It was the fourth such environmental disaster in a year, following...
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Maersk says Red Sea disruption could cut Asia-Europe capacity by 20%
The disruptions cause ripple effects across several other container...
Chubb to pay $350 million to Maryland govt for Baltimore Bridge collapse
Lloyd’s of London insurers Hiscox and Lancashire do not expect...
French Reinsurer SCOR spurns $9.6B acquisition Offer from Insurer Covea
Covea, a French mutual insurer that already has an 8.2 percent stake in SCOR, said Tuesday that it offered to buy the remaining stock for 21 percent more than the company’s previous closing price. SCOR responded that the bid is “fundamentally incompatible” with its strategy of staying independent
Ratings agencies say reinsurance rates to rise by less than 5 pct in 2019
“There is still too much capacity as far as pricing conditions are concerned, we think the (pricing) momentum is fading out,” S&P Global Director David Masters said
Crytocurrency storage firm Kingdom Trust obtains insurance through Lloyd’s
The move by Kingdom Trust, which has $12 billion in assets, is the latest example of a once-reticent insurance industry stepping up to offer protection to companies that store cryptocurrency, a volatile and loosely regulated, but rapidly growing business.
Hannover appoints Swiss Re’s Jean-Jacques Henchoz as new CEO
Since 2011, Jean-Jacques Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Reinsurance Company, Zurich, taking responsibility for both the life and non-life business of Swiss Re in this region.
Kerala Floods:Rs100 cr insurance claims, economic losses at Rs19,500 cr
The non-life insurers at the instance of General Insurance Council are meeting on Monday in Thiruvananthapuram.to take stock of the situation. Regional managers or the zonal chiefs of the general will be attending this meeting, said AV Girija Kumar, CMD, Oriental Insurance
Catastrophes cause global economic losses of $36 bn in H1 2018
Total global economic losses from disasters in H1 2018 were USD 36 billion, significantly down from USD 64 billion in
H1 2017 and well below average Global insured losses from disasters were USD 20 billion in H1 2018, down from USD 30 billion in H1 2017
Indian banks inadequately prepared for cyber attacks: Experts
“While there is growing awareness to regularly update an organisation’s cyber preparedness and defence mechanisms, a large number of institutions wake up to this reality only post an incident which often leads to a loss of reputation and/or financial misappropriation,” Nikhil Bedi, Partner, Deloitte India
July drought and wildfires likely to result in minimum €3.5bn economic loss in Europe: Aon report
Michal Lorinc, an analyst within Impact Forecasting’s Catastrophe Insight team, said: “The month of July was marked by record-breaking heat, deepening droughts, and destructive wildfires in areas all around the globe. Nearly every major continent recorded some type of peril impact that will lead to a major cost to agricultural interests. All eyes are on the looming possibility of an El Nino return by the end of the year, which could exacerbate these types of impacts.”
Merger Deals Now Include #MeToo Sexual Harassment Clauses
“We do market research, search engine and social media assessments to evaluate the reputation of any brand,” Belisle said in an interview. “Doing that helps us to uncover risks and figure out where the opportunities might be for a company.” Gaining that perspective on a brand can give private equity firms an advantage when considering where to invest — and an edge over their peers in a bidding process.
Tests expose risks of Semi-Autonomous driving systems
The Insurance Institute for Highway Safety, in a paper titled “Reality Check,” issued the warning Tuesday after testing five of the systems from Tesla, Mercedes, BMW and Volvo on a track and public roads. The upshot is while they could save your life, the systems can fail under many circumstances.