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Trebling of “nuclear” court verdicts challenges companies and liability insurers: Allianz
Recent years have also seen a growing list of pharma, food, and...
Cyber Insurance: Largest potential lies in the SME opportunity, says Swiss Re
Dani Tobler.Head Cyber Reinsurance at Swiss Re "North America...
Eight global insurers launch net-zero climate alliance
The companies, which include Europe’s top three insurers by premiums – Allianz, AXA and Generali – said the Net-Zero Insurance Alliance (NZIA) would work to shift underwriting portfolios towards net-zero greenhouse gas emissions by 2050.
Billionaire Branson soars to space aboard Virgin Galactic flight
The Swiss-based investment bank UBS has estimated the potential value of the space tourism market reaching $3 billion annually by 2030. Proving rocket travel safe for the public is key.
Virgin Galactic’s CEO Michael Colglazier.said 600 wealthy would-be citizen astronauts have also booked reservations, priced at around $250,000 per ticket for the exhilaration of supersonic flight, weightlessness and the spectacle of spaceflight.
British billionaire Richard Branson has said he aims ultimately to lower the price to around $40,000 per seat as the company ramps up service, achieving greater economies of scale. Colglazier said he envisions eventually building a large enough fleet to accommodate roughly 400 flights annually at the spaceport.
India wants rich countries to pay more for green energy shift
“Every policy decision has a cost to the economy. Going net-zero or using less carbon also has a cost,” Environment Secretary Rameshwar Prasad Gupta said in an interview at his New Delhi office. “We are not anti-net-zero. But without adequate climate finance being definitively available, we can’t commit on that part.”
Negotiations begins to sell catastrophic modelling firm RMS
London: Daily Mail and General Trust Plc (DMGT) said it is in discussions to sell its catastrophe modeling insurance unit, RMS, following a number of third party inquiries. While discussions are ongoing and there can be no certainty that a transaction will...
Germany declares first-ever “cyber-catastrophe”
Hackers knocked out the IT operations of the municipality of Anhalt-Bitterfeld, in the state of Saxony-Anhalt, on Tuesday, a spokesperson confirmed to Reuters on Saturday.The rural district of Anhalt-Bitterfeld, with a population of 157,000, is for the time being unable to pay out welfare benefits. Its consequent catastrophe declaration is a formal step that allows it to call for federal help.
FM Sitharaman emphasises on role of technology in fighting climate change
She also shared India’s innovative policy mix for better environmental outcomes, such as the new Energy Map of India; digital innovation and emerging fuels; International Solar Alliance for enabling clean energy; and promotion of energy efficiency and afforestation.
Sompo International Commercial P&C sets up Sompo Global Risk Solutions Asia-Pacific, expands multinational capabilities
Initially, Sompo GRS Asia-Pacific will seek to write business and offer its white glove service model in China, India, Japan (for Sompo GRS clients only), Macao, Hong Kong and Singapore. Thereafter, Sompo GRS Asia-Pacific ultimately intends to serve additional countries throughout the region.
Asia-Pacific Climate week 2021 sends strong signal to COP26
The Asia-Pacific regions emits more than half of the world’s greenhouse gas emissions and is one of the most rapidly developing regions of the world, with a significant proportion of the global population. And it is home to most of the world’s low-lying cities and vulnerable small island states.
Munich Re expands Cyber business in India, expects market size to be $150 million by 2025
“ Cyber risk coverage is a strategic focus of Munich Re and we are committed to supporting our partners in India to create a long-term sustainable market. India’s economic size and eagerness to adopt new technologies presents a unique opportunity in retail and commercial cyber as more Indians/ Indian enterprises move towards the internet of things and get connected to the internet,’’ said Hitesh Kotak, Chief Executive Officer at Munich Re India Branch, adding that with its innovative solutions, Munich Re is one of the leading providers shaping the global cyber market and responding to the challenges of evolving vulnerabilities.
Paris climate targets not possible without a carbon removal industry the size of oil & gas: Swiss Re study
Christoph Nabholz, Chief Research Officer at Swiss Re Institute, “Carbon removal will need to evolve into a multi-trillion-dollar industry akin to the value of the oil and gas industry today if we are to hit the climate targets set out by the 2015 Paris Agreement. Serious investment in this nascent industry must start now. Failing to tackle climate change could result in global GDP loss of 18%, which we showed earlier this year. No action is not an option.”