Citing the results of two new assessments of the health impact of...
Category:
International News
Latest
Property insurers’ ratings under pressure as risk rises: Morningstar
Insurers can opt to pay more for the same reinsurance package, or...
Allianz US unit ordered to pay $6 billion in securities fraud case
US District Judge Colleen McMahon imposed the sentence Wednesday in...
AIR Worldwide Develops Probabilistic Model for Global Cyber Risks
“Many insurers are challenged to understand how often various types of cyber incidents can occur and how they can affect the performance of their book. As a result, decisions on product development, underwriting, portfolio optimization, and capital allocation tend to be made with limited data, and too much weight is often put on intuition or broad assumptions. This is where probabilistic modeling can help the industry better manage cyber risk globally,” said Prashant Pai, vice president of cyber offerings at Verisk, the parent company of AIR Worldwide
Allianz Insurance Product Protects Firms Against Clean Energy Price Swings
The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts of wind projects, according to a blog post Tuesday. The contracts with the insurance giant Allianz SE reallocate weather-related risk away from corporate buyers of power
AXA XL gets in-principle approval for Brexit move
AXA XL said the Central Bank of Ireland (CBI) has approved, in principle, XL Insurance Company SE’s (XLICSE) move from the UK ahead of next year’s March 29 departure. As a Societas Europaea, XLICSE can also continue as the same legal entity in Ireland.
India and Bangladesh ink pacts for enhancing inland and coastal waterways connectivity
In an important understanding reached at between the two countries, the Standard Operating Procedure (SOP) for movement of passengers and cruise vessels on Inland Protocol route and coastal shipping routes have been finalised. These river cruise services are likely to commence between Kolkata – Dhaka – Guwahati – Jorhat and back.
Munich Re America Partners with BriteCore to Offer Personal Inland Flood Coverage in the U.S. to Insurance Carriers
“Many people don’t realize that their homeowners insurance policy typically excludes flood damage. If the property is located outside of a Special Flood Hazard Area (SFHA) or 100 year flood plain, flood risk may not even be top-of-mind for many people,” said Sanjay Mehrotra, Strategic Product Operations Manager, Munich Re America. “Partnering with BriteCore, we’ve made it easy for insurance carriers to offer a personal lines flood endorsement to their customers.”
Australia’s AMP sells life insurance arm at discount, bleeds funds
The 170-year-old company also revealed a sharp rise in client withdrawals from its Australian wealth management division in the three months to September, having admitted at a government-backed inquiry to charging customers for advice they never received and misleading regulators.
New global commitment to primary health care for all at Astana conference
“Although the world is a healthier place for children today than ever before, close to 6 million children die every year before their fifth birthday mostly from preventable causes, and more than 150 million are stunted,” said Henrietta Fore, UNICEF Executive Director. “We as a global community can change that, by bringing quality health services close to those who need them. That’s what primary health care is about.”
Time to upgrade Airline Black Boxes, says US Safety Board
In too many cases, the current two hours of sound on the cockpit voice recorders hasn’t been enough to aid investigations, the National Transportation Safety Board said in a recommendation posted to its website Thursday. The board cited several dozen instances in which the recorders were overwritten before they could be brought into the lab.Investigators want the requirement to be increased to 25 hours of sound, and are seeking retrofits for current aircraft by 2024.
Tokio Marine Kiln stops Hong Kong operations
This decision has been made after re-assessing the ongoing, challenging market for the Engineering, Marine Cargo and Marine Liability lines written out of Hong Kong which have made the cost of maintaining the office unsustainable.
French reinsurer Scor posts profit in defence against Covea bid
Paris: French reinsurer Scor delivered a third quarter net profit on Wednesday, saying this helped justify its rejection of last month’s 8.2 billion euro ($9.4 billion) bid by rival Covea. “This performance bears witness to the...