The rapidly warming planet has led to unusual spikes in air and sea...
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Britain to tap pensions for infrastructure as Thames Water toils
Britain's financial services were largely cut off from the EU due...
Siemens energy’s turbine troubles rattle wind sector
Siemens Energy shocked the wind sector in late June when it warned...
Discovery of new risk with Boeing 737 to prolong grounding
The risk was discovered during a simulator test last week and it is not yet clear if the issue can be addressed with a software upgrade or will require a more complex hardware fix, sources with knowledge of the matter told Reuters.
Investors with $34 trillion demand urgent climate change action
“It is vital for our long-term planning and asset allocation decisions that governments work closely with investors to incorporate Paris-aligned climate scenarios into their policy frameworks and energy transition pathways,” the statement said.
Russell Higginbotham to become new Swiss Re CEO Reinsurance Asia and Regional President
Russell Higginbotham is an experienced leader who has been with Swiss Re for close to 25 years in various roles and has deep familiarity with Asia Pacific.
Lloyd’s underwriters team up to “insure the uninsurable” with a £53m capacity
The market-led solution, led by senior underwriters from Tokio Marine Kiln, Beazley, MS Amlin, Talbot, Liberty Specialty Markets, Hiscox, Ascot, Chubb, Chaucer, Brit, Antares and Apollo will trial new types of insurance for complex and non-standard risks, including, but not limited to, intangible assets and supply chain risks, or mishaps caused by artificial intelligence.
Rivals ride rising rates as Lloyd’s abandons some ship insurance
Premiums for marine insurance, which until 2018 had fallen for years due to rising competition and lower claims, are increasing after a surge in catastrophe losses in the past two years and growing geopolitical tensions..
Persian Gulf oil shipments now cost more than $500,000 to insure
Underwriters are now aiming to charge anywhere from $150,000 to $325,000 to cover a cargo valued at $130 million, the people familiar with that market said. Until this week, the same cover cost $1,000 or less. Insuring the tanker itself now costs in excess of $200,000, based on a $75 million vessel. That’s up from less than $30,000 at the start of 2019.
Trump moves to force hospitals, insurers to disclose Prices
The Trump administration has advocated for bringing down health-care costs by making prices more visible, boosting competition and reducing regulation. The approach contrasts with proposals from many Democratic presidential candidates to expand Medicare, the government health-insurance program for older Americans, to the broader population.
Liberty Mutual Insurance decides not to insure Adani’s controversial $16.5bn Australian coal mine
10 of the world’s largest insurers and reinsurers, on serious environmental concerns,had earlier refused to provide support for the development of Gautam Adani owned Adani Group’s $16.5bn Carmichael coal mine and rail project in Clermont Town, Central Queensland.
India becomes investment darling for sovereign wealth, pension funds
“Almost every jurisdiction in the western world is raising the bar for entry for foreign investors but in India it’s the other way round. There’s also the attraction of the demographics and a lot of assets that sovereign funds like, such as infrastructure, where there’s a huge appetite for foreign funding.”
Tesla’s Autopilot System Confuses Drivers About Extent of Automation: Safety Report
Chief Executive Officer Elon Musk has billed Tesla as a leader in autonomous driving, telling investors last month that the technology will be “transformative” and a catalyst for the company to eventually be worth a half-trillion dollars.