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Delta CEO says airline is facing $500 million in costs from global tech outage
Speaking on CNBC, Bastian said Wednesday that the monetary amount...
CrowdStrike sued by shareholders over global outage
In a proposed class action filed on Tuesday night in the Austin,...
Willis Towers Watson selects Carl Hess as President and Future CEO
“Following a thorough, multi-year succession planning process, including input from a third-party consultant to assess the experience and attributes of potential internal and external candidates, the Board is confident Carl is the right person to guide the company forward,” said Victor Ganzi, Chairman.
Guy Carpenter appoints new president in Asia Pacific
Haiti: flash floods and mudslides latest threats in earthquake-hit country
The natural disaster is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC).
While the insured losses from this event are estimated at $250 million, the KCC Caribbean Earthquake Reference Model shows that insurable losses are around $1.7 billion (which indicates an insurance protection gap of approximately $1.45 billion), said the firm
In addition to the dead and wounded, initial reports indicate more than 700 collapsed buildings, including hospitals and schools, more than 13,000 homes destroyed, and significant damage to roads.
World Bank launches new Cybersecurity Multi-Donor Trust Fund
“There is widespread agreement in the international community that significantly more cybersecurity capacity building is needed to help low- and middle-income countries become more resilient against attacks and take full advantage of the development opportunities of the digital economy,” said Felix Kroll of the Cyber Foreign Policy and Cyber Security Coordination Staff of the German Federal Foreign Office.
New Zealand to enter lockdown after single coronavirus case found
The move into the strictest lockdown underscored the vastly different approach New Zealand has taken to the virus than most other nations, which are attempting to suppress its spread rather than eliminate it entirely.
New Zealand has reported just 26 virus deaths since the pandemic began.
US, European countries train Africa to tackle piracy in African waters
But there have already been 50 kidnappings logged this year and the U.S. navy is helping with training and European navies are assisting in patrols, a mark of their concern for a region that is a key global supplier of crude oil.
Shell will pay $111 million to end Nigerian oil-spill case
The Anglo-Dutch energy giant will pay the Ejama-Ebubu people 45.7 billion naira ($111 million) in compensation to end a legal case that began in 1991, the community’s lawyer, Lucius Nwosu, said by phone.
The origin of the Ejama-Ebubu community’s grievance against Shell dates back to a rupture in one of the company’s oil pipelines in 1970. Shell said it maintains that the environmental damage was caused by “third parties” during a civil war that was raging at the time.
Why snow, hail and wildfire are expensive for insurance industry
Martin Bertogg, head of catastrophic perils at Swiss Re, said that the industry had been challenged by what is known as “secondary perils.” That is, while the insurance industry has historically done a good job of modeling relatively rare but potentially devastating events such as earthquakes and hurricanes, it’s battling to keep up with risks posed by snow storms, hail, tornadoes and wildfires. Those used to cause relatively minor damage but are increasingly morphing into something more costly. And that is a problem for companies, since many Americans have coverage for such events.
U.S. opens formal safety probe into some 765,000 Tesla vehicles
The National Highway Traffic Safety Administration (NHTSA) said that since January 2018, it had identified 11 crashes in which Tesla models “have encountered first responder scenes and subsequently struck one or more vehicles involved with those scenes.”In a statement, the NHTSA reminded drivers “no commercially available motor vehicles today are capable of driving themselves … Certain advanced driving assistance features can promote safety by helping drivers avoid crashes and mitigate the severity of crashes that occur, but as with all technologies and equipment on motor vehicles, drivers must use them correctly and responsibly.”
New York’s pension fund to review oil holdings, axes more coal investments
The move by the New York state pension fund comes days after the United Nation’s Intergovernmental Panel on Climate Change reported global warming was nearly out of control, and calling its findings “a death knell for coal and fossil fuels.”
Major investors, including BlackRock have re-evaluated holdings in fossil fuel producers and prodded energy executives to reduce emissions and prepare for a lower carbon world. After completing its shale review, the New York fund plans to turn next to oil and gas pipeline and processing investments, it said.