INSURANCE NEWS
Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics
Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the …
Labour Win Brings Few Hopes or Fears to London’s Financial District
Labour’s landslide election win shows few signs of unsettling London’s financial heartland after the party’s lengthy pro-business overtures, though many in finance remain wary they could be targeted to prop up Britain’s stretched public finances further down the line. Under …
Houthi Threat Triggers Surge in Pirate Attacks Off Somalia Coast
Attacks by Iran-backed Houthi militants on the Red Sea have reinvigorated piracy networks in Somalia, with criminal groups growing in both number and force, a European naval commander said. The Yemen-based Houthis began attacking vessels in the Red Sea last …
Abandoned Tanker Lavant Has Likely Sunk Off Yemen, Sources Say
An abandoned tanker that was drifting off Yemen’s coast in June has disappeared and is believed to have sunk, three navy and security sources said, the latest vessel lost in the strategically important Red Sea. The area, on the main …
Switzerland, EU Restart Financial Market Talks After Long Hiatus
Switzerland and the European Union resumed talks on financial market regulation on Thursday after dialog was suspended in 2017, the Swiss government said. Issues relating to financial market stability, cross-border activities, capital markets, digital finance, cybersecurity, sustainable finance and insurance …
Banks to Publish Crypto Asset Exposure From 2026, Global Regulators Say
Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday [July 3], a year later than originally indicated. “These disclosures aim to enhance information availability and support market …
Beryl Barrels Toward Mexico’s Yucatan With Hurricane Winds
Hurricane Beryl is barreling toward Mexico’s Yucatan Peninsula as local authorities move to evacuate residents from communities along the storm’s path ahead of an expected landfall early Friday morning. Beryl is about 90 miles (145 kilometers) east-southeast of Tulum, Mexico, …
Zimbabwe Gets $32 Million in Drought Insurance From Agency of African Union
Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the devastation the country suffered from an El Niño-induced drought. Finance Minister Mthuli Ncube told reporters on Thursday in …
As AI Gains Workplace Foothold, States Try to Make Sure Workers Aren’t Left Behind
With many jobs expected to eventually rely on generative artificial intelligence, states are trying to help workers beef up their tech skills before they become outdated and get outfoxed by machines that are becoming increasingly smarter. Connecticut is working to …
New-Vehicle Sales Growth Slows After CDK Cyberattack
Top U.S. automakers posted slower sales growth for the second quarter as a cyberattack at software systems provider CDK hit operations at several dealerships during the crucial selling period of late June. General Motors reported a 0.6% rise in new-vehicle …
Gallagher Buys NetClaim, a Claims Management Firm, from NAVEX
Arthur J. Gallagher & Co., the global insurance brokerage and consulting firm, said its claims and risk-management subsidiary, Gallagher Bassett, has acquired Georgia-based NetClaim from NAVEX. NetClaim, in Norcross, Georgia, provides first-notice-of-loss and first reports of injury for clients, including …
PointeNorth Keeps Growing with Acquisitions in the Southeast
PointeNorth Insurance Group, a large agency in the Southeast, has acquired Valdosta Insurance Services and Southern Insurance Advisors, both based in Georgia. PointeNorth said in a statement that it provides growth opportunities for agencies, as well as a perpetuation strategy …