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Multibillion-euro court battle over stranded Russian jets begins in Dublin
Lessors are suing dozens of insurers around the world over losses...
Major world economies seek to halt new private sector coal financing
If approved, the draft proposal by the Organisation for Economic...
Insurer CNA hit by ‘Sophisticated’ cyber attack
Upon learning of the incident on March 21, the insurer said it immediately engaged forensic experts to investigate and determine the full scope of this incident. That investigation is ongoing.
Aviva sells Polish business to Allianz for $2.9 billion
Allianz, which first entered the Polish market in 1997, ranks as Europe’s biggest insurer and while it has no plans to grow its life insurance operations, it sees the deal as a springboard to further expand across lucrative central and eastern European markets, sources told Reuters.
Aviva’s boss Amanda Blanc has been selling assets at pace to focus on the life and general insurer’s core businesses of Britain, Canada and Ireland. Aviva also has joint ventures in China and India.
Australians assess flood damage, accelerate clean-up
The Insurance Council of Australia, the main industry body, said more than 25,600 insurance claims worth about A$385 million($293.1 million) had been lodged by Friday and it expects more to be filed.
Software vendors would have to disclose breaches to U.S. govt users under new draft order: Report
The proposed order would adopt measures long sought by security experts, including requiring multi-factor authentication and encryption of data inside federal agencies.
The order would impose additional rules on programs deemed critical, such as requiring a “software bill of materials” that spells out what is inside. An increasing amount of software activates other programs, expanding the risk of hidden vulnerabilities.
Canada votes to collect data to document ‘environmental racism’
“For too long, people just didn’t realize that some people were being exposed to more toxins than others simply because of the color of their skin,” said Lenore Zann, a Liberal Party parliamentarian from Nova Scotia and the Canadian bill’s sponsor. “It’s time that we address that and change our behavior as a society,” she said
Stranded Suez ship’s owner, insurers face millions in claims
The ship’s owner, Japanese firm Shoei Kisen KK, and its insurers could face claims from the SCA for loss of revenue and from other ships whose passage has been disrupted, insurers and brokers said.
Container ships of this size are likely insured for hull and machinery damage of $100-140 million, insurance sources say. The ship was insured in the Japanese market, two of the sources said.
EU must clarify relationship between cyber security rules to give insurers legal certainty across Europe
Beyond their own cyber security, insurers, as providers of cyber insurance products, have a key role to play in increasing the cyber resilience of the EU.
AXA XL names Jennifer Schipf as global chief underwriting officer, Fine Art & Specie
In this new global role, she will be leading the company’s regional FAS teams to further strengthen underwriting capabilities across established and emerging markets.
Climate change set to drive more deadly heat in South Asia
If warming hits 2C, the number of South Asians exposed to unsafe temperatures could rise two-fold, and nearly three times as many people could face lethal heat, the study said. In a region home to a quarter of the world’s population that could have a big impact on the ability of workers to produce crops in breadbasket regions such as West Bengal and Uttar Pradesh in India and Punjab and Sindh in Pakistan, study authors said.
AstraZeneca vaccine’s global rollout faces more complications
That could delay supplies to dozens of lower-income countries also relying on SII production under the COVAX vaccine-sharing scheme backed by the World Health Organization.