Mexico President Claudia Sheinbaum “Who we have a dispute with is...
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Willis and Global Parametrics deliver new parametric solution to coffee farmers in Vietnam
If the rainfall dips below predefined values, the insurance is...
Convex enters Lloyd’s with Syndicate 1984
Syndicate 1984 will be led by active underwriter, Jacqueline...
Munich Re retains its top position, Asian reinsurers lose rankings in AM Best’s 2022 global list
All the top three Asian reinsurers, China Re, Korean Re and GIC Re, have lost their global rankings in 2022. Korean Re, which have been in the 10th place in 2020, fell off to 13th this year owing to currency position. Despite premium growth of around 7 per cent, China...
Climate risks make Australian home insurance costlier
On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in the rest of the country, an Actuaries Institute report released on Wednesday showed. Australia’s mounting extreme weather...
UK water supplier hit by ‘Extremely Concerning’ cyber attack, vulnerabilities of critical infra exposed
Cybersecurity experts said the breach was alarming but cautioned that it wasn’t clear how deeply the hackers had penetrated the system and whether there may have been controls in place that could have prevented unauthorized tampering with water supplies A company that...
Andrew Hare appointed as managing director, APAC at RMS
Hare said, “Climate change and natural catastrophes, such as flood, fire, earthquake, and typhoon, continue to wreak havoc on the Asia-Pacific region. Following the devastating effects of the Covid-19 outbreak as well as chronic supply-chain disruptions, heightened...
Global reinsurers shift their business mix into casualty & specialty primary lines for price comfort
Even with rate increases, most reinsurers view current pricing on property catastrophe risks still not high enough to compensate for the ongoing level of uncertainty, whereas casualty and specialty primary lines are more attractive as they comparatively generate more...
Scope of EU ban on Russian coal and fertilizers jolts insurers
“The prohibition relating to coal and to certain fertilizers refers both to the “purchase” and the “transfer” of these goods, irrespective of final destination,” Arianna Podesta, a European Commission spokeswoman, told Bloomberg in an email. Those sanctions extend to...
Caste in California: Tech giants confront ancient Indian hierarchy
The update came after the tech sector - which counts India as its top source of skilled foreign workers - received a wake-up call in June 2020 when California's employment regulator sued Cisco Systems on behalf of a low-caste engineer who accused two higher-caste...
Feeding the world’s coal addiction is more profitable than ever
Despite the huge deployment of renewables, burning coal remains the preferred way of generating electricity worldwide, accounting for 35% of all electricity.As Western producers take advantage of record prices – with companies such as Glencore pledging to operate the...
Biden admin announces $3 billion in FEMA climate resilience funding
The White House said in April that the upper range of climate change’s hit to the U.S. budget by the end of the century could total a 7.1% annual revenue loss, equal to $2 trillion a year in today’s dollars The Biden administration on Friday announced it is putting...
Chinese technology in ‘Internet of Things’ poses new threat to West: Reports
The Internet of Things (IoT) has evolved from niche industrial applications to being ubiquitous in homes, offices and some vehicles. These technologies are great to help in our day-to-day life but it turns out to be data collectors which can be used by a hostile state...