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Insurance Australia Group Settles $2B Credit Suisse Lawsuit Over Greensill Collapse
Insurance Australia Group (IAG) said on Friday it had agreed to settle an A$2.8 billion ($1.96 billion) Credit Suisse lawsuit over losses linked to the collapse of finance firm Greensill Capital. Here are some key details: The insurer did not …
POSTED SEPTEMBER 25, 2026 9:05 AM |
People Moves: Garcia Joins InsurBanc as President and CEO
InsurBanc, headquartered in Farmington, Connecticut, named Lou Garcia as president and CEO. Garcia brings more than 25 years of leadership experience in investment banking, alternative asset management and financial services to his new role at InsurBanc. He will be responsible …
POSTED SEPTEMBER 25, 2026 5:50 AM |
Markets/Coverages: Beazley Expands Cyber Protection for AI; Huntersure Launches Media E&O
Beazley announced new cyber cover to support businesses manage the risks arising from their own use of AI. Beazley’s latest endorsements respond to risks that can emerge when businesses deploy AI within their own operations. An industry-first AI Voluntary Shutdown …
POSTED SEPTEMBER 25, 2026 5:50 AM |
Here Are Some AI Doomsday Scenarios Researchers Say Could Put Humanity at Risk
For years, artificial intelligence researchers have warned of ways the technology could wipe out humanity: AI bots could design an unstoppable disease, unleash a nuclear war, or transform all of Earth into paper clip factories, as one thought experiment goes. …
POSTED SEPTEMBER 25, 2026 5:30 AM |
Singapore’s Finance Firms to Train 80,000 Staff in AI Skills
Singapore’s major financial institutions pledged to train more than 80,000 local employees in AI skills as the country moves to cushion white-collar workers from potential job disruption. A pioneer batch of 23 banks, insurers and asset managers has committed to …
POSTED SEPTEMBER 25, 2026 5:10 AM |
Cybersecurity Stocks Are So Hot Investors Question Staying Power
Shares of cybersecurity companies have soared in recent months on bets that the threats posed by cutting-edge AI models will be a boon for their businesses. But some of the stocks have run up so much that investors are questioning …
POSTED SEPTEMBER 25, 2026 5:08 AM |
Catastrophe-Bondholders Bet Hurricane Polo Won’t Trigger Losses
Investors in a catastrophe bond targeting Mexico are betting they’ll be spared losses as Hurricane Polo looks set to avoid landfall as a dangerously destructive storm. “I’d never say never,” said Florian Steiger, chief executive of Zurich-based cat-bond manager Icosa …
POSTED SEPTEMBER 25, 2026 5:05 AM |
Saudi Oil Export Strategy Hits New Hurdle as Red Sea Insurance Costs Soar
The cost of insuring an oil tanker loaded from Saudi Arabia’s main Red Sea port has tripled in recent weeks, industry sources told Reuters, adding to the major crude producer’s struggles to find a viable channel for its exports. Saudi …
POSTED SEPTEMBER 25, 2026 5:02 AM |
Insurance Regulators Defend State-Led Model in Reply to Warren
The National Association of Insurance Commissioners defended its supervision of Wall Street’s influence over insurers and their bets on private credit, as the group seeks to dispel US Senator Elizabeth Warren’s doubts about potential regulatory gaps. In a letter Thursday …
POSTED SEPTEMBER 25, 2026 5:01 AM |
Southern California Edison Pushing for Wildfire Liability Deal Before Lawmakers Depart
Electric utility Southern California Edison is urging California lawmakers to hold a special session before year-end to consider limiting utilities’ exposure to future wildfire liabilities, CEO of parent company Edison International EIX.N Pedro Pizarro said this week. Electric utility infrastructure …
POSTED SEPTEMBER 25, 2026 5:00 AM |
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