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South Korea online retailer Coupang faces US securities class action over massive data breach
The lawsuit, filed last week in federal court in California, claims...
Private credit ratings face fresh scrutiny from global watchdogs
The Financial Stability Board, which monitors global risks, has...
Nippon Life in talks to buy Resolution Life in deal worth $8.2 billion
Cross-border M&A involving Japanese companies has surged this year, driven by amended guidelines designed to encourage takeovers of Japanese firms.Japanese firms also are continuing to look abroad for growth as their domestic market shrinks Nippon Life Insurance...
Arthur J Gallagher strikes $13.5 billion deal to strengthen US insurance broker business
Gallagher follows in the footsteps of rivals Aon and Marsh McLennan, which have also struck $13 billion and $7.75 billion, deals, respectively, over the last 12 months to expand into the vast and fast-growing middle-market insurance business Arthur J Gallagher said on...
UnitedHealthcare CEO’s shooting opens door for many to vent frustrations over insurance
In particular, the words written on ammunition found at the shooting scene — "delay," "deny" and "depose," echoing a phrase used to describe how insurers dodge claim payouts — amplified voices that have long been critical of the industry New York: For years, patients...
Globally, Natcats result in $133bn economic and $ 51bn of insured losses: Munich Re
The costliest typhoon in Asia – and the third-costliest cyclone of the season worldwide – was Typhoon Yagi. It struck the Philippines, the Chinese island of Hainan, and the southern tip of the Chinese province of Guangdong as an extreme storm before making landfall in...
Investigation finds Rio Tinto legacy Bougainville mine poses life-threatening risks
The findings, released in a report on Friday, included "imminent, life-threatening risks posed by the collapsing mine pit, levees and infrastructure," as well as ongoing contamination of the Jaba-Kawerong river Rio Tinto recognises the gravity of the impacts and...
Economic threats continue to overshadow climate and cyber risks
Extreme weather events featured in the G20’s top five risks, as the fifth biggest risk. This follows a year in which many G20 countries – including Brazil, Germany, Indonesia and the U.S. – experienced severe flooding, above-average rainfall, wildfires, extreme heat...
US Healthcare industry rethinks risk after murder of UnitedHealth exec
Before the shooting, most risk assessment efforts were conducted for medical practices and other healthcare providers, which have faced increasing hostility from the public since the COVID-19 pandemic NEW YORK: Health insurance companies are reassessing the risks for...
Investors with $9.5 trillion seek mandatory Scope 3 emissions disclosures
The group, which includes Allianz SE and the California Public Employees’ Retirement System, said while it’s critical for signatories to consider Scope 3 pollution, integrating those emissions into carbon accounting and target setting “is highly challenging” due to a...
Amundi SA eyes acquiring control of Allianz Global Investors
Rising costs and pressure on fees are prompting asset managers to seek further scale. Many of the biggest players in Europe are still owned by banks or insurers, and often lack the scale to compete with US fund houses and alternative investment firms that have enjoyed...
Ammunition used in CEO’s killing had ‘deny,’ ‘defend’, ‘depose’ written on it
The message left on the ammunition echoes the phrase “delay, deny, defend,” which is commonly used by attorneys and insurance industry critics to describe tactics used to avoid paying claims. It refers to insurers delaying payment, denying a claim and then defending...