Coalition launches new insurance carrier business



Active cyber insurance provider Coalition has announced that it has launched its own full-stack insurance carrier called Coalition Insurance Company (CIC).

With an A- rating from AM Best, CIC is backed by Coalition’s Active Insurance platform. The carrier will allow brokers to secure cyber protection for a broader range of clients while providing coverage that meets specific client needs, the company explained. Policies issued by CIC will include robust cyber protection for both small and midsize businesses that lack the tools and resources to mitigate cyber risks.

“The launch of Coalition Insurance Company marks a critical step in

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‘Riding a rollercoaster’ in Myanmar’s post-coup economy | Business and Economy News

Bangkok/Yangon – For Aung Thet, a successful entrepreneur in Yangon, running a business under Myanmar’s military regime feels like “riding a rollercoaster”.

The Southeast Asian country’s economy has been brought to its knees by the conflict triggered by the military’s power grab two years ago.

Foreign investors have headed for the exits and the generals have forced companies like Aung Thet’s to convert their foreign exchange accounts into Myanmar kyat. Criticism of the military administration is not tolerated.

“It’s a very hostile environment for businesspeople and the risks for speaking out on policy issues are high,” Aung Thet, who asked

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Outdated expense management processes are costing business travelers time, money, and sanity, finds Banyan expense management survey

Nearly 40% of respondents would rather eat a worm than file daily expense reports

NEW YORK, Jan. 31, 2023 /PRNewswire/ — New research from item-level receipt data network, Banyan, shows that business travelers find the expense reporting process bothersome, time-consuming, and error-prone – so much so that they’d go to extreme lengths to avoid it.

Over half (55%) of surveyed business travelers cited the time burden of expense management as their top pain point with the process. The time burden is evident – nearly 6 out of 10 business travelers spend 20 minutes or more organizing materials to

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US inflation and consumer spending cooled in December – Business News

The U.S. Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy.

Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from a 5.5% year-over-year increase in November. It was the third straight drop.

Consumer spending fell 0.2% from November to December and was revised lower to show a drop of 0.1% from October to November. Last year’s holiday sales were sluggish for many retailers, and the overall spending

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Chaucer doubles Dubai re/insurance business since 2020

Chaucer has doubled its re/insurance business in Dubai since 2020 as well as the size of its re/insurance book, said the group in a recent announcement.

The Dubai office has gone from strength to strength since Chaucer MENA opened its doors in 2017, increasing its book size 40% y-o-y, the re/insurer highlighted.

The office, headed by Senior Executive Officer, Fawzi Omari, is now celebrating its five-year anniversary. It was initially established to help Chaucer deliver bespoke risk solutions and service expertise to clients in the Middle East and North Africa.

It offers insurance and reinsurance (facultative and treaty) across six

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Halifax moving commercial tax burden to business parks

Halifax’s new commercial tax system will shift the burden to business parks so big-box stores pay more, but it’s possible small businesses will get caught up in the change.

During a budget committee meeting Wednesday, city staff gave council an update on what the new zone-based tax system with tiered rates could mean for this fiscal year, since the new rules come into place April 1.

Municipal commercial taxes in three of the parks — Dartmouth Crossing, Bayers Lake and Bedford Commons — will be the highest and would go up by $5 million overall, while the other zones would

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ChatGPT passes exams from law and business schools



CNN
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ChatGPT is smart enough to pass prestigious graduate-level exams – though not with particularly high marks.

The powerful new AI chatbot tool recently passed law exams in four courses at the University of Minnesota and another exam at University of Pennsylvania’s Wharton School of Business, according to professors at the schools.

To test how well ChatGPT could generate answers on exams for the four courses, professors at the University of Minnesota Law School recently graded the tests blindly. After completing 95 multiple choice questions and 12 essay questions, the bot performed on average at the level of a

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