International News

Senior care facilities & their Insurers try to keep up with Aging America’s falls

Eco/Invest/Demography, Life       Jan 02, 2019

  Last March, a 103-year-old resident of a Sunrise Senior Living facility in Willowbrook, Illinois, went on a field trip to the movies. Ruth Smith, who used a walker, fell down two concrete steps in the theater and died about six weeks later. Now Smith’s estate...

Reinsurance Prices Drop – Despite 2018’s Big Natural Catastrophe Losses: JLT Re

Non-Life, Reinsurance, Risk Management       Jan 02, 2019

  London: JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second straight year of big losses.   Reinsurance prices, chiefly set in two batches at the...

January Renewals show higher prices for clients with poor loss records: Willis Re

Non-Life, Reinsurance       Jan 02, 2019

  London:  Reinsurance placements at 1 January 2019 highlight a pricing gap between accounts with peak peril exposures or poor loss records and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View renewals report from Willis...

India may have welcomed maximum new borns on New Year: UNICEF

Eco/Invest/Demography       Jan 02, 2019

  New DelhI: An estimated 3,95,072 babies, including 69,944 babies in India, will be born around the world on New Year's Day, the UNICEF said. Of those, a quarter will be born in South Asia alone, it added. India would welcome as many as 69,944 babies...

Sharp rise in air crash deaths in 2018: Report

Non-Life, Risk Management       Jan 02, 2019

  Amsterdam: Dutch aviation consulting firm To70 and the Aviation Safety Network both reported on Tuesday there were more than 500 deaths stemming from passenger airline crashes in 2018, but emphasized that fatal crashes remain rare.   The year 2018 saw a sharp rise in fatalities from...

Uber pledges to fight UK Court decision that drivers should be treated as workers

Eco/Invest/Demography, Uncategorized       Dec 28, 2018

   London: Uber pledged [on Dec. 19] to challenge a U.K. Court of Appeal decision that drivers should be classed as workers rather than self-employed employees, a verdict that has potentially wide-ranging implications for the rapidly growing gig economy and the rules that govern it.   The...

Indonesian tsunami insurance claims may reach $1.09 bn

  Jakarta:  For Tsunami, that struck Indonesian islands Lampung and Banten without warning last week, insurers will have shell out an estimated US$1.09 billion in claims to policyholders, according to Jakarta Post.   According to insurance companies PT Maskapai Reasuransi Indonesia (REI) and PT Asuransi Maipark Indonesia,...

Volcano-triggered tsunami kills 429, thousands homeless Indonesia

Disaster & Management       Dec 25, 2018

  Jakarta: The death toll from the tsunami that hit Indonesian islands without warning Saturday night has passed 420 with more than 1,400 people injured.Thousands of people were left homeless when the waves smashed homes on coastal areas of western Java and southern Sumatra.Disaster agency spokesman...

Gautam Adani, Founder-chairman of Adani Group

10 global re/insurers refuse cover to Adani Group’s $16.5bn Australian coal mine

Queensland: Dealing a blow, 10 of the world’s largest insurers and reinsurers, on serious environmental concerns,.have refused to provide support for the development of Gautam Adani owned Adani Group’s $16.5bn Carmichael coal mine and rail project in Clermont Town, Central Queensland..   There is a spotlight...