The floods are the worst on record for southern Thailand, with the...
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AXA & Insurance Development Forum raise $340 million Infrastructure Resilience Development Fund
This debt fund will invest in small to medium-sized commercial...
Black Sea shipping insurance rates rise after Ukraine attacks tankers
War risk rates for a typical seven-day voyage period, which are set...
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...
Port strike will paralyze half of US trade and cargo carriers
Oxford Economics estimated that a strike would cost the US economy $4.5 billion to $7.5 billion a week — a hit to gross domestic product that would be reversed after it’s over and shipments resume The world’s top container carrier is urging customers to move US cargo...
Marsh McLennan strikes $7.75 bln deal for McGriff Insurance Services
Marsh McLennan said it expects the deal, struck through its Marsh McLennan Agency business, to enhance the unit's capabilities across commercial property and casualty, employee benefits, management liability and personal insurance lines Marsh McLennan, the largest...
California sues Exxon over global plastic pollution
California Attorney General Rob Bonta said the state sued Exxon after concluding a nearly two-year investigation that he said showed Exxon was deliberately misleading the public about the limitations of recycling. The investigation mirrors California’s previous probes...
Toyota cheated on forklift engine emissions, lawsuit in US claims
Toyota suspended some forklift sales in Japan in March 2023 because of emissions issues “Toyota has tried to limit the damage to Japan,” but its “toxic culture of fraud, negligence, and noncompliance” undermined forklift engine certifications in all markets, including...
Floods and landslides kill 60 people in Nepal
The National Disaster Risk Reduction Management Authority (NDRRMA) also issued warnings for 56 out of 77 districts about possible disasters advising people to exercise caution Kathmandu [Nepal]: At least 66 people have been killed in Nepal since early on Friday as...
Ardonagh’s A$2.3 billion acquisition receives approval from PSC shareholders
“Combining the best of PSC and Ardonagh will strengthen the Group’s global position in the retail, specialty and wholesale broking markets to deliver greater scale and efficiency benefits to clients, insurers, brokers and agencies. PSC’s culture and values are closely...