Marsh, the insurance broker and Marsh McLennan subsidiary, announced the launch of a first of its kind $50 million port blockage insurance facility, covering shipping ports and terminals around the world. Created by Marsh following the collapse of the Francis …
Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster. The move …
Taiwan’s CTBC Financial Holding Co. said it plans to buy smaller rival Shin Kong Financial Holding Co., a move that could form the island’s largest financial conglomerate. Amid speculation swirling of a takeover, the Taipei-based firm announced it will file …
Thunderstorms are forecast across the Mediterranean from Corfu to Sicily, where a luxury yacht sank off the coast on Monday after being struck by a waterspout, a form of tornado. Orange storms alerts are in place for a swath of …
Morgan Stanley International chairman Jonathan Bloomer is among those missing, along with UK tech entrepreneur Mike Lynch, as Italian authorities continue to search the wreckage of the luxury yacht that sank during a storm off the coast of Sicily. Specialist …
Las Vegas set a heat record of 117 degrees Fahrenheit (47.2C) in 1942, and for 82 years no weather system could budge it. Thermometers registered the same temperature four more times, all since 2005, without setting a new high. Then …
Ardonagh Advisory, Ardonagh Group’s SME broking platform, has agreed to acquire UK chartered insurance broker R.K. Henshall & Co. Ltd. Financial details of the transaction, which is subject to regulatory approval, were not disclosed. Established in 1976, R.K. Henshall & …
To achieve net-zero emissions, where emissions and removals of greenhouse gas pollution balance each other out, governments and corporations must do two things: cut emissions as much as possible and remove any residual pollution from the atmosphere. To gauge the …
Senior figures in the insurance industry are calling on the UK to restart work on a potential new market worth billions of pounds as part of a drive to boost competitiveness. Executives have written to Chancellor Rachel Reeves calling for …
Europe is spending tens of billions of euros a year to fight wildfires, yet it hasn’t stopped blazes from flaring up across Greece and other parts of the continent this summer. This week fires on the outskirts of Athens engulfed …
