Eliminating cross shareholdings is seen by many as a yardstick for...
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Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost...
Geneva Association report calls for action to safeguard home insurance amid rising extreme weather risks
“Extreme weather is no longer a future threat – it’s disrupting...
Asian Development Bank to provide $2.3-$2.5 bn for flood ravaged Pakistan
According to the federal government's estimate, the floods have caused a collective loss of more than USD 40 billion Islamabad: The Asian Development Bank on Wednesday announced that it will provide USD 2.3 to 2.5 billion for relief operations in the wake of...
Australia unveils privacy rule changes after Optus data breach
The changes will enable telcos to share government-issued identification documents with banks to allow them to implement enhanced monitoring for customers impacted by data breaches Australia on Thursday proposed an overhaul of consumer privacy rules that will help...
AM Best Maintains Stable Outlook on Japan Non-Life Insurance Market
While AM Best expects premium revenue to increase, mainly driven by fire, personal accident and other specialty insurance, it is probable that underlying underwriting profit will contract from a higher loss ratio for voluntary automobile insurance. Potentially higher...
World Bank says goal of ending extreme poverty by 2030 won’t be met
The COVID-19 pandemic marked a historic turning point after decades of poverty reduction, the report said, with 71 million more people living in extreme poverty in 2020. That meant 719 million people - or about 9.3% of the world's population - were living on just...
Pilots union opposes granting Boeing 737 MAX 7, 10 cockpit alerting extension
Allied Pilots Association President Capt. Edward Sicher said "Boeing needs to proceed with installing modern crew alerting systems on these aircraft to mitigate pilot startle-effect and confusion during complex, compound system malfunctions." The union representing...
Dementia: WHO launches blueprint to tackle generational health challenge
Soumya Swaminathan,Chief Scientist, WHO Although dementia is the seventh leading cause of death globally, dementia research accounts for less than 1.5 per cent of total health research output", said WHO Chief Scientist Soumya Swaminathan "Sadly, we are falling behind...
Hospitals and infrastructure are most vulnerable to Cyber risks: Moody’s
“We view not-for-profit hospitals as being highly attractive, data-rich targets with average mitigation measures in place to reduce the impact of a potential cyber event,” the report said Around $22 trillion of global debt rated by Moody’s has a “high” or “very high”...
Lemonade enters UK with Aviva’s strategic partnership
Founded in 2015, Lemonade launched its flagship renters insurance in the United States in 2016, where it is now ranked one of the top renters insurance products in the market LONDON & NEW YORK: Lemonade, the insurance company powered by AI and social impact, today...
Swiss Re and Indonesia Re form partnership to support the underwriting decisions of the members Insurance Data Centre Management Agency (BPPDAN)
“Heightened risk awareness in Indonesia is fueling more demand for insurance protection. To remain competitive in a dynamic risk environment, enhancing underwriting performance and portfolio steering are key differentiators for insurance organisations,” said Monami...
Global coalition with insurers devise tool to measure Workplace Mental Health
The assessment, known as the Mental Health at Work Index, will score the effectiveness of an organization’s mental-health programs and recommend enhancements. The goal is to “help define what good looks like,” said Christina McCarthy, executive director of One Mind at...