Data Center Gas Plants to Boost US Power Emissions by 20%

Data center developers are turning to bespoke natural-gas power plants, a development that promises to dramatically increase carbon emissions and make it harder for US technology companies to meet their lofty climate goals. Ninety-nine proposed plants tracked by BloombergNEF would …

from News Archives - Insurance Journal https://ift.tt/HYBosyT

Second Suspect in Nord Stream Blasts Arrested in Croatia: Prosecutors

A second suspect accused of taking part in the 2022 Nord Stream gas pipeline blasts has been arrested in Croatia and will be extradited to Germany, said German prosecutors on Wednesday. In its statement, the federal prosecutors’ office identified the …

from News Archives - Insurance Journal https://ift.tt/Sy6l2aH

Canadian Firms Have $360 Billion of Private Credit Exposure, Mostly in US

Canadian financial institutions and funds have amassed roughly C$500 billion ($360 billion) of exposure to private credit, most of it outside the country, according to new research from the central bank. The bulk of the activity is in the US …

from News Archives - Insurance Journal https://ift.tt/FeP7Vso

People Moves: Alliant Promotes Newman to Managing Director, Energy Operations

Alliant Insurance Services has promoted Martin Newman to Managing Director, Energy Operations, Alliant Property & Casualty. Based in Dallas, Newman specializes in partnering with energy operators and private equity investors to develop innovative risk and insurance solutions for an increasingly …

from News Archives - Insurance Journal https://ift.tt/Zu0Ey4r

People Moves: OneShield Appoints Becker SVP, New Products

OneShield, headquartered in Marlborough, Massachusetts, appointed Rick Becker as senior vice president, new products. Becker brings decades of experience to the newly created role. He has held president, chief operating officer, chief data officer/chief information officer, and executive vice president …

from News Archives - Insurance Journal https://ift.tt/bxdG4IM

SEC to Keep Hands Off Shareholder Proposals, Worrying Activists

The top U.S. financial regulator on Friday made permanent its decision to cease judging whether companies may exclude shareholder resolutions from votes at annual meetings, leaving investor activists concerned about diminishing influence. In practice, the change announced by the U.S. …

from News Archives - Insurance Journal https://ift.tt/Fi1T6bK

Belgian Firefighters Battle Record Blaze Near German Border

Emergency services were attempting to control a large wildfire in the east of Belgium on Sunday, after the blaze destroyed about 2,700 hectares (6,700 acres) of a nature reserve and forced about 600 residents to evacuate in an area near …

from News Archives - Insurance Journal https://ift.tt/klp9i4V

UK Steps Up Scrutiny of Defense Supply Chain After China Scare

The UK Ministry of Defense is stepping-up scrutiny of its supply chain after discovering some of its naval drones transmitted signals to China. The department revealed earlier this week that a routine cyber vulnerability assessment identified an issue affecting K3 …

from News Archives - Insurance Journal https://ift.tt/HNnKZyM

AM Best Upgrades Ratings of California Casualty Group Members

AM Best upgraded the Financial Strength Rating to B+ (Good) from B (Fair) and the Long-Term Issuer Credit Ratings to “bbb-” (Good) from “bb+” (Fair) of The California Casualty Indemnity Exchange in Palo Alto, California. The upgrade includes its wholly …

from News Archives - Insurance Journal https://ift.tt/q9ecGOx

France Evacuates 525 People as New Wildfire Hits Pine Woods in Southwest

French authorities have evacuated 525 people from the village of Luglon after a wildfire broke out in the southwestern Landes region, not far from an area already devastated by major blazes this summer. The fire, which has razed 1,100 hectares …

from News Archives - Insurance Journal https://ift.tt/MBZOhy4

Low Rhine River Levels Disrupt German Industry

German companies are reporting growing disruption from Rhine water levels that have hit record lows, with chemical producers, utilities, steelmakers and agricultural traders warning of higher costs, transport bottlenecks and curbed production. While Germany has not yet suffered the widespread …

from News Archives - Insurance Journal https://ift.tt/buFM5qR

Iran Battles Oil Spill Near Key Persian Gulf Island of Qeshm

Iran is battling an oil spill off Qeshm Island, underscoring the environmental risks posed by attacks on tankers in the Persian Gulf. Satellite images show a dark, elongated trail in waters off the coastal village of Shib Deraz — a …

from News Archives - Insurance Journal https://ift.tt/KCv4st9

Putin Threatens Retaliation Over EU Moves to Seize Russian Ships

Russian President Vladimir Putin threatened to retaliate against any European Union moves to seize his country’s commercial ships, calling such actions “piracy.” As part of a new sanctions package last month, the bloc approved a mechanism allowing member states to …

from News Archives - Insurance Journal https://ift.tt/l4uR52M

Viewpoint: Is it Time to Rethink the ‘Secondary-Peril’ Label and Reclassify Risk?

As climate events intensify, exposure is expanding, and loss severities from secondary perils, such as convective storms, wildfires, floods and hail, are no longer easily dwarfed by hurricanes or earthquakes. These perils have contributed significantly to the insured losses in …

from News Archives - Insurance Journal https://ift.tt/gwQUl7f

Update: Three Killed in Attack on Ship in Red Sea, Container Ship Hit by Missile: Sources

Three crew members were killed in a suspected attack by Iran-backed Houthis on a small cargo vessel in the Bab el-Mandeb strait on Tuesday while a container ship was hit by a missile off Pakistan in a suspected U.S. attack, …

from News Archives - Insurance Journal https://ift.tt/0eBGKS8

Typhoon Season Forecast to Be Among Most Intense Ever for Asia

The current typhoon season in the Northwest Pacific Ocean is shaping up to be one of the most intense on record as the El Niño system strengthens, according to the latest projection by commercial forecaster Tropical Storm Risk. Typhoon development …

from News Archives - Insurance Journal https://ift.tt/Thzu5VA

‘Chronic’ Heat Risk in Europe Draws Warning From Swiss Re Unit

As Europe comes to grips with its fifth heat wave this year, the research arm of Swiss Re AG is warning of far-reaching consequences that may not yet be fully understood. Though Europe’s wildfire risk “is still considered moderate, the …

from News Archives - Insurance Journal https://ift.tt/907H2At

People Moves: Augment Risk Promotes Cripps to New Role of Group Head of Growth and Broking; Fidelis Partnership Taps Ascot’s Donovan as Head of U/W, Property Binders

This edition of International People Moves details appointments at the broker Augment Risk and the managing general agent The Fidelis Partnership. A summary of these new hires follows here. Augment Risk Promotes Cripps in Newly Created Role of Group Head …

from News Archives - Insurance Journal https://ift.tt/Iz5Rw28

German Shippers Warn Rhine Could Be ‘Split in Two’ by Low Water

Low water levels risk halting cargo traffic on a key stretch of the Rhine this week, effectively splitting the critical waterway into two separate zones, the federal association of German inland shipping (BDB) said on Monday. BDB managing director Jens …

from News Archives - Insurance Journal https://ift.tt/lTJWcjK

New York Strengthens Law on Inspections of Cooling Towers in City

About a month after an outbreak of Legionnaires disease hit New York City, New York Gov. Governor Kathy Hochul has signed legislation strengthening regulations on cooling tower inspections aimed at preventing future public health hazards. The new law requires that …

from News Archives - Insurance Journal https://ift.tt/5bNuAqh