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Boeing to face civil trial over 2019 MAX crash
Boeing has "accepted responsibility for the MAX crashes publicly...
China unveils $1.4 trillion local debt package but no direct stimulus
In an apparent reaction to the U.S. election and the intensifying...
Major U.S. insurers jump on distribution platforms to gain customers, sales
The powerful new platforms, including Semsee, bolttech, Bold Penguin and Uncharted, pull data from many carriers, allowing agents to see multiple quotes for policies, much the way travel agents see competing air fares.
Chubb Ltd, Travelers Companies Inc and Liberty Mutual have signed on recently as have agencies that also sell policies, executives said.The growth of digital distribution represents a shift in how insurers compete in markets for auto and homeowner coverage as well as business and commercial lines worth hundreds of billions of dollars annually, experts said.
Carriers also benefit from being able to meet more of a customer’s needs, even if they are not selling their own policy.
Climate NGOs in Germany threaten legal action against VW, Daimler, BMW
Lawyers Remo Klinger and Roda Verheyen, who represented plaintiffs in a groundbreaking case in May which concluded that Germany must set out by end of next year how it will bring carbon emissions to nearly zero by 2050, will represent the NGOs, DUH’s statement said.
$25–$35 billion insured losses in Gulf of Mexico from hurricane Ida: RMS
Losses reflect property damage and business interruption to residential, commercial, automobile, industrial, infrastructure, marine cargo and specie, watercraft, and other speciality lines of business, along with post-event loss amplification (PLA) and non-modeled sources of loss.
Shareholders may pursue 737 MAX claims against Boeing board, court rules
Zurn’s ruling in the Court of Chancery said the first of the two fatal 737 MAX crashes was a “red flag” about a key safety system known as MCAS “that the board should have heeded but instead ignored.
Meet COVID-19 pledges, support regional vaccine manufacturing:WHO
Director-General of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus pointed out that “many countries continue to face steep increases in cases and deaths” – despite that more than five billion vaccines have been administered globally.
Global P&C prms expected to more than double to $ 4.3 trillion by 2040,becoming riskier and more complex:Swiss Re
Property & casualty (P&C) business to become riskier and more complex; opportunities in fundamental shift from lower-risk, high-volume motor insurance to catastrophe-exposed property lines
Property to be fastest growing P&C line, with premiums set to almost triple to USD 1.3 trillion in 2040 from USD 450 billion in 2020, driven by effects of economic development and climate change
Motor remains largest line of P&C business, with premiums expected to almost double to up to USD 1.4 trillion by 2040
Brazil bans China’s Sinovac Covid vax over fears of contamination
Anvisa, the regulator, suspended Sinovac for a period of three months after learning that vials containing the shots were filled at an unauthorised production base, the Washington Post reported. The matter is being investigated.
Marsh launches Flood Risk Index, Indonesia,Brazil,India,Russia and Mexico most vunerable
Over 2.2 billion people are exposed to flooding globally.1 Since 1980, over 4,500 flood disasters resulted in over $1 trillion in damages, accounting for 40% of natural catastrophe losses globally.
The five G20 countries with the largest shares of population and economic assets exposed to flooding are:China,India,Argentina,Russia,Germany
In the event of flooding, the five G20 countries where people and economic assets are most vulnerable to harm are:Indonesia,Brazil,India,Russia,Mexico
OneWeb signs unveils insurance programme for its satellites
Marsh arranged a multi-launch insurance programme covering physical loss or damage to the remaining GEN 1 satellites and launch vehicles with a global panel of leading specialist insurers. The insurance programme underpins the next stage in the development of OneWeb’s global communications capabilities.
SCOR’s announces changes to its Group Executive Committee
Laurent Rousseau, Chief Executive Officer of SCOR, comments: “These internal promotions bear witness to the depth of SCOR’s talent pool and the strong competencies of our rising leaders. We are mobilised to accelerate the company’s profound transformation provided for in the “Quantum Leap” strategic plan and accelerate long-term value creation for all our stakeholders.”