Daily Market Update

Daily Market Update

Daily Market Update Icelandic volcano at risk of eruption
Yet another natural risk is hitting the headlines this morning as a volcano in Iceland is at a raised risk of erupting. The Icelandic meteorology office says there are “very strong indications of ongoing magma movement” in the region. An earthquake early on Monday morning was of the highest magnitude seen in the area since 1996 and the possibility of the Bardarbunga volcano erupting is not being ruled out. Four years ago another volcano in Iceland erupted, showering a large swath of Europe in an ash cloud. Flights to and from the continent were severely disrupted for 5 days, not just locally but internationally as flight paths were changed and busy hubs such as London Heathrow were closed. This latest risk has seen the aviation alert system raised to its second highest level – orange – indicating “escalating unrest with increased potential of eruption.” As well as being an environmental risk, these kind of incidents pose threat to supply chain, operational capability and of course people; through injury or displacement.

Canada’s professionals certain of cyber attack
A survey of IT professionals in Canada reveals that a third are certain that they have been subjected to a cyber attack in the last year, that could put their data or that of their clients at risk. More than half of those polled also say that not all of the threats are detected. These are scary numbers, considering that this is not a random selection of businesses; they are IT professionals. A separate study by Statistics Canada a few months ago, of a more general business spectrum, showed that 6 per cent had suffered a cyber attack, but a larger percentage may not know that they had. Experts advise companies to ensure they rank cyber security highly in their risk assessments and have strong policies and contingencies in place to mitigate damage caused.

Widow gets life insurance payout for husband she’s accused of killing
The widow of Texas trucking magnate Bill Hall Jr. is to receive more than $300,000 from her deceased husband’s life insurance policy while awaiting trial for his murder. It’s reported that Frances A. Hall was awarded the settlement by a probate judge after her children gave up any claim on the money and said that their mother should have it. They do not blame her for their father’s death, believing it to be an accident. She denies murder. The Texas Insurance Code states that a person believed to be involved in the death of the insured cannot claim the proceeds of the policy. Probate lawyers have said the case is highly unusual and are baffled by the decision of the court. If Mrs Hall is found guilty of the charges then she would have to forfeit the payout, which would then go to her children. Read the full story.