Although COVID-19 is no longer a global health emergency, it...
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UK PM Sunak commits to triple-lock pension policy despite inflation
Last November, with inflation in double-digits, finance minister...
AI with 95% accuracy can steal passwords by ‘listening’ to keystrokes: Study
"The ubiquity of keyboard acoustic emanations makes them not only a...
Tokio Marine to buy US insurer Pure Group for $3.1bn
At a press conference on Thursday, Satoru Komiya, Tokio Marine’s chief executive, said Pure had little overlap with its existing business in the US, where it has already spent more than $15bn including its $7.5bn deal for Texas-based HCC Insurance Holdings in 2015 and the $4.6bn acquisition of Philadelphia Consolidated in 2008.
Cyber-related business interruption now a top concern of risk managers
“The cyber insurance marketplace is expanding and maturing to meet the increasing demands of corporations concerned about the ever-evolving cyber risks,” said Paul Horgan, head of U.S. Commercial Insurance.
Las Vegas massacre survivors, families reach $735 million settlement with MGM
The total settlement amount might rise to $800 million, depending on how many claimants choose to participate, according to the law firm Eglet Adams.
Google faces $3.9B iPhone privacy lawsuit after London court reinstates case
“This case, quite properly if the allegations are proved, seeks to call Google to account for its allegedly wholesale and deliberate misuse of personal data without consent, undertaken with a view to a commercial profit,” Judge Geoffrey Vos said Wednesday in the ruling.
At $20K a year, US health insurance costs undermine job-based health insurance
Many Americans aren’t prepared for the risks that deductibles transfer to patients. Almost 40% of adults can’t pay an unexpected $400 expense without borrowing or selling an asset, according to a Federal Reserve survey from May.
Lloyd’s of London to go electronic to compete with low-cost rivals
Simplifying and automating its processes could cut the cost of doing business at Lloyd’s to 25-30% of premium revenue, compared with a current 40%
Volkswagen faces first mammoth diesel lawsuit on home turf
Around 450,000 people have joined a first-of-its-kind grouped proceeding, introduced by lawmakers after the “dieselgate” emissions cheating scandal broke in 2015
Europe’s money laundering scandals expand with criminal probe of ABN Amro
Increased compliance costs and possible penalties add to the headwinds confronting European banks. Negative interest rates, lackluster economies, and Brexit are already taking a toll on profitability, forcing more lenders forcing the lenders to pass rising costs on to customers.
Parametric catastrophe facility CCRIF pays $12.8 mln to Bahamas for Dorian damages
Since its inception in 2007, CCRIF has made 40 payouts totaling about US$152 million to 13 of its 21 member governments
Vaping now linked to 12 deaths, 805 illnesses in U.S
The increased scrutiny also prompted leading e-cigarette maker Juul Labs to suspend all broadcast, print and digital product advertising in the United States and bring in a longtime Altria Group Inc executive as its CEO