water into the Pacific Ocean, even as fishing groups said they still feared the reputational damage would ruin their...
Ukraine in talks with insurers on deal to cover grain exports
Attacks by Russian forces on agricultural infrastructure in recent weeks have helped sustain sky-high insurance premiums for ships calling into Ukraine Current market rates for war risk insurance can be anywhere between 3% and 5% of the value of a ship, meaning there...
Insured losses from natural catastrophes set to top $100 billion in 2023
More than two-thirds of the insured losses were as a result of severe thunderstorms in the US. The 12-figure threshold is likely to be passed even though just $5 billion of the $40 billion in damages caused by the year’s most devastating event — the earthquake that...
Marsh agrees to acquire Honan Insurance Group, seeks to expand its presence in Australia and New Zealand
“The addition of Honan’s highly complementary capabilities, particularly in corporate risk and strata insurance, will enable Marsh to deepen the specialist expertise we provide to clients across Australia and New Zealand,” Nick Harris, chief executive officer of...
AI unlikely to destroy most jobs, but clerical workers at risk, ILO says
An explosion of interest in generative AI and its chatbot applications has sparked fears over job destruction, similar to those that emerged when the moving assembly line was introduced in the early 1900s and after mainframe computers in the 1950s. However, the study...
The FAA orders quick inspections of some Pratt & Whitney turbofan engines on Airbus jets
U.S. regulators are requiring immediate inspections and possible repairs to Pratt & Whitney engines on some Airbus passenger jets because of a manufacturing problem that could cause parts to wear out sooner than expected WASHINGTON: U.S. regulators are requiring...
COVID-19 still a global health threat, new variant under scanner: WHO chief
Although COVID-19 is no longer a global health emergency, it remains a global health threat. WHO has recently classified a new variant with a large number of mutations. BA.2.86 variant is under monitoring at present, highlighting once again the need for all countries...
UK PM Sunak commits to triple-lock pension policy despite inflation
Last November, with inflation in double-digits, finance minister Jeremy Hunt decided to raise state retirement and welfare benefits payments in line with price growth at a cost of about 11 billion pounds London: British Prime Minister Rishi Sunak said he was committed...
AI with 95% accuracy can steal passwords by ‘listening’ to keystrokes: Study
"The ubiquity of keyboard acoustic emanations makes them not only a readily available attack vector but also prompts victims to underestimate (and therefore not try to hide) their output," the study said "For example, when typing a password, people will regularly hide...