Median home insurance premiums surged 28% to A$1,894 ($1,240) in...
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Ships backed up in Black Sea lanes as Russia warning shots raise tensions
Firing on a merchant vessel will ratchet up already acute concerns...
Montana judge hands historic win to young plaintiffs in climate change case
The decision by Judge Kathy Seeley in Helena marked a major victory...
Boeing’s legal woes over crashes mount with negligence suits by families
“If they deny theSave ir negligence, we are going to seek every single email, text message between them and the FAA,” Robert Clifford, attorney for Njoroge and Vaidya, told reporters in Chicago on Monday.
Cybersecurity Costing Large Financial Firms $3,000 Per Employee: Survey
Some of the largest banks tripled cyber-defense budgets in the last three to four years amid a surge of attacks on client information, accounts and other data. The finance sector was the focus of 19 percent of all attacks monitored by International Business Machines Corp. last year, the technology firm said in a February report. Spending more on security doesn’t necessarily translate to better defenses, Deloitte said.
Boeing aims to move Lion Air crash lawsuit from Chicago HQ to Indonesia
Boeing — if it can shift the U.S. cases 10,000 miles away — would skirt responsibility and lessen its financial liability.
Willis Towers Watson launches unique $1billion political risk insurance programme
The ever-shifting political environment is demanding a new and innovative approach to how this coverage is currently provided. In conjunction with a select panel of highly rated global insurers, Willis Towers Watson has developed a market-leading, comprehensive and clear policy wording to respond to the needs of its clients. The new programme is targeted at large global clients who may have existing assets or are considering future investments overseas.
China says to further open up banking and insurance sectors
China also plans to remove a requirement for foreign banks to have $20 billion in assets before being able to set up a branch, he added.
IP emerges as a top 10 risk, insurance covers only 16 percent of $1B in potential losses:Report
“One of our key findings is that threats to a company’s intangible assets are not in proper balance with that company’s insurance protection,” said Lewis Lee, Global Head and CEO of Aon’s IP Solutions. “Understanding how to properly value, exploit and insure intangible assets is exponentially heightened in the digital era. Intangible assets are a Board of Director level issue.”
SCOR unveils steps protecting climate and promoting energy transition
SCOR is proactively supporting its clients in the implementation of their climate change strategies. This support is based on detailed underwriting grids, which evaluate both qualitative and quantitative risk factors and encourages insureds to adopt proper conduct in this matter.
Stephen Catlin launches a specialty entity for complex risks,invests $1.8bn capital
Stephen Catlin said: “The launch of Convex distils vast industry experience and client focus to create the insurance company of the future. We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes and we are well equipped to prosper in a challenging market. We are thrilled to have the support of Onex and our co-investors and believe they will be valuable partners to us as we build our business.
Privacy practices probe could cost facebook up to $5 billion
Under the terms of the 2011 settlement with the US Federal Trade CommissionC, Facebook agreed to get user consent for certain changes to privacy settings. The agreement stemmed from claims that it deceived consumers and forced them to share more personal information than they intended. That complaint arose after the company changed some user settings without notifying its customers.
Direct-to-Consumer model gains traction in US auto insurance market
What’s driving this trend? In a word: consumerism. The shift in consumer behavior in the auto insurance industry is quickly moving from face-to-face to digital as large, well-capitalized insurers give consumers the tools to shop as they would for any other consumer product. Increasingly, those insurers who get that consumer model right are the ones who will dominate the market.