Financial risk – Page 3
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AnalysisParametrix to pay claims after MS Azure Outage
Outage at the world’s second-ranked cloud service provider brought down multiple regions for nearly three hours
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AnalysisZurich teams up with South Pole to support clients’ net zero goals
‘Demand for climate resilience services has grown exponentially in recent years’, says global head
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AnalysisFood and fuel top global cargo thefts
Thefts from hijacking have fallen as a proportion of cargo theft; these are now second to theft from facilities
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AnalysisSupply chains have not fully recovered from disruptions
A shortage of skilled labour is a compounding concern within construction, manufacturing and healthcare
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AnalysisBusiness leaders caught in “onslaught of interconnected risks”
Economic concerns top Aviva’s risk index, as net business confidence in the UK economy plummets
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AnalysisRenewable energy sector faces ‘new trilemma’
Unsettled macroeconomics, energy demand and net zero pressures are escalating risk management and ESG as key issues
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AnalysisEmerging risk must be the responsibility of all
Insurance sector must ‘stay curious and think ahead’ to cope with emerging risks, rather than simply passing the buck to other industries
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AnalysisFinancial services firms lack responsible AI strategies - study
71% of organisations state that AI ethics and responsible AI are not a core part of their operational strategies
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Analysis‘Green shoots’ as insurance pricing begins to soften - Airmic
The pace of increase in directors’ and officers’ liability insurance premium rates is slowing
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AnalysisAllianz Risk Barometer: Fallout from global crises dominates survey
Inflation, financial market volatility, a looming recession and the energy crisis are top risers for 2023
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AnalysisDavos: Pressures on food, energy and inflation may be peaking
But growth prospects remain “bleak” in Europe and geopolitical tensions will continue to shape the global economy
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AnalysisRoyal Mail ‘cyber incident’ causes widespread disruption
Ransomware attacks have risen sharply since Russia’s 2022 invasion of Ukraine
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AnalysisDemand for BII shoots up after COVID test cases
Insurance class to see a period of “growth and stability”, but appetite for pandemic cover remains muted
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AnalysisRecession to prompt rise in claims and disputes
Law firm cites climate change, ESG and cyber exclusions as key sources of concern for insurers
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AnalysisCost of living crisis triggers a “pandemic of fraud”
The imminent recession is acting as a ’breeding ground for fraudulent claims’ - survey
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AnalysisBanking CROs face ‘torrent of interwoven complexities’
Cybersecurity is the main risk globally for three out of four banking CROs, while geopolitics tops concerns for those in Europe
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AnalysisCommercial insurance rate hikes continue
Insurance pricing rose by an average of 5.7% in 2022, the sixth consecutive year of rate increases
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AnalysisNearshoring is happening faster than expected
Apple, GM and Boeing lead the trend as US-based corporates source suppliers closer to home
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AnalysisUK leads recession for the Eurozone in 2023
The UK economy is set to shrink by 0.9% compared to the Eurozone - which is predicted to shrink by 0.4% - Allianz Trade
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AnalysisDirectors feel more confident as new year dawns
The IoD Directors’ Economic Confidence Index rose slightly, but remains low after three years of shocks
