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US home insurance ‘Bubble’ closer to popping as climate risks mount: Report
At the core of the problem is an increase in the severity of...
Fed leaves rates unchanged at 5.25-5.50%, sees tighter policy through 2024
"Inflation remains elevated," the rate-setting Federal Open Market...
China’s Coronavirus deaths, infections rise; supply chains, production,travel disrupted
In China, cities have been shut off, flights canceled and factories closed, shutting supply lines crucial to the world economy. Companies including Hyundai Motor, Tesla , Ford, PSA Peugeot Citroen, Nissan , Airbus, Adidas and Foxconn are taking hits.
AXA XL creates role of Global Chief Underwriting Officer, Cyber
“The cyber insurance market is growing exponentially. Recent reports predict the Global Cyber Insurance Market to reach $21.4 billion in the next five years,”
Britain’s insurance sector urged to compete by selectively diverging from EU Rules
The financial services sector is Britain’s biggest tax contributor, generating 75.5 billion pounds ($98 billion) annually in tax.
China virus toll nears 500,to affect Chinese insurers’ earnings
While the claim expenses associated with the outbreak remain uncertain, medical costs for future treatments may burden insurers. As of 3 February 2020, the Ministry of Finance and local governments have planned to allocate total funding of CNY47bn ($6.7bn) to assume responsibility of medical-related costs.
US working closely with China to combat coronavirus outbreak: Trump
Worldwide, the virus, so far, has spread to Thailand, Singapore, Japan, South Korea, Australia, Malaysia, Taiwan, Vietnam, Macau, India, Philippines, Nepal, Sri Lanka, Cambodia, United States, Canada, Germany, France, Britain, Italy, Russia, Finland, Spain, UAE and Sweden.
Nations stepping up scrutiny of vessels, trains, shipping from China
Vessels and trains coming from China are in focus as nations take steps to halt the spread of a deadly coronavirus that originated in the world’s second-biggest economy
Aon acquires Canadian cyber security firm Cytelligence Inc
Global cyber insurance premiums are expected to grow from $4 billion in 2018 to $20 billion by 2025. According to Aon’s 2019 Global Risk Management Survey, cyber-attacks were identified as a top ten risk facing organizations and is predicted to be one of the top three risks for organizations in 2022.
Twitter says state-backed actors may have accessed users’ phone numbers
Tech publication TechCrunch reported https://techcrunch.com/2019/12/24/twitter-android-bug-phone-numbers on Dec. 24 that a security researcher, Ibrahim Balic, had managed to match 17 million phone numbers to specific Twitter user accounts by exploiting a flaw in the contacts feature of its Android app. TechCrunch said it was able to identify a senior Israeli politician by matching a phone number through the tool.
Coronavirus: For China virus insurance, check the small print
The reinsurance market at Lloyd’s of London has not seen any untoward activity from traditional insurers looking to hedge their exposure to risks arising from this outbreak, two sources in the underwriting trade said.
Visa planning biggest changes to US swipe fees in a decade: Report
Higher rates are looming for transactions on e-commerce sites, while retailers in certain services categories such as real estate and education will see fees decline, the report added.