Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, says:...
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Italy makes it mandatory for companies to buy climate risk covers
Most Italian businesses — especially small and mid-sized ones —...
ByteDance asks intern in AI breach case to pay $1.1 million damages
The case has drawn attention due to its focus on AI LLM training, a...
New EU rules regulating U.S. tech giants likely to set global standard
Europe's antitrust chief Margrethe Vestager won backing on Thursday from European Union members and EU lawmakers for her proposal, the Digital Markets Act (DMA), to rein in the powers of the tech giants via legislation for the first time, rather than lengthy antitrust...
EU-U.S. data transfer deal cheers business, but worries privacy activists
"A new agreement will provide companies of all sizes the legal certainty to transfer, analyze, and use data on both sides of the Atlantic. The ability to move data is critical in today’s digitally connected economy," said U.S. Chamber of Commerce Executive Vice...
Saudi Aramco storage petroleum facility hit by Houthi attack, causing fire
The Iran-aligned Houthis, who are battling the coalition led by Saudi Arabia, have intensified attacks on energy facilities in the kingdom, the world's largest oil exporter. This week, Riyadh said it would not bear responsibility for any global oil supply disruptions...
Prominent insurance brokers probed by for Bribery and Corruption by UK Serious Fraud Office
The investigation is linked to a U.S. Department of Justice probe into corruption at Ecuador’s state-run insurance fund, Seguros Sucre The insurance firm, which is in the process of being liquidated, is emblematic of a culture of graft that has kept former President...
FAA warns Boeing may not win certification for 737 MAX 10 by year-end
Boeing said Thursday it continues "to work transparently with the FAA to provide the information they need and remain committed to meeting their expectations, including regarding 777-9 and 737-10 certification" WASHINGTON: The U.S. Federal Aviation Administration...
Oscars 2022: Allianz’s Entertainment division insures half of all productions in the “Best Picture” category
Based on industry estimates, the largest film insurance market is Hollywood with approximately $400-500 million of annual insurance premiums, followed by productions from the United Kingdom with approximately $60-70 million China is growing at $45 million, as are...
New York widens lead over London in top finance centres index
London held on to second place despite shedding 14 points to 726. A similar fall next time would put it behind Hong Kong, Shanghai and Los Angeles, and on par with Singapore, based on their current performances (see table). London is now the only European centre in...
Sanjay Godhwani appointed to new executive leadership roles at Berkshire Hathaway Specialty Insurance
Sanjay Godhwani Sanjay will be responsible for all North America Region underwriting and underwriting support groups, customer & broker engagement, and BHSI’s Global Catastrophe Engineering & Analytics group BOSTON & NEW YORK: Berkshire Hathaway Specialty...
Hannover Re makes insurtech innovation platform hr | equarium openly accessible
"Like a dating service for singles, hr | equarium acts as a go-between for insurers and insurtechs and has established itself in this role as the leading innovation platform," said Claude Chèvre, the responsible member of Hannover Re's Executive Board Hannover:...
WTW partners with RIMS for promoting risk management and resilient organisations in APAC
Simon Weaver, Head of Corporate Risk & Broking, Asia and Australasia, and Head of Australasia, WTW, said,`` As the coronavirus becomes endemic, a broad set of societal risks have become ever-present in business decision making for all organisations today High...