In the news today: Superyacht premiums to rise, irregular expenditures at South Africa’s audited state-owned enterprises rise to $2 billion last year, and September’s natural catastrophes cause “tens of billions” of economic losses

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Superyacht insurance premiums on the rise in light of recent events

The fire that broke out in the floating dock of the Lürssen shipyard in Bremen-Aumund, which included significant damage to a USD100-million superyacht, may trigger an insurance payout in the region of €600million. Premiums for superyacht insurance are also expected to rise.  READ MORE

Irregular expenditures at South Africa’s audited state-owned enterprises swells to almost $2 billion

South Africa’s Auditor General’s latest report shows irregular expenditures at state-owned enterprises increased from $341 million in the 2016/2017 financial year to $1.85 billion last year.  READ MORE

Global cyber insurance sector to double by 2030

The global cyber insurance market stood at $3.5-4 billion in 2017 and will climb to $8-9 billion by 2020, data by Munich Re shows.  READ MORE

Brexit has cost $46billion, and the UK hasn’t even moved out

As Britain’s negotiations to leave the EU enter their crunch moment, data shows that the economic impact of Brexit amounts to as much as 6% of GDP. Bloomberg Economics estimates the UK GDP could drop by 3.2%-6.7% by 2030, depending on the option chosen. READ MORE

September’s natural catastrophes cause “tens of billions” of economic losses

Insurance broker Aon says that September this year has resulted in “tens of billions” of economic losses around the globe, mainly due to natural catastrophes like typhoons, hurricanes, tsunamis and floods.  READ MORE