A large Chinese military drone has conducted regular flights over the South China Sea in recent months while transmitting false transponder signals that made it appear to be other aircraft, including a sanctioned Belarusian cargo plane and a British Typhoon fighter jet. Military attaches and security analysts scrutinizing the operations say the flights represent a step-change in China’s grey-zone tactics in the contested South China Sea and appear to be testing possible decoy capabilities in the event of a Chinese invasion of Taiwan. Since August, at least 23 flights have been logged under the call sign YILO4200, a known long-endurance…
Author: Awais
Britain’s ultimate backstop against flood-related losses is planning to rely more on the capital markets, after its first ever catastrophe bond drew a lot of interest from specialist investors including hedge fund Fermat Capital Management. Flood Re, a state-backed insurance program, now plans to “layer up” on cat bonds, said Chief Executive Officer Perry Thomas. The goal is to create a pipeline of bonds that would follow a model used by Pool Re, the UK’s terrorism reinsurance program, he said. Flood Re’s £140 million ($190 million) cat bond, sold last March, reflects the program’s efforts to tap new sources of…
Since launching in 2023, Bishop Street has assembled a portfolio of specialty underwriting businesses through acquisition, including Avid Insurance, Landmark Underwriting, Conifer Insurance Services, Aerospace Insurance Managers, and Verve Services, spanning lines from construction and aviation to transactional liability and specialty auto.
Labcorp’s pathologists will use the software to review, interpret and manage digital images of slides for primary diagnosis.
The insurance-linked securities (ILS) market has entered 2026 with significant momentum, driven by an unprecedented surge in catastrophe bond issuance and strong global demand for protection. SCOR Investment Partners believes this robust primary activity will play a critical role in sustaining current spread levels across the market throughout the year.In its most recent market insights report, SCOR Investment Partners, the specialist asset management arm of the French reinsurance firm, noted that as the industry moved into 2026, the pace of cat bond issuance has already accelerated sharply. “January alone brought close to USD 3 billion in new transactions across 9…
Walmart Inc. agreed to pay $100 million Thursday to settle a lawsuit by the US Federal Trade Commission and a group of states alleging the company withheld tips and misrepresented wages to drivers who deliver orders as part of its Spark program. In a complaint filed in California federal court, the consumer protection agency said the company misled drivers about how it calculated their base pay, tips and special “incentive” earnings opportunities. The company also didn’t tell customers that tips wouldn’t be fully paid to the person who made their delivery, the lawsuit alleges. Eleven states including Arizona, California and…
Sweden has told its energy industry to raise security levels following a recent cyberattack on Polish infrastructure, although this was not in response to a specific threat, the Nordic country’s signal intelligence agency said on Thursday. Swedish TV4, citing unnamed sources, earlier reported that authorities in the Nordic nations were investigating a threat to the region’s energy providers from actors with likely links to a foreign power. “We have recently been calling on the actors in the Swedish energy sector to be more vigilant,” Ola Billger, head of communication at Sweden’s National Defence Radio Establishment (FRA), told Reuters. “We did…
Heavy rains that began Monday night have left dozens dead and caused widespread destruction in southeastern Brazil, exposing a longstanding structural problem of housing in high-risk areas vulnerable to seasonal downpours. Storms in the state of Minas Gerais caused rivers to overflow, destroying bridges and roads, flooding various areas, and displacing nearly 2,600 people. At least 54 have died and 14 remain missing in the cities of Juiz de Fora and Ubá, according to the latest bulletin from the state’s Fire Department. As of Thursday morning, 238 people had been rescued. In both cities, residents and business owners are trying…
Treasury departments in global companies are struggling to adopt artificial intelligence tools, according to a Crisil Coalition Greenwich survey, underscoring how slowly the technology is penetrating a critical function in corporate finance. Crisil’s survey of 100-plus firms from the US, Europe and Asia found fewer than 10% of treasury teams use AI for core functions like financial forecasting and fraud detection. Half haven’t started using AI at all, even as global companies ramp up spending on the technology, according to a February report. That’s due largely to a lack of in-house expertise and messy underlying data, according to the financial…
Amazon on Thursday lost its latest bid to try to throw out two mass lawsuits from retailers and consumers worth up to 4 billion pounds ($5.41 billion) for allegedly abusing its dominant position. Andreas Stephan, a competition law academic, brought one of the cases on behalf of over 200,000 third-party retailers, worth up to 2.7 billion pounds. His lawyers allege that Amazon manipulates the “Buy Box” feature on its website to its own advantage and favors products that use Amazon’s own logistics centers and delivery network. Read more: Amazon Faces UK Lawsuits Worth Up to $5.4 Billion From Retailers, Consumers…
Ford Motor Thursday it is recalling 4.3 million pickup trucks and SUVs in the U.S. because a software error may cause trailer brakes not to function and exterior lights to fail. The U.S. automaker said the recall covers the 2021 through 2026 F-150, 2022-2026 F-250 SD, Lincoln Navigator, Expedition, Maverick along with some Ranger and E-Transit vehicles. When towing a trailer, the Integrated Trailer Module may lose communication with the vehicle, potentially causing a loss of brake and turn signal lights, or a loss of brake function. Ford will address the issue with an over-the-air software update. The National Highway…
“We are pleased to welcome Lewis Insurance to the King family,” said Scott Popilek, CEO of King Risk Partners. “Their longstanding reputation, industry experience, and commitment to client relationships align closely with the values that guide our organization. This addition strengthens our presence in Georgia and supports our ability to provide locally focused service, supported by the added resources and capabilities of King Risk Partners.”
Texas said Vanguard Group Inc. agreed to pay a total of $29.5 million to settle a lawsuit brought by a dozen states that accused the asset manager of colluding to manipulate the energy market and reduce coal output. As part of the deal, Vanguard also will “avoid imposing ESG goals over its customers’ profitability,” according to a statement by Texas Attorney General Ken Paxton’s Office. A court filing Thursday showed Vanguard was dismissed as a defendant in the lawsuit. Vanguard said in a statement that the decision to settle “allows us to put this distraction behind us and focus on…
“We are pleased to welcome Lewis Insurance to the King family,” said Scott Popilek, CEO of King Risk Partners. “Their longstanding reputation, industry experience, and commitment to client relationships align closely with the values that guide our organization. This addition strengthens our presence in Georgia and supports our ability to provide locally focused service, supported by the added resources and capabilities of King Risk Partners.”