Mike Pritchard, the director of climate simulation research for...
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Liberty appoints Edrick Tang as senior underwriter, Fine art and specie, Asia Pacific
Fine art and specie is a key area of growth for Liberty,...
Adam Sullivan appointed CEO of Asia for Gallagher Specialty
Adam Sullivan,CEO,Specialty,Asia SINGAPORE: Gallagher today...
‘All Crew Muslim’: ships look to dodge Red Sea attacks with messages
Maritime security sources said even though shipping companies must step up due diligence on any tangential link to Israel before sailing through the Red Sea, the risk of attack was still high. Commercial ships still sailing through the Red Sea are broadcasting...
Miller launches Korean marine team with four senior hires
David Kim, Head of Korea at Miller, added,``We expect to expand into other lines as we capitalise on the potential for close collaboration with our strong foundations in the London marine market.” London: Miller, an independent specialist (re)insurance broker,...
US hurricane losses could surge by 50% under 2°C global warming, MS Amlin study warns
The findings come as the industry grapples with an intensifying mismatch between risk exposure and pricing adequacy — a gap that MS Amlin cautions could leave communities underprepared for the financial fallout of future storms. MS Amlin CEO, Andrew Carrier’s...
Amid Air India probe, US FAA, Boeing notify fuel switch locks are safe, document, sources say
The FAA's Continued Airworthiness Notification on July 11 came after a preliminary report on Friday into last month's Boeing 787-8 crash, which killed 260 people, raised questions over engine fuel cutoff switches. WASHINGTON/NEW DELHI/MONTREAL: The U.S. Federal...
10 hydropower projects damaged in Nepal floods, no significant effect on power export
In a statement, Independent Power Producers Association Nepal (IPPAN) said that seven hydropower projects currently generating 251 MW hydropower have been completely shut down due to the floods. Kathmandu: At least 10 hydropower projects have been damaged by floods in...
European Commission to propose floating Russian oil price cap
The Commission proposed lowering the Group of Seven (G7) nations’ price cap from $60 a barrel to $45 barrel in June in its 18th package of sanctions against Russia for its invasion of Ukraine. The G7 price cap, aimed at curbing Russia’s ability to finance the war in...
Insurance cost surge for commercial ships sailing past Yemen’s Houthi militants
Shipowners now have to pay about 1% of a ship’s value if they want to pass through the Red Sea, said Marcus Baker, global head of marine cargo and logistics at Marsh McLennan, the world’s largest insurance broker. That’s up from 0.2% to 0.3% in recent months, a period...
Extreme Weather: Euro Zone could lose 5% of GDP, says ECB
“Climate-related risks are an immediate concern for financial stability and economic growth,” Stracca and Bundesbank board member Sabine Mauderer said in a blog published by the ECB Extreme weather events such as heatwaves, flooding and wildfires could wipe as much...
AM Best maintains stable outlook on global cyber insurance segment
The AI-driven proliferation of cyber-attacks also can increase the scale and complexity of attacks. Additionally, the ongoing challenge of ransomware, business email compromise and funds transfer fraud continues to escalate Rating agency AM Best said it is maintaining...
China’s blistering heat leaves workers exposed as gig economy booms
Almost half of China’s platform workers don’t have any social insurance coverage, and fewer than a third of the total working population have insurance for work-related injuries, research shows. On a scorching morning in Beijing, Hao and a dozen other food delivery...