Tobias Grimm, Munich Re’s Chief Climatologist: “A warming world...
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Russian-bound tanker hit by drone in Black Sea, maritime sources Say
In late November, shipping insurance rates rose after Ukrainian...
China urges Nestlé SA to work quickly in recalling baby formula products
While Nestlé has yet to tally the total cost of the global recall,...
EV-carrying ship that caught fire in Pacific ocean has sunk
Demand for lithium-ion batteries, including in EVs, is bringing a new risk to the global shipping industry, particularly given the value of the vehicles on board the largest car-carrying vessels, according to a report last month by insurance giant Allianz. .A ship...
Secondary perils emerging as a big opportunity, Need data and good models to deal with them, says Swiss Re
Beat Strebel,CEO, China, Swiss Re These lesser understood risks are increasingly becoming a source of insurance payouts as extreme weather events lead to billions in economic losses. Traditionally, reinsurers — which provide coverage to insurance companies — haven’t...
DGCA finds various defects in aviation ecosystem during surveillance at major airports
Among other defects, the regulator found that a simulator was not matching with the aircraft configuration and also the software was not updated to the current version. New Delhi: Aviation watchdog DGCA on Tuesday said surveillance conducted at major airports revealed...
Iran-Israel conflict: Re/insurers face complex set of financial, operational, and strategic risks
The Iran-Israel conflict is, in many ways, a stark reminder of the insurance industry's evolving role as an absorber of geopolitical and systemic risk in an increasingly interconnected world, says Morningstar DBRS, a global credit rating agency The hostilities between...
Aon launches Aon Broker Copilot to modernize insurance placement with AI and data at scale
" "The industry is undergoing a fundamental shift. As risk becomes more complex, the future of broking will belong to firms that can combine expertise with intelligence at scale. Aon Broker Copilot reflects how Aon is undertaking one of the most ambitious digital...
Asia warming twice as fast as global average: WMO
The sea surface in Asia is also warming at nearly double the global average over the past decades, said the World Meteorological Organization's "State of the Climate in Asia in 2024" report. New Delhi: Asia, the largest continent in the world with around 60 per cent...
Airlines weigh Middle East cancellations after US strikes in Iran
Cancellations in recent days to usually resilient aviation hubs like Dubai, the world’s busiest international airport, and Qatar’s Doha by international carriers show how aviation industry concerns about the region have escalated Airlines on Monday were weighing how...
Insurance and vessels not available for Iran-bound cargo amid Middle East conflict, India’s basmati rice shipments to Iran stuck at ports
The shipments are primarily held up at Kandla and Mundra ports in Gujarat, with neither vessels nor insurance available for Iran-bound cargo due to the Middle East conflict, said president Satish Goyal New Delhi: Around 1,00,000 tonnes of basmati rice destined for...
Gold shows structural shift as volatility falls, rate sensitivity weakens: Llama Research
New Delhi: Volatility in gold prices has declined and its response to interest rate hikes has become increasingly asymmetric, signalling a deeper, structural shift in the metal's role in global portfolios, said Llama Research in its June edition.According to the...
Israel says Iran is hacking private security cameras
A spike in cyberattacks has accompanied the war between Israel and Iran, with a pro-Israel hacking group known as Predatory Sparrow claiming responsibility for disrupting a major Iranian bank and a breach that struck an Iranian crypto exchange. Iran’s state-run IRIB...