Insurance

U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said on Tuesday. A data sample comprising …

This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), Trans Re and CNA Hardy. A summary of these new hires follows here. BHSI Names AIG’s Bidmead as Head of Transactional Liability, Asia and Middle East …

The third loss estimate for the Kahramanmaras Earthquake Sequence, which hit large parts of south-central Turkey and neighboring Syria on Feb. 6, 2023, has risen to $3.4 billion, according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance …

Investors are becoming more emboldened to file legal challenges against companies for their net zero claims, approaches to governance and other hot-button ESG issues, using a pair of underutilized provisions of a UK law. Standard Chartered Plc, BT Group Plc …

Vale on Monday lost a bid to block fellow mining giant BHP Group’s bid to have it share potential liability in a 36 billion-pound ($46 billion) London lawsuit over Brazil’s worst environmental disaster. More than 720,000 Brazilians are suing BHP, …

Japan cannot confirm if any security information has been leaked, the top government spokesperson said on Tuesday when asked about a Washington Post report on Chinese hacking into its defense cyber networks. Chinese military hackers gained access to a classified …

Japan’s competition watchdog has begun an investigation into whether the top four non-life insurers colluded to set premiums for their corporate clients, according to a person familiar with the matter, becoming the latest regulator to look into the issue. The …

A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were …

According to IBM’s Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3% increase from 2022 and a 15.3% from 2020. The 2023 research, conducted independently …

Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier. The nearly 100-year-old …