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September Broke Global Heat Record by ‘Gobsmackingly Bananas’ Margin: Scientist
The global average temperature for September broke records by such an absurd margin that climate experts are struggling to describe the phenomenon. “This month was — in my professional opinion as a climate scientist — absolutely gobsmackingly bananas,” Zeke Hausfather, …
POSTED OCTOBER 04, 2023 10:48 AM |
Central Bank Test Lab Develops Global Bitcoin Mapping System
A global central bank test lab has designed a prototype bitcoin monitoring system aimed at giving authorities a clearer picture on how, when and where the cryptocurrency is used. The Bank for International Settlements (BIS) project, codenamed Atlas, began at …
POSTED OCTOBER 04, 2023 10:17 AM |
4 Billion Pieces of Paper Keep Global Trade Afloat but Fraud Fuels Push to Digitize
They are relatively easy to fake. Frequently get lost. And can add huge amounts of time to any journey. Yet paper documents still rule in the $25 trillion global cargo trade with four billion of them in circulation at any …
POSTED OCTOBER 04, 2023 8:47 AM |
People Moves: Talkowski to Lead Nationwide Middle Market Commercial Lines Team; Showalter New Head of Client Experience at Hub Private Client
Nationwide has hired Kristina Talkowski from CNA to head up its middle market commercial lines business. Starting Oct. 16, she will be tasked with executing Nationwide’s long-term commercial lines insurance strategy for mid-sized businesses. Talkowski has 20 years of insurance …
POSTED OCTOBER 04, 2023 7:37 AM |
Hong Kong’s Typhoon-Related Insurance Claims Set to Top Record $500M in 2023
Hong Kong insurance claims caused by natural disasters may climb to a record and exceed $500 million this year should approaching Typhoon Koinu add to this storm season’s damages, according to Bloomberg Intelligence. The city’s heaviest rainstorm on record, coupled …
POSTED OCTOBER 04, 2023 6:30 AM |
NHTSA Expands Probe Into Ford Engine Failures to Include Nearly 709,000 Vehicles
U.S. auto safety investigators have expanded a probe into Ford Motor Co. engine failures to include nearly 709,000 vehicles. The National Highway Traffic Safety Administration also said in documents posted Monday on its website that it upgraded the investigation to …
POSTED OCTOBER 04, 2023 6:15 AM |
Commercial Auto Up Against Persistent Headwinds to Underwriting Profit
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. “The liability component has been more problematic than the physical damage component, which is no surprise …
POSTED OCTOBER 04, 2023 5:31 AM |
Viewpoint: Reflecting on 30 Years of Transformation in the Re/Insurance Sector
Executive summary: Reflecting on 30 years of Pro Global’s journey in the re/insurance sector, it is evident that the company’s evolution parallels the broader shifts that have defined the industry’s growth, adaptation, and innovation. This reflection provides an opportunity to …
POSTED OCTOBER 04, 2023 5:15 AM |
Is Industry Prepared? Hail, Convective Storms, Population Now Driving Billions in Losses
Hurricanes in the East. Wildfires in the West. Those are the big disasters that grab the headlines and are driving property insurance costs and cancellations, to a large degree, right? Yes, but insurers also are seeing a huge increase in …
POSTED OCTOBER 04, 2023 5:01 AM |
Subcontractors Working Too Close to High Voltage Power Lines Draws OSHA Action
The U.S. Department of Labor has entered into a settlement agreement with a New Jersey building contractor who allowed its subcontractors’ employees to work in close proximity to high-voltage power lines at a Paterson work site in 2021 and 2022. …
POSTED OCTOBER 04, 2023 5:00 AM |
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