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Vessels near Strait of Hormuz transmit unusual messages to prevent attacks
“The perception among shipowners is that due to the convoluted...
Cyberattack disruption at London hospitals contributed to patient death
“We are deeply saddened to hear that last year’s criminal...
UK parliament votes for assisted dying, paving way for historic law change
The "Terminally Ill Adults (End of Life)" law would give mentally competent, terminally ill adults in England and Wales with six months or less left to live the right to choose to end their lives with medical help LONDON: Britain's parliament voted on Friday in favour...
Israel-Iran conflict spreads into cyberspace and crypto
“Most disruptive and destructive cyberattacks are about influence and psychological impact rather than practical impact,” said John Hultquist, chief analyst at Google’s Threat Intelligence Group. “That’s why a lot of them involve an effort to publicize the incidents...
Iran-Israel Attacks: Insurance costs jump for ships sailing in Persian Gulf
Underwriters are now charging 0.2% of the value of a ship for calls into the Gulf, up from 0.125% prior to the conflict breaking out, according to Marcus Baker, global head of marine cargo and logistics at Marsh McLennan, the largest insurance broker. Rates have also...
Boeing 787’s emergency-power system likely active before Air India crash, WSJ reports
The preliminary finding raise questions about whether the plane's engines functioned properly during takeoff, the report said. The Dreamliner was fitted with GE Aerospace's GEnx engines. Investigators believe the Air India Boeing Dreamliner had its emergency-power...
Battery Ventures invests in Descartes Underwriting
“Over the past six years, Descartes has established itself as the leading parametric insurance business for climate-related risks, remaining true to our scientific approach to risk transfer.''Tanguy Touffut, CEO and co-founder PARIS: Descartes Underwriting, a major...
Nuclear-powered ships may reshape trade with cleaner, faster transport, to pose problems for insurance
Commercial insurance companies won’t provide coverage for ship that runs on fission because the potential cost of a nuclear accident is simply too high. Without insurance, few civilian ports would allow a nuclear-powered cargo ship to dock The commercial shipping...
Florida focused insurtech Slide plans to $340 million US IPO
Slide and some of its existing stakeholders are looking to raise up to $340 million by offering 20 million shares priced between $15 and $17 each, the company revealed in a filing on Monday. Insurance tech company Slide is aiming for a valuation of up to $2.12 billion...
ECB embeds climate risk to its supervisory approach on bank losses
The ECB is moving faster than other central banks in treating the fallout from climate change as a financial risk that has the potential to threaten bank solvency. That’s in contrast to the Federal Reserve, with Chair Jerome Powell recently stating that climate isn’t...
Israel-Iran Conflict: War risk insurance premiums for shipments to Israel spurt
Individual underwriters will price risk and rates differently, but this will add tens of thousands of dollars of extra daily costs for every voyage War risk insurance premiums for shipments to Israel are as much as three times higher than a week ago as the war between...
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 outages, disaster recovery and uninsured damage are responsible for $7.7 trillion, or 36%, of US GDP growth since 2000. Risks are rising both from climate change, as it increases the severity and...