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China charges former AstraZeneca regional head with “unlawful collection of personal information and medical insurance fraud”
a former executive vice president and a former senior employee of...
BMW recalls hundreds of thousands of cars due to a potential fire hazard
BMW said that product inspections and customer complaints revealed...
Trade disruption and economic shocks push up political risk cover by 30% globally, says Howden report
Matthew Strong, Deputy CEO, Howden CAP and Head of Credit and Political Risk, commented: “ With demand for CPRI protection rising, now is the time for the market to step up even further. This will enhance global economic growth by increasing commitments and...
X services face longest outage due to data centre glitch
Elon Musk-led X started facing a glitch on May 22 due to data centre outage and remained down in several parts of the globe including in India on Saturday as well. New Delhi: Social media platform X services have remained down for the longest period ever with users...
Russia to defend its vessels in the Baltic Sea by all legal means
The comments come as Baltic nations grow increasingly concerned about the activity of vessels that haul Russian barrels overseas, a key revenue source for the government in Moscow. They’re worried these ships could cause security breaches, damage power and internet...
Aircraft lessor SMBC proceeds from Russian jet insurance settlements hit $1.4 billion
That brought SMBC’s total recoveries from claims following the sanctions over Moscow’s war in Ukraine to $1.41 billion. It was one of six lessors that ended an Irish lawsuit against their insurers last month following a series of settlements Dublin: Aircraft lessor...
Global loss of tropical and boreal forests surge to a record high in 2024
All of this is occurring after the hottest year on record, with Earth’s warming exceeding 1.5C over pre-industrial levels on an annual basis for the first time. The United Nations has warned that temperatures will continue to rise unless drastic action is taken to...
Japan’s 3 major casualty insurers plan to sell $9.5 billion of cross-held shares
Eliminating cross shareholdings is seen by many as a yardstick for measuring corporate governance reform at Japanese companies. Japan’s industry body for non-life insurers told its members in September to cut their cross-shareholdings in the aftermath of a...
Cyberattack costs Marks & Spencer $403 million in operating profit
The British retailer will try to mitigate the impact with cost savings and insurance payouts, it said Wednesday. Online clothing and home orders, which account for more than £3 million of sales a day and have been suspended for more than three weeks, will be disrupted...
Geneva Association report calls for action to safeguard home insurance amid rising extreme weather risks
“Extreme weather is no longer a future threat – it’s disrupting lives and businesses today. But we’re not powerless. By urgently investing in stronger local building standards, nature-based solutions, and climate-resilient infrastructure, we can protect people and...
EU likely to propose to G7 lowering price cap on Russian oil to $50 per barrel
The G7 price cap was agreed in December 2022, banning trade in Russian crude oil transported by tankers if the price paid was above $60 per barrel and prohibiting shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe,...
High crypto investors seek bodyguards to deter kidnappers
People with crypto wealth face unique physical risks because public blockchain networks like Bitcoin and Ethereum allow tokens to be transferred instantly and anonymously. This means that if an individual is coerced into giving up the access credentials to their...