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Ukraine weighs possibility of insuring ships going via ‘grain corridor’ – Interfax-Ukraine
Ukraine is considering the possibility of insuring ships going...
Europeans lack insurance protection as wildfires and drought batter the region
When it comes to disaster response, the ECB sees insurers as the...
Equifax’s $700 million data breach settlement includes $300 million for consumers
Under the settlement, the company will establish a $300 million restitution fund for harmed consumers that could climb to $425 million depending on its use. Consumers eligible for the fund must submit claims showing they were fraud victims or set up credit-monitoring services following the breach
Google to pay $11 million to settle age bias employment claims
The case was brought by a woman who claimed she was interviewed by Google four times over seven years and was never offered employment despite her “highly pertinent qualifications and programming experience” because of her age. Cheryl Fillekes accused the company of “a systematic pattern and practice of discriminating” against older people.
United States swelteres in dangerously hot weather
Earlier in the day the NWS said “numerous stations” stretching from Massachusetts in the north to North Carolina in the south “were reporting heat index values between 100-110” degrees, with the highest values found in the southeast of the state of Virginia.
Fed’s Bullard sees cryptocurrencies shifting US financial system
While it is possible for multiple currencies to exist simultaneously and lead to more voluntary transactions, “in the real world, some of these now-enabled transactions may be illegal or quasi-legal,” he said.
Ebola outbreak declared international emergency by WHO
The spread of the disease outbreak across borders is a requirement for the trigger to be activated for the at-risk tranche of the World Bank’s IBRD CAR 111-112 catastrophe bond, that backs the Pandemic Emergency Financing Facility (PEF).
Boeing Creates $50M Crash Victims’ Fund
Boeing reiterated on Wednesday that the money distributed through the fund would be independent from the outcome of any lawsuits. The company is facing a slew of litigation from the families of victims of both crashes.
Harvard University invests in Litigation Finance Fund
Litigation finance has made inroads with law firms and litigants around the world, with investors committing an estimated $9 billion over the long-term to the growing industry, according to Bloomberg Intelligence. The funds, which have been knocked for fueling more lawsuits, pursue strategies from financing cases against corporations to providing cash advances to individual plaintiffs in exchange for a share of settlements.
More than one in 10 firms losing over $10 million due to cyberattacks:Willis Towers Watson
“Other than the direct costs such as financial expenses and fines arising as a result of cyber breaches, indirect costs such as opportunity costs, reputational damage and loss of customers can be equally or even more costly to companies. While the immediate losses from an incident may not be catastrophic, it may take more than five years for a company to feel the full financial consequences, particularly if a company has lost their competitive advantage as a market leader. It is therefore important for companies to take an integrated approach in assessing and managing their reputational risks,” added Jessica Wright, Cyber Leader Asia, Corporate Risk & Broking at Willis Towers Watson
Shipping firms begin hiring unarmed guards for voyages in Middle East Gulf
-Jim Hilton, managing director with maritime security company PVI, said while a ship’s crew were able to carry out functions including increased watches and regular walk-rounds of the vessel, external support could provide “psychological comfort.”
-Additional insurance premiums are up tenfold, adding as much as $100,000 in costs for a supertanker sailing on a seven-day trip, ship insurers added
Financial world’s blockchain euphoria gives way to pragmatism as projects stall
The euphoria that surrounded the early days of Wall Street’s interest in blockchain is giving way to pragmatism, as companies realize that it will likely take years before it takes off in a substantial way.