A group of 20 mostly Democrat-led U.S. states filed a lawsuit on Wednesday seeking to block the Trump administration from terminating a multibillion-dollar grant program that funds infrastructure upgrades to protect against natural disasters. The lawsuit filed in Boston federal …
Coface, the Paris-based trade credit risk management specialist, announced it has received an “in principle approval” from Lloyd’s to launch a short-term trade credit syndicate. The syndicate – Coface Lloyd’s Syndicate 2546 – is expected to commence underwriting in 2025 …
Collaboration between the public and private sectors, beyond just insurance, is essential to narrowing the so-called protection gap, as losses from natural disasters increase, said the head of a global insurance supervisors’ organization. The protection gap refers to the difference …
This edition of International People Moves details appointments at Guy Carpenter and Moody’s Ratings. A summary of these new hires follows here. Guy Carpenter Promotes Hakes as Global Head of Marine, Energy, and Technical Lines Guy Carpenter, the reinsurance brokerage …
How hot can a heat wave really get? Before June 2021, scientists thought they knew. That’s when one of the most extreme heat spikes ever observed hit western North America, leaving at least 1,400 people dead. Lytton, British Columbia, smashed …
The team of hurricane researchers at Colorado State University shaved off a storm from its original Atlantic hurricane season forecast, and now sees a “slightly” above normal season. High levels of observed Caribbean wind shear, which break up storms, is …
After deadly flooding in central Texas in 1987, some thought they’d proven they could handle Mother Nature’s best punch. Then came this month’s horrific flash floods, when unfathomable amounts of rain fell in only hours and more than 100 people …
The European Commission is expected to propose a floating Russian oil price cap this week as part of a new draft sanctions package in an attempt to overcome opposition from some member states, four EU diplomats said. The Commission proposed …
The cost of insuring commercial ships that sail past Yemen’s Houthi militants surged after the rebels sank two ships and killed sailors this week, underscoring how the attacks have revived risk in the crucial waterway. Shipowners now have to pay …
Insurance broker Aon plc announced the launch of its Data Center Lifecycle Insurance Program (DCLP), a proprietary multi-line insurance facility designed to help clients manage risk across every stage of data center development and operations. As global investment in digital …