Growing use of AI-enabled tools also meant that the...
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Heathrow airport reopens after blackout shutdown
The financial fallout from the day-long disruption may reach reach...
AI turbocharging organized crime, EU Police agency warns
“Cybercrime is evolving into a digital arms race targeting...
Generali CEO Donnet survives but faces rebel pressure
Philippe Donnet, CEO,Generali, “The unambiguous choice of a majority of shareholders is proof of the confidence they have in our management team and strategic plan,” said Donnet, who enjoyed the backing of leading investor Mediobanca and Generali’s institutional...
Allianz toughens oil & gas policy to help meet climate goal
With pressure mounting to accelerate corporate efforts to reduce emissions, Allianz announced that beginning in 2023, it would cease issuing new property and casualty insurance to fund new oil and gas projects and would cease renewing existing contracts in July 2023...
WHO calls for end to ‘insidious’ online marketing of baby formula
The study found companies are paying social media platforms and influencers to gain direct access to pregnant women and mothers at some of the most vulnerable moments in their lives, through personalized content that is often not recognizable as advertising. The $55...
Climate change: 4% of global GDP could be lost by 2050, Indian subcontinent to be badly hit
Bangladesh, India, Pakistan and Sri Lanka's exposure to wildfires, floods, major storms and also water shortages mean South Asia has 10%-18% of GDP at risk, roughly treble that of North America and 10 times more than the least-affected region, Europe Climate change...
Record global InsurTech funding of $15.8 billion in 2021:Report
By the end of 2021, an enormous $41.65 billion had been invested globally into InsurTechs across 2,249 deals in 63 countries. It included 99 mega-round deals, which accounted for $21.88 billion of the total. Therefore, more than half of all the investment (52%)...
EU counters lawsuits used by rich and powerful to silence critics
A proposed law on so-called Strategic Lawsuits Against Public Participation, or SLAPPs, targets “groundless or exaggerated” lawsuits intended to “censor, intimidate and silence” journalists and others, the European Commission announced on Wednesday Wealthy individuals...
Exxon declares force majeure on Russian Sakhalin-1 operations
The Sakhalin-1 project produces Sokol crude oil off the coast of Sakhalin Island in the Russian Far East, exporting about 273,000 barrels per day, mainly to South Korea, and to other destinations including Japan, Australia, Thailand and the United States Exxon said on...
Ransomware a growing cyber risk for US corporates, financials & Govt: Fitch
In 2021, there were 421.5 mil. attempted ransomware attacks in the U.S. and 623.3 mil. globally, up 98% and 105% YoY, respectively, according to a March 2022 report from the Senate Committee on Homeland Security and Governmental Affairs. Ransom payments are also...
Price increases continue to moderate in Asian markets
Globally, cyber insurance pricing continues to show significant rate increases — 110% in the US and 102% in the UK for the quarter London: Insurance pricing in the first quarter of 2022 in Asia increased 3%, down from 4% in the prior quarter, as price increases...
Britain proposes post-Brexit changes to insurer capital rules
Britain inherited the so-called Solvency II rules from the European Union, and reforming them is seen by industry and government as a key reform after Brexit to keep the financial sector globally competitive London: Britain launched on Thursday a public consultation...