War insurance costs for some port calls have been quoted between...
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Ransomware grows beyond traditional hotspots,hit emerging economies
William Altman, Head of Cyber Threat Intelligence Services, said:...
Thailand floods “paralyzed” flow of high tech components and car parts to neighboring Malaysia
The floods are the worst on record for southern Thailand, with the...
US ‘notorious markets’ report warns of risks from online pharmacies
The report says 96 per cent of online pharmacies were found to be violating the law, many operating without a license and selling medicines without prescriptions and safety warnings. Nearly all of the world's 35,000 online pharmacies are being run illegally and...
McGill offers property war reinsurance for Ukraine
McGill said it had collaborated with local Ukrainian insurer ARX to provide up to $50 million in cover for each commercial property policy, with reinsurance from companies in London, including Lloyd’s of London syndicates Broker McGill and Partners has launched a...
Los Angeles wildfire economic loss estimates top $50 bln
J.P. Morgan believes that insured losses originating from the wildfire could be around $10 billion, "We expect a majority of the losses to be related to homeowners' coverage and a significantly lesser amount to commercial," it said U.S. private forecaster AccuWeather...
Global natural disasters cause $ 320 bn of economic losses, $140 bn of insurance claims in 2024 : Munich Re
Weather catastrophes were responsible for 93% of overall losses and 97% of insured losses. Around 11,000 people lost their lives as a result of natural disasters in 2024 – significantly fewer than the average. Non-peak perils are increasingly fuelling the trend of...
Lloyd’s CEO John Neal to join Aon as global Reinsurance CEO and chairman of climate solutions
John Neal Neal, after six years in Lloyd's as a CEO, will play an important role in delivering Reinsurance solutions to meet the evolving demands of today's dynamic marketplace. He will be based in London, reporting to Andy Marcell, CEO of Risk Capital for Aon, and...
Wildfires rage in Los Angeles, forcing tens of thousands to flee
Numerous buildings were destroyed and nearly 3,000 acres (1,200 hectares) burned in the Pacific Palisades area between the beach towns of Santa Monica and Malibu, officials said. The area is home to many film and music stars. LOS ANGELES: More than 30,000 people...
Powerful Tibet earthquake near Nepal kills at least 96
The quake hit at 9:05 a.m. (0105 GMT), with its epicentre located in Tingri, a rural Chinese county known as the northern gateway to the Everest region, at a depth of 10 km (6.2 miles), according to the China Earthquake Networks Centre. The U.S. Geological Service put...
Strong reinsurer appetite drives excess property catastrophe capacity at January 1:Guy Carpenter
Dean Klisura, President & CEO of Guy Carpenter. “Renewal outcomes at year-end reflect reinsurers’ positive property experience over the last two years and casualty portfolios that are well-positioned for future profitability,” said GC. London: Global reinsurance...
Biden signs Social Security measure to expand benefits for some retirees
President Joe Biden "The bill I'm signing today is about a simple proposition: Americans who have worked hard all their lives … should be able to retire with economic security and dignity," Biden said. "That's the entire purpose of the Social Security system crafted...
A top climate group for banks and asset managers is making changes
While GFANZ has grown in prominence — it now has more than 700 members — it also has become a target of US Republicans who accuse such alliances of functioning as anti fossil-fuel cartels. Such accusations have coincided with an increase in investigations and lawsuits...