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TERMINI IMERSE, Italy — Prosecutors said there "could be a question of manslaughter" as they opened an investigation into the deaths of seven people after a superyacht sank while anchored off the Sicilian coast Monday. Speaking at a press conference, prosecutor Ambrogio Cartosio said the investigation is not currently directed at any individuals, and is looking into “the crime of culpable shipwreck and multiple manslaughter." New Zealander James Cutfield has already been questioned for more than two hours, and prosecutors said he had been "extremely cooperative." Bad weather was forecast ahead of the sinking, and questions about the weather were also raised by journalists. The body of Recaldo Thomas, a Canadian Antiguan national who was the ship’s cook, was recovered shortly after the accident.

Persons: Italy —, Ambrogio Cartosio, Cartosio, Divers, ”, Prosecutors, New Zealander James Cutfield, Mike Lynch —, Bill Gates ” —, Hannah, Jonathan Bloomer, Morgan Stanley, Judy, Christopher Morvillo, Neda, Recaldo Thomas Organizations: Italy — Prosecutors, New Zealander, Sky News, Morgan, Morgan Stanley International, Prosecutors Locations: Italy, New York City, Canadian

☆ Why only 400 people at a time can visit this paradise island
▼ + stars: | 2024-07-15 | by ( Emily Blumenthal | ) edition.cnn.com time to read: +12 min

CNN —Lord Howe Island has the look of a destination ripe for overtourism, with verdant mountaintops, pristine white-sand beaches and clear-blue waters teeming with colorful fish. Atop the summit of Mount Gower – one of the most popular hiking trails on Lord Howe – sits a rare, endangered cloud forest. Beaches are just a few minutes’ walk or bike ride away from the guesthouses, making Lord Howe “the easiest holiday,” said Anthony Riddle, a sixth-generation islander who co-founded Lord Howe Island Brewing Company and Lord Howe Island Distilling Company. “We tell the story about what is it that’s special about Lord Howe Island. Sniffer dogsIan Hutton boating near Lord Howe Island.

Persons: Howe, ”, Lisa Makiiti, Lord Howe, Darcelle Matassoni, Lord, Makiiti, Bowker, Howe Island's Mount, Matteo Colombo, Dean Hiscox, that’s, ” Hiscox, Ian Hutton, David Attenborough, Hutton, it’s, Mount Gower –, Lord Howe –, Anthony Riddle, “, you’re, Hiscox, they’re, ” Hutton, ” Makiiti, Riddle, There’s, ” Matassoni, ” Riddle Organizations: CNN, Bowker, UNESCO, Lord Howe, Board, Howe Environmental, Howe, Museum, Brewing Company, Australian National Maritime Museum, Residents, Sustainability, Islanders Locations: Australia, Sydney, Howe Island's Mount Gower, Mount, Howe’s, Howe

The special purpose acquisition company (SPAC) unveiled plans earlier this year to combine with London Innovation Underwriters and raise additional funds to deploy in the Lloyd's of London insurance market. The deal by Financials Acquisition Corp differs from a typical SPAC merger because the company has set up London Innovation Underwriters itself. It is not the first time that public market investors in London have backed a new insurance venture. In 2020, Conduit Holdings (CRE.L) listed on the London Stock Exchange, subsequently starting reinsurance activities. UBS and HSBC are joint global coordinators to the Financials Acquisition deal.

Persons: Britain's King Charles, Sarah Meyssonnier, William Allen, Lloyd's, Beazley, Carolyn Cohn, Pablo Mayo Cerqueiro, Anousha Organizations: City of, REUTERS, Financials, London Innovation Underwriters, Lloyds, Innovation Underwriters, Conduit Holdings, London Stock Exchange, UBS, HSBC, Thomson Locations: City, City of London, Britain, London, Lancashire, Lloyd's

☆ Major cyber attack could cost the world $3.5 trillion -Lloyd's of London
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

3D printed models of people working on computers and padlock are seen in front of a displayed CYBER ATTACK words and binary code in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Oct 18 (Reuters) - A major cyber attack on a financial services payments system could lead to global losses of $3.5 trillion, with much of it not covered by insurance, commercial insurance market Lloyd's of London (SOLYD.UL) said on Wednesday. Cyber insurance saw over $9 billion in gross written premiums in 2022 and is forecast to grow to $13 billion to $25 billion by 2025, Lloyd's said. Over 20% of the world's cyber premium is placed in the Lloyd's market, Lloyd's said. Major cyber insurers Beazley (BEZG.L) and Hiscox (HSX.L) are among more than 50 insurance companies in the Lloyd's market.

Persons: Dado Ruvic, Lloyd's, ”, Bruce Carnegie, Brown, Beazley, Carolyn Cohn, Jonathan Oatis Organizations: REUTERS, Lloyd's, Cambridge Centre, Risk Studies, China, Thomson Locations: London, United, Japan

Many in the art and insurance world, however, say it may be only be a matter of time before art works are vandalised, especially if protests spread beyond climate activism. The art insurance market globally earns around $750 million in premiums. PRESSURE ON PREMIUMSLosses and levels of insurance availability tend to dictate insurance premiums. Commercial museums and galleries, however, buy art insurance, and its use is also more prevalent among larger museums in the United States than in Europe. While five insurers contacted by Reuters said they were not yet factoring climate attacks into premiums, some artists say they already face increased costs.

☆ Unpacking NFTs, the brightest new sparks in the art world
▼ + stars: | 2021-12-03 | by ( Sponsor Post | Created Insider Studios With Artgee | ) www.businessinsider.com time to read: +5 min

NFTs are broadening the demographic of art collectors, attracting a younger, more digital-native audience, many of whom might previously have felt intimidated by the traditional art world. "A lot of NFT collectors are not the typical art collectors that are educated in art history or contemporary art and have knowledge in art institutions and galleries," Che said. While NFT art has without question affected contemporary art sales, Che doesn't believe it will make traditional art collection obsolete. "Just like the invention of photography did not eliminate conventional mediums like painting and sculpture, digital art will not eliminate physical art. This new technology will bring something new to the current art world and the two will coexist in the future.

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