"Safe passage through the Strait of Hormuz cannot be guaranteed...
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Reopening of Strait of Hormuz to lower tail risk, but supply normalisation to be costly: S&P
S&P said South Asia is especially exposed to second-order risks...
MS Amlin joins Natural Disaster Fund as capacity provider
The NDF is a blended risk transfer vehicle designed to mitigate...
A 7.8 magnitude quake in the Philippines kills at least 19, fells buildings and sets off a tsunami
It was the strongest quake to strike the Philippines this year, and was was centered at sea off Mindanao, the second most populous island in the Philippines. According to Bacolcol, the quake occurred at a depth of 33 kilometers (20 miles), about 32 kilometers (20...
US strikes Iranian sites after Iran launches drones, in latest Gulf flare-up
Iran’s Revolutionary Guards said they had attacked U.S. bases in Kuwait and Bahrain in retaliation for U.S. strikes and fired at four tankers trying to cross the strait without its permission. DUBAI/WASHINGTON: U.S. forces struck Iranian coastal radar sites on...
Anthropic calls for pause of global AI development
The company has faced pushback from others in the industry - and officials in the White House - who say its focus on worst-case scenarios overstates the risks and amounts to a strategy for slowing rivals under the cover of safety concerns. Artificial intelligence...
New Lloyd’s consortium brings together capacity up to $345 million per risk globally as WTPV market surges
Jonathan Powell, Managing Director, Guy Carpenter said,“Clients are facing urgent and complex capacity needs following the Middle East conflict. Guy Carpenter was pleased to place the TFP PVT Consortium to provide structured, dependable capacity at scale. This...
Insurers underestimating earthquake losses due to “sonic boom” blind spot:MS Amlin
Researchers at the Lloyd’s insurer found so called “supershear” earthquakes accounted for 66% of insured losses from earthquakes since 2016 – equivalent to $13.2 billion - yet are absent from seismic hazard models, building design codes and insurance catastrophe...
Aon appoints José María Navas as chief claims officer for EMEA
In this role, Navas leads the firm’s claims organization across EMEA, overseeing strategy, advocacy and claims preparation capabilities to support clients in navigating an increasingly complex claims environment. DUBLIN: Aon plc today announced the appointment of José...
Munich Re appoints new Cyber Heads for Asia-Pacific and Africa markets
“While mature markets benefit from broader claims experience and greater transparency, limited loss data in less mature markets should not be mistaken for lower malicious or non-malicious exposure.These markets require even stronger underwriting discipline and careful...
Global insurance market expected to continue shifting eastward over next decade: Allianz
Overall, the global insurance market is expected to grow at an annual rate of +5.3% over the next ten years, slightly above economic output. Munich:The global insurance market is expected to continue shifting eastward over the next decade, with India and China gaining...
Global natural disaster protection gap surpasses $420 billion:Swiss Re
The cost of natural catastrophes such as hurricanes and wildfires has continued to rise in recent years, as a combination of climate change, urbanization and inflation mean disasters are getting more costly when they hit. In North America, the gap between insured and...
Hostilities flare in Iran war, oil jumps with talks at a stalemate
The latest flare-up, which lifted oil prices by more than 1% in early trade on Wednesday, comes more than three months after the initial U.S. and Israeli strikes on Iran, with the conflict mired in a stalemate under a shaky ceasefire and the Strait of Hormuz largely...