More Reforms Needed to Tackle Shadow Banking’s ‘Hidden Leverage’: BoE Regulator July 18, 2024 The booming non-bank financial industry has created excessive leverage that poses financial stability risks, and more reforms are needed to...
Insurance Broker TWFG’s IPO Seeking $187 Million Gets Underway Today July 18, 2024 Shares of Texas-based insurance broker TWFG, Inc. begin trading on the Nasdaq Global Select Market today under the symbol TWFG....
Insured Losses for Floods in Southern Germany Estimated at €1.6B: PERILS July 18, 2024 The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent...
Study Urges Rethinking of Disaster Management in Era of Compounding Events July 18, 2024 By Allen Laman A new report warns that compounding natural disasters introduce new, interconnected, and complex risk scenarios — and points to a...
Preservationists Rush to Save 150-Year-Old Lighthouse From Toppling Into Hudson River July 18, 2024 By Michael Hill HUDSON, N.Y. (AP) — The race is on to keep a 150-year-old lighthouse from crumbling into the Hudson River. Wooden...
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re July 18, 2024 By L.S. Howard Hard market conditions in the global non-life insurance sector will continue this year, but will begin to ease in 2025,...
Detroit-Area County to Pay $7M to Family of Man Killed in Jail for a Misdemeanor July 18, 2024 DETROIT (AP) — A Detroit-area county agreed to a $7 million settlement in the death of a man who was...
UK Lays Out Stronger Cybersecurity Defenses After Attack Crippled NHS Hospitals July 18, 2024 By Mark Bergen The new UK government plans to strengthen the nation’s defenses against cyberattacks, a month after a ransomware hack crippled London...
Islamic Insurance Helps Cover Muslim Farmers Battling Climate Change July 18, 2024 By Betsy Joles On his four and a half acres of land in central Pakistan, Izhar ul-Haq approaches farming as a science. He...
Russian Cybersecurity Firm Kaspersky Labs to Wind Down US Operations July 18, 2024 Kaspersky Labs will gradually wind down its U.S. operations from July 20, the Russian anti-virus software maker said on Monday,...