From an economic perspective, the widespread impacts would be...
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Cat bonds see rapid influx of investors
Plenum estimates that the volume of catastrophe bonds in funds...
Insurers’ climate losses almost match premiums from fossil fuels
On average, fossil-fuel premiums account for less than 2% of total...
BOC Aviation says lessors seeing ‘horrendous’ hikes in insurance costs
Over 400 leased planes worth almost $10 billion remained in Russia after a March 28 deadline to cancel the contracts in line with Western sanctions over the war in Ukraine, leaving lessors facing heavy potential writedowns or a long insurance battle The likely huge...
Big online firms face 0.1% supervisory fee under new EU rules
The move comes as the Commission seeks new sources of revenue to fire up the region's economic growth in the wake of the pandemic and also foster a greener and more digital economy. "The overall amount of the annual supervisory fees shall be based on the estimated...
Insurer Tokio Marine says Greensill took out policies fraudulently
Credit Suisse said in a statement that the insurance policies were valid, and that it would also “vigorously defend” its position to preserve the rights of the supply chain finance funds and their investors Companies linked to insolvent British financier Lex Greensill...
Solar Storm to Hit Earth, Airlines to monitor radiation levels
A G3 storm can trigger false alarms for protection devices in power grids, create drag on low-orbiting satellites and disrupt high-frequency radio traffic In early February, Space X lost 40 Starlink satellites when they were launched into a geomagnetic storm A solar...
18th SIRC 2022 will be an in-person event during Oct 31- Nov 3, 2022
“Our unswerving focus is to ensure that this year’s SIRC is as close as possible to the last pre-pandemic event held in 2019 - delivering both leading-edge insights and unparalleled networking opportunities,” said SRA Chairman Marc Haushofer It will have an online...
Shanghai extends lockdown to entire city as tests show COVID spread
The costs to the world's second-biggest economy mount. Some 23 Chinese cities are under total or partial lockdown, affecting an estimated 193 million people in areas accounting for 13.6% of its gross domestic product, the Nomura brokerage said in a note on Tuesday...
London marine insurers label all Russian waters high risk
Marine insurers said any rise in premiums was expected to take a few days after a notification period Russia's maritime sector is grappling with the winding down of services including ship certification by leading foreign providers - needed for accessing ports and...
World Bank says war shocks to drag on Asian economies
The report forecasts slower growth and rising poverty in the Asia-Pacific region this year as “multiple shocks” compound troubles for people and for businesses. The report pointed to three main potential shocks for the region: the war, changing monetary policy in the...
Singapore port authority probes alleged bunker fuel contamination
Marine insurer Gard said in a statement that some of the vessels it insures had suffered operational issues including blackouts, and in some cases ships needed to be towed back to port Singapore is the largest marine fuel supplier in the world and sits at the...
Thailand cancels licenses of 2 P/C insurers
The firms were in serious financial trouble, which could have damaged their clients and the wider public, the Office of Insurance Commission said in a statement late Friday The government will be responsible for payments of outstanding claims and the revocation of the...