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Espionage hacking grows, with more from Eastern Europe: Study

Published April 22, 2014 - 12:25pm CST

(Reuters) — Hacking for espionage purposes is sharply increasing, with groups or national governments from Eastern Europe playing a growing role, according to one of the most comprehensive annual studies of computer intrusions.

Smartphone-case firm settles whistleblower lawsuit over customs duties for $4.3M

By: Judy Greenwald

Published April 22, 2014 - 10:51am CST

A Colorado company that sells protective cases for smartphones and tablets has agreed to pay $4.3 million to settle a whistleblower lawsuit, in which it was charged with violating the False Claims Act and the Tariff Act of 1930.

Lloyd's considers regional insurance office in Colombia or Mexico

Published April 22, 2014 - 5:31am CST

Lloyd's of London is mulling the establishment of a regional insurance office in Mexico or Colombia, as part of its 'Vision 2025' plan, BNamericas reported.

Mexico: Earthquake insurance contracts down 9.4% in 2013

Published April 22, 2014 - 5:29am CST

Figures from Mexico's insurance regulator show that take-up of earthquake insurance contracts in Mexico fell by 9.4% in 2013, reports El Financiero.

Venezuela: Fresh clashes erupt in Caracas

Published April 22, 2014 - 5:28am CST

Anti-government protesters in Venezuela's capital city Caracas have clashed with police in new incidents of violence, BBC reported.

Nigeria: Rising political tensions could dent insurance industry's growth

Published April 22, 2014 - 5:26am CST

Analysts have said the Nigerian insurance industry's projected growth could be disrupted by the rising political tensions ahead of elections in 2015, Business Day reported.

Powerful earthquake strikes off Papua New Guinea

Published April 22, 2014 - 5:24am CST

A 7.5-magnitude earthquake struck off Papua New Guinea on Apr. 19 2014, prompting a tsunami warning to be issued briefly for that country and the nearby Solomon Islands, Reuters reported.

New Zealand: Storm causes extensive damage in Nelson Tasman region

Published April 22, 2014 - 5:23am CST

The recent storm that battered the Nelson Tasman region has "done a lot of damage," Richard Walsh, owner of Nelson Tree Service Ltd., said.

India: Climate change could affect Kerala's marine sector, says government body

Published April 22, 2014 - 5:21am CST

Rising sea levels and changes in water temperature from climate change could take a big toll on Kerala's marine and inland fisheries sectors, a report prepared by the state's Department of Environment and Climate Change said.

Czech Republic: Fire damage at galvanization unit pegged at $10 million

Published April 22, 2014 - 5:20am CST

A fire at Kozak Svitavy s.r.o.'s galvanization facility in Lanskroun, Czech Republic, has caused an estimated 200 million Czech korunas ($10 million) in damage, Lanskroun Mayor Stanislava Svarcova said.

India: L&T calls off talks on merger with Future Generali Insurance

Published April 22, 2014 - 5:17am CST

India's Larsen & Toubro Ltd. has called off merger talks with Future Generali Insurance, Reuters reported.

Aspen, Endurance exchange fire in hostile takeover battle

By: Matthew Lerner

Published April 21, 2014 - 11:17am CST

Endurance Specialty Holdings Ltd. responded swiftly Monday morning to a letter from Aspen Insurance Holdings Ltd. to its shareholders on Sunday reiterating the reinsurer's criticism and rejection of Endurance's $3.2 billion hostile takeover offer.

India: Government to create nuclear insurance pool

Published April 21, 2014 - 5:33am CST

The Indian government is planning to create a nuclear insurance pool, after the Department of Atomic Energy found that no single insurer expressed the ability to offer the huge financial cover required for nuclear facilities, Business Standard reported citing Press Trust of India.

Zurich Insurance seeks merger and acquisition opportunities in China

Published April 21, 2014 - 5:31am CST

Stuart A. Spencer, chief executive of Zurich Insurance Co. Ltd.'s general insurance business in the Asia-Pacific, said the company is seeking merger and acquisition opportunities in China, reports Ecns citing China Daily.

Qatar Rail awards construction, liability insurance contract to consortium

Published April 21, 2014 - 5:29am CST

Qatar Railways Co. has awarded one of the biggest "single project tunneling and rail construction insurance" contracts to the National Insurance Consortium, Al Bawaba reported.

China: Strike at shoe plant disrupts output

Published April 21, 2014 - 5:28am CST

Continued strike action at Yue Yuen Industrial Holdings Ltd.'s shoe factory in Dongguan, China, has brought production to a halt for five days, Bloomberg reported.

Serbia: 11 municipalities in state of emergency due to floods

Published April 21, 2014 - 5:26am CST

An emergency situation has been declared in 11 municipalities in Serbia because of floods, Novinite reported.

Australia: Insurance trade group rejects overcharging allegations

Published April 21, 2014 - 5:25am CST

The Insurance Council of Australia has rejected allegations that some insurers are overcharging clients, saying that premium rates depend on several factors, Brisbane Times reported.

Vietnam: Insurer Baoviet Holdings looks for foreign partners

Published April 21, 2014 - 5:24am CST

Vietnamese insurer Bao Viet Holdings said it hopes to find up to three international strategic partners and is seeking shareholders' nod for the move.

New Zealand: Fire at Wellington bus depot causes damage of nearly $1 million

Published April 21, 2014 - 5:22am CST

A suspicious fire destroyed two buses at a Wellington bus depot, resulting in damage of $1 million New Zealand ($858,100), 3 News reported. Another bus was badly damaged by the fire.

Endurance names Richard Housley head of global property insurance practice

By: Kate Shepherd

Published April 18, 2014 - 1:10pm CST

Endurance Specialty Holdings Ltd. has named Richard Housley as executive vice president and global practice leader for property insurance, the Pembroke, Bermuda-based insurer said Friday.

RSA Insurance sells eastern European units for $497 million

Published April 18, 2014 - 6:00am CST

RSA Insurance Group P.L.C. is selling its four businesses in eastern European for €360 million ($497 million), Bloomberg reported.

Generali's Lion I Re cat bond set to expand to up to $262.5 million

Published April 18, 2014 - 6:00am CST

Assicurazioni Generali S.p.A.'s Irish-domiciled catastrophe bond Lion I Re Ltd. is on course to grow to around €180 million ($249 million) to €190 million ($262.5 million) in size, Artemis.bm reported.

New Zealand: Major storm causes havoc

Published April 18, 2014 - 6:00am CST

A huge storm has battered much of New Zealand, affecting power supplies, causing damage and disrupting transport, Radio New Zealand reported.

China: Shanghai Free-Trade Zone looks to attract captive insurers

Published April 18, 2014 - 6:00am CST

Officials from the Shanghai Free-Trade Zone are looking to attract companies wishing to set up captive insurers, reports Hexun.com.

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