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US Indian national pleads guilty to defrauding telephone providers insurance firms of millions of dollars
According to documents, from June 2013 through June 2019, Bhavsar...
El Nino likely to develop between Sept and Nov, Australian weather bureau says
“Sea surface temperatures (SSTs) in the tropical Pacific are...
Record-setting heatwave and costly severe weather sweep across Europe in June
Michal Lorinc, Catastrophe Analyst within Aon’s Impact Forecasting team, said: “An active start to summer in the Northern Hemisphere featured many large-scale weather events including severe thunderstorms, flooding, extreme heatwaves, and drought. Europe was at the center of many of these perils as record temperatures engulfed parts of France, and large hail and damaging winds led to more than USD730 million in insured costs in Germany alone. Impact Forecasting currently has a fully probabilistic hail model available for several European countries to help clients better understand the growing risks associated with hail to property exposure.”
Brazil undertakes sweeping pension sector reforms
As it currently stands, the bill would set a minimum retirement age of 65 for men and 62 for women, with a transition period of 12 to 14 years. If enacted as approved by the lower house, the legislation would save the state over 900 billion reais ($236 billion) over a decade.
Swiss Re suspends £3.3bn ReAssure’s IPO due to market conditions
“While we firmly believe that the long-term interests of ReAssure are best served by a more diversified shareholder base, there has been no pressing need for Swiss Re to divest shares at a price that we consider to be unrepresentative of ReAssure’s value and future prospects”
Cyber attacks cost $45 bn in 2018 as ransomware hits hard
The report suggested cyber criminals are getting more sophisticated in targeting their victims, but also noted many attacks could have been prevented with improved computer security.
CCRIF & World Bank issue first parametric fisheries insurance
The COAST insurance policies provide coverage for fisherfolk and other players in the fisheries industry to enable them to recover quickly after weather-related events. Initial funding for COAST has been provided by the U.S. State Department.
British Airways faces record $230M fine for data breach under new GDPR Rules
The attack involved traffic to the British Airways website being diverted to a fraudulent site, where customer details such as log in, payment card and travel booking details as well as names and addresses were harvested, the ICO said.
Canopius hires 4 in APAC growth drive
The appointments support Canopius’ ambition to expand in the Asia Pacific region by targeting a combination of SME business via coverholders and wholesale direct and facultative.
Massive earthquake hits California, towns survey damage amid 1700 aftershocks
There had been about 1,700 aftershocks since the Thursday quake, which was a bit higher than average, said Zachary Ross of the California Institute of Technology.
“An event of this size is going to keep producing aftershocks for years but the rates are going to decay with time,” Ross said.
Global insurance prms exceed a record $5 trillion in 2018, to grow by 3% in 2019/20:Swiss Re Study
The non-life sector faces a fundamental structural shift over the next decades,with a possible decline in premiums from motor, the dominant line of business today. This potential decline will come as a result of the ongoing evolution of advanced driver-assistance systems and self-driving car technologies, which are expected to lead to lower claims, and so also lower premium rates and volumes in motor.
Global #MeToo movement provides lots of work for London’s top lawyers
Horacio Bernardes Neto, president of the International Bar Association that represents attorneys, said in May that law firms hired to advise corporations on how to handle harassment allegations needed to get their own hiring and workplace behavior in order because of the risk being called out for hypocrisy, after a global survey found one in three female attorneys has been sexually harassed at work.