London - When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies
Alan Mackinnon, chief claims officer with UK Club, the Ever Given's P&I insurer, said it expected a claim against the ship’s owner from the canal authorities for possible damage to the canal and for loss of revenues, and separately claims for compensation from some of the owners of the delayed ships.
Frankfurt - Natural catastrophes around the world resulted in $210 billion in damage in 2020, with the United States especially hard hit by hurricanes and wildfires, a top insurer said. The damage, tallied by the German reinsurer Munich Re, increased from $166 billion in the previous year, and comes as a warming planet heightens risks
Beirut - Lebanon may be in line for $298 million in emergency aid after the Beirut port blast, but the more than $30 billion some estimate it may need to rebuild its shattered economy will not be forthcoming without reform
A shareholder of Inovio Pharmaceuticals filed a class action complaint on March 16 against the company and its chief executive, citing "misstatements" that the company had developed a coronavirus vaccine in three hours
The capesize index fell 89 points, or 7.7%, to 1,066 – its lowest since April 29. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, increased $239 to $9,438
The U.S. central bank last month signaled interest rates could remain unchanged at least through this year, after lowering borrowing costs three times in 2019
Brasilia - Brazil President Jair Bolsonaro said on Tuesday that mysterious oil slicks polluting northeastern beaches were likely to have criminal origins, without explaining further.
Bologna - Italian insurance group Unipol increases its commitment on the renewable energy sector and creates Unipolsai Energia, it is announced from company’s headquarter. Up to 2018, Unipol has invested 326 million euros in funds and investments to implement the UN 2030 agenda for sustainable development
Rome - The insurance industry gives a “still significant support” for Italian public debt, noted the president of ANIA (the National Association of Italian Insurers) Maria Bianca Farina, specifying in the report to the annual meeting that government Italian bonds touch around 40% of total insurance companies investments
Trieste - Assicurazioni Generali announces that it has completed the sale of its entire shareholding in Generali Worldwide Insurance Company Limited and Generali Link to Life Company Consolidation Group. This follows the announcement of the sale by Generali on July 19, 2018
Havana - President Miguel Diaz-Canel tweeted damage was extensive as he toured one of the hardest hit districts.
London - North P&I has received authorisation as a non-life insurance business from the Central Bank of Ireland (CBI)
Trieste - Assicurazioni Generali announced that, following the authorization request submitted by the Company, IVASS - the Italian insurance regulatory agency – with its instruction of 19 November 2018, authorized the Company to extend , starting from December, 31, the scope of the Group’s internal model
Kaktovik - A magnitude 6.5 earthquake struck 40 miles (64 km) southwest of Kaktovik in Alaska, the U.S. Geological Survey said on Sunday.
Bologna - A tanker truck ploughed into a lorry on a motorway near Bologna airport in northern Italy on Monday, exploding in flames and sending a huge ball of fire and black smoke into the sky.
Rabat – Lloyd’s Insurance officially inaugurated a new office in Casablanca Finance City.
Beijing - The crackdown has forced many migrant workers living in basements and warehouses to pack up and leave, media reported, while a flurry of logisticsand delivery companies have been hit by emergency rules that closed some warehouse centres.
Miami - Category 4 Irma passes over Florida Keys, heads to mainland. At least 1.4 million homes, businesses without power.
Miami - A powerful sea surge will accompany Hurricane Irma as the storm moves through Florida, and that blast of ocean water could badly damage coastal areas, Florida Governor Rick Scott said.
Washington - “That’s where the storm surge is most prevalent and the inland winds are going to be tough.”
Miami - Florida orders evacuation of 5.6 million residents. Trump warns of “historic destructive potential”. Coastal flooding hits northern Cuba.
Bossaso - Somali pirates are suspected of hijacking a bulk carrier ship.
Beijing - As climate change increases the frequency and severity of typhoons, the Chinese government is pushing the insurance industry to offer climate risk policies.
Genoa - Wars, pirates, international tensions: the region is a shifting crucible. A conversation with Francesco Ferrari (First)
Hong Kong - Insurance companies including Zurich and Allianz said on Friday they had received claims from clients that had been affected by the disaster but could not provide any estimate of the potential losses.
Genoa - Carige Insurance has been fined €1 million.The sanction was decided by the Antitrust Authority, in order to combat, “unfair and aggressive business practices.” In the crosshairs of the regulatory agency are the measures put in place by the Insurer to recover its claims
Trieste - Generali Insurance group closes a record second quarter with net income up sharply to 1.3 billion (+21.6%) and an operating profit up 11.3% to 2.8 billion, the best in the past eight years. The forecast for the end of 2015, according to CEO, Mario Greco, points, “to significant strengthening in net income”
Kiev - Germany’s Allianz SE is the lead hull and liability reinsurer covering the Malaysian airliner that was shot down over eastern Ukraine on Thursday. Willis Group Holdings brokered the insurance. In the Malaysia Airlines Boeing 777 there were 298 people aboard
Rome - The Group had a strong year in 2013, even as the integration process continued apace and achieved combined revenues of NOK 15 234 million which included the effect of the merger.