The ruling relates to 147 planes and 16 engines that had insurance...
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EU proposes ban on Nord Stream gas pipeline, reduction of oil price cap
EU firms are involved in an array of service provision for Russia...
Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident...
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...
Smoke from Canada wildfires deteriorates New York air quality; surpasses New Delhi’s pollution level
Situation was such that the picturesque and renowned skyline of New York City became invisible on Wednesday behind a hazy veil of smoke from the Canadian wildfires flowing into the region The air quality of New York city has deteriorated as smoke from the Canadian...
MS Amlin launches new AI-powered claims triage process to support operational transformation
The new state-of-the art-triage process embeds an artificial intelligence (AI) model, which assesses and assigns claims based on certain criteria and proprietary scoring algorithms, into MS Amlin’s claims workflow LONDON: MS Amlin, the Lloyd’s global (re)insurer,...
Bangladesh, World Bank sign $858M to enhance climate-resilient agricultural growth and road safety
“These two projects will be important to help the country remain on a sustainable growth path through boosting climate-resilient agricultural productivity and enhancing the income of hundreds and thousands of farmers as well as protect the people and the economy from...
EU Commission allocates $1.3 bln to tackle mental health ‘silent epidemic’
The Commission said mental health problems already impacted around 84 million people before the COVID-19 pandemic with an economic cost of about 600 billion euro a year, or 4% of the bloc's GDP Brussles: The European Commission said on Wednesday it would allocate 1.23...
Geneva Association celebrates its 50th anniversary
Christian Mumenthaler, Chairman of The Geneva Association and Group CEO of Swiss Re, said: “What stands out, above all, is how insurers and reinsurers have dutifully confronted the world’s biggest challenges in the name of building resilience. In the uncertain times...
UK PM Rishi Sunak plans to set up global AI watchdog in London: Report
Among the ideas under consideration in Downing Street is setting up a global AI authority in London, modelled on the Vienna-based International Atomic Energy Agency (IAEA) London: British Prime Minister Rishi Sunak is considering a London-based global artificial...
Wall Street cashing in on the ultra-wealthy
In the past 10 weeks, JPMorgan Global Wealth Management opened 40,000 new accounts New York: Concerns of a possible global recession are deepening as heightened inflation and interest rates act as a brake on spending, while geopolitical strife adds to a sense of...
1.5C for the planet, 1C for people: Scientists issue new climate warning
The warning - issued this week in research published in the journal Nature - comes late, given that the Earth has already heated up by about 1.2C since preindustrial times. The World Meteorological Organization has said global average temperatures are more likely than...
New Zealand offers to buy out owners of homes damaged by Cyclone
Together with local councils, the government will offer to buy as many as 700 residential properties across the North Island that were damaged by Cyclone Gabrielle and heavy flooding earlier this year, Finance Minister Grant Robertson said Thursday in Wellington. It...