The world recorded its hottest ever day, as many parts of the Mediterranean face extreme wildfire risks. Sunday witnessed the highest average temperature on Earth, breaching a previous record set a year ago, according to provisional data from the European …
Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers into infrastructure such as EV charging stations to boost growth. The new Labour government in Britain has said that chunks …
US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, US SCS accounted for a minimum $37 billion – …
This edition of International People Moves details appointments at insurance broker WTW and the re/insurer Everest Group. A summary of these new hires follows here. WTW’s Risk & Broking Unit Names Marsh’s Clarke as President, as Garrard Becomes Chair Insurance …
Somali piracy — the scourge of merchant shipping more than a decade ago — has had a resurgence this year, the industry’s main observer of the crime said. There were eight acts of piracy and hijackings in the first half …
Elements of Friday’s global IT outage, which grounded planes and hit services from banking to healthcare, have occurred before and until more contingencies are built into networks, and organizations put better back-up plans in place, it will happen again. Friday’s …
A collision that set two vessels ablaze off Singapore has underlined the growing risks in the crowded Straits of Malacca, as the dark fleet expands and lackluster Chinese demand leaves dozens of the tankers idling. The Ceres I, a 23-year-old …
Insurer Allianz SE expects to pay German winemakers tens of millions of euros in insurance claims this year after many vineyards lost their entire harvest to heavy frosts. While mild temperatures earlier in the year helped shoots to develop sooner, …
Patchy progress on implementing reforms to make money market funds and other types of “non banks” safer has left the global financial system vulnerable to more shocks, the G20’s risk watchdog said on Monday. The Financial Stability Board said that …
A tanker that fled the scene of a fiery Friday collision off Singapore entered the area of Malaysia’s Bertam floating oil terminal on Monday after being tracked down and intercepted by Malaysian authorities, shipping data from LSEG and Kpler showed. …
