The Himalayan region, which crosses Nepal and several nearby...
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APAC records significant rise in cyber claims driven by rising frequency and sophistication, Aon report
“As cyber threats grow more complex and interconnected, companies...
Earnix and Sapiens partner to unlock operational efficiency for P&C insurers in EMEA and APAC
The solution is tailored for insurers in EMEA and APAC. This...
Container vessel runs aground in Hooghly river safely refloated later
The incident, which took place at around 11.30 am, had caused concerns as the vessel was carrying 338 containers from Port Kelang in Malaysia, bound for Netaji Subhash Dock under Kolkata Dock System Kolkata: The 140-metre-long container vessel, MTT Singapore, which...
EU companies get new ESG rules aimed at addressing climate risks
Companies will have to disclose whether they have climate transition plans and also report relevant social factors, including human rights violations, as part of the larger plan to highlight the investment risks and opportunities presented by ESG factors Companies...
Aircraft lessors set for June 2024 trial over Russia insurance claims
Lessors are suing dozens of insurers around the world for billions of dollars after more than 400 planes were unable to leave Russia due to Western sanctions in response to Moscow’s invasion of Ukraine that forced the termination of their leases Some of the world’s...
Extreme heat rendering parts of the world too hot to insure
Rising temperatures are disrupting economic activity and daily life across the globe, sapping crops, drying rivers and raising sea levels. Scientists suspect the last several years have been warmer than any point in over 125,000 years Soaring global temperatures may...
Possible Chinese malware in US systems a ‘ticking time bomb’: Report
"The Biden administration is working relentlessly to defend the United States from any disruptions to our critical infrastructure, including by coordinating interagency efforts to protect water systems, pipelines, rail and aviation systems, among others," said Adam...
Indian-made cold syrup sent to Iraq contains poison, test shows
A bottle of Cold Out purchased at a pharmacy in Baghdad in March contains 2.1 per cent ethylene glycol, according to Valisure LLC, an independent US laboratory. That’s about 21 times the widely accepted limit. The compound is lethal to humans in small amounts and...
Global economic cat losses at $ 110 billion, insurance claims of $43 billion in H1 2023
Thomas Blunck, member of the Board of Management In the Asia-Pacific region, natural disasters resulted in overall losses of approximately US$ 7bn, of which roughly US$ 3bn was insured Earthquake in Turkey and Syria was by far the most devastating natural disaster in...
Ship carrying nearly 3,000 cars ablaze off Dutch coast, crew member dead
“The fire is most definitely still not controlled. It’s a very hard fire to extinguish, possibly because of the cargo the ship was transporting,” said Edwin Versteeg, a spokesperson for the Dutch Department of Waterways and Public Works. “Electric cars burn just as...
Macroeconomic, geopolitical conditions pose severe risks to organisations: WEF Survey
Recent months have also seen a sharp increase in discussion of technology-related risks. CROs broadly agree that risk management is not keeping up with the rapid development and deployment of AI technologies, with 75% saying the use of AI technologies poses...
Fed raises interest rates, leaves door open to another increase
US Fed Chair Jerome Powell As it stated in June, the Fed said it would watch incoming data and study the impact of its rate hikes on the economy "in determining the extent of additional policy firming that may be appropriate" to reach its 2% inflation target...