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AI backlash spreads across Europe with data center protests
The global data center buildout has accelerated as technology...
Hormuz LNG traffic hits highest in October since Iran war began
October exports were the highest since February when the war...
PHP vulnerabilities raises concerns of systemic event for cyber insurers
A significant gap between economic and insured losses is expected in this event, highlighting the importance of cyber insurance. In addition, insured losses may extend beyond cyber into directors and officers insurance as regulatory and governmental bodies in the...
Oil spill in Gulf:UAE shuts more beaches
Conflict in the region is also increasing the risk of oil spills and maritime pollution. Dubai: An oil spill from a damaged tanker off the coast of the United Arab Emirates has widened, satellite images showed, triggering more beach closures and raising environmental...
Borr Drilling rig sinks off Gabon, one person dead and four missing
“Preliminary information indicates that the rig experienced a punch-through event during preload activities, resulting in loss of stability and the subsequent sinking of the rig,” the offshore drilling contractor said. Borr Drilling’s Prospector 5 rig sank late on...
Japanese companies compensate users as cyberattacks buffet economy
Japanese Prime Minister Sanae Takaichi said the government planned to compile an emergency package of measures against cyberattacks by next week. Japanese companies are moving to pay compensation to users following waves of cyberattacks that have disrupted internet...
Transit systems move towards fully automated trains
The Washington and LA projects, which would take years to implement and still face financial and technical hurdles, come amid an already fierce debate over the safety risks and benefits of automated trains and whether the substantial upfront expense is worth the...
Data centers face downgrade risk amid local pushback, S&P says
Delays due to grid capacity constraints, environmental sustainability concerns and zoning shifts “could increase downward pressure on the creditworthiness of data center projects,” analysts including Chris Mooney wrote in a Oct. 23 report. Data centers face potential...
Ship attacks in Strait of Hormuz hit record high in October
Raydan, who maintains the institute's interactive shipping incident map, has recorded 28 confirmed and reported attacks in the Strait of Hormuz and surrounding waterways in October and 113 since the US-Israeli war with Iran began on February 28. OSLO: October has...
Global insured Nat CAT losses fall to lowest 9-month level since 2019: Gallagher Re Report
Q3 also marked the sixth consecutive quarter without an individual natural catastrophe generating more than USD10 billion in insured losses. This comparatively favorable loss experience has supported strong industry earnings, robust capital positions and substantial...
Europe’s Summer Toll: 50,000 deaths and a €17 billion GDP hit
“We often see elderly patients become confused or have strokes or have cardiac-type events where heat may have made a significant contributing factor to the death,” said Andrew Hartle, an intensive-care consultant at Imperial College Healthcare NHS Trust, in a press...
Led by property, India, Middle East, and Africa see rates decrease in Q3, says Marsh
Insurance rates in the third quarter decreased 14% in the IMEA region, the highest across all regions. No major losses were reported across major insurance lines. Singapore: Rates continued to vary significantly by market, with the steepest reductions in India and...