The ECB is moving faster than other central banks in treating the...
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Israel-Iran Conflict: War risk insurance premiums for shipments to Israel spurt
Individual underwriters will price risk and rates differently, but...
US spends nearly $1 trillion on disaster recovery and other climate-related needs over last one year
Overall, increased climate costs from insurance premiums, power...
Hard property catastrophe reinsurance market to support 2023 margins: Fitch
Fitch forecasts broadly stable underlying profitability for the global reinsurance sector in 2023, and is maintaining its neutral fundamental sector outlook. Frankfurt/Chicago/London: Reinsurance rates for property catastrophe business should increase by well over 10%...
Global marine industry: Most expensive claims caused by fire and explosion incidents
;The combined value of the global merchant fleet increased 26% to $1.2trn in 2021 while the average value of container shipments has also been rising with more high-value goods such as electronics and pharmaceuticals "The risk of theft and damage to high-value cargos...
Australia’s extreme weather events to worsen as climate warms
In a dire report released Wednesday that will add to pressure on the government to take firmer action on climate change, the Commonwealth Scientific and Industrial Research Organisation and the Bureau of Meteorology said rising greenhouse gas levels are causing the...
Aircraft lessors sue insurers for $6.5 billion over seized Russian planes
More than 400 leased planes worth around $10 billion are unable to leave Russia after European Union sanctions forced the termination of their leases.Lessors argue the aircraft are covered by policies against war or theft, but insurers point out the planes are...
Russia reiterates it won’t sell oil to nations that cap prices
The cap, which is also backed by the European Union, would ban companies from providing services, including shipping and insurance, to Russian oil shipments anywhere in the world, unless it’s sold below the agreed threshold Russia doesn’t plan to supply crude or oil...
Violent protests erupt at Apple’s biggest iPhone-making plant in China
The Foxconn situation serves up another reminder of the dangers for Apple of relying on a vast production machine centered on China at a time of unpredictable policy and uncertain trade relations Hundreds of workers at Apple Inc.’s main iPhone-making plant in China...
India calls on global AI group members to come up with framework to prevent user harm
"We all should be concerned about user harm. I would encourage member states to think about evolving a common framework of rules and guidelines about data governance, safety and trust as much to do with the internet as to do with AI." Minister of State for Electronics...
China’s Fosun appoints Deutsche Bank to sell Peak Re – sources
The Chinese conglomerate owns 86.9% of Peak Re, and it is not immediately clear what valuation a sale would ascribe to the reinsurance firm. Peak Re said in its 2021 annual report its total equity was $1.47 billion at the end of 2021 HONG KONG/LONDON: China's Fosun...
“In today’s global economy, the food and drink industry is no stranger to the effects of shifting geopolitics and economic uncertainty. It is arguably more important than ever that businesses ensure the safe and timely transportation of critical and often perishable...
WHO convenes experts to identify new pathogens that could spark pandemics
“Targeting priority pathogens and virus families for research and development of countermeasures is essential for a fast and effective epidemic and pandemic response”, said Dr. Michael Ryan, Executive Director of WHO’s Health Emergencies Programme Geneva: The World...