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US insurers invested in fossil fuels as climate risks to underwriting mount -report
A data sample comprising 77% of U.S. insurers showed they held...
Meta Platforms seeks to stop privacy breach fine in Norway -court filing
The regulator has said Meta cannot harvest user data in Norway,...
U.S.-China trade war leading to recession
The year-long trade dispute has revolved around issues such as tariffs, subsidies, technology, intellectual property and cyber security, among others
Hurricane activity could pick up as El Nino fades, say forecasters
The National Oceanic and Atmospheric Administration’s Climate Prediction Center said Thursday the Atlantic season looks more active than normal as peak hurricane season begins. Forecasters now expect 10 to 17 named storms, with five to nine hurricanes and two to four major ones.In May, they forecast a normal season, one or two fewer named storms and hurricanes.
EU fights spread of African swine fever with 10 countries now affected
The situation “is very worrying,” EU Commission spokeswoman Anna-Kaisa Itkonen told a media briefing , urging action against a “catastrophic animal disease” which industry officials in Bulgaria fear could cause damages of up to 2 billion levs ($1.15 billion).
Lloyd’s, London market insurers surpass Q2 electronic placing targets
Much of the electronic risk placement is being handled by the London market’s electronic placing platform, PPL. Some London market business, such as treaty reinsurance, cannot be carried out on the platform. Therefore, it analysis of the extent of electronic placement includes so-called in-scope risks.
Monsoonal flooding across Southern Asia kills hundreds and incurs multi-billion economic loss
According to reports, more than 467 people have been killed this season in India and many thousands of acres of cropland were destroyed. The states of Assam, Bihar, Maharashtra and Uttar Pradesh were among the worst affected. Economic losses were expected to reach well into millions of U.S. dollars with significant costs to agriculture and infrastructure
UK insurers settle 99% of cyber insurance claims
The Association of British Insurers (ABI) has been asking the Information Commissioner’s Office (ICO) to make anonymised cyber breach data publicly available, which would enable insurers to price risk more accurately and manage exposure more effectively by feeding this data directly into their modelling
Global commercial insurance pricing up 6% in Q2:Marsh
CAT pricing increased double digits in several Asian countries,including Singapore, Hong Kong, and India.
As breaches rise, so do the paychecks for Cybersecurity professionals
In April, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told shareholders that cybersecurity “may very well be the biggest threat to the U.S. financial system.” His counterpart at Bank of America Corp., Brian Moynihan, said previously that the lender’s cybersecurity unit operates with an unlimited budget.
Tesla under U.S. scrutiny over safety claims
The Elon Musk-led electric-car maker claimed in October that its Model 3 car had the lowest risk of occupant injury of any vehicle in U.S. government tests, but U.S. National Highway Traffic Safety Administration (NHTSA) said it was inconsistent with the agency’s usage guidelines
World warned: Change now or endanger food and climate
But in a stark warning to those who may hope that vast reforestation and biofuel schemes alone can offset mankind’s environmental damage, the report cautioned that these mega-projects could endanger food security, underlining that reducing emissions will be central to averting disaster