Chris Burgess, Director of Cyber at Markel International,...
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UK’s financial regulator to relax rules for pushing insurance to large companies
The changes aim to better differentiate big corporates from smaller...
Wildfires and floods cause billion-dollar economic loss in Asia Pacific in the first quarter of 2025: Aon Report
George Attard, CEO for Reinsurance Solutions for APAC , Aon In the...
Rich nations pledge to unlock hundreds of billions of dollars for climate fight
The leaders, gathered at a summit in Paris to thrash out funding for the climate transition and post-COVID debt burdens of poor countries, said their plans would secure billions of dollars of matching investment from the private sector An overdue pledge of $100...
Marsh McLennan to work with Ukrainian government to unlock access to global insurance market
It follows the proposals that Marsh McLennan has made to Ukrainian and G7 governments for the creation of a war risk insurance pool. This would be a multinational public-private partnership based on the existing terrorism insurance pools that currently operate in...
US climate change lawsuit seeks $50 billion, citing 2021 heat wave
Rather than acknowledge the dangers of climate change, the lawsuit said the fossil fuel industry worked to undermine the scientific consensus around the problem “with pseudo-science, fabricated doubt, and a well-funded, sustained public relations campaign to promote...
Google backs creation of cybersecurity clinics with $20 mn donation
Sundar Pichai,CEO,Google Google CEO Sundar Pichai said the new initiative addresses both the rising number of cyberattacks up 38 per cent globally in 2022 and the lack of candidates trained to stop them. While many groups think there is nothing they can do against a...
Ex-Goldman Sachs banker Brijesh Goel convicted of insider trading
Goel, 38, was convicted on Wednesday after a seven-day trial for tipping off former Barclays Plc trader Akshay Niranjan about deals at Goldman, yielding total illegal profits of approximately $280,000 Goel was convicted of four counts of securities fraud and one count...
U.S. bank regulators considering tougher rules for banks over $100 bln in size
FDIC Chairman Martin Gruenberg said in a speech the spring turmoil in the banking sector showed firms of that size pose a risk to the financial system and merit stricter oversight. Three banks failed during the spring, requiring regulators to step in and backstop...
Lawsuit: Insufficient prototype testing could put Titanic sub passengers in ‘extreme danger’
David Lochridge, OceanGate’s director of marine operations, wrote an engineering report in 2018 that said the craft under development needed more testing and that passengers might be endangered when it reached “extreme depths,” according to a lawsuit filed that year...
Britain says insurer capital rule changes to start by end of 2023
The risk margin refers to the potential cost for a failing insurer to transfer its policies to a third party to avoid disruption to customers. "It is considering options to enable reforms to the matching adjustment to come into force by the end of June 2024, and the...
Transformative industry trends present $200 billion opportunity for re/insurers: Aon Report
Sherif Zakhary, CEO of Aon’s Strategy and Technology Group, said: “These megatrends each equate to risk and opportunity for the global insurance industry, and so as risk experts we cannot afford to sit on the sidelines and wait for these trends to crystalize. We have...
Delta variant, a warning the COVID-19 virus is getting ‘fitter and faster’
Tedros Adhanom Gebreyesus,Director-General, WHO Almost 4 million cases worldwide were reported last week to WHO and the agency expects the total number of cases to pass 200 million, in the next two weeks. "And we know this is an underestimate", underscored...