The erstwhile mogul contends in court filings he paid millions to Chubb and other insurers for more than 70 policies purchased to protect against “a wide range of liability.” The companies have ignored his assertions of “non-liability” for the women’s claims “without factual proof necessary to substantiate their refusals to extend coverage.”

Yuan Linjiang, Chairman of China Reinurance Corporation, called for the establishment of a joint insurance mechanism to deflect major risks as a single company may not be able to cover the giant projects under the initiative with enormous investment and long construction period

IAG, which specialises in motor and property insurance, has invested about A$850 million in the region since 1998 and has a presence in five Asian markets – Thailand, Vietnam, Indonesia, Malaysia and India

“Banning the sale of new petrol and diesel vehicles by 2030, providing support to deliver Clean Air Zones in cities and introducing a national vehicle renewal scheme will dramatically improve our air quality and our health,” said Khan, who is from the opposition Labour Party.