July 24, 2024
BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion-pound claim over one of Brazil’s worst environmental disasters, London’s High Court ruled on Tuesday. More than 720,000 Brazilians, including around 50 municipalities, are …
July 24, 2024
The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023 of Stability Risk, an MGA created to allow Connect Underwriting Ltd. (a specialist reinsurance MGA) to focus on its core …
July 24, 2024
The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies …
July 24, 2024
Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time in nearly seven years – since the …
July 24, 2024
Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather has contributed to a wildfire …
July 24, 2024
Typhoon Gaemi claimed the lives of at least four people and forced the evacuation of hundreds of thousands in the Philippines, where parts of Manila are flooded even as the storm moves towards Taiwan. Packing sustained winds of up to …
July 23, 2024
DUAL Group announced the appointment of Marilena Rodriguez Forero as CEO for the newly established region, DUAL Latin America, effective Aug. 1, 2024. Rodriguez Forero will be a member of DUAL’s Group Executive Committee, reporting to Richard Clapham, CEO, DUAL …
July 23, 2024
Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …
July 23, 2024
Carbon Underwriting Ltd., the London-based managing general underwriter and Lloyd’s syndicate CBN 4747, announced that Lloyd’s has granted in principle approval for the launch of Syndicate 5757, effective Jan. 1, 2025. This marks a significant milestone for the company as …
July 23, 2024
Britain’s Environment Agency on Tuesday lambasted the country’s water companies for spewing sewage into rivers and seas, saying the majority of them were failing to get the basics right, as it outlined plans for a tougher regulatory approach. Years of …