Still, threat levels for shipping remained high given the Houthis'...
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Trade War: Container liners sever US-China shipping routes across the Pacific
As a result, fees are plunging. The cost of shipping a 40-foot box...
Emirate royal family’s International Holding Co and Black Rock Inc float a $ 1 billion reinsurance co
The new firm will make use of AI as a core part of the strategy,...
EU regulators may demand Google to sell part of ad-tech business – source
The EU’s top antitrust watchdog, the European Commission, could issue a formal complaint against Google as early as Wednesday, the source said, further intensifying trans-Atlantic efforts to diminish the tech giant’s dominance in digital ads European Union antitrust...
JPMorgan agrees to pay $290 million to settle Jeffrey Epstein case
The “agreement in principle” would settle a proposed class action filed by an unnamed Epstein victim late last year, JPMorgan said in a statement Monday. The bank makes no admissions of liability, the person said, asking not to be identified because the matter is...
SCOR chairman Kessler, 71, passes away, company pays tribute
Denis Kessler Thierry Léger, chief executive officer, SCOR, said, “Over the past two decades, Denis Kessler has been the architect behind SCOR’s success and reputation throughout the world. His passion for reinsurance was unparalleled, and his ambition to make SCOR an...
UN says London market insurance coverage secured to salvage rusting oil tanker off Yemen
The insurance is supported by significant engineering expertise, which has been mobilised to undertake the movement of the oil, and includes naval architects, chemists, surveyors and oil spill response organisations, as well as government entities and the UN London:...
Putin signs law to establish Eurasian Reinsurance Company
The company will provide insurance support for the mutual and foreign trade of Eurasian Economic Union (EAEU) countries, Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. stimulate the development of investment cooperation, and support export loans and cooperation...
Russia-linked hackers give British Airways and the BBC a week to open ransom negotiations
The hacker group, known as Clop, said companies that use the secure file transfer product MOVEit from Progress Software Corp. should email it before June 14 or else it would publish stolen data, according to a statement on the gang’s darkweb page A Russian-speaking...
UK Eyes War-Risk Insurance Scheme for Ukraine’s reconstruction
The danger of war damage, as well as longer-term political and economic instability, have seen the costs of insuring investments in Ukraine shoot up, often pricing out both investors and private insurers. Ukrainian President Volodymyr Zelenskiy has called on allies to...
California insurers’ inability to price risk is causing headaches
State regulations ask wildfire insurers to set rates for annual catastrophic coverage as a fraction of damages accrued over 20 years — without mention of models that can capture the accelerated rate of land use change and development, weather and wind trends or the...
NASA mission to avert ‘internet apocalypse’ that could pause online access for months
Scientists have warned about the potential impact of an upcoming solar storm, commonly referred to as an "internet apocalypse", which could strike within the next decade NASA has launched a spacecraft as part of a mission in an effort to avert a potential "internet...
El Nino is back in action, threaten food productions across Asia
Experts say that a strong El Nino could hit sugar production in India and Thailand, and possibly disrupt the sugarcane harvest in Brazil. They also see risks for coffee production in Vietnam, the world's second-largest producer LONDON: El Nino has officially returned...