Global Economy
Reinsurance Broker Acrisure Re Partners With Kovrr on New London-Based Cyber Division
Reinsurance broker Acrisure Re has launched a London-based cyber division in partnership with cyber risk modeler Kovrr. Headed by Cyber Practice Leader Tom Quy, the new division will offer the market ...
VW Discloses Vendor Data Breach Affected 3.3 Million People in North America
Volkswagen AG's U.S. unit said a data breach at a vendor impacted more than 3.3 million customers and prospective buyers in North America. Nearly all those impacted were current or potential ...
U.S. Insurers Slammed in May by Hail, Tornado, Wind and Floods
Many U.S. insurers face a multi-billion-dollar payout from May's convective storms, which spawned extensive hail, tornado, wind and flood damage across a series of separate events during the month, ...
Denmark’s Central Bank Warns Floods Threaten Country’s Financial System
Denmark's central bank warned rising waters pose a threat to the financial system as property used as collateral against bank loans may be worthless in coming years, amid increasing damage by climate ...
Swedish Activist Investor Buys Big Stake in UK Insurer Aviva
Swedish activist investor Cevian Capital AB has bought almost 5% of Aviva Plc, placing it among the insurer's top three holders. Christer Gardell, managing partner at Cevian, said the Stockholm-based ...
D&O Liability Cover Will Help Address VW’s $351M Emissions Settlement With Former Execs
Volkswagen said on Wednesday it had agreed to settle claims against four former executives, including long-time CEO Martin Winterkorn, that will see the carmaker receive 288 million euros ($351 ...
Insurers Could Spend $20B to Implement New International Financial Reporting Standard: WTW Survey
Global insurers face a hefty price tag to implement a new international financial reporting standard, according to a new Willis Towers Watson survey. The global insurance industry will spend between ...
Climate Stress Test for Insurers and Banks Debuts at Bank of England
The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine ...