Tedros Adhanom Gebreyesus,Director-General, WHO Almost 4 million...
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World Bank wants catastrophe insurance in new loans for disaster hit countries: Report
Ajay Banga,President,World Bank World Bank President Ajay Banga...
Amazon duped millions of consumers into enrolling in Prime, US FTC says
The consumer protection agency filed a lawsuit claiming that...
Cat hit Markets see price rise at 1 January renewals:Munich Re
“Other markets and branches were also freed from the pricing pressures of previous years, and price development was stable or even slightly positive. Despite the high losses from natural catastrophes in 2017, the availability of reinsurance capital remained high during the January renewals, so price increases were moderate overall, due also to the slight rise in market interest rates,’’ said the second largest global reinsurer while announcing its annual results on Tuesday.
UK to double health surcharge for foreign visitors, students
According to the department’s estimates, the NHS spends 470 pounds on average per person per year on treating surcharge payers. Its projections suggest that the increased charges may provide around an extra 220 million pounds every year, which will be pumped back into NHS services.
Singapore prepares for terrorist attack
In early 2017, Aon lifted Singapore in the terrorism and political violence category of its annual risk map from negligible to low risk.
Swiss Re further strengthens its position in Asia
“Asia has experienced strong economic growth and development in recent years. This naturally comes with additional risk for businesses, governments and societies. As the world becomes more interconnected, the nature of risks develops: geopolitical uncertainty, growing environmental concerns, ageing populations and new health challenges become significant issues to be addressed in this region”
Failure of a top cloud service provider could cost US economy $15 billion
It was found that companies outside of the Fortune 1000 – who are more likely to use cloud provider services – would carry a larger share of the economic and insurance losses than Fortune 1000 companies. However, the biggest 1000 companies in the US would still carry 38% of economic losses.
$344 bn global economic losses in 2017, a record nat cat year: Aon report
Insured losses to the private sector and government-sponsored programs were among the costliest ever incurred, reachingUSD134 billion in 2017 – just behind the record USD137 billion in 2011. This is 139 percent higher than last year’s USD56 billion, primarily due to high insurance penetration in the US
Jan 1 rate firming remains moderate :Guy Carpenter
Reinsurance capital at he end of 2017 is approximately USD 427 billion, up 2 percent from year-end 2016. While traditional capital is flat, convergence capital grew 9 percent to USD 82 billion including replacement of lost or trapped capital
World to be riskier place in 2018: WEF Survey
The biggest risks in terms of impact would be weapons of mass destruction, extreme weather events, natural disasters, climate change, water crises, cyber attacks, food crises, biodiversity loss and ecosystem collapse, involuntary migration and spread of infectious diseases.
Ajit Jain’s promotion provides clarity on Buffett succession plans
Jain, 66, Berkshire’s top insurance executive, was named vice chairman for insurance operations while Abel, 55, the chief executive of Berkshire Hathaway Energy, was named Berkshire’s vice chairman for non-insurance business operations.
Hackers already targeting Pyeongchang Olympics — researchers
McAfee said in a report that several organizations associated with the Olympics had received the malicious email with the primary target being groups affiliated with ice hockey.“The majority of these organizations (targeted) had some association with the Olympics, either in providing infrastructure or in a supporting role,” the McAfee report said.