Hackers used malware to penetrate the defenses of a Russian regional bank and move the ruble-dollar rate more than 15 percent in minutes, according to a Moscow-based cyber-security firm hired to investigate the attack. Russian-language hackers deployed a virus known …
World Cup insurers are likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments because of fraud, industry experts said. Russia and Qatar could be stripped of their World …
Russia will suffer the economic and political fallout of the Ukraine crisis for years to come, according to Euler Hermes Group, the world’s biggest trade credit insurer. Euler Hermes expects Russia’s economy to contract 5.5 percent this year and 4 …
Heightened geopolitical tensions spilling over from the Russia-Ukraine crisis, high interest and inflation rates, and low commodity prices are placing pressure on Russia’s economy and its insurance industry’s prospective growth, according to an A.M. Best special report. A.M. Best believes …
Assicurazioni Generali SpA said it has reached most of its targets ahead of schedule after shedding non-core assets around the world and will present a new strategy in May. “The next plan will be quite different because it will not …
The ACE Group announced that it has established a new business region, Eurasia & Africa, as part of its Overseas General division – the general insurance operations of the company outside North America. Regional headquarters is to be based initially …
Global standards development organization ACORD announced that a coalition of major Russian insurers, including subsidiaries of Allianz and Zurich, have agreed to work together to implement its standards. “When completed, this will become the first documented ACORD implementation in the …
A note from Willis Group Holdings features comments from Ann Longmore, Executive Vice President of Willis’ Executive Risks practice, who analyzes the impact(s) of Russia’s accession to the World Trade Organization as its 156th member earlier this month. “We expect …
U.S. agricultural, aircraft and other exports to Russia could suffer unless Congress passes legislation soon recognizing the former Cold War enemy is now a fellow member of the World Trade Organization, trade experts and business groups said. After 18 years …
Time is running out for Congress to approve a Russia trade bill before Moscow formally enters the World Trade Organization in August, potentially putting U.S. exporters at a huge disadvantage, a senior Republican lawmaker said. Representative Kevin Brady said House …
