The impact on reinsurance pricing, which is already elevated, could...
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Blockchain analysts suspect North Korea-linked hackers behind $70 million crypto theft
CoinEx, which says it is based in Hong Kong, said on Tuesday on...
Zurich and KPMG collaborate to provide comprehensive climate change advisory services
In this evolving environment, it is increasingly important that...
Munich Re invests $ 250m more in Next Insurance
This investment emphasises Munich Re’s commitment to be the leading provider of digital insurance solutions. It also helps Munich Re expand its footprint in the promising insurance market for small and medium-sized commercial customers in the United States. We are confident that building on our proven collaboration will benefit both Munich Re and Next Insurance,”Joachim Wenning, chairman, Munich Re
Axis Capital drops bid to cover Adani’s Australian coal mine project
“The Adani Group’s giant Carmichael coal mine is incompatible with international climate targets and AXIS is the 15th insurer and 58th financial institution to rule out support for this project,” said Peter Bosshard, coordinator of the Unfriend Coal campaign.
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.