U.S. President Donald Trump On Saturday, Trump had warned that...
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2 pilots killed as Air Canada Express plane hits ground vehicle at New York’s LaGuardia airport, multiple injuries reported
Early reports from emergency responders indicate multiple injuries,...
Musk found liable to Twitter shareholders in fraud lawsuit over $44 billion takeover
The verdict from a jury in San Francisco federal court came in a...
Extreme heat kills half a million people globally each year, says Swiss Re
Jérôme Haegeli, Swiss Re's Group Chief Economist "Extreme heat used to be considered the 'invisible peril' because the impacts are not as obvious as of other natural perils," says Jérôme Haegeli, Swiss Re's Group Chief Economist. "With a clear trend to longer, hotter...
With India push, global commercial aircraft fleet size to double to almost 50,000 planes over the next 20 years
The global in-service fleet will swell by 24,480 units to 49,210 aircraft in 2044, Airbus predicted in its latest global market forecast that includes both its own planes and those of rivals like Boeing Co. Most of the growth will come from single-aisle aircraft like...
Missiles, drones and proliferating conflict zones increasing burden on airline operations and profitability
Airlines are racking up costs and losing market share from canceled flights and expensive re-routings, often at short notice. The aviation industry, which prides itself on its safety performance, is investing more in data and security planning Proliferating conflict...
Insurers have to compensate for Russian seized aircrafts, rules UK Judge
The ruling relates to 147 planes and 16 engines that had insurance claims worth $4.5 billion attached. While it’s a victory for the lessors, the judge clarified what kind of insurance policies covered the losses, meaning not everything would be covered. Insurance...
EU proposes ban on Nord Stream gas pipeline, reduction of oil price cap
EU firms are involved in an array of service provision for Russia that’s legal under the cap at current prices but wouldn’t be at $45. That includes use of the large Greek oil-tanker fleet, as well as insurance and reinsurance that’s provided by different firms across...
Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident frequency longer-term and reshape the underlying claim cost distribution and legal liability for accidents,” Goldman Sachs analysts including Mark Delaney wrote in a June 9 note to clients The rise of...
ChatGPT suffers global outage including in India, OpenAI ‘investigating’
"We are investigating," said the company. About 88 per cent of complaints from India cited the chatbot not responding to queries, 8 per cent reported issues with the mobile app, and 3 per cent faced API-related problems New Delhi: OpenAI’s popular chatbot ChatGPT...
Beazley hires a new parametric insurance head
Stefan Wunderlich,head of Parametric Insurance Beazley has a long-term commitment to the property market, having trebled the size of its property underwriting since 2022. This commitment has seen it build a strong position in the US E&S market, roll out specialist...
Climate change altering laws of mortgage risk: Fitch
Fitch is now in the process of integrating physical climate risks into credit assessments. The move reflects an evolving concern among ratings firms and regulators alike that climate change is hitting the mortgage market — and the bonds that finance it — in ways that...
UK judge warns of risk to justice after lawyers cited fake AI-generated cases in court
High Court justice Victoria Sharp said the misuse of AI has “serious implications for the administration of justice and public confidence in the justice system.” Lawyers have cited fake cases generated by artificial intelligence in court proceedings in England, a...