David Lochridge, OceanGate’s director of marine operations, wrote...
Category:
International News
Latest
Britain says insurer capital rule changes to start by end of 2023
The risk margin refers to the potential cost for a failing insurer...
Transformative industry trends present $200 billion opportunity for re/insurers: Aon Report
Sherif Zakhary, CEO of Aon’s Strategy and Technology Group, said:...
Health Protection Gaps in EMs:an opportunity for health insurers to serve the most vulnerable
Jad Ariss, Secretary General of The Geneva Association, said: “Healthcare funding is one of the biggest societal challenges of our time and the insurance industry can play a major role in offering sustainable solutions. Health protection gaps in emerging markets require flexible and creative approaches that address the needs of vulnerable people who have so far been denied suitable and affordable access to healthcare.”
New appointments within SCOR Global P&C underscore the group’s deep talent pool
Jean-Paul Conoscente, CEO of SCOR Global P&C2, commented: “Following the organizational changes announced in September 2018, SCOR Global P&C continues to adapt its structure to serve its strategy and be more client-centric. Today’s announcements confirm the depth of our talent pool and our desire to promote the personal and professional development of our existing teams.”.
Swiss Re says helped insure Boeing, Ethiopian Airlines
“We can confirm that we are part of the insurance panel that covers Boeing’s airline manufacturer liability policy and we also are a co-insurer of Ethiopian Airlines,” Swiss Re said in an emailed statement. It said it had not played a leading role in the cover but declined comment on contractual details.
Bengaluru, Chennai, Delhi among world’s cheapest cities to live in: Report
“Within Asia, the best value for money has traditionally been offered by South Asian cities, particularly those in India and Pakistan,” the EIU said. “To an extent this remains true, and Bengaluru, Chennai, New Delhi and Karachi feature among the 10 cheapest locations surveyed.”
Insurers waive terrorism exclusions for Christchurch shooting victims
“While our policies exclude acts of terrorism, AA Insurance will be providing cover for claims made following the attack in Christchurch on Friday,”
Tougher Asian markets need different approach to risk and insurance driven by data analytics
“Too often, we hear clients struggle to quantify the financial impact and likelihood of risks to their business. Today, companies need to know, with certainty, that the insurance strategy they have in place is exactly right for their business. With new and emerging risks on the accelerated rise, they need to adopt a data-driven and actuarial approach to support all aspects of their insurance procurement process to yield better business outcomes,” adds Scott.
PwC to pay $335 million over failed audits:U.S. regulator
U.S. District Judge Barbara Rothstein ruled in July that PwC failed to identify a long-running fraud between the bank and its largest customer, the mortgage lender Taylor, Bean & Whitaker. Both failed in 2009, and the FDIC alleged the bank helped Taylor conceal overdrawn accounts.
Global insurance M&A activity up 9% in 2018, may slow down in first half 2019:Clyde & Co
While the Americas remained the most active region for insurance sector M&A with 189 deals in 2018, there was a slight drop off in deal activity in the Americas in the second half of the year with 92 transactions, down from 97 in the first six months. The slowdown in the Americas in the second half of last year is indicative of heightened investor caution, and the legal firm predicts 2019 will be a year of two halves – a slowdown in M&A in some markets in the first six months, while the second half should see a return to form.
Boeing faces spate of Lawsuits after second 737 MAX 8 Crash
Boeing faces the prospect of substantial payouts to the families of passengers if it’s found responsible for both the Indonesia and Ethiopia crashes. But legal experts say the second one could prove even more damaging for the Chicago-based company. That’s because plaintiffs will argue the manufacturer was put on notice by the earlier tragedy that there was something dangerously wrong with its planes that should have been fixed.
Most Americans continue to be very afraid of Self-Driving cars: Survey
The survey also gauged public reaction to more limited uses of autonomous vehicles. Just more than half of U.S. drivers—53 percent—said they would be comfortable using fully self-driving vehicles as low-speed people-mover systems at airports or theme parks, free from the chaotic traffic of the open road. Even fewer Americans—44 percent—said they would be comfortable with autonomous delivery vehicles that haul food or packages, not passengers.