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Air India’s Ahmedabad crash claim likely to hit around $475 million, liability losses can touch $350 million, says GIC Re
As surveyors and lawyers from London, appointed by reinsurers of...
Tesla’s public robotaxi rides set for tentative June 22 start, CEO Musk says
Commercialising autonomous vehicles (AV) has been challenging with...
Delta variant, a warning the COVID-19 virus is getting ‘fitter and faster’
Tedros Adhanom Gebreyesus,Director-General, WHO Almost 4 million cases worldwide were reported last week to WHO and the agency expects the total number of cases to pass 200 million, in the next two weeks. "And we know this is an underestimate", underscored...
World Bank wants catastrophe insurance in new loans for disaster hit countries: Report
Ajay Banga,President,World Bank World Bank President Ajay Banga will unveil measures, including the pause on repayments and embedding catastrophe insurance into new loans in a speech in Paris on Thursday, the newspaper reported French President Emmanuel Macron is...
Amazon duped millions of consumers into enrolling in Prime, US FTC says
The consumer protection agency filed a lawsuit claiming that Amazon’s website manipulates users into enrolling in Prime, where subscribers pay $139 a year for privileges like speedy free delivery, video streaming and access to 100 million songs. The cancellation...
InLife Health Care partners with Munich Re HealthTech
With SMAART, IHC executives will be able to have detailed information about key performance indicators of the business, including loss ratio, ultimate loss ratio, burning costs, incurred claims and ultimate claims Athens: Munich Re HealthTech S.A. today announced that...
Aon, Lloyd’s and VIG in pact to commit to Ukraine insurance
The commitment follows an announcement earlier in the day by British Prime Minister Rishi Sunak on a new framework for war risk insurance FRANKFURT: Aon PLC, Lloyd’s and Vienna Insurance Group will join forces to provide coverage for Ukraine to support its...
Ghosn to fight ‘to the end’ as sues Nissan in Lebanon
Carlos Ghosn,Former Nissan chairman Carlos Ghosn, once a titan of the global car industry, was arrested in Japan in late 2018 and charged with financial misconduct. He denied the charge and said his detention was part of a plot by Nissan executives to block a merger...
US Slips in supply-chain ranks after child-labor violations
The downgrade follows months of revelations first reported by the New York Times that companies have been employing children as young as 12 to work in dangerous conditions The composition of supply chains is set to play an increasingly important role for businesses...
Climate-attributed U.S. Hurricane losses to increase by at aeast 10% over 20 yrs under selected scenarios: Aon
Aon plc has revealed how its academic collaborations are progressing climate science, enhancing catastrophe model development and helping organizations to fulfill Environmental, Social and Governance (ESG) mandates The 14 global academic collaborations are bringing...
London’s Excel Centre wins insurance ruling on COVID-19 losses
Law firm Stewarts, which represented the owners of the ExCel Centre, said the ruling “could potentially affect hundreds of thousands of policyholders.” “Policyholders whose BI losses remain uncompensated should now revisit their policy documents to consider whether...
WHO says toxic syrup risk ‘ongoing’, more countries hit
Rutendo Kuwana, the WHO team lead for incidents with substandard and falsified medicines, declined to name the six new countries the agency is working with, while investigations are still underway Unscrupulous actors sometimes substitute propylene glycol with toxic...