Stefan Wunderlich,head of Parametric Insurance Beazley has a...
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Climate change altering laws of mortgage risk: Fitch
Fitch is now in the process of integrating physical climate risks...
UK judge warns of risk to justice after lawyers cited fake AI-generated cases in court
High Court justice Victoria Sharp said the misuse of AI has...
Visa and Mastercard slow down on plans to forge new partnerships with crypto firms
The crypto industry saw a stunning reversal of fortunes in 2022 as bankruptcies of industry majors FTX and BlockFi rattled investors and increased regulatory scrutiny on the sector “Recent high-profile failures in the crypto sector are an important reminder that we...
Tesla and Elon Musk sued by shareholders for overstating the effectiveness and safety of company’s EVs
In a proposed class action filed in San Francisco federal court, shareholders said Tesla defrauded them over four years with false and misleading statements that concealed how its technologies, suspected as a possible cause of multiple fatal crashes, “created a...
Expected rise in strikes, riots and protests to test business resilience: Allianz
The heightened SRCC risk environment means businesses need to remain vigilant about the different threats such activity can pose. In addition to buildings or assets suffering costly material damage, operations can be severely disrupted, resulting in significant loss...
Global cyber-insurance market makes a comeback, Price hikes moderate
Cyber-insurance pricing increased 10% from a year earlier in January, a fraction of the 110% annual increase reported in the first quarter of 2022, preliminary data from insurance broker Marsh McLennan show. If those trends continue, prices could be set to decline,...
Insurers face $500 million in claims for up to 60 commercial ships stuck in Ukraine
With insurers already grappling with exposure to commercial aircraft caught up in Russia, the prospect of payouts will likely translate into higher costs for shipments from the region A senior industry source said exposure for the ships currently stuck was estimated...
Over 1 billion in 43 nations at risk amid cholera outbreaks, WHO says
Right now, 22 countries across the world are fighting outbreaks of the acute diarrhoeal infection caused by eating or drinking contaminated food or water. Cholera cases climbed in 2022, following years of falling numbers of cases, and the trend is expected to continue...
Buffett’s Berkshire records annual operating profit despite inflation, rate pressures
Warren Buffett, chairman,Berkshire Hathaway Berkshire did spend $11.5 billion in the fourth quarter to buy the insurance company Alleghany. Warren Buffett’s Berkshire Hathaway on Saturday reported its highest-ever annual operating profit, even as foreign currency...
Some companies begin replacing human employees with ChatGPT
Companies are using ChatGPT to write codes, copywriting and content creation, customer support and preparing meeting summaries Companies that use ChatGPT said they saved money using the AI tool, with 48 per cent saved over $50,000 and 11 per cent saved over $100,000,...
Experts say bird flu threat small despite Cambodian fatality
Bird flu, also known as avian influenza, normally spreads between sick poultry but can sometimes spread from poultry to humans. The recent detection of infections in a variety of mammals, including at a large mink farm in Spain, has raised concern among experts that...
IMF flags debt restructuring hurdles, says banning crypto should be an option
"We have to differentiate between central bank digital currencies that are backed by the state and stable coins, and crypto assets that are privately issued," Georgieva said. "There has to be very strong push for regulation… if regulation fails, if you're slow to do...