US District Judge Colleen McMahon imposed the sentence Wednesday in...
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US to decide whether to OK GM self-driving car deployment plan
The petition filed in February 2022 seeks government approval to...
China issues temporary rules for generative AI services
The Cyberspace Administration of China, which released the set of...
U.S. State department adds Kidnapping Risk to travel advisories
The 35 countries making the initial list for the risk of kidnapping and/or hostage taking are: Afghanistan, Algeria, Angola, Bangladesh, Burkina Faso, Cameroon, Central African Republic, Colombia, Democratic Republic of the Congo, Ethiopia, Haiti, Iran, Iraq, Kenya, Lebanon, Libya, Malaysia, Mali, Mexico, Niger, Nigeria, Pakistan, Papua New Guinea, Philippines, Russian Federation, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Turkey, Uganda, Ukraine (in Russian-controlled eastern Ukraine), Venezuela, and Yemen
Foreign insurers eye China’s $1.6 trillion private pension business
China’s pensions assets, including those managed by the state, grew by 20 percent in 2017 to 11 trillion yuan ($1.64 trillion) and are expected to more than quadruple by 2025, consultancy KPMG said in a report this year.Underlining the potential, consultant Willis Towers Watson said China has one of the lowest ratios of private-employee annuity pension assets to GDP among major economies at 1.5 percent. That compares with 120.5 percent of GDP in the United States and more than 130 percent in Australia.
Reinsurance brokers permitted to open foreign currency accounts: RBI
“… reinsurance and composite insurance brokers registered with Irdai may open and maintain non-interest bearing foreign currency accounts with an AD bank in India for the purpose of undertaking transactions in the ordinary course of their business,” the RBI said.
India delays May order for Iran oil, awaits clarity on US sanctions: Report
Washington had given a six-month waiver to eight nations including India, allowing them to import some Iranian oil until early May. India, Iran’s top oil client after China, was allowed to buy about 9 million barrels a month.
Family of American killed in 737 Max crash sues Boeing, Ethiopian Airlines
The complaint was filed in U.S. federal court in Chicago by the parents of Samya Stumo, who lawyers said was on a work trip when Ethiopian Airlines Flight 302 crashed on March 10 soon after taking off from Addis Ababa, killing all 157 on board.
Air pollution kills 1.2 mn Indians in a year, third biggest cause of death
Worldwide, air pollution is responsible for more deaths than many better-known risk factors such as malnutrition, alcohol use and physical inactivity, according to the annual report.
AIG CEO Duperreault was paid $20.9 million in 2018, half of 2017 compensation
At its annual meeting in 2018, only 62 percent of shareholder votes backed the pay, an unusually low number compared with the roughly 95 percent support that major U.S. companies typically receive in such votes. So-called say-on-pay votes are non-binding but low results often spur directors into action to guard against losing their own seats.
3 major automakers partner to develop autonomous vehicle safety standards, testing
General Motors Co., Ford Motor Co. and Toyota Motor Corp. said in a statement they are joining forces with automotive engineering group SAE International to establish autonomous vehicle “safety guiding principles to help inform standards development.”The group will also “work to safely advance testing, pre-competitive development and deployment,” they added.
Apr 1 renewals:Rational pricing highlights reinsurance market’s stability and maturity,Willis Re
GIC Re continued supporting proportional programs in India but took strong measures to improve the pricing and underwriting on the underlying portfolios. Foreign reinsurers also showed optimism in supporting proportional programs.
More US industries depend on weather tracking
About one-third of the U.S.’s $18 trillion gross national product is generated by industries vulnerable to changes in the weather. There were 14 weather events that caused at least $1 billion in damages in the U.S. last year, according to the National Centers for Environmental Information. That’s more than the 6.2 per year average from 1980 to 2018.