Global Economy
Higher Cargo Insurance Rates, New Risks Aplenty With COVID Vaccine Rollout
Speedy global delivery of COVID-19 vaccines by air and sea in ultra cold conditions will lead to a jump in cargo insurance rates and spur demand for new areas of coverage, leaving underwriters on ...
Cyber Insurers Reduce Scope of Offerings as Ransomware Attacks Climb
Ransomware attacks increased in terms of both severity and costs this year, forcing insurers to become more selective and even scale back on the cover they offer against cyber crimes, a report from a ...
EU Regulator Seeks More Hands-On Approach to Insurer Capital
The European Union's capital rules for insurers need changing to reflect low interest rates and provide stronger intervention powers like banning dividends to preserve solvency during market shocks, ...
Generali Embraces the Cloud in Accenture Joint Venture
Generali Group formed a joint venture with technology consultancy Accenture that's designed to accelerate its migration to the cloud in an ongoing innovation and digitization plan. Generali said it ...
Alleged Chinese Hackers Stole Security Footage From African Union Gathering
As diplomats gathered at the African Union's headquarters earlier this year to prepare for its annual leaders' summit, employees of the international organization made a disturbing discovery. Someone ...
Former Argo CEO Watson Pays $450K to SEC Over Failure to Disclose $5.3M in Perks
The Securities and Exchange Commission has settled with former Argo Group chief executive officer and president Mark Watson III over his role in the firm's failure to disclose more than $5.3 million ...
Aon’s Proposed $30B Willis Towers Watson Acquisition Reportedly Faces EU Probe
Aon's $30 billion bid for Willis Towers to create the world's largest insurance broker faces a full-scale investigation because of its complexity, two people familiar with the matter said. The ...
Lloyd’s, InsurTech Parsyl Will Cover Emerging Market COVID-19 Vaccine Distribution
Lloyd's of London and insurtech firm Parsyl have launched a program to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical ...