International
Worst-Ever Droughts, Fires Possible in EU: Climate Change Warning
The European Union's executive warned on Thursday that the continent is facing one of its toughest years when it comes to natural disasters like droughts and wildfires because of increasing climate ...
ECB Climate Stress Test Highlights $71B Risk for Euro Zone Banks
A sudden jump in carbon prices coupled with floods and droughts this year would lead to losses of at least 70 billion euros ($71.1 billion) for the euro zone's largest banks, the European Central ...
Europe’s Landmark Test of Banks’ Resilience to Climate Risk Is Softer Than Expected
Europe's landmark test of banks' resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter. Even the toughest hypothetical scenarios in ...
Markets/Coverages: Aon Incorporates Climate Science Into European Flood Models
Insurance broker Aon has incorporated the latest climate science into its Impact Forecasting's European flood models to help enable insurers to access more accurate loss estimates to help make better ...
Cyber Pirates Prowling Ship Controls Threaten Another Big Shock
In February 2019, a large container ship sailing for New York identified a cyber intrusion on board that startled the U.S. Coast Guard. Though the malware attack never controlled the vessel's ...
Emerging Risks: Quantum Computing, Lower Construction Quality, Legal Tech
The global community continues to deal with known challenges such as the pandemic, the war in Ukraine, economic turmoil and failing trust in established social institutions. But a report from Swiss ...
Digital Insurer Startup Wefox Seeks Funding at Over $5 Billion Value
Wefox, the German digital insurer, is in advanced discussions to raise fresh funding at a valuation of $5 billion to $6 billion, people with knowledge of the matter said. The Berlin-based InsurTech ...
Afghanistan Quake Kills at Least 1,000
A powerful earthquake struck a rural, mountainous region of eastern Afghanistan early Wednesday, killing 1,000 people and injuring 1,500 more in one of the deadliest quakes in decades, the state-run ...