Insurance
‘Generali’ Sign Atop Insurer’s Skyscraper Offices Collapses in Milan
One of the giant Generali signs that crown the Italian insurer’s head offices in Milan collapsed on Monday, remaining atop the 170 meter-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which …
Read More People Moves: Liberty Specialty Markets Taps CNA Hardy’s Butt as UK Head of Casualty Claims; SiriusPoint Names Pryde From Catalina Re as Group Chief Risk Officer
This edition of Interntional People Moves details appointments at Liberty Specialty Markets and SiriusPoint. A summary of these new hires follows here. Liberty Specialty Markets Taps CNA Hardy’s Butt as Head of Casualty Claims, UK Liberty Specialty Markets (LSM), part …
Read More Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
AEGIS London, a top quartile Lloyd’s syndicate, has announced significant enhancements to its political and financial risk (PFR) offering. The syndicate has increased its sovereign non-payment (CF) and political risk (PR) line sizes from $20 million to $30 million, and …
Read More Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Eleven former executives of companies linked to Miteni SpA were sentenced to a combined 141 years in prison by an Italian court for one of the largest groundwater contaminations of forever chemicals in Europe. Parent company Mitsubishi Corp., Japan’s biggest …
Read More Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used …
Read More PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
PricewaterhouseCoopers LLP, one of the world’s largest professional advisory firms, has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. “Clients would hear us talking about using …
Read More Reeves Plans Rule Change to Create UK Captive Insurance Market
The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness. Chancellor of the Exchequer Rachel Reeves is expected to lay out …
Read More As Hurricane Season Picks Up, Key Forecasting Tool Access Set to End
US National Hurricane Center (NHC) forecasters accurately predicted Hurricane Erick would explode in intensity as it hit Mexico’s Pacific coastline. Now, key tools that helped inform that outlook will go away by the end of this month, and it’s unclear …
Read More Tech Firms Warn ‘Scattered Spider’ Hacks Are Targeting Aviation Sector
Tech companies Google and Palo Alto Networks are sounding the alarm over the “Scattered Spider” hacking group’s interest in the aviation sector. In a statement posted on LinkedIn on Friday, Sam Rubin, an executive at Palo Alto’s cybersecurity-focused Unit 42, …
Read More GM Wins Victory as Appeals Court Decertifies Transmission Lawsuits
General Motors persuaded a federal appeals court on Friday to decertify a class action seeking to hold the automaker liable for knowingly selling about 800,000 cars, trucks and SUVs with faulty transmissions. In a 9-7 vote, the 6th U.S. Circuit …
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