The criminal case comes as efforts grow worldwide to tighten...
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Cat bond market is defying the global selloff with record returns
Big reinsurers like Swiss Re and Munich Re, as well as some...
Howden launches world first insurance innovation hub with £500m of delegated underwriting capacity
As new funding for the global insurtech sector continues to fall...
Pakistan Jet crashed shortly after bizarre landing attempt at 327 KPH
It’s not yet clear why the two jet engines quit after functioning well enough for about two minutes to lift them about 3,000 feet (915 meters) above the runway. Engines have become so reliable that losing two at the same time is almost always because of some common factor, such as damage from hitting a runway or a problem with the fuel supply.
Fed’s Powell fears second coronavirus wave, reiterates crisis-fighting pledge
WASHINGTON: Federal Reserve Chair Jerome Powell on Friday said a potential surge in U.S. coronavirus infections could derail the recovery from the deep downturn triggered by the pandemic, even as he reiterated the central bank’s vow to keep fighting the crisis....
Lloyd’s of London considers part-virtual underwriting room
Underwriters and brokers say the market, which employs nearly 50,000 people, has run smoothly with greater use of existing electronic systems and they are in no hurry to return to the office.
Trump signs executive order aimed at regulating social media companies
Trump’s actions seek to blunt Section 230 of the Communications Decency Act which immunises websites from legal liability for the comments of their users. According to the President, Twitter’s fact checks amount to political activism and social media companies should not be shielded from lawsuits for what is posted on their platforms.
Monsoon rains forecast to arrive on India’s southern coast around June 1
Weather conditions are “very likely to become favourable from June 1, 2020” for the monsoon onset over the southern state of Kerala, the India Meteorological Department (IMD) said in a statement.The IMD had earlier forecast the arrival of monsoon rains over Kerala on June 5, four days later than usual
Pek Hui Zhi joins as Asian terrorism underwriter in Markel International
Singapore/London Markel International,specialist insurer has announced the appointment of Hui Zhi Pek as terrorism underwriter for Asia. Pek Hui ZhiPek , who joined the Market International on 4th May, holds more than 12 years of industry experience and...
Trump executive order to reduce liability shield for social media giants
The companies’ protections against lawsuits apply when they act “in good faith” in taking down or limiting the visibility of inappropriate tweets, videos and other social media posts, but the law doesn’t define bad faith. The draft order would push the Federal Communications Commission to issue rules clarifying the issue, potentially allowing users to sue over takedowns if they were inconsistent with companies’ terms of service, did not provide enough notice or meet other suggested criteria.
NY Stock Exchange traders, staff sign liability waivers for reopening
The 100 or so traders, regulatory and operational staff who headed into the building were told to avoid public transportation and were screened for signs of the virus at the door, where they had to sign a liability waiver.
Global airline industry struggle to stay afloat
Strict international travel restrictions have been put in place, people are worried about flying, and thousands of airline workers are at risk of losing their jobs.Most of the major global airlines say they’re in desperate need of financial relief or the industry might be at risk of collapsing.
U.S. sanctions advisory raises hurdles for global maritime industry
U.S. guidelines seeking constant location monitoring of ships, and investigations by insurers of gaps in that tracking, may also prove difficult, industry officials said. The advisory notes that weather often interferes with AIS transponders, and ship captains should have the discretion to go dark to avoid pirates or militants on the high seas.