Banking
Banking industry news and updates
Surge in War Risk Premiums for Saudi-Linked Tankers Amid Houthi Threats
War risk premiums for Saudi tankers have skyrocketed to about 3% due to rising threats in the region, marking a significant shift from previous levels.
Swiss Re Forms Partnership with Bajaj General to Expand Insurance Offerings in India
Swiss Re has partnered with Bajaj General Insurance to deliver treaty coverage and global insurance programs for Indian businesses.
Severe Weather Disrupts Travel in Southern France
Flash floods in southern France are causing significant disruptions, impacting trains, trams, and flights, particularly in Montpellier.
Meta Found Liable for Misleading Users Amid Cambridge Analytica Allegations
A New Mexico jury ruled that Meta misled residents about data privacy practices linked to the Cambridge Analytica scandal, with repercussions upcoming.
Insurers Settle for $177 Million in Buffalo Diocese Abuse Claims
Insurers, led by CNA Financial, will pay $177 million to resolve child abuse claims against the Buffalo Diocese as part of its bankruptcy reorganization.
California Workers' Compensation Benefits Surge Past Major States Combined
In 2023, California's workers' compensation benefits grew 7.1%, surpassing the combined total of New York, Florida, and Washington, pointing to a robust market performance.
Aon Introduces Global Coverage Facility for Onshore Renewable Energy Projects
Aon has launched a global facility aimed at providing coverage for emerging onshore renewable energy projects, with substantial policy limits.
Bridge Specialty Group Appoints Liz White as Chief Commercial Officer
Liz White has been named chief commercial officer at Bridge Specialty Group, focusing on growth and relationships within the wholesale division of Brown & Brown.
Liberty Mutual Appoints Shaun Sinniah to Lead Capital Solutions in Global Risk Division
Shaun Sinniah from Miller joins Liberty Mutual as head of capital solutions, aiming to enhance business opportunities and risk-sharing strategies.
Sedgwick Launches New Practice for Insurers and Captives
Sedgwick introduces a comprehensive practice to support insurers and captives with claims administration and operational services.
Relocation Challenges: How Housing Costs Impact Recruitment Strategies
Rising housing costs are influencing job candidates' willingness to relocate, complicating recruitment for companies seeking talent beyond local markets.
Howden Strengthens Leadership Team with Appointment of Kelsey Cleary
Kelsey Cleary transitions to Howden U.S. as a senior vice president, bringing extensive experience from NFP and Lockton to her new role.
Insurer’s Ambiguity in "And/Or" Wording Leads to Continued Coverage for Bruce Packing
A federal court ruled that Scottsdale Insurance must cover Bruce Packing in listeria lawsuits due to ambiguous policy language regarding disease exclusions.
Debating Beverage Etiquette: The Impact of Coffee at Job Interviews
Employers risk losing top candidates by judging professionalism based on drink choices at interviews, raising questions about workplace culture.
Court Affirms Workers' Compensation Benefits After Surveillance Evidence Supports Injury Claim
A New York appeals court upheld workers' compensation for a retail manager, reinforcing the validity of claims supported by surveillance footage.
Colombia's Earthquake Claims Estimated at $1.4 Billion, Impacting Insurers
Colombian insurers are facing an estimated $1.4 billion in claims from the August earthquake, raising concerns over their earnings in the latter half of 2026.
Oil Shipping Costs Surge Amid Supertanker Shortage
A global shortage of supertankers is increasing oil shipping costs, potentially making long-distance crude transport economically unviable.
Afreximbank and Zep-Re Collaborate to Enhance African Insurance Capacity
Afreximbank and Zep-Re have signed a three-year agreement to boost insurance expertise in Africa, focusing on risk management and trade facilitation.
IAG to Initiate Auditor Transition Amid KPMG Controversies
Insurance Australia Group plans to tender for a new auditor, moving away from KPMG after scrutiny from a parliamentary inquiry.
Alexander Reath Steps Up as Marsh Risk's New Leader in Real Estate and Hospitality
Marsh Risk appoints Alexander Reath as the new U.S. leader for real estate and hospitality, succeeding Duncan Ellis, who is departing for new opportunities.