An eight-person jury would be tasked with deciding how much Boeing...
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Marsh appoints Andrea Bono as CEO of India, Middle East, and Africa
Andrea Bono, CEO=designate, India, Middle East, and Africa (IMEA),...
Hurricane Melissa to trigger Jamaican Cat Bond, reinsurance losses
Hurricane Melissa will trigger the $150 million, International Bank...
Absence of major losses paves the way for competitive pricing in power insurance sector: WTW
A shift in appetite from coal to non-coal power and the phasing out of underwriting existing coal risks have combined to encourage insurers to seek new opportunities in deploying their capital. We are seeing an increasing number of insurers seeking to offer long-term...
Cognizant adopted discriminatory practices against non-Indians: US jury
The verdict came after the IT firm failed to persuade a Los Angeles federal judge last month to toss a 2017 job bias class-action lawsuit when a previous trial ended with a deadlocked jury California: Cognizant Technology Solutions Corp. engaged in a pattern of...
mpox spreads rapidly in Congo’s capital Kinshasa
So far this year, more than 34,000 suspected cases of the disease, caused by both clades have been reported across Africa, more than triple the number recorded at the same time in 2023. As many as 95% of the cases are in Congo and Burundi and 866 people have died The...
Africa Specialty Risks to operate as a Lloyd’s service company on behalf of ASR Syndicate 2454
ASR Ltd is now able to write up to USD $10 million per risk across its Political Violence and Terrorism, Energy, Construction, Property, and Liability lines of business, with additional lines to be added, subject to necessary approvals London: Africa Specialty Risks...
More than 1-in-3 people globally vulnerable to flood Risk, says Moody’s
South Asia is the most flood-prone region, with almost 40% of its inhabitants susceptible to inland flooding and just over 5% at risk from coastal flooding at the 100-year return period level London: As the Southeastern US and central Europe contend with the aftermath...
Microinsurance Network announces partnership with African Insurance Organisation
Together, MiN and AIO, with additional support from the International Labour Organization (ILO)’s Impact Insurance Facility aim to create a robust platform for knowledge sharing, capacity building, and the promotion of product development to enhance the inclusive...
Airlines in the Gulf adjust routes after Iran’s attack on Israel
Neighbouring countries have closed their airspace and airline crews are navigating alternative routes to avoid the escalating conflict DUBAI: Several airlines operating in the Gulf have adjusted their flight routes to ensure passenger safety following Iran's attack on...
WTW to sell insurance distribution unit to public-equity firm for $632.4 million
“With the sale of Tranzact, we are exiting this direct-to-consumer market and accelerating our progress toward our long-term free cash flow margin goals,” WTW CEO Carl Hess said Willis Tower Watson said Tuesday it would sell its direct-to-consumer insurance...
Tesla, Musk beat shareholder lawsuit over self-driving promises
Elon Musk,CEO,Tesla U.S. District Judge Araceli Martinez-Olguin in San Francisco said shareholders failed to show Tesla and Musk should be liable for falsely promising they were close to delivering technology that would drive safer than humans, but that was actually...
EU privacy regulator fines Meta €91M over password storage in GDPR violation
The inquiry was opened five years ago after Meta notified Ireland’s Data Protection Commission (DPC) that it had stored some passwords in “plaintext.” Meta publicly acknowledged the incident at the time and the DPC said the passwords were not made available to...