A shadow-fleet oil tanker that crashed in Denmark’s vital straits produced a set of insurance documents that weren’t valid, a stark example of how there’s little clarity about who would pay the bill if such a ship had a major …
Marsh, the insurance brokerage business of Marsh McLennan, announced an additional $25 million layer of capacity to its existing $100 million Cyber ECHO facility. Available to Marsh clients globally, Cyber ECHO now offers up to $125 million of excess cyber …
New Zealanders who own properties in areas prone to flooding or earthquakes may find they can’t afford insurance or may not be offered cover for specific risks, according to the Reserve Bank. Rising premiums or the inability to insure are …
With cloud seeding, it may rain, but it doesn’t really pour or flood — at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said. Cloud seeding, although decades old, is still controversial in the weather …
French President Emmanuel Macron called on Thursday for a revision of how Europe applies minimum capital rules to banks and insurers so that they are not too risk-averse and Europe is put at an economic disadvantage. The Basel Committee of …
A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured …
Russia’s state-owned reinsurer has given financial backing to three Russian insurance firms, allowing them to get Indian approval to provide marine insurance cover to tankers, two sources said, as Moscow seeks to facilitate trade with India amid Western sanctions. A …
The world’s forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators …
Aon plc said late Thursday that it has completed its $13 billion acquisition of middle-market P/C broker NFP. The purchase price will be funded by $7 billion in cash and $6 billion of Aon stock. Closing was earlier than originally …
A global insurance coalition intended to help curb the sector’s greenhouse gas emissions has relaunched with a new name and weaker membership requirements in response to companies fleeing over allegations of collusion by Republican politicians in the United States. The …
