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The Secretive World of Russian Oil Tanker Insurance Revealed One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. The answer is that while some are still covered by the …
POSTED OCTOBER 22, 2024 10:51 AM |
US Watching Dark Fleet Ship-to-Ship Oil Transfers in Asia Waters The US is paying close attention to the “dark fleet” of tankers carrying restricted oil and doing ship-to-ship transfers in Southeast Asian waters, the State Department’s top energy official said. Countries in the region need to consider the risks these …
POSTED OCTOBER 22, 2024 10:04 AM |
Allianz Mulls Ending Decades-Old Bajaj Insurance India JVs Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter. Allianz plans to exit Bajaj Allianz Life Insurance Co. …
POSTED OCTOBER 22, 2024 9:59 AM |
‘G-Shock’ Watchmaker Casio Delays Earnings Release Due to Ransomware Attack Japanese watchmaker Casio Computer said on Tuesday it will delay the release of its second-quarter earnings due to the impact of a ransomware attack on its accounting process, to mid-November from Nov. 6. Casio, known for its “G-Shock” series of …
POSTED OCTOBER 22, 2024 8:06 AM |
Another Satellite Breakup Adds to Rising Problem of Space Junk A large communications satellite has broken up in orbit, affecting users in Europe, Central Africa, the Middle East, Asia and Australia, and adding to the growing swarm of space junk clouding our planet’s neighborhood. The Intelsat 33e satellite provided broadband …
POSTED OCTOBER 22, 2024 7:50 AM |
Natural Disasters Cost China $13 Billion in January-June Natural disasters such as flooding, drought and extreme temperatures cost China 93.16 billion yuan ($12.83 billion) in the first half of this year, with almost 33 million people affected, the government said on Friday. Heavy snow, 22 strong earthquakes including …
POSTED OCTOBER 22, 2024 7:08 AM |
SEC to Increase Scrutiny of AI Tools Used by Financial Brokers, Advisers The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. Investment advisers, brokers, clearing agencies and others can expect …
POSTED OCTOBER 22, 2024 5:15 AM |
State Residual Markets See Policy Count Double in 5 Years: AM Best State-sponsored residual property markets have seen in influx of risks come in since 2018, with some states growing by more than 200%. According to insurance industry ratings firm AM Best, the policy counts of personal and commercial property Fair Access …
POSTED OCTOBER 22, 2024 5:07 AM |
W.R. Berkley Posts Record Q3 Net Income Third quarter 2024 net income at W.R. Berkley Corp. increased to about $365.6 million compared to $333.6 million the same period the prior year on underwriting and investments. Net income was a record for the third quarter, the company said. …
POSTED OCTOBER 22, 2024 5:04 AM |
Centerbridge-Backed Lab Under Pressure After Chemical Fire Weeks after a chemical warehouse fire in Rockdale County, Georgia, released plumes of toxic smoke, nearby residents can now leave their homes at night after officials lifted a shelter in place order. For the lab’s owner and investors, the trouble …
POSTED OCTOBER 22, 2024 5:02 AM |
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