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Cyber intelligence lacking in half of U.K. firms: Report

Published March 04, 2015 - 5:41am CST

Research by Symantec Corp. and Deloitte L.L.P. found that about 54% of firms in the United Kingdom lack knowledge and intelligence to protect themselves against sophisticated cyber attacks, reported Information Age.

ING Groep to segregate insurance and banking operations

Published March 04, 2015 - 5:40am CST

Cornelia Coman, head of ING Groep N.V.'s Hungarian unit, said that the Netherlands-based group has decided to segregate its insurance and banking operations from April 1, Budapest Business Journal reports.

Solvency II barrier to infrastructure investment: Official

Published March 04, 2015 - 5:38am CST

Italian insurer Assicurazioni Generali S.p.A. CEO Alberto Minali has said that the European Union's Solvency II rules would make it too expensive for insurers to invest in infrastructure, Reuters reported.

Parametric triggers can guarantee business interruption recovery: Marsh

Published March 04, 2015 - 5:37am CST

Marsh L.L.C. has said that businesses can ensure recovery following natural disasters or weather events by tapping parametric triggers and alternative risk transfer structures, Artemis.bm reports.

Fire destroys thousands of acres in Cape Town

Published March 04, 2015 - 5:35am CST

A huge fire in South Africa's Cape Town city has destroyed thousands of acres of rare plants, reported NewsDay citing the South African Press Association.

China's solvency rule to create resilient market: Peak Re

Published March 04, 2015 - 5:34am CST

Hong Kong-based Peak Reinsurance Co. Ltd. has said that China's new solvency regime – the China Risk Oriented Solvency System – for the insurance sector would result in a stronger and resilient market in the long run, Asia Insurance Review reported.

Cyber attack hits semiconductor equipment maker

Published March 04, 2015 - 5:32am CST

Netherlands-based ASML Holding N.V. said that it was recently hit by a cyber attack, adding that no 'valuable' files were stolen, reported Infosecurity Magazine.

Insurer results will be hit by Indian regulator's investment rule

Published March 04, 2015 - 5:30am CST

The Indian insurance regulator's plans to cut investments in securities other than those approved by 10% may hit the returns of Indian general insurers, Taxmann reported citing The Economic Times.

Oil theft costs Nigeria $2.15 billion annually

Published March 04, 2015 - 5:29am CST

Usman Jibrin, Nigerian Navy's Chief of Naval Staff, said that oil theft is costing the country 433.62 billion Nigerian nairas ($2.15 billion) every year, The Punch reported.

Insurance regulator mandates agriculture cover in Nepal

Published March 04, 2015 - 5:27am CST

Nepal's Insurance Board has made it mandatory for all nonlife insurers in the country to offer agriculture insurance and has allotted them certain districts to underwrite, reported E-Kantipur.

Solvency changes in China to drive reinsurance rethink: Fitch

Published March 03, 2015 - 6:05am CST

Fitch Ratings Ltd. said that implementation of the China Risk Oriented Solvency System will cause insurers to revamp their reinsurance arrangements, Asia Insurance Review reports.

Insurers' 2014 premium volume up 9% in Russia

Published March 03, 2015 - 6:03am CST

Igor Zhuk, head of insurance department of Russia's central bank, said that premium volume of the country's insurers increased 9% year on year to 986 billion Russian rubles ($15.99 billion) in 2014, Forinsurer reported citing Finmarket.

Brokerages R.K. Harrison, Hyperion finalize merger

Published March 03, 2015 - 6:01am CST

U.K.insurance brokerages Hyperion Insurance Group Ltd. and R.K. Harrison Holdings Ltd. have finalized their merger, Telegraph.co.uk reported.

Insurer Suncorp takes $116.4 million cyclone hit

Published March 03, 2015 - 6:00am CST

The recent cyclone Marcia that hit Australia's Queensland state is likely to cost insurer Suncorp Group Ltd. up to $150 million Australian ($116.4 million), Courier Mail reports.

Insurance growth potential in Colombia: Official

Published March 03, 2015 - 5:58am CST

Nicolas Delgado Gonzalez, president of QBE Seguros S.A. in Colombia, has said that there is plenty of space for insurers in the country in spite of increasing competition in the domestic market, reported BNamericas citing newspaper El Tiempo.

Rains damage crops worth $161.7 million in India

Published March 03, 2015 - 5:57am CST

Heavy rainfall across India's Maharashtra state has resulted in extensive damage to crops, Hindustan Times reported.

Cybercrime doubles in Iran: Official

Published March 03, 2015 - 5:55am CST

Ali Niknafs, director of Iranian Center for the Detection and Prevention of Cybercrime, said that cybercrime has doubled in the country over the course of three years, reported Cihan News Agency citing news agency IRNA.

Insurers consider increasing foreign promoters' stake

Published March 03, 2015 - 5:53am CST

Insurers in India might consider diluting domestic promoters' stake or increasing foreign promoters' stake, reports The Hindu BusinessLine.

Quake affects 81,000 residents in China's Yunnan province

Published March 03, 2015 - 5:52am CST

The government of China's Yunnan province said that 81,000 residents have been affected by the magnitude 5.5 earthquake that recently the province, Presna Latina reported.

Risk of flooding in Zaragoza, Spain

Published March 03, 2015 - 5:49am CST

Zaragoza, Spain, is on high alert for flooding following rise in volume of river Ebro that flows through the city, Xinhua reported.

Severe weather warning issued in New South Wales

Published March 02, 2015 - 5:50am CST

A severe weather warning has been issued for several regions of Australia's New South Wales state, reported Skynews.com.au.

Criminals turning to cybercrime: U.K. Police chief

Published March 02, 2015 - 5:49am CST

Adrian Leppard, commissioner of U.K.'s City of London Police, has said that although traditional crimes have been decreasing, financial crimes are on the rise, reported Telegraph.co.uk.

Regulator in China issues insurance draft guidelines for heavy equipment

Published March 02, 2015 - 5:48am CST

China's insurance regulator has issued draft guidelines for trials on offering insurance coverage for expensive technical equipment, reported Asia Insurance Review.

Loss for Australian rail operator after cyclone

Published March 02, 2015 - 5:46am CST

Australia's Aurizon Holdings Ltd. has said that it faces a $30 million Australian ($23.4 million) hit to its final results, mainly because of damage from the recent cyclone Marcia that hit the country, News.com.au reported.

Insurance sector opens in Rwanda

Published March 02, 2015 - 5:45am CST

The regulatory and supervisory framework implemented by Rwanda's central bank some time back has led to the entry of new insurers in the country, East African Business Week reports.

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