Lloyd’s CEO, John Neal, said, “Collaboration is the hallmark of the...
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Reinsurers differ on expectations for pricing in Jan 2025 renewals: Fitch survey
``We believe the pricing cycle has most likely passed its peak and...
20TH SIRC: Singapore Dy PM Gan Kim Yong to deliver keynote address
“With the strong line-up of panels and a dynamic meeting agenda...
Haiti to receive a record payout of $40M from parametric catastrophe insurer CCRIF
CCRIF SPC is a segregated portfolio company, owned, operated and registered in the Caribbean. It limits the financial impact of catastrophic hurricanes, earthquakes and excess rainfall events to Caribbean and Central American governments by quickly providing short-term liquidity when a parametric insurance policy is triggered.
It is the world’s first regional fund utilising parametric insurance, giving member governments the unique opportunity to purchase earthquake, hurricane and excess rainfall catastrophe coverage with lowest-possible pricing.
This payout,representing CCRIF’s largest single payout to date. has activated the full coverage limit under the country’s parametric insurance policy for earthquakes for the 2021/22 policy year.
As CCRIF’s insurance policies are parametric, payouts are made within 14 days of an event.
Mosaic Insurance and DXC Technology launch innovative technology platform for Specialty Insurance
Together with DXC’s business-process expertise and technology, Mosaic, a next-generation global specialty insurer, will refine underwriting, simplify transactions, and process claims and assess risks faster.
Mosaic also streamlines end-to-end processing and provides real-time access to data.
Controversial Russian pipeline ready to ship Gas,finds difficult to to obtain insurance and certification
More than 99% of the pipeline has been completed, according to its operator. But before carrying the first gas to Germany, the link needs to obtain insurance and certification, a task made difficult by U.S. sanctions that restrict providing these services to the project.
Mining giants face sexual harassment reckoning as BHP fires 48 workers
While harassment is a problem in workplaces around the world, isolated mines can be especially risky for women. They remain largely male-dominated, with fly-in, fly-out (FIFO) workers living in camp-style accommodation that blurs the line between work and social life. Add excessive alcohol consumption into the mix, and inappropriate behavior often follows.
T-Mobile says hackers accessed data of another 5.3 million subscribers
The data includes address, date of birth and phone numbers of customers, the company said, adding that it had no indication that the accessed data contained financial information such as credit card or other payment data.
The cost of saving global economy: $834 million an hour for 18 months
With central banks sucking up so much of the bond market and forcing down borrowing costs, there’s now more than $16 trillion in debt with a negative yield. And it’s part of the reason why money managers say they’ve got no alternative except to keep buying up stocks.
China allows couples third child amid demographic crisis
The shift to the two-child rule led to a temporary bump in the numbers of births but its effects soon wore off and total births continued to fall because many women continued to decide against starting families. Japan, Germany, and some other wealthy countries face the same challenge of having fewer workers to support aging populations. However, they can draw on investments in factories, technology, and foreign assets, while China is a middle-income country with labor-intensive farming and manufacturing.
Japanese crypto exchange hit by estimated $94 mln hack
London-based blockchain analysis firm Elliptic said digital addresses identified by Liquid as belonging to the thief had totalled over $94 million , including $45 million in tokens connected to the Ethereum blockchain.
The hacker or hackers is converting these tokens to the ether cryptocurrency via so-called decentralised – peer-to-peer – exchanges, Elliptic said, adding that it was aiding Liquid in tracking the stolen funds.
China’s planned anti-sanctions law for Hong Kong unsettles financial sector
Under the planned law, if financial institutions in Hong Kong implement U.S. sanctions, they may be exposed to legal risk in Hong Kong for doing so, financial sector executives and lawyers said.
“Many foreign multinational companies are asking about the impact of the anti-foreign sanctions law, especially international banks and financial institutions,” said Shaun Wu, a Hong Kong-based partner at law firm Paul Hastings.
For bank regulators, tech giants are now too big to fail
This time it’s the tech giants including Google, Amazon and Microsoft that host a growing mass of bank, insurance and market operations on their vast cloud internet platforms that are keeping watchdogs awake at night.