Jack Weast, vice president of autonomous vehicle standards at Intel Corp’s Mobileye, in an interview on Friday said the auto industry was assembling a vast list of likely road scenarios and human behavior that every driverless car should be able to navigate safely. Government agencies and insurance companies are part of that process, Weast said.

IOC seeks insurance compensation for delayed Tokyo Olympics

Jun 5, 2020

An “open discussion” is under way with insurance brokers, the IOC’s Olympic Games operations director Pierre Ducrey said Thursday. The aim is “to try and find the right level of compensation to help us bear the cost of having to wait another year,” Ducrey said.

The IOC pays for insurance against the cancellation of an Olympics but it has been unclear if its policy covers the one-year postponement forced by the coronavirus pandemic.

U.S. insurers ask Treasury, Fed to back pandemic payouts for trade credit coverage

Jun 5, 2020

Trade credit insurance, which covers $600 billion in U.S. business transactions annually, protects businesses selling goods and services from the risk that insolvent buyers will not pay them. Washington lobbyist David Ross spoke with Steven Seitz, director of the Treasury’s Federal Insurance Office on a May 27 call about support for the niche industry, James Daly, chief executive officer of Euler Hermes Americas, an Allianz SE unit, told Reuters.

Trade credit insurers want about $60 billion in government support, as shared claims payouts, Daly said. Policyholders would pay additional premiums for the backing.

Ocean shipping shrinks as pandemic pummels retailers

Jun 5, 2020

Many are also cutting down the number of voyages and providing short-term storage for clients as the industry, which includes heavyweights like Maersk, MSC and Hapag-Lloyd, faces its biggest downturn since the 2008 financial crisis.

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