Saudi Arabia cut its oil output by half on Saturday after Yemen's Houthi rebels claimed responsibility for a drone attack on two oil facilities in eastern Saudi Arabia.
Global law firm Clyde & Co has entered into a formal collaboration with start-up company, Assess Threat, which developed the unique Terrorism Risk Assessor (Tera) product.
Drones are increasingly being used with malicious intent to cause disruption at airports, bringing about a need to manage and mitigate the threat.
Mining as well as retail and hospitality are the two sectors most exposed to terrorism risk in sub-Saharan Africa (SSA), says Marsh, a global leader in insurance broking and risk management, in its 2019 Terrorism Risk Insurance Report .
Following the terror attacks in Sri Lanka in April which killed at least 290 people and left more than 500 injured, insurance claimants affected by the attacks are still waiting for pay-outs. According to a report from Times Online, the Ceylon Teachers Union (CTU) alleged that students affected by the attacks are yet to receive their pay-outs from the 'Surakasha Students Insurance Scheme'.
The newly-created 'Poverty Alleviation and Social Protection Division' of the Pakistan government has introduced a health insurance card in 38 districts to date, reported Pakistan Point News. The card aims to help 3.3m low-income Pakistanis with their medical expenses.
Australian Reinsurance Pool Corporation (ARPC) chief executive Dr Christopher Wallace has welcomed the performance audit report from Australian National Audit Office (ANAO) following its review of ARPC. The review concluded that ARPC is effective in managing the terrorism reinsurance scheme and that governance arrangements allow effective oversight and management of the scheme.
The government-run Australian Reinsurance Pool Corporation (ARPC) has commissioned a 12-month research study into the nature and cost of physical damage to commercial property (including business interruption) caused by acts of cyber terrorism, says the Auditor General in a report following a performance audit of ARPC.
Peace in the Middle East & North Africa, the world's least peaceful region, improved marginally last year, based on improvements in 11 countries, according to the 2019 Global Peace Index (GPI).
Argenta Underwriting Asia has strengthened its underwriting team in the Asia Pacific region with the appointment of Mr Simon Wilmot-Smith, who has joined its Singapore-based team to write a political violence and terrorism account. Mr Wilmot-Smith, who has many years' experience working in the Lloyd's market including the last 12 years in the Asia Pacific region, will report to AUA's principal underwriter in Singapore, Mr Scott Sykes.