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Lloyd’s Register drops ships of top Indian carrier of Russian oil
A major U.S. insurer, the American Club, also told Reuters it was...
Climate change will speed up inflation in next decade, says ECB
Climate change poses risks to price stability by having an upward...
Superbugs to ‘kill millions’ by 2050 unless countries act
As humans consume ever more antibiotics – either through prescriptions or agriculture and livestock products given medicines to stave off infection – strains of bacteria are developing that resist the effects of drugs designed to kill them.
Chinese big data industry boosts futuristic start-ups
One of the systems being supported by the big data industry is a smart judiciary assistant that can quickly scan through past judgments and case details to pull out relevant legal points, helping judges to arrive at decisions much faster.The project, being piloted in Guiyang, the capital city of Guizhou, can also help citizens know if they are likely to win a case.”If you are hit (in a road accident) and you want to take the case to court, with the smart assistant you can get an idea if you will win the case,” said He Yuan, general manager of China Big Data, one of the biggest big data companies in the area.
Google hears protesters, changes sexual harassment policies
Arbitration will become optional for individual sexual harassment and sexual assault claims, Google said, enabling lawsuits on those matters. It also said employees who fail to complete mandatory sexual harassment training will be docked in performance reviews.
Standard Club Asia and Ping An P&C Insurance collaborate to underwrite P&I risks in China
Under the terms of the agreement, Standard Asia and Ping An P&C will jointly offer Protection and Indemnity (P&I) cover to China’s rapidly-growing shipowning sector, with a focus on owners undertaking ocean-going voyages.
Claims against electric scooter firms pile due to deaths & injuries
Electric scooters have appeared in more than 100 cities worldwide with the startups aiming to usher in a new, environmentally friendly era of micro transportation. The rapid rise of the scooter revolution has been plagued by controversy, complaints and concussions. Citing fears over public safety, officials in some cities, including San Francisco and Santa Monica, have temporarily banned electric scooters and filed criminal complaints against the companies behind them for operating without a business permit. Some frustrated vigilante residents have tossed scooters into the ocean, buried them in the sand and even set them on fire
RenaissanceRe to acquire Tokio Millennium Re in $1.5 billion deal
Kevin O’Donnell, president and CEO of RenaissanceRe, said the deal will increase his company’s scale, broaden its reach and provide a deeper customer base. O’Donnell thanked State Farm for agreeing to broaden its relationship with RenaissanceRe.
Tokio Marine Holdings President and Group CEO Tsuyoshi Nagano said selling TMR will allow Tokio Marine Group to “focus on its primary insurance businesses globally, whilst strengthening its relationship” with RenaissanceRe.
China’s Biggest Insurer, Ping An, Plans $2B IPO of Health Tech Unit
Ping An Healthcare Technology covers the medical data of more than 800 million Chinese citizens, its parent company’s deputy chief executive officer, Jessica Tan, told investors in November last year. It has been able to help local governments in 250 Chinese cities reduce medical insurance expenditures an average 10 percent by preventing fraud, Tan said at the time.
Insurers rank Amazon as the world’s most potentially disruptive platform
Striking partnerships is seen as a way of overcoming these, with 90% of the respondents saying this will also be an important opportunity for insurers’ distribution strategies.However, there is no guarantee that platforms’ partners of choice will be today’s primary insurers, with 90% of the respondents anticipating all risks to be passed onto reinsurers.
Hurricane Michael to hit US economy by $15bn: Aon
Cyclone Titli in India; resultant storm surge, high winds and inland flooding killed at least 85 people and prompted economic damage above USD920 million
Munich Re returns to profit in Q3, affirms 2018 guidance
FRANKFURT: German reinsurer Munich Re returned to profit in the third quarter and affirmed its guidance for 2018, recovering from a spate of natural catastrophes a year ago. Net profit came to 483 million euros ($553 million), it said on Wednesday,...