According to four sources familiar with the matter, the agreement...
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Global temperatures to reach near-record highs in next five years, report finds
"There's very clear evidence that the climate is warming and that...
Wealthy families cut dollar exposure, survey finds
"For the first time, we are feeling that family offices want to...
US SEC chair says agency plans to create new rules for crypto tokens
Paul Atkins, the chair of the Securities and Exchange Commission In remarks made at the outset of a public meeting of the SEC’s crypto task force, Atkins also indicated that the SEC may consider tweaking its rules so that registered broker-dealers with an alternative...
Markel launches first-of-its-kind affirmative cyber product for collateral war cover
Chris Burgess, Director of Cyber at Markel International, commented: "With this new product, Markel is responding to the changing needs of our clients. We're conscious that some larger clients still want cyber cover for the indirect impact of war, and this product is...
UK’s financial regulator to relax rules for pushing insurance to large companies
The changes aim to better differentiate big corporates from smaller businesses that take out insurance, the Financial Conduct Authority said in an emailed statement on Wednesday. The move would “ease the burden on firms insuring larger businesses that can manage risks...
Wildfires and floods cause billion-dollar economic loss in Asia Pacific in the first quarter of 2025: Aon Report
George Attard, CEO for Reinsurance Solutions for APAC , Aon In the APAC region, the protection gap was much higher with 95 percent of the losses not covered. Increases in population density in coastal areas, wealth and overall exposure to natural hazards in high-risk...
Global banking regulators agree to prioritise climate risk work
The oversight body of the world’s forum for banking regulators met on Monday to take stock of the committee’s work on climate-related financial risks and agreed to prioritize efforts to understand financial risk implications of extreme weather events, the Bank for...
German reinsurers post profit falls after $1.9 billion Los Angeles fire claims
“The devastating wildfires in California are another example of how climate change is exacerbating the risks of extreme weather events,” said Hannover Re Chief Executive Clemens Jungsthoefel Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp...
Google facing at least €12 Billion in civil claims across Europe
The civil suits are linked to a 2017 decision by the European Commission to fine Google €2.4 billion for illegally leveraging its search dominance to give its own shopping service an edge Alphabet Inc.’s Google is facing at least €12 billion ($13.3 billion) in damage...
UnitedHealth CEO steps down; suspends 2025 outlook on higher medical costs
Andrew Witty, CEO ,UnitedHealth UnitedHealthcare is the US' largest provider of Medicare Advantage plans, with more than 8 million customers. Those are privately run versions of the federal government coverage programme mostly for people ages 65 and older....
EU changes to sustainability law risk company lawsuits, legal scholars say
The EU’s plan to simplify the Corporate Sustainability Due Diligence Directive (CSDDD), which was proposed as part of an omnibus bill put forward by the European Commission in February, “is really risky,” said Thom Wetzer, founding director of the Oxford Sustainable...
Google to pay Texas $1.4 billion in data privacy settlement
The agreement settles several claims Texas made against the search giant in 2022 related to geolocation, incognito searches and biometric data. The state argued Google was "unlawfully tracking and collecting users' private data." Google will pay $1.4 billion to Texas...