Jérôme Haegeli, Group Chief Economist, Swiss Re Jérôme Haegeli,...
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Be wary of scams as Amazon Prime Day kicks off, experts warn
In updated guidance published last week, the Better Business Bureau...
Google in talks to buy Wiz in $23 billion cyber deal
The acquisition of Wiz could help Google catch up to Microsoft...
Death rates soar in Southeast Asia as virus wave spreads
A variety of factors have contributed to the recent surge in the region, including people growing weary of the pandemic and letting precautions slip low vaccination rates, and the emergence of the delta variant of the virus, which was first detected in India, said Abhishek Rimal, the Asia-Pacific emergency health coordinator for the Red Cross, who is based in Malaysia.
Shell to appeal landmark climate case in the Netherlands
The ruling came after Milieudefensie, the Dutch arm of Friends of the Earth, sued the company for violating human rights. The court agreed, saying Shell must reduce its total emissions by 45% by 2030 from 2019 levels. That compares with Shell’s own target of reducing the intensity of its greenhouse gas emissions by 20% from 2016 levels.
Saudi Aramco facing USD 50M cyber extortion over leaked data
A page accessed by the AP on the darknet – a part of the internet hosted within an encrypted network and accessible only through specialized anonymity-providing tools – claimed the extortionist held 1 terabyte worth of Aramco data. A terabyte is 1,000 gigabytes.
The page offered Aramco a chance to have the data deleted for USD 50 million in cryptocurrency, while another timer counted down from USD 5 million, likely in an effort to pressure the company. It remains unclear who is behind the ransom plot.
U.S. judge narrows focus of antitrust suit over $30 bln Aon-Willis merger
The DOJ had alleged that combining the two large insurance brokers would harm competition in reinsurance broking, retirement and pension planning and private retiree multicarrier healthcare exchanges. But the divestitures mean those no longer will be issues in the trial, according to the order
US life expectancy in 2020 drops by 1.5 years due to Covid-19 pandemic
“It’s staggering and depressing,” said Noreen Goldman, a professor of demography and public affairs at Princeton University. “The U.S. lags behind virtually all high-income countries in life expectancy, and now it’s lagging further behind.”
China’s ‘iPhone city’ relocates 100,000 people after record rain, flood
The city of Zhengzhou in the central province of Henan saw 457.5 millimeters (18 inches) of rain fall in the 24 hours through 5 p.m. on Tuesday, the highest since records began for the city of more than 10 million people, the official Xinhua news agency reported. That included a record 201.9 millimeters in a single hour, from 4 p.m. to 5 p.m. The city’s airport said on its Weibo page it has temporarily suspended inbound flights.
IMF to keep 2021 global growth forecast at 6%-Georgieva
Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics, said that recovery will be held back unless the pace of COVID-19 vaccination picks up, adding that a goal of ending the pandemic by the end of 2022 will not be reached at the current pace.
Natural disaster H1 insured losses hit a 10-year high of $42 billion
Floods in Europe since last week have likely caused $2-3 billion in reinsurance losses, analysts say. read more
Natural disasters were responsible for around 3,000 deaths globally in the first half, with 800 fatalities from the heatwave which hit parts of Western Canada and the U.S. Pacific Northwest in late June.
As cyberattacks rise, Cyber insurers are overhauling their strategies
Cyber policies are relative newcomers to the centuries-old insurance industry. The sector has exploded in the past decade — with premiums more than doubling since 2015 and totaling $3.15 billion last year, according to the National Association of Insurance Commissioners.
Some firms are charging more for less coverage. Clients in US paid 35% more for cyber coverage in the first quarter than they did in the same period last year, according to broker Marsh McLennan. Demand for standalone policies surged 24% last year.
Wrestling with higher costs and more risk, insurers are tightening standards, boosting prices and slashing how much they’re willing to pay for a breach.
Judge: $150M initially for victims in Florida condo collapse
That sum includes about USD 50 million in insurance on the Champlain Towers South building and at least USD 100 million in proceeds from the sale of the Surfside property where the structure once stood, Miami-Dade Circuit Judge Michael Hanzman said at a hearing on Wednesday.
”The court’s concern has always been the victims here,” the judge said, adding that the group includes visitors and renters, not just condo owners. ”Their rights will be protected.”