Malaysia’s financial services firm MBSB Bhd will provide MYR1.3 billion ($309 million) in funding to support the expansion of Weststar Aviation Services Sdn Bhd, the aviation arm of The Weststar Group, the Edge newspaper reported Friday, citing a statement. The …
India’s government has begun early-stage talks with local insurers about designing a nationwide climate-linked insurance program aimed at simplifying the payout process after extreme weather events such as heatwaves and floods. The scheme would adopt a parametric insurance model, where …
Russian warships have repeatedly sailed on collision courses, aimed weapons at Danish naval vessels and disrupted navigation systems in Denmark’s straits that connect the Baltic Sea to the North Sea, its defense intelligence service said on Friday. Such incidents risk …
Chaucer Group, the global specialty re/insurance group, announced the launch of Vanguard, a comprehensive cyber risk management and insurance solution designed to protect organizations in the face of an evolving threat landscape. This new primary business policy focuses on complex …
Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow, after the state adopted new legislation designed to stifle such bets. Under the law, approved last month by California Governor Gavin Newsom, alternative investment managers …
Global Indemnity Group LLC (GBLI) announced that its subsidiary, Penn-America Underwriters LLC, is launching its first reinsurance managing general agency (MGA), in partnership with veteran reinsurance executive George Dragonetti, who will also serve as president of the new unit. Penn-AmericaUnderwriters …
Intact Financial Corp. (IFC) announced the official rebranding of RSA and NIG to Intact Insurance across the UK, Ireland and Europe. This move marks a significant milestone in the company’s journey which is now united under a single brand, reflecting …
The massive power outage that hit the Iberian Peninsula in April is the first known blackout caused by excessive voltage, the European network of electricity transmission system operators said in a report on Friday [October 3] . Released ahead of …
More than a year after he was charged, a Georgia businessman known as “Dr. Taxes” has been indicted for posing as an insurance agent and swiping hundreds of thousands of dollars in workers’ compensation premiums. Emmanual Torres-Cruz, 35, was indicted …
Illinois sued the Trump administration over its plan to deploy National Guard troops to the Chicago area, setting off a fresh legal battle over the president’s authority to use soldiers to respond to protests over his immigration crackdown. The lawsuit …