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Titanic sub: victims’ families could still sue despite liability waivers
Waivers are not always ironclad, and it is not uncommon for judges...
Hurricane Outlook: 2023 to consist of 12 to 17 named storms, 5 to 9 hurricanes and 1 to 4 major hurricanes
“The upcoming Atlantic hurricane season is expected to be less...
SoftBank said to near deal for $9.6b stake in Swiss Re
There may also be a strategic logic. The purchase potentially would create an in-house insurer for SoftBank’s many stakes in the so-called gig economy, from Uber Technologies Inc. to WeWork Cos. Son could even potentially disrupt the$700 billion motor insurance market that is the most important business line for reinsurers.
Laurent Rousseau to become Deputy CEO of SCOR Global P&C
Douglas Lacoss, who currently serves as Chief Reserving Actuary at SCOR Global P&C, is promoted to Chief Underwriting Officer for the EMEA treaty business, replacing Laurent Rousseau.
Root Insurance Closes $51 Million Investment to Expand Customized Auto Insurance
Root is a full-stack automobile insurance company founded on the principle of fundamental fairness. While most car insurance companies rely solely on demographic data like age, occupation and credit score to set rates,
Land degradation may affect 3.2 billion people globally: Report
“With negative impacts on the well-being of at least 3.2 billion people, the degradation of the earth’s land surface through human activities is pushing the planet towards a sixth mass species extinction,” said Robert Scholes of South Africa, co-chair of the assessment with Luca Montanarella of Italy.
B3i founders form blockchain startup
B3i Services AG’s purpose is to provide insurance solutions on a blockchain platform that substantially improves efficiency across the value chain of the re/insurance industry — in some cases up to 30 percent. These innovative solutions benefit both insurance companies and customers through improved speed, transparency, quality, security, and cost.
Uber’s Self-Driving Cars Insured by Old Republic
Any litigation that arises from the accident, the first fatality involving a fully autonomous vehicle, could pit the ride-hailing service against technology suppliers and the vehicle’s manufacturer, legal experts said. It could also provide a window into confidential indemnification agreements that companies developing self-driving car systems may have reached to shield themselves legally.
Last three years hottest on record, severe weather hits 2018: U.N.
Atlantic hurricanes and monsoon floods in India contributed to make 2017 the most costly year on record for severe weather and climate events, the U.N.’s World Meteorological Organisation (WMO) wrote in its annual report on the global climate.
Facebook User Sues Over Personal Data Release to Cambridge Analytica
Price seeks damages for all U.S. Facebook users whose information was harvested without authorization, and asserts claims of negligence and violations of California unfair competition laws.
Facebook ‘made mistakes’ on Cambridge Analytica, says Zuckerberg
In a Facebook post, Mr. Zuckerberg said it will ban developers who don’t agree to an audit. An app’s developer will no longer have access to data from people who haven’t used that app in three months. Data will also be generally limited to user names, profile photos and email, unless the developer signs a contract with Facebook and gets user approval.
Lloyd’s announces an aggregated market loss of £2bn for 2017
key financial figures are:
• Aggregated market pre-tax loss of £2bn (2016: Pre-tax profit of £2.1bn)
• Gross written premiums of £33.6bn (2016: £29.9bn)
• Major claims for 2017 were £4.5bn (2016: £2.1bn)
• Net investment return of £1.8bn (2016: £1.3bn)
• Combined ratio of 114.0% (2016: 97.9%)