Global Economy
G20 Companies Will Face Common Disclosure Requirements on Climate Change Risks
G20 companies will face common disclosure requirements on climate change risks under plans by the Financial Stability Board, which coordinates financial rules for the group. In the latest sign of how ...
EU Institutions Struck by Major Cyber Attack
A range of European Union institutions including the European Commission were hit by a significant cyber attack last week. A spokesperson for the commission said that a number of EU bodies ...
U.S. Judge Dismisses New York Lawsuit Against WHO Over Pandemic Response
A U.S. judge has dismissed a lawsuit by residents of a suburban New York City county who accused the World Health Organization of gross negligence in responding to the coronavirus pandemic. U.S. ...
COVID-19 Cancels London Market Insurers’ 2020 Profits, but Rates Are Rising
Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of ...
Insurers Wary About Cryptocurrency Craze Even as Tesla Takes the Plunge
If Elon Musk's Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. ...
Zurich Insurance Deepens Climate Change Strategy
Zurich Insurance Group said it will be taking further, deeper steps to help curb carbon emissions in line with the Paris Agreement's goals to limit global warming. Targets will include its own ...
Lloyd’s of London Warns ‘Large Loss’ Is Likely Due to Suez Canal Blockage
The blockage of the Suez Canal for nearly a week will result in a "large loss" for Lloyd's of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 ...
Guy Carpenter Launches Asia Pacific Capital Advisory Group
Guy Carpenter & Co., reinsurance specialist and a unit of Marsh McLennan, announced the launch of its Capital Advisory Group in Asia Pacific, with the appointments of Michael Owen and Hussain ...