International News

Business News: Chubb, Progressive, Travelers

Chubb Launches Dedicated Multi-line Practice Focused on Large Transportation Clients in North America Chubb launched a multi-line industry practice within its Major Accounts division, dedicated to providing innovative insurance products, industry-leading service and risk management solutions for best-in-class large risk …

Allianz: Cyber Security, Regulation and Cost Cutting Impact Global Shipping Losses

Large shipping losses have declined by 50 percent over the past decade, mostly driven by the development of a more robust safety environment by ship owners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping …

Severe Storms Dominate First Half of 2017, Cause $41B in Large Losses

A series of hailstorms and tornadoes in the U.S. dominated the natural catastrophe statistics in the first half of 2017, according to Munich RE. A total of six severe, large-scale thunderstorms were recorded, each causing billions of dollars of losses. …

UK Plans to Tighten Drone Rules After Near-Misses With Planes

British officials announced plans Saturday to further regulate drone use in a bid to prevent accidents and threats to commercial aviation. The new rules will require drones that weigh eight ounces (226.79 grams) or more to be registered and users …

Lloyd’s: Global Cyber Attack Could Cost $121.4B

A global cyber attack could result in damages of as much as $121.4 billion in an extreme event, comparable to economic losses caused by Hurricane Katrina in 2005, Lloyd’s of London said in a report. Average losses from a scenario …

Study: Hackers Could Use Brainwaves to Steal Passwords

Researchers at the University of Alabama at Birmingham suggest that brainwave-sensing headsets, also known as EEG or electroencephalograph headsets, need better security after a study reveals hackers could guess a user’s passwords by monitoring their brainwaves. EEG headsets are advertised …

People News: Marsh, PDC, AIG

Marsh Appoints Durvasula Chief Digital Officer, Chief Data Analytics Officer Marsh announced the appointment of Sastry Durvasula to the newly created role of chief digital officer and chief data & analytics officer, effective August 14, 2017. He will be based …

Business News: Assurant, ISO, CoreLogic

Assurant Announces $1.36 Billion 2017 Property Catastrophe Reinsurance Program Assurant, Inc., a global provider of risk management solutions, announced it has finalized a $1.36 billion property catastrophe reinsurance program, reducing the company’s financial exposure and enhancing its ability to protect …

Takata Adding 2.7M Cars to Airbag Inflator Recall

Takata is adding 2.7 million vehicles from Ford, Nissan and Mazda to the long list of those being recalled to replace potentially dangerous airbag inflators. The inflators are a new type that previously was thought to be safe. Vehicles affected …

UK Report Suggests New Definition of Worker in Age of Gig Economy

In the contentious matter of whether gig economy workers are the employees of the platforms they work from, positions are often extreme. Uber presents its drivers as independent contractors who value the flexibility of their working arrangements above all else. …

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