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Aon, Lloyd’s and VIG in pact to commit to Ukraine insurance
The commitment follows an announcement earlier in the day by...
Ghosn to fight ‘to the end’ as sues Nissan in Lebanon
Carlos Ghosn,Former Nissan chairman Carlos Ghosn, once a titan of...
Insurers face large claims after second Boeing 737 MAX crash
Willis Towers Watson was the insurance broker for Ethiopian Airlines, while Chubb was the lead insurer, a Willis spokeswoman said on Monday. A Chubb spokesman declined to comment.Britain’s Global Aerospace was the lead insurer for Boeing and also for Lion Air, which operated the plane that crashed in October, said Global Aerospace Chief Executive Nick Brown.’Insurers typically form a consortium to share the risks of large claims, with the lead insurer taking a larger proportion of the risk. The insured value of the plane itself was likely around $50 million (£38 million), according to industry sources.
China Re launches renewable energy consortium for offshore windfarm risks
The consortium covers construction all risks (CAR), erection all risks (EAR) and third-party liability (TPL) and can provide capacity of up to USD 225M per risk.
Chinese carriers, Ethiopian Airlines suspend use of Boeing 737 MAX 8 aircraft after crash
Indian aviation regulator DGCA will also seek information from Boeing as well as Jet Airways and SpiceJet operating Boeing 737 MAX aircraft in the wake of plane crash in Ethiopia, according to senior official.
Hannover Re announces the launch of insurtech initiative
The online platform provides access to a diverse range of solutions spanning the entire value chain, propelling the insurance industry forward by making it easier to find and implement new technology.
157 feared dead after Nairobi-bound Ethiopian airline crashes
The airline said: “Search and rescue operations are in progress and we have no confirmed information about survivors or any possible casualties.”Aviation websites identified the aircraft as a new 737 MAX 8, the same plane that crashed in Indonesia in October, killing 189
Hybrid car-plane, van with gemstones: Luxury takes centre stage at Geneva Motor Show
The Battista is the first so-called hypercar – which are ultra-light, ultra-fast aerodynamic cars – that is fully electric, according to a Pininfarina sales rep on the floor.Only 150 Battistas will be made, each with a 1,900 horsepower engine can go from 0 to 100 kilometres (0-62 miles) per hour in less than two seconds. The vehicle, which carries a price tag of around two million euros ($2.2 million), was conceived for enthusiasts who have “money … and a really great passion for cars,” the sales rep said.
EU and UN Women partner to boost women’s economic rights and opportunities in Asia
Anna-Karin Jatfors, UN Women’s acting Regional Director for Asia and the Pacific, said: “Women make crucial contributions to the region’s economies. WeEmpower Asia will create transformative partnerships between private sector companies, female entrepreneurs and women-led businesses, and policymakers to drive social change. It will benefit not only women, but also societies and economies as a whole.”
Pool Re’s new initiative to make businesses more resilient to terrorism in UK
Commenting on the collaboration, Minister of State for Security, Ben Wallace MP, said: “This project is one of the first of its kind – a collaboration between the police, the insurance sector, and the Government that will help to keep the country safe and secure. If we are to properly respond to the terrorist threat, we need to ensure everyone plays their part. That is why partnerships like this one are so vital and I thank Pool Re for their leadership.”
Lloyd’s appoints Hayley Spink as head of global operations
The appointment reflects Hayley’s global operations experience as well as her immense contribution as Brexit Programme Director, where she has been instrumental in establishing Lloyd’s Brussels subsidiary to enable the Lloyd’s market continued access to the European Economic Area (EEA) post-Brexit.
World’s biggest sovereign wealth fund to decide on dumping oil
The decision is also important given the fact that the positions taken by the fund — which controls 1.4 percent of global market capitalisation — are closely watched by other investors.In another significant move, the fund has already pulled out of the coal industry, both for environmental and financial reasons.