The bill aims to establish a comprehensive cross-agency mechanism...
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Scientists wary of bird flu pandemic ‘unfolding in slow motion’
“It almost seems like a pandemic unfolding in slow motion,” said...
Insurers achieve positive mid-year renewal outcomes, Global reinsurance capital reaches a new record of $695 billion by Q1 2024, says Aon
Aon Securities estimates that overall ILS capital increased to an...
World needs $8.1 trillion of investment of by 2050 to combat climate, biodiversity and land degradation crises:UN
Inger Andersen, Executive Director of the UN Environment Programme (UNEP), said biodiversity loss is already costing the global economy 10 percent of its output each year.
Although investing in nature supports the health of all beings, improves the quality of life, and creates jobs, it accounts for just 2.5 per cent of projected economic stimulus spending in the wake of the pandemic. Therefore, private capital will have to be increased to close the investment gap.
After Colonial attack, energy companies rush to secure cyber insurance
Insurers are preparing to increase cyber insurance premiums by 25% to 40% across many industries because of the number of claims, insurance companies and brokers have said. But energy companies should expect rate increases at the higher end of the spectrum as the Colonial attack exposed their vulnerabilities and exposed insurers to losses.
Lloyd’s to partner London Market Insurance Companies and DXC Technology to transform its digital processing
London: Lloyd’s, London Market Insurance Companies and DXC Technology partner to transform the technology and digital processing that powers the world’s largest insurance marketplace. Lloyd’s, DXC Technology, the Boards of the Lloyd’s...
Amid dispute, Suez Canal blames ship’s grounding on speed, rudder
The Suez Canal Authority (SCA) sought compensation of $916 million for the blockage in court but later reduced its request to $550 million, including a $200 million deposit to secure the ship’s release.
It says the owner has offered $150 million in compensation. Shoei Kisen has not commented on the negotiation.
Chubb makes leadership changes in Asia Pacific
Edward Ler, currently Country President for Chubb’s general insurance business in Korea, has been appointed to the position of Head of Southeast Asia. Ler will be responsible for the general management and business results in the six countries of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. He replaces Glen Browne, who was recently appointed as Division President – Consumer Lines, Asia Pacific
ExxonMobil, Chevron investors vote for more action on climate change
The dual decisions at the two biggest US oil giants’ annual meetings are clear evidence that addressing climate change has moved from being an environmentalist cause to one championed by mainstream investors.
Australian court says mine approvals must consider climate harm
“We understand it is the first time a court of law, anywhere in the world, has ordered a government to specifically protect young people from the catastrophic harms of climate change,” she said.
Digitalisation needed for smooth international air travel restart: IATA
“Without an automated solution for COVID-19 checks, we can see the potential for significant airport disruptions on the horizon. Already, average passenger processing and waiting times have doubled from what they were pre-crisis during peak time — reaching an unacceptable three hours,” said Willie Walsh, IATA’s Director General. “And that is with many airports deploying pre-crisis level staffing for a small fraction of pre-crisis volumes. Nobody will tolerate waiting hours at check-in or for border formalities,” he said.
Tokyo Olympics Games cancellation can trigger $3 billion in estimated losses:Report
Analysts at Jefferies estimate that the Tokyo Olympics in total is insured for approximately $2 billion, with an additional $600 million for hospitality.
Shea to succeed Charman as executive chairman & CEO of Sompo International
Shea will inherit the leadership of a segment that represents more than 30% of Sompo Holdings Group’s projected adjusted profit, employs approximately 6,600 people in over 29 countries and regions and more than $12 billion in gross premiums.