SIM card vulnerability has insurance industry worried Germany’s Security Research Labs, a leading security firm, has found a serious flaw with the SIM card that are used in most mobile devices, which could have serious implications for the insurance industry. The discovery has been enough to spur the United Nation’s International Telecommunications Union into action. The organization suggests that the discovery is very significant and represents a potential threat to the global insurance industry and millions of consumers with smartphones and tablets. Flaw could affect millions of mobile consumers Security…
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Insurance industry in the Philippines shows promising growth
First quarter provides momentum to insurance industry The global insurance industry has shown some promise during the beginning of 2013. The industry, as a whole, has been struggling to overcome the challenges it faced over the past few years, many of which came at the hands of unexpectedly powerful natural disasters. In the Philippines, new reports from Emmanuel F. Dooc, Insurance Commissioner of the Philippines, suggest that the first quarter of 2013 was very beneficial for the country’s insurance industry. Commissioner Dooc provided his report to a recent United Nations…
Read MoreUnited Nations report stresses the need for action on climate change
Climate change may be a controversial issue in the world of politics, but the insurance industry is betting on dramatic weather becoming a reality in the near future. The belief of the global insurance industry is shared by the United Nations. The UN’s Intergovernmental Panel on Climate Change has released a report concerning climate-related disasters, indicating that all nations will be susceptible to extreme weather. The report is aimed at politicians around the world, stressing the necessity of preparing for future disasters wrought by climate change. The United Nations claims…
Read MoreFederal judge declares al-Qaida owes $9.3 billion for damages done in 9/11 attacks
Nearly one month ago, Lloyd’s of London, one of the largest insurance organizations in the world, levied allegations against prominent figures and organizations in Saudi Arabia regarding the September 11 attacks in the U.S. The insurer sought to recover money from the event, an initiative that was met with staunch opposition from the United Nations and other groups. The controversy surrounding the issue ultimately pressured Lloyd’s to discontinue its efforts. This, however, was not the end of the matter for the U.S., as a magistrate judge in New York took…
Read MoreUnited Nations conference hopes to catalyze the global insurance industry
Canada is set to host the third of seven United Nations conferences that aim to establish sustainability principles for the world’s insurance industry. The United Nation Environment Program Finance Initiative’s Principles for Sustainable Insurance, is a new initiative enacted by the U.N. to help insurance companies manage environmental risks as well as their associated social implications. Insurance officials from all over the world will be attending the conference, hoping to glean some information on how to cope with what appears to be a volatile environmental flux. The increase in natural…
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