International News

Amazon considering UK insurance comparison site

Intermediaries, Technology       Aug 16, 2018

LONDON:  Amazon.com Inc (AMZN.O) is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s financial services.   Three...

First Jury in a Roundup Cancer Trial orders Monsanto to pay $289 million

Non Life-News, Risk Management       Aug 13, 2018

  A California jury on last Friday found Monsanto liable in a lawsuit filed by a man who alleged the company’s glyphosate-based weed-killers, including Roundup, caused his cancer and ordered the company to pay $289 million in damages.   The case of school groundskeeper Dewayne Johnson was...

2nd Chinese Manufacturer Makes Tainted, Carcinogenic Heart Drug: EU

Health, Non Life-News       Aug 11, 2018

  The European Medicines Agency (EMA) said on Friday that a second Chinese contract manufacturer, Zhejiang Tianyu, had produced a common blood pressure and heart drug with an impurity that could cause cancer.   The alarm over the valsartan drug was first raised in July, prompting a...

Global commercial insurance prices rise for 3rd consecutive quarter: Marsh

Non Life-News       Aug 11, 2018

    Globally, property insurance prices increased 2.3 percent, on average, during the second quarter, which was slightly less than that observed in the previous two quarters, said Marsh’s “Global Insurance Market Index,”  report   According to the report, the global commercial insurance prices rose in the second...

China's new silk road may lead to USSR-like collapse

Economy, Non Life-News       Aug 12, 2018

  What causes empires to fall? According to one influential view, it’s ultimately a question of investment. Great powers are the nations that best harness their economic potential to build up military strength. When they become over-extended, the splurge of spending to sustain a strategic edge...

Qatar on track to lose its world’s richest place status to Macau

Economy, Wealth Management       Aug 12, 2018

  Qatar Is  on track to lose its status as the richest place in the world to the Chinese gambling enclave of Macau.   The global casino hub’s economy will reach the equivalent of about $143,116 per person by 2020, according to projections from the International Monetary...

Tests expose risks of Semi-Autonomous driving systems

Cars and trucks with electronic driver assist systems may not see stopped vehicles and could even steer you into a crash if you’re not paying attention, an insurance industry group warns.   The Insurance Institute for Highway Safety, in a paper titled “Reality Check,” issued the...

Merger Deals Now Include #MeToo Sexual Harassment Clauses

Non Life-News, Reinsurance, Risk Management       Aug 09, 2018

  On Wall Street, it’s known as “the Weinstein clause.”   Advisers are adding guarantees to certain merger agreements in light of the sexual misconduct scandals that have enveloped the producer Harvey Weinstein and other high-profile businessmen — ones that legally vouch for the behavior of a...

July drought and wildfires likely to result in minimum €3.5bn economic loss in Europe: Aon report

                                       CHICAGO: Impact Forecasting, the catastrophe model development team of Aon’s Reinsurance Solutions business, launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during July 2018.   The report reveals that many countries...