Lessors are suing dozens of insurers around the world for billions...
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Extreme heat rendering parts of the world too hot to insure
Rising temperatures are disrupting economic activity and daily life...
Possible Chinese malware in US systems a ‘ticking time bomb’: Report
"The Biden administration is working relentlessly to defend the...
Allianz partners with Microsoft to digitally transform the insurance industry
“Together, Microsoft and Allianz are offering a solution that combines Allianz’s deep knowledge of the insurance sector with Microsoft’s trusted Azure cloud platform. By delivering an open-source, cloud-based insurance platform and software application marketplace, we will support innovation and transformation across this sector.”
FBI warns on rise in sophisticated Cyber crimes
Partnerships between victims, local law enforcement, the FBI and its field offices overseas, and law enforcement in other countries is critical to combatting this transnational crime, said Loren Cannon, the FBI’s special agent in charge of the Portland office.
Terrorism results in USD 1 trillion loss to world economy: Narendra Modi at BRICS Summit
“According to some estimates, the economic growth of developing nations has decreased by 1.5 per cent due to terrorism,” he said, adding that the scourge has caused USD 1 trillion loss to the world economy
Ransomware attack hits Mexico’s state oil firm Pemex
An internal email seen by Reuters said Pemex was targeted by “Ryuk,” a strain of ransomware that experts say typically targets companies with annual revenue between $500 million and $1 billion.
Boeing says 737 MAX may start flying in January
“In parallel, we are working towards final validation of the updated training requirements, which must occur before the MAX returns to commercial service, and which we now expect to begin in January,” Boeing said.
Australia braces for another week of Devastating Bushfires
While bushfires have been an important part of Australia’s ecology, some scientists have expressed concern that the season is getting longer. The drought gripping parts of Australia has created hazardous conditions in many regional communities, where some residents have complained that insufficient back-burning has taken place during the winter months, leaving a fuel load of fallen trees and undergrowth.
Lloyd’s to create single governing body, merging Council and Franchise Board
The news follows five months of consultation across the Lloyd’s market, with more than 90% supporting the proposal to merge the board into the council and create a single governing body for the Corporation of Lloyd’s and the Lloyd’s marketplace, said Lloyd’s in a statement.
Tencent buys 10% of Policybazaar, enters India insurance market
The Chinese technology giant bought 10% of Policybazaar, half of Tiger Global Management LLC’s stake in the company, the person said, asking not be identified as the matter was not public. The $150 million deal was signed earlier this week, the person added.
Life insurance sector catching up in terms of innovation
“Improvements in customer and agent interfaces, automated underwriting, data mining and other techniques are starting to create changes in the life insurance industry,” said Terence Martin, a Director, Insurance Research at Conning
Facebook employing user data as a weapon against rivals: Report
Some 7,000 pages of documents reveal how Facebook chief Mark Zuckerberg and his team harnessed users’ personal information to reward partners by giving them preferential data, while depriving rivals of the same sort of information, it reported.