Britain’s regulators can be slow, inefficient and unpredictable, raising costs and slowly damaging the financial sector’s global competitiveness, industry body TheCityUK said in a report. Complex, opaque and slow authorizations, such as for a new chief executive or a new …
Two new scientific review articles by international teams of researchers paint a bleak picture of the state of the Amazon rainforest: The critical ecosystem is being damaged at an unprecedented pace, they warn, which may usher in “a qualitatively different …
More than 30,000 British companies went bust last year, with accountants warning of a “double whammy” to come in April that could trigger another wave of insolvencies. Big businesses were the worst hit, according to a report published Thursday by …
Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon. Roughly 42% of economic losses were covered by public and private insurance entities, which translates into …
Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they’ll continue to sit on the market sidelines, a market executive said recently. During an AM Best Reinsurance Briefing, Aditya Dutt, president of Aeolus …
When an AM Best analyst said, “Apparently, things didn’t go that bad” to describe 1/1 reinsurance renewals, he wasn’t actually saying anything unique. Carlos Wong-Fupuy, a senior director for AM Best, who spoke during an online briefing on Monday, referred …
Working from home is saving commuters around the world 72 minutes a day, time they’re splitting between their jobs, leisure and caregiving, a new study shows. Remote staff are saving the most time in China, where forgoing the trek to …
Repeating words like “frustrated” and “disappointed,” which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers’ reactions, Aon suggested that the tough times aren’t over in a new report. Offering a key takeaway from …
Cyber incidents and business interruption rank as the biggest company concerns for the second year in a row, according to Allianz’s Risk Barometer 2023. At the same time, macroeconomic developments such as inflation, financial market volatility and a looming recession, …
Illicit use of cryptocurrencies hit a record $20.1 billion last year as transactions involving companies targeted by U.S. sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday. The cryptocurrency market floundered in 2022, as risk appetite diminished and …
