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U.S. insurers face higher loss costs and market risks from trade war: Fitch
Property casualty (PC) insurers face cost inflation in personal...
Hurricanes and earthquakes could lead to global insured losses of $ 300 billion in a peak year, Swiss Re
Balz Grollimund, Swiss Re's Head of Catastrophe Perils, said: "Our...
EU lawmakers’ committees agree tougher draft AI rules
The European Union's highly anticipated AI Act looks set to be the world's first comprehensive legislation governing the technology, with new rules around the use of facial recognition, biometric surveillance, and other AI applications European lawmakers came a step...
China audits littered with deficiencies, US accounting watchdog finds
The U.S. Public Company Accounting Oversight Board (PCAOB)published the findings of its inspections after gaining access to Chinese company auditors' records for the first time last year following more than a decade of negotiations with Chinese authorities. That...
One pregnant woman or newborn dies every 7 seconds: new UN report
A pregnant woman has a prenatal check-up at a hospital in Muttuck, India The report shows that over 4.5 million women and babies die every year during pregnancy, childbirth or the first weeks after birth, equivalent to one death happening every seven seconds, mostly...
EU plans tough ‘value for money’ rules for investment products – draft document
The draft law calls on EU securities watchdog ESMA and its counterpart for the insurance sector, EIOPA, to come up with benchmarks industry would have to use to show that the cost of a product is justified and proportionate Banks, insurers and asset managers in the...
SEC issues largest ever whistleblower award of $279 million
“As this award shows, there is a significant incentive for whistleblowers to come forward with accurate information about potential securities law violations,” said Gurbir Grewal, director of the SEC’s Division of Enforcement, in a statement The U.S. Securities and...
AXA XL appoints Global Innovation Lead
Dan Bendavid as Global Lead – Innovation, AXA XL Ashok Krishnan, Chief Innovation, Data and Analytics Officer at AXA XL, commented,“ The insurance industry is undergoing a tremendous amount of change, and so are our clients’ businesses. We understand the...
Supply chain risks spur demand-bulge for business interruption coverage: WTW Survey
“From multiple geopolitical tensions to ongoing inflationary pressures, global uncertainty is adding complexity to businesses just as they are recovering from the supply chain crisis. They will now be in catch-up mode against a disruptive environment, facing...
Buffett’s Berkshire posts $35.5 bln profit, buys back more stock
Warren Buffett Those results benefited from Geico snapping a six-quarter string of underwriting losses, and a 68% increase in the income Berkshire's insurance units generate from investments Warren Buffett's Berkshire Hathaway Inc posted a $35.5 billion first-quarter...
WHO declares end to COVID global health emergency
The WHO's emergency committee first declared that COVID represented its highest level of alert more than three years ago, on Jan. 30 2020. The status helps focus international attention on a health threat, as well as bolstering collaboration on vaccines and treatments...
WHO experts to weigh whether world ready to end COVID emergency
"It is possible that the emergency may end, but it is critical to communicate that COVID remains a complex public health challenge," said Professor Marion Koopmans, a Dutch virologist who is on the WHO panel. She declined to speculate further ahead of the discussions,...