An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they need. “The delta between liability loss-cost trend …
Hundreds of UK banks, brokers and insurers missed a deadline to respond to the financial watchdog’s survey on sexual harassment and bullying in the City, suggesting that firms are struggling to grasp the scale of the problem. In February, the …
Urgent action must be taken in the Red Sea to stop attacks on merchant shipping by Yemen’s Houthis, leading industry groups said on Wednesday, after the sinking of a second ship. Iran-aligned Houthi militants first launched drone and missile strikes …
Singapore’s banking sector, including wealth management, poses the highest money laundering risk in the city-state, the government said in a money laundering risk assessment report published on Thursday. Banks had higher exposure to money laundering threats and could be more …
Tropical Storm Alberto is strengthening as the system neared the Gulf coast of Mexico, and is expected to dump heavy rain across the northeast of the country and into southern Texas. The center of Alberto is expected to reach the …
The number of companies saying they have a climate transition plan in line with the world’s most ambitious goal has jumped by nearly half, but many do not give investors enough information to check the claims, according to non-profit data …
The sinking of a coal-carrier by a sea drone has boosted the risk of navigating the vital Bab el-Mandeb chokepoint to a new level and is driving a fresh surge in insurance costs. The British navy said Tuesday that the …
Estimated insured losses from flooding, which hit Southern Germany on May 15-June 5, will range from €2.4 billion (US$2.6 billion) to €3.6 billion (US$3.9 billion), according to Verisk, the data analytics and technology firm. Moody’s RMS recently estimated insured losses …
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and hail events mostly …
The 911 system across Massachusetts was restored Tuesday after going down for several hours, which made it impossible for anyone to reach emergency services through the call number. The Massachusetts State Police announced around 3:45 p.m. that the system had …