New London-Based Specialty Reinsurer, Stability Re, Launched July 24, 2024 The Connect Group announced the launch of a London-based specialty reinsurer, Stability Re. This follows the formation in September 2023...
Fortune 500’s Insured Losses for CrowdStrike Could Reach $1 Billion: Parametrix July 24, 2024 The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19...
Global Q2 Commercial Insurance Rates Remain Flat, Ending 7 Years of Price Hikes: Marsh July 24, 2024 Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024),...
Canadian Wildfires Threaten Oil Output, Prompt Evacuations July 24, 2024 By Robert Tuttle Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of...
Deadly Typhoon Gaemi Floods Philippines, Shuts Taiwan July 24, 2024 By Sing Yee Ong, Cindy Wang and Manolo Serapio Jr. Typhoon Gaemi claimed the lives of at least four people and forced the evacuation of hundreds of thousands in the...
People Moves: AXA’s Rodriguez Forero Named CEO of Newly Formed DUAL LatAm July 23, 2024 DUAL Group announced the appointment of Marilena Rodriguez Forero as CEO for the newly established region, DUAL Latin America, effective...
Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions July 23, 2024 By Alex Longley Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if...
MGU Carbon Underwriting Gets Initial Lloyd’s Approval to Launch New Syndicate July 23, 2024 Carbon Underwriting Ltd., the London-based managing general underwriter and Lloyd’s syndicate CBN 4747, announced that Lloyd’s has granted in principle...
UK Water Companies Lambasted by Environment Agency for Sewage Releases July 23, 2024 By Sarah Young Britain’s Environment Agency on Tuesday lambasted the country’s water companies for spewing sewage into rivers and seas, saying the majority...
World Records Hottest Day While Wildfires Threaten Mediterranean July 23, 2024 By Eamon Akil Farhat and Paul Tugwell The world recorded its hottest ever day, as many parts of the Mediterranean face extreme wildfire risks. Sunday witnessed the...