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West Asia Crisis: Higher underwriting uncertainty in global terrorism and political violence insurance markets
For insurers and reinsurers, the key issue is not only the...
Lloyd’s to continue providing cover for vessels traveling through Strait of Hormuz
Shippers seeking insurance for tankers going through the strait “is...
UK’s financial regulator to relax rules for pushing insurance to large companies
The changes aim to better differentiate big corporates from smaller businesses that take out insurance, the Financial Conduct Authority said in an emailed statement on Wednesday. The move would “ease the burden on firms insuring larger businesses that can manage risks...
Wildfires and floods cause billion-dollar economic loss in Asia Pacific in the first quarter of 2025: Aon Report
George Attard, CEO for Reinsurance Solutions for APAC , Aon In the APAC region, the protection gap was much higher with 95 percent of the losses not covered. Increases in population density in coastal areas, wealth and overall exposure to natural hazards in high-risk...
Global banking regulators agree to prioritise climate risk work
The oversight body of the world’s forum for banking regulators met on Monday to take stock of the committee’s work on climate-related financial risks and agreed to prioritize efforts to understand financial risk implications of extreme weather events, the Bank for...
German reinsurers post profit falls after $1.9 billion Los Angeles fire claims
“The devastating wildfires in California are another example of how climate change is exacerbating the risks of extreme weather events,” said Hannover Re Chief Executive Clemens Jungsthoefel Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp...
Google facing at least €12 Billion in civil claims across Europe
The civil suits are linked to a 2017 decision by the European Commission to fine Google €2.4 billion for illegally leveraging its search dominance to give its own shopping service an edge Alphabet Inc.’s Google is facing at least €12 billion ($13.3 billion) in damage...
UnitedHealth CEO steps down; suspends 2025 outlook on higher medical costs
Andrew Witty, CEO ,UnitedHealth UnitedHealthcare is the US' largest provider of Medicare Advantage plans, with more than 8 million customers. Those are privately run versions of the federal government coverage programme mostly for people ages 65 and older....
EU changes to sustainability law risk company lawsuits, legal scholars say
The EU’s plan to simplify the Corporate Sustainability Due Diligence Directive (CSDDD), which was proposed as part of an omnibus bill put forward by the European Commission in February, “is really risky,” said Thom Wetzer, founding director of the Oxford Sustainable...
Google to pay Texas $1.4 billion in data privacy settlement
The agreement settles several claims Texas made against the search giant in 2022 related to geolocation, incognito searches and biometric data. The state argued Google was "unlawfully tracking and collecting users' private data." Google will pay $1.4 billion to Texas...
Seafarers stranded off Yemen port eye exit after US-Houthi ceasefire deal
Still, threat levels for shipping remained high given the Houthis' confirmation that Israeli-related assets remained open to attack and the attendant risks to broader shipping, maritime officials said. Ships with no connection to Israel had been targeted in the past...
Trade War: Container liners sever US-China shipping routes across the Pacific
As a result, fees are plunging. The cost of shipping a 40-foot box from Shanghai to Los Angeles — port nodes on either side of the Pacific — hit the lowest since 2023 in late March, according to the data from Drewry Shipping Consultants, a maritime advisory firm. A...