Hundreds of claims have also been filed by holders of Credit...
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Insurers reviewing Black Sea ship cover after Russia suspension
“Annual cover remains in place but voyages to listed areas will be...
South Korea flood death toll rises to 40, Yoon blames botched responses
The incident fueled questions over South Korea’s efforts to prevent...
China says to further open up banking and insurance sectors
China also plans to remove a requirement for foreign banks to have $20 billion in assets before being able to set up a branch, he added.
IP emerges as a top 10 risk, insurance covers only 16 percent of $1B in potential losses:Report
“One of our key findings is that threats to a company’s intangible assets are not in proper balance with that company’s insurance protection,” said Lewis Lee, Global Head and CEO of Aon’s IP Solutions. “Understanding how to properly value, exploit and insure intangible assets is exponentially heightened in the digital era. Intangible assets are a Board of Director level issue.”
SCOR unveils steps protecting climate and promoting energy transition
SCOR is proactively supporting its clients in the implementation of their climate change strategies. This support is based on detailed underwriting grids, which evaluate both qualitative and quantitative risk factors and encourages insureds to adopt proper conduct in this matter.
Stephen Catlin launches a specialty entity for complex risks,invests $1.8bn capital
Stephen Catlin said: “The launch of Convex distils vast industry experience and client focus to create the insurance company of the future. We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes and we are well equipped to prosper in a challenging market. We are thrilled to have the support of Onex and our co-investors and believe they will be valuable partners to us as we build our business.
Privacy practices probe could cost facebook up to $5 billion
Under the terms of the 2011 settlement with the US Federal Trade CommissionC, Facebook agreed to get user consent for certain changes to privacy settings. The agreement stemmed from claims that it deceived consumers and forced them to share more personal information than they intended. That complaint arose after the company changed some user settings without notifying its customers.
Direct-to-Consumer model gains traction in US auto insurance market
What’s driving this trend? In a word: consumerism. The shift in consumer behavior in the auto insurance industry is quickly moving from face-to-face to digital as large, well-capitalized insurers give consumers the tools to shop as they would for any other consumer product. Increasingly, those insurers who get that consumer model right are the ones who will dominate the market.
Tesla to launch insurance products in May
“The answer is yes we are creating a Tesla insurance product and we hope to launch that in about a month. It will be much more compelling than anything else out there,” Tesla CEO Elon Musk said
Data and alternative risk finance methods are boosters for risk managers:Report
“By effectively marshalling data and risk modeling tools, organizations can better understand changes in their risk profiles and risk bearing capacity allowing them to access the opportunities presented by the growing levels of capital available for risk finance,” said Brian Elowe, North American Chief Client Officer, Marsh.
Activist fund fails to oust CEO of reinsurer SCOR
Shareholders approved Kessler’s 6.5 million euro ($7.2 million) pay package by a much thinner margin, with 54 percent voting in favor of his compensation for 2018. They approved his 2019 compensation with almost the same margin.
S&P and Fitch warn UK rating still at risk from a no-deal Brexit
The delay averted the risk of an immediate no-deal Brexit which would deliver a shock to the world’s fifth-biggest economy but the uncertainty remains, weighing on many companies which have cut back on investment