International News

Root Insurance Closes $51 Million Investment to Expand Customized Auto Insurance

Technology       Mar 27, 2018

  COLUMBUS, Ohio: Root Insurance, the first car insurance company to incorporate individual driving behavior in every quote, announced today the closing of a $51-million Series C funding round led by Redpoint Ventures, with Scale Venture Partners and existing partners Ribbit Capital and Silicon Valley Bank...

B3i founders form blockchain startup

Technology       Mar 26, 2018

Munich: The Blockchain Insurance Industry Initiative (B3i) has announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i. Up until now B3i has been a collaborative initiative of 15 global insurers and reinsurers who came together...

Land degradation may affect 3.2 billion people globally: Report

Economy       Mar 26, 2018

  Medellin: Worsening land degradation caused by human activity is undermining the well-being of two fifths of humanity, driving species to extinction and intensifying climate change, the world's first comprehensive evidence-based assessment of land degradation and restoration said on Monday.    Land degradation is also a major...

Uber’s Self-Driving Cars Insured by Old Republic

Non Life-News       Mar 24, 2018

Old  Republic International Corp., the Chicago-based insurer, provides commercial liability coverage of as much as $5 million for each of Uber Technologies Inc.’s self-driving vehicles.   The policy covers bodily injury, death and property damage, an Uber spokeswoman said on Wednesday.     The death of a pedestrian...

Facebook User Sues Over Personal Data Release to Cambridge Analytica

Technology       Mar 24, 2018

  A Facebook Inc. user sued the social network and a data research firm that played a role in the election of President Donald Trump alleging that her privacy was violated when information on some 50 million users was improperly disclosed.   Lauren Price, of Maryland, sued...

Last three years hottest on record, severe weather hits 2018: U.N.

Climate Change       Mar 24, 2018

OSLO:  The past three years were the hottest on record and heat waves in Australia, freak Arctic warmth and water shortages in Cape Town are extending harmful weather extremes in 2018, the United Nations said on Thursday.   Atlantic hurricanes and monsoon floods in India contributed...

Facebook CEO Mark Zuckerberg

Facebook 'made mistakes' on Cambridge Analytica, says Zuckerberg

Risk Management       Mar 21, 2018

  SAN FRANCISCO:  Breaking more than four days of silence, Facebook CEO Mark Zuckerberg admitted mistakes and outlined steps to protect user data in light of a privacy scandal involving a Trump-connected data-mining firm. Mr. Zuckerberg said on Wednesday that Facebook has a “responsibility” to protect...

Inga Beale, Chief Executive,Lloyd’s

Lloyd’s announces an aggregated market loss of £2bn for 2017

Reinsurance       Mar 21, 2018

London: After a number of relatively benign catastrophe years, the frequency and scale of the disasters that struck around the world in the second half of 2017 saw major claims costing the Lloyd’s market £4.5bn, more than double the previous year (2016: £2.1bn). This significant...

Self-driving Uber kills US woman in first fatal crash involving pedestrian

Non Life-News       Mar 19, 2018

TEMPE, Ariz./SAN FRANCISCO: An Uber self-driving car hit and killed a woman crossing the street in Arizona, police said on Monday, marking the first fatality involving an autonomous vehicle and a potential blow to the technology expected to transform transportation.   The ride services company said...