International & Reinsurance News

Cybercrime and Sabotage Cost German Firms $300 Billion in Past Year

Cybercrime and other acts of sabotage have cost German companies around 267 billion euros ($298 billion) in the past year, up 29% on the year before, according to a survey published on Wednesday. Industry association Bitkom surveyed around 1,000 companies …

Insured Losses From Canada’s Jasper Wildfire Surpass C$880 Million

This summer’s devastating wildfire in Jasper, Canada resulted in more than C$880 million (US$653.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting data provided by Catastrophe Indices and Quantification Inc. (CatIQ). The sudden and intense …

UK Tones Down Worker ‘Right to Switch Off’ Demands on Firms

Britain’s Labour government is watering down ambitions to give employees a legal right to ignore work demands outside office hours, favoring softer rules that had limited impact for workers in Ireland. Rather than seeking legislation for the “right to switch …

Update: Japan Issues Emergency Warning as Powerful Typhoon Shanshan Approaches

Southwestern Japan braced on Wednesday for what officials say could be one of the strongest storms to ever hit the region, as some residents in the path of Typhoon Shanshan were ordered to evacuate and major firms like Toyota closed …

Update: US Warns Leaking Oil Tanker Poses Growing Red Sea Pollution Risk

An abandoned oil tanker attacked in the Red Sea by Iran-backed Houthi rebels a week ago appears to be burning and leaking, raising the specter of an environmental disaster, a Pentagon spokesman said on Tuesday. The comments are the latest …

Update: EU Faces 2 Lawsuits Over Emissions Rules, ‘Green’ Label for Planes

Environmental campaigners have taken the European Commission to court, seeking to force Brussels to upgrade its emissions rules for 2030 and, in a second case, scrap rules that label some planes as climate-friendly investments. In a case before the Court …

UK Broker Clear Group Acquires R T Waters Ltd.

Clear Group, the London-based independent insurance broker, announced it has acquired the share capital of UK-based R T Waters Ltd. Financial details of the deal were not disclosed. This latest deal adds to Clear’s presence in South East England as …

Storm Warnings Issued Across Southern Europe – From Italy to Serbia

Thunderstorm alerts are in place for a swath of Europe from the south of France to the Balkans. There are orange warnings for Lombardy, Piedmont, Tuscany and Umbria in Italy, as the summer heat gives way to violent storms. Serbia …

South Korea to Advance EV Battery Certification Scheme After Series of Fires

South Korea’s government and ruling party have agreed to move up an electric vehicle battery certification program, the party said on Sunday, as authorities seek to alleviate public safety concerns after a series of fires involving EVs. The government will …

Aviation Regulators Press for Global Action to Reduce Injuries From Turbulence

Aviation officials from Asia are making a case for global action to reduce injuries from turbulence, with recent high-profile incidents driving calls to improve forecasting across borders at a Montreal gathering of regulators starting Monday. While turbulence does not frequently …

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