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Insurers seek to exclude US, UK Ships From Red Sea Coverage
“Underwriters are adding clauses saying no US, UK or Israeli...
Japan revokes certification for 3 models of Daihatsu after safety scandal
The discovery in early 2023 that a half dozen models might be...
China’s Ant Group gets nod for the world’s largest IPO of $35 billion
Ant, the fintech company backed by Chinese e-commerce group Alibaba Group Holding, plans to list simultaneously in Hong Kong and Shanghai in the coming weeks, sources have said.
Italy tax police raid Generali, state railway offices in insurance probe
A source close to the probe said Wednesday’s raid was part of an investigation Rome prosecutors are carrying out into whether Generali was awarded contracts in return for generous insurance policies granted to a series of top FS managers.
Monsanto loses final appeal over French farmer’s weedkiller accident
The farmer has argued that the fumes he inhaled from the weedkiller Lasso, a product that was subsequently withdrawn from the French market, caused neurological problems, including memory loss, fainting and headaches.
Insurers drop appeal against UK COVID-19 payout ruling on three policies
appeals linked to the Resilience, Eaton Gate Retail, and Eaton Gate Pubs & Restaurants policies have now been dropped, legal documents show, raising hopes that hundreds of vulnerable businesses could see their claims processed without further delay.
A spokesman for RSA, one of the largest of the six insurers, said it would work with broker Marsh to make interim payments where appropriate.
Businesses across the world have been locked in disputes with insurance companies over pandemic-related payouts.
Number of South Koreans dying after flu shot rises, prompts vaccine worries
South Korea’s vaccines come from a variety of sources. Manufacturers include local drug makers GC Pharma, SK Bioscience and Ilyang Pharmaceutical Co, along with France’s Sanofi and Britain’s Glaxosmithkline. Distributors include LG Chem Ltd and Boryung Biopharma Co. Ltd., a unit of Boryung Pharm Co. Ltd..GC Pharma, LG Chem, SK Bioscience and Boryung declined to comment. Ilyang Pharmaceutical, Sanofi and GSK could not immediately be reached for comment.
FTLife and Munich Re announce collaboration on digital underwriting
The new collaboration will allow FTLife to use Munich Re’s SaaS digital automated underwriting solution – ALLFINANZ SPARK (“SPARK”) – to offer a much-enhanced digital experience for customers, including shorter turnaround times for issuing policies. It is a significant advance in the digitalisation of FTLife’s underwriting process.
Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to cover Mutuals
Picnic will commence underwriting on Jan. 1, 2021 and would initially provide re/insurance support to the innovative mutuals that Picnic’s parent, Picnic Labs, forms and develops in Australia and New Zealand.
Battery fires put BMW and Ford on back foot just as electric vehicles take off
While EVs don’t invoke the same instinctual distrust as self-driving cars or flying taxis might, they do require a leap of faith for some consumers. A younger, tech-savvier population is one reason why China is the world’s biggest EV market, Jato Dynamics analysts said in a report earlier this week, with consumers in Europe and the US more likely to stick with what they know.Chemical Cocktail
World trade rebounding slowly, outlook uncertain: U.N. report
Global trade recovered somewhat in the third quarter, when it was estimated at about 4.5% less than in the same period a year ago, the agency said in its latest update.
“Trade in home office equipment and medical supplies has increased in Q3, while it further weakened in the automotive and energy sectors,” UNCTAD said. Growth in the textiles sector was also strong.
Less carbon, more electric vehicles: automakers prepare for potential Biden win
Trump’s and Biden’s policies for autos and transportation diverge, presenting automakers with very different sets of risks and rewards.
f elected, Biden is expected to quickly reinstate the legal basis for California’s zero-emission vehicle rules and begin the process of reversing the Trump administration’s decision to ease fuel efficiency and carbon emission requirements through 2025.
Automakers could also face sharply higher penalties for failing to meet fuel-efficiency requirements. The Trump administration rolled back those penalties, which the industry said saved at least $1 billion in annual compliance costs, but a federal appeals court in August reversed the administration action.