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South Korea flood death toll rises to 40, Yoon blames botched responses
The incident fueled questions over South Korea’s efforts to prevent...
She’s 47, anorexic and wants help dying, Canada will soon allow it
An expansion of the criteria for medically assisted death that...
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,...
AIG unit to exit Iran-related insurance
European insurers, reinsurers, brokers and shipping firms have been winding down Iranian business since May as the United States prepared to restore sanctions on insurance and reinsurance beginning on Nov. 4
U.S. Agencies Split Over Cell Phone Cancer Risk
“We believe that the link between radio frequency radiation and tumors in male rats is real, and the external experts agreed,” said John Bucher, the toxicology agency’s senior scientist
Crashed Lion Air Boeing Jet Previously Had Problems with Altitude, Speed Sensors
Erroneous sensors could be an explanation for the flight track data, said John Cox, president of Safety Operating Systems and a former airline pilot. But Cox and others cautioned that it’s too soon to say what happened on the Lion Air flight and some of the flight data — such as speeds that weren’t extreme and none of the highly abrupt maneuvers that preceded the Air France jet’s loss of control — may suggest some other cause