Insurance
Russia’s Threat to ‘Strike’ Western Satellites Tests Laws of War in Space
A Russian official’s threat this week to “strike” Western satellites aiding Ukraine highlights an untested area of international law, raising concerns among space lawyers and industry executives about the safety of objects in orbit. “Quasi-civilian infrastructure may be a legitimate …
Read More Credit Suisse to Sell Most of Securitized Product Unit to Apollo, PIMCO
Credit Suisse Group AG has signed an exclusivity agreement with a group of investors led by Apollo Global Management Inc. to sell the bulk of its securitized products group business. If the deal happens, the group, which also includes Pacific …
Read More Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes
Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5 billion in claims related to …
Read More Turning London’s Financial Center Into ‘Wild West’ Would Be Self-Defeating: BoE’s Woods
Turning the City – London’s financial district – into a “Wild West“ to attract more business after Brexit would be self-defeating as maintaining financial stability is key to competitiveness, Bank of England Deputy Governor Sam Woods said on Thursday. Britain’s …
Read More Dubai Aerospace Sues 11 Insurers, Including Lloyd’s, AIG, Chubb, for Jets Stuck in Russia
Aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd’s of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600 million for 19 aircraft stuck in Russia. The …
Read More Anger Building over Delays in Replacing Faulty CPAP Devices
A massive recall of millions of sleep apnea machines has stoked anger and frustration among patients, and U.S. officials are weighing unprecedented legal action to speed a replacement effort that is set to drag into next year. Sound-dampening foam in …
Read More Florida Cat Fund May Borrow Billions Next Year, Even Without Another Storm, Report Says
The Florida Hurricane Catastrophe Fund is well equipped to handle losses from Hurricane Ian, which are now estimated to cost the fund about $10 billion, but it could mean the fund will have borrow billions next year – at steep …
Read More New Jersey Beach Town Bulldozes State Over Rebuilding Sand Dues, Building Sea Wall
NORTH WILDWOOD, N.J. (AP) — When the remnants of Hurricane Ian passed by the Jersey Shore earlier this month, chewing huge chunks out of protective sand dunes, North Wildwood asked New Jersey environmental officials for permission to do an emergency …
Read More Police Think Crash That Killed 4 Teens May Be Linked to TikTok Challenge
A car crash in Buffalo, N.Y. that left four teenagers dead may have been linked to a TikTok challenge, a police commissioner said. A total of six teenagers were in a speeding Kia that crashed about 6:30 a.m. Monday, Buffalo …
Read More Kansas Undersheriff Faces Trial in Fatal Beanbag Shooting
An undersheriff in rural Kansas faces a manslaughter trial Monday for fatally shooting an unarmed man with a homemade beanbag round out of his personal shotgun, a case that comes amid a national reckoning on police violence. Jury selection will …
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