Total economic and insured losses from Japan's Typhoon Hagibis are expected to reach well into the billions

AI could contribute £12.2trn to the global economy by 2030, and could increase UK productivity by 14.3%.

Today brings the second wave of cannabis legalisation in Canada, and, with it, significant opportunities for insurers as a potentially vast new market is opened up in cannabis edibles, extracts and topicals. Sales are projected to grow ten-fold to reach US$40bn a year in the US by 2025 and around US$5bn in Canada within five years.

FM Global has just opened its US$16m electrical hazards and gas detection laboratory, part of the commercial insurer's Rhode Island Research Campus where it carries out testing for companies operating in hazardous environments.

Heightened geopolitical tensions are creating an extremely challenging environment for insurers and brokers, as the US imposes sanctions on Turkish ministries and senior government officials in response to the country's military offensive in northern Syria.

Earlier this week, US firm, Pitney Bowes was hit with a ransomware attack that it said had encrypted information on its systems. While it is reported the company is working with a third party to address the issue, it still faces the challenge of whether to pay the ransom.