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Economic and cyber risks are the top risks facing Directors: Report
Economic risk was considered the top risk for businesses by 63% of...
Tanker company transporting Russian Oil loses insurance on G-7 Cap
Since early December, companies in G-7 countries have only been...
Disasters could cost Asia-Pacific region $160 billion per year by 2030, UN warns
In her remarks, Ms. Akhtar outlined the opportunities offered by recent innovations such as catastrophe risk modelling, parametric insurance, a mix of traditional and global financial reinsurance, and concessional insurance.
Lloyd’s to end most paper trading by end of 2019
chief executive Inga Beale has already mandated that 30 percent of trading must be done digitally by the end of this year, and the aim is to hit 80 percent by the end of next year,
Reinsurer capacity remains stable despite 2017 catastrophe loss activity: Willis Re
“The pressure on traditional reinsurers from alternative capital suppliers is stronger than ever, as many participants in this market cleared their first true major test. This increase in alternative capital, as well as the global reinsurance market having more capital to deploy, is continuing to dampen price increases in the mid-year renewals”
Australia’s IAG set to sell SE Asia businesses in regional retreat: sources
Despite years of investments, Asia has proved a challenge for IAG. The insurer posted an underwriting loss in Asia of A$6 million ($4.63 million) in its fiscal first half of 2018, although that loss narrowed from A$9 million in the second half of 2017.
Asia’s overall earnings contribution decreased to A$10 million in 2017 from A$26 million a year earlier.
Fearing Collisions, Airlines Support Global Drone Registry
IATA would consider collaborating with the International Civil Aviation Organization (ICAO) with using the registry for data analysis to improve safety.ICAO is developing the registry as part of broader efforts to come up with common rules for flying and tracking unmanned aircraft.
Traumatic Stress Claims Expected from Southwest Airlines Engine Failure
Days after a jet engine exploded about 32,500 feet over Pennsylvania 20 minutes into a flight, federal and corporate inspectors are examining what happened. The National Transportation Safety Board said it will take at least a year to pinpoint what caused the engine failure that led to the first fatality on a U.S.-registered airline in more than nine years.
Facebook Facing Potential Multi-Billion Dollar Liability in Biometric Litigation
A federal judge ruled Monday that millions of the social network’s users can proceed as a group with claims that its photo-scanning technology violated an Illinois law by gathering and storing biometric data without their consent. Damages could be steep — a fact that wasn’t lost on the judge, who was unsympathetic to Facebook’s arguments for limiting its legal exposure.
“Cloud-based office solutions under increasing attack”
More and more organizations are turning to cloud-based solutions but, when a business email account is hacked, they find that the system’s default settings are inadequate to show the extent to which emails have been compromised.
Rapid tech advances outpacing risk management:MARSH/RIMS
“Emerging technologies like AI, blockchain, and IoT are fast becoming the new normal, yet risk management is not keeping up,” said Brian Elowe, chief client officer, North America, Marsh. “Only by asking questions and understanding the underlying technologies and their uses throughout the organization can risk professionals truly appreciate their risks and respond accordingly.”
Global reinsurer capital up 2 pc to USD605 billion at December 31,2017
Traditional capital rose by USD2 billion to USD516 billion, while alternative capital rose by USD8 billion to USD89 billion, according to Aon Benfield’s April 2018 Reinsurance Market Outlook.