Tracking data shows some tankers turning around, and at least one...
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Middle East conflict: Exporters fear rise in logistics, insurance costs, impact on shipments
"Air routes are being altered, and maritime trade through the Red...
Miller expands reinsurance offering into MENA through acquisition of Shields
James Hands, CEO, Miller, said, “Miller has worked with clients in...
Bill introduced in LS to replace 90-year-old Aircraft Act
The bill includes provisions to regulate the design and manufacturing of aircraft, supporting the Atmanirbhar Bharat initiative for self-reliance New Delhi: A bill was introduced in the Lok Sabha on Wednesday to overhaul India's civil aviation regulations by replacing...
SCOR sees first quarterly loss since 2022
Thierry Leger,Chief Executive Officer,SCOR SE The Paris-based reinsurer posted a loss of €308 million ($333 million) in the three months through June, missing analysts’ estimates. The result was driven by a €329 million operational loss in the life and health unit...
Companies ‘Paralyzed’ as Australia plans tough climate rules
Authorities estimate the average cost of compliance to be A$1 million ($655,550) but some large organizations calculate the total is likely to be above A$3 million, said Jillian Button, head of climate change at law firm Allens Australia’s plans to introduce stringent...
Global aviation insurance premium to hit a 20-year high of more than $8bn in 2024, says Allianz
Analysis of more than 32,000 industry claims from 2019 - 2024 with a total value of US$15bn (€14bn) shows that collision or crash incidents (63%) and faulty workmanship or defective products (22%) are accountable for 85% of the value. Other incidents like natural...
Swiss Re announces Group CFO succession as John Dacey retires in 2025
Anders Malmström from Athora Holdings, a leading European savings and retirement services group will succeed John Dacey as group chief financial officer as of 1 April 2025 Zurich: Swiss Re, the second largest globa reinsurer, announced today that Anders Malmström will...
CrowdStrike: Delta Air to seek compensation over IT outage
The cyber outage led to more than 2,200 flight cancellations on July 19 and Delta has canceled over 6,000 flights so far since then.CrowdStrike's "Falcon Sensor" software had caused Microsoft Windows to crash and display a blue screen, known informally as the "Blue...
ICICI Lombard General to partner with Karnataka Bank
ICICI Lombard has announced its collaboration with Karnataka Bank.The entire range of insurance products of ICICI Lombard General Insurance will now be accessible across Karnataka Bank's 915 branches, reaching over 13 million customers nationwide.
Jessica Schappell appointed as Beazley’s APAC head
Jessica Schappell The risks facing the region are getting more complex and a recent Beazley report found that 44% of businesses in Singapore believe they operate in a high-risk environment. London: Beazley, the leading specialist insurer, announced the appointment of...
Insured losses from CrowdStrike outage could reach $1.5 bln, CyberCube says
Reinsurance broker Guy Carpenter said that insurers may face claims on directors and officers’ and property insurance as a result of the outage, in addition to cyber insurance claims Global insured losses from last week’s massive IT outage are likely to range from...
Global IT outage: Enhancing cyber resilience
The incident highlights the need to shift our perception of cybersecurity from a mere IT issue to the broader concept of cyber resilience as an integral part of business resilience. In the face of a cyberattack, businesses should be able to recover fast from an...