Airlines are racking up costs and losing market share from canceled...
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Rise of autonomous vehicles to impact $400 billion US auto-insurance industry, says Goldman Sachs
“Autonomy has the potential to significantly reduce accident...
Hindu Kush Himalayas at greater risk Of landslides, floods this monsoon: Report
While the monsoon is crucial for refilling these rivers, the danger...
U.S. insurers’ direct exposures to bank failures modest; Liability profiles support stability, says Fitch
Fitch's sector outlooks for U.S. Life and U.S. P&C are ‘neutral’ Insurers’ investments to the failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure to the failed banks (comprising...
EU’s climate stress now to include insurers
The inclusion of insurers marks an expansion of the region’s preparations for the transition of the financial sector. Insured losses from climate change hit about $120 billion in 2022, according to data compiled by Munich Re, and the industry is generally seen as at...
Flood Risk: shifting from a responsive to an anticipatory approach
Only 17% of global losses were insured between 2007 and 2021, with the biggest protection gaps in developing countries, where insurance is often not available. Flood risk is pervasive and set to increase. According to Marsh McLennan estimates, 1 out of 3 people...
Govt plans new security testing for smartphones, crackdown on pre-installed apps
India's IT ministry is considering these new rules amid concerns about spying and abuse of user data, said a senior government official "Majority of smartphones used in India are having pre-installed Apps/Bloatware which poses serious privacy/information security...
Zuckerberg was warned on social media addiction, says a US court filing
Mark Zuckerberg,CEO,Meta The case in Oakland comprises a collection of scores of complaints filed across the US on behalf of adolescents and young adults who allege that Facebook, Instagram, TikTok, Snapchat and Google’s YouTube caused them to suffer anxiety,...
Finance firms with $136 trln urge boards for more environmental data
For the first time, the questionnaire will also ask companies about plastics-related business risks, for example around packaging, and how they are addressing them The increase in demand for more information from companies comes as regulators across the world begin to...
Billions worth of crypto trades at risk as shutdown of 3 banks takes toll
Liquidity, or ease of trade, for Bitcoin-to-dollar and Bitcoin-to-Tether transactions on some US exchanges has dipped between 35% and 45% from the beginning of March to Saturday, according to research firm Kaiko. Meanwhile, crypto companies have been scouring for...
Landslides in Himachal Pradesh increased six times in past 2 yrs: Govt Report
High intensity rainfall coupled with cutting of hill slopes or rocks at the foothills are the main reason behind the significant number of landslides, experts say. Extensive cutting of hill slopes for construction and widening of roads, blasting for tunnels, hydro...
Fallout from SVB collapse spreads around world
This is just the beginning. SVB had branches in China, Denmark, Germany, India, Israel and Sweden, too. Founders are warning that the bank’s failure could wipe out startups around the world without government intervention. SVB’s joint venture in China, SPD Silicon...
ECB to test banks for cyber resilience
The ECB has long been warning banks to be alert for cyberattacks from Russia after the European Union passed a long series of sanctions against Moscow over its invasion of Ukraine. “There has been a significant increase in cyberattacks,” Enria said. “We cannot...