One in three firms view cybersecurity roles as crucial to their...
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COP29: Baku meet adopts establishment of global carbon market under Paris Agreement’s Article 6
The Article 6.4 mechanism is seen as an important tool in bridging...
Multiple climate disasters trigger first ever Red Cross disaster insurance pay-out
The IFRC policy with insurance broker Aon is the first of its kind...
Insurer AIA Group sells Australian savings and investments business
AIA did not disclose a deal value for the sale, but said the business holds about A$8 billion ($5.77 billion) in funds under administration. The Australian savings and investment business, which offers superannuation and retirement products, was acquired by AIA...
Ukraine closes airspace to civilian flights amid “high risk” to safety
The aviation industry has taken heightened notice of the risks conflicts pose to civil aviation since Malaysia Airlines flight MH17 was shot down over eastern Ukraine in 2014 Kiev: Ukraine closed its airspace to civilian flights on Thursday, citing a high risk to...
Wildfires projected to rise 50% in this century due to climate crisis and changes in land use: UN Report
“Wildfires are made worse by climate change through increased drought, high air temperatures, low relative humidity, lightning, and strong winds resulting in hotter, drier, and longer fire seasons,” UNEP said UN: Wildfires are projected to rise by 50 per cent by the...
Hannover Re transfers record volume of catastrophe bonds to the capital market
Hannover Re anticipates a record volume somewhat in excess of USD 100 billion for the ILS market in 2022. This comes after a volume of around USD 95 billion in 2021, a figure that does not include securitisations in the area of mortgage financing Hannover: Hannover Re...
Volkswagen’s cargo ship fire losses to be at least $155 million: Russel Group
Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portugal’s Azores Islands,Russell Group said Monday it estimates there are $401 million worth of cars. The consultant estimates auto companies other than...
EU draft law would require firms to check suppliers for human rights, environmental ethics
EU firms will have to make sure that their suppliers are not using forced labour, child labour, of inadequate workplace health and safety, exploitation of workers, or environmental offences like greenhouse gas emissions, pollution, or biodiversity loss and ecosystem...
AIA Launches “AIA One Billion” to engage a billion people to live healthier, longer, better lives by 2030
The pandemic has increased people's awareness of the importance of health and wellness. Yet populations in Asia are seeing an increase in lifestyle-related diseases, accounting for more than 70 per cent of all deaths SINGAPORE: AIA Group Limited (AIA) today...
China asks banks, firms to report exposure to Jack Ma’s Ant Group -Bloomberg News
Ant has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion was derailed by regulators in late 2020. Chinese authorities have told state-owned firms and banks to start a fresh round of checks on their financial exposure...
Beazley expands miscellaneous medical liability offering to Asia Pacific
The product includes cover for medical malpractice (claims made), professional indemnity (claims made), public liability (claims made and occurrence) and product liability (claims made) Simgapore: Specialist insurer Beazley has enhanced its healthcare offering in Asia...
Fires on vessels still one of the biggest safety issues for shipping industry: Allianz
There was a record 40 cargo-related fire incidents alone in 2019 or one every 10 days. Across all vessel types, the number of fires/explosions resulting in total losses hit a four-year high of 10 at the end of 2020– accounting for around one in five total losses...