Australia Bans DeepSeek From Government Tech Over Security

Australia has banned DeepSeek AI services from all government systems and devices, becoming one of the first countries to take direct action against a Chinese artificial intelligence startup that shook Silicon Valley and global markets this year. Home Affairs Minister …

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Allianz, IAG Said to Mull Bids for Top Western Australia Insurer

Insurance firms Allianz SE and Insurance Australia Group Ltd. are among parties considering bidding for Western Australia’s top insurer, according to people familiar with the matter. Allianz and IAG are mulling the offers for the insurance arm of The Royal …

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Bessent to Be Acting CFPB Head, Pauses Rules and Litigation

Treasury Secretary Scott Bessent is now the acting head of the US Consumer Financial Protection Bureau, signaling a potential shift away from the aggressive enforcement and regulatory approach under Rohit Chopra. It comes after Chopra was fired by the Trump …

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Oil Tanker Attacked Last Year Crosses Red Sea as Houthi Ceasefire Holds

Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen’s Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the militia announced a halt in attacks …

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Generali to Remain in Charge of Investment Decisions in BPCE Deal, Won’t Cut Stake

Generali to remain in charge of decisions over how to allocate its own clients’ savings under the asset management deal with France’s BPCE, the insurer said, addressing concerns raised by Italy’s government and two leading investors. In a bid to …

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China Hits Back With Targeted Tariffs After Trump Imposes New Levies

China on Tuesday imposed tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods, raising the stakes in a showdown between the world’s top two economies even as President Donald Trump offered reprieves to …

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Pilots Have Long Worried About DC’s Complex, Congested Airspace

The airspace around Washington, D.C., is congested and complex — a combination aviation experts have long worried could lead to catastrophe. Those fears materialized last Wednesday night when an American Airlines plane collided with a military helicopter, taking the lives …

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UK Warns DeepSeek Users of Data Risks But Won’t Yet Ban It

As governments grapple with what to do about DeepSeek, China’s hot new AI model — including outright bans — the UK is issuing a warning to its citizens and business: be careful. “Ultimately it is a personal choice for people, …

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Property-Catastrophe Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs

RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe reinsurance prices observed at 1/1. Kevin O’Donnell, president and chief executive officer, referencing an industrywide …

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North Carolina Supreme Court Allows 2 Year Window for Child Sex Abuse Suits

North Carolina’s highest court upheld on Friday a law that gave adult victims of child sexual abuse two additional years to seek civil damages, rejecting arguments that the temporary window violated constitutional protections for those facing claims that otherwise could …

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Medical Transport Plane Crash in Philadelphia Leaves 7 Dead, 19 Injured

A Medevac plane that crashed in Northeast Philadelphia killed one person on the ground and left 19 others hospitalized, in addition to killing all six people on board the aircraft, the city’s mayor said on Saturday. “This is a tragedy …

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DeepSeek’s AI Restricted by ‘Hundreds’ of Companies in Days

Companies and government agencies around the world are moving to restrict their employees’ access to the tools recently released by the Chinese artificial-intelligence startup DeepSeek, according to the cybersecurity firms hired to help protect their systems. “Hundreds” of companies, particularly …

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Brazil Insurer Porto Seguro Eyes Partners for Health Business, Sources Say

Brazilian insurance group Porto Seguro is in talks with private equity funds to possibly sell a minority stake in its health business, with discussions focusing on the strategic advantages of potential partners and valuation, two people familiar with the talks …

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People Moves: Lloyd’s Promotes Cliff to CFO, Succeeding Keese; Ryan Re Appoints BMS’ Ryan as EVP to Lead Strategic Business Development

This edition of International People Moves details appointments at Lloyd’s and Ryan Re. A summary of these new hires follows here. Lloyd’s Promotes Cliff to CFO, Succeeding Keese Lloyd’s, the insurance and reinsurance marketplace, announced the appointment of Alexandra Cliff …

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Theft and Violence in UK Retail Soar to Record Levels, Survey Shows

Theft and violence against retail workers in Britain soared to record levels last year and are “out of control,” driven partly by criminal gangs, according to a report published on Thursday. Industry body the British Retail Consortium’s annual crime survey …

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Flood-Prone New Zealand Says It Needs to Adapt to Climate Extremes

New Zealand plans to introduce legislation before the end of the year that will create a framework to help communities and businesses adapt to the impacts of climate change. The law will establish guiding principles and responsibilities for adaptation action, …

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Alabama DOI Gives Deputy Commissioners New Responsibilities in Efficiency Move

Two deputy commissioners at the Alabama Department of Insurance will take on new roles in an effort to improve efficiency and outreach at the agency, Commissioner Mark Fowler announced Tuesday. Larry Chapman, with the DOI for two years, will add …

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Chubb Posts Record P/C Underwriting Income for Q4 and 2024

Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8% during the last quarter of 2024. Fourth quarter net income was down 22% to about $2.6 billion compared to the same period a year ago, but the Whitehouse …

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Climate Change Will Lead to Higher Deaths in Europe, Study Shows

As Europe gets hotter, more people are expected to die from extreme heat, outweighing the reduction in those killed by very cold weather. Cities in northern European regions such as the UK and Ireland and Scandinavia would see an overall …

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Ardonagh Netherlands to Buy Majority Stake in 2 High-Net-Worth Specialist Firms

Ardonagh Netherlands, part of The Ardonagh Group, has reached an agreement to acquire a majority stake in Private Insurance Assuradeuren B.V. (PIA) and Private Insurance Nederland B.V. (PIN), two prominent players in the Dutch insurance market for high-net-worth individuals. Financial …

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