Weather catastrophes were responsible for 93% of overall losses and...
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Lloyd’s CEO John Neal to join Aon as global Reinsurance CEO and chairman of climate solutions
John Neal Neal, after six years in Lloyd's as a CEO, will play an...
Wildfires rage in Los Angeles, forcing tens of thousands to flee
Numerous buildings were destroyed and nearly 3,000 acres (1,200...
Insurers refuse to pick up tab for billions in Opioid claims
The legal battle revolves around whether insurance claims can be denied if policyholders created a "public nuisance" by improperly marketing addictive painkillers. This is the claim made by communities across the United States seeking restitution from drug...
Russia-Ukraine War: Chernobyl nuclear plant no longer transmitting to IAEA
"I'm deeply concerned about the difficult and stressful situation facing staff at the Chornobyl nuclear power plant and the potential risks this entails for nuclear safety," said International Atomic Energy Agency (IAEA) chief Rafael Grossi Vienna: The Chernobyl...
India, Bangladesh, Nepal finalise MOU for implementation of BBIN Motor Vehicles Agreement
The meeting was held to discuss the passenger and cargo protocols that are essential to operationalise the BBIN MVA for the regulation of passenger, personal and cargo vehicular traffic between Bangladesh, Bhutan, India and Nepal, signed on June 15, 2015 New Delhi:...
GLOBAL MARKETS-Global shares fall, oil rises in volatile trading after Russia oil ban
The rally in oil and other commodities has heightened investor fears about global inflation. Data this week is expected to show the U.S. consumer price index climbed a stratospheric 7.9% on a year-on-year basis in February, up from 7.5% in January Solita Marcelli,...
How sanctions against Russia are battering the global aviation industry
Manufacturers, lessors, insurers and maintenance providers to Russian carriers like Aeroflot, S7 Airlines and AirBridgeCargo are among those outside Russia that are hit directly by sanctions Russian airlines have also been cut off from the insurance and reinsurance...
Biden to order studies on regulating, issuing cryptocurrency
U.S. President Joe Biden U.S. Treasury Secretary Janet Yellen last year warned about an "explosion of risk" from digital markets, including the misuse of cryptocurrencies, but said new financial technologies could also help fight crime and reduce inequality...
U.S. Supreme Court spurns Google bid to avoid shareholder lawsuit
The lawsuit, led by the state of Rhode Island, was filed after the Wall Street Journal published an article in October 2018 that said Google concealed the exposure of private data for nearly 500,000 users of Google+ – a social network owned by Google – because it...
Japan’s top court orders damages for victims of Fukushima nuclear plant in landmark decision
Public broadcaster NHK said the average payout of about 380,000 yen ($3,290) for each plaintiff covered three class-action lawsuits, among more than 30 against the utility, which are the first to be finalized A massive tsunami unleashed by an earthquake of magnitude...
AIA buys BEA’s travel and general insurance services unit Blue Cross
BEA agreed to sell its medical, travel and general insurance services unit Blue Cross (Asia-Pacific) Insurance and all of its 80% interest in healthcare services unit Blue Care JV (BVI) Holdings to AIA to generate value for shareholders. Asia-focused AIA’s largest...
Environmental groups sue TotalEnergies over climate marketing claims
The claim, which has been served on TotalEnergies and was to be filed before the Paris Judicial Court, concerns the company’s “reinvention” marketing campaign. Claimants say the campaign broke European consumer law by suggesting TotalEnergies can reach net-zero carbon...