Published August 09, 2016 - 5:54am CST
KPMG L.L.P. has said in a report that the global crisis management and political risk insurance market is expected to top $10 billion by 2018, GTNews.com reported.
Published August 09, 2016 - 5:53am CST
Italy's anti-trust agency said that it has imposed a €5 million ($5.5 million) fine on German automaker Volkswagen A.G. over the emissions scandal, Reuters reported.
Published August 09, 2016 - 5:52am CST
Authorities have said that over 4,400 firefighters are battling hundreds of forest fires across Portugal, Lancaster Online reports.
Published August 09, 2016 - 5:50am CST
The Transocean Winner, a 17,000-ton drilling rig, has run aground off the Western Isles of Scotland in heavy winds, The Weather Channel reported citing news agencies.
Published August 09, 2016 - 5:49am CST
Dirk Pereira, president of the Insurance Association of Sri Lanka, said that the negative impact of the recent floods on insurers "is greater than that of the tsunami of December 2004," The Island reported.
Published August 09, 2016 - 5:48am CST
German carmaker BMW A.G. has expanded its recall of vehicles owing to faulty airbags manufactured by Takata Corp., The Motor Report reported.
Published August 09, 2016 - 5:47am CST
The newly passed Republic Act 10881 has lifted the restrictions on the foreign ownership of insurance adjustment firms in the Philippines, The Manila Times reports.
Published August 09, 2016 - 5:46am CST
Data by Lithuania's central bank has showed that the nonlife insurance market in the country grew 11.8% year on year to €230 million ($255 million) in the first half of 2016, The Baltic Course reported.
Published August 08, 2016 - 6:10am CST
Cyber security firm Fortinet Inc. has said in a report that cybercrime activity is increasing in Brazil, which is currently hosting the Olympics, Insightcrime.org reported.
Published August 08, 2016 - 6:09am CST
A forest fire in La Palma island of Spain's Canary Islands archipelago has prompted evacuations of 500 more residents, The Advertiser reported.
Published August 08, 2016 - 6:08am CST
Some Brazilian insurers have posted a fall in their earnings in the second quarter of 2016 owing to recession in the nation, BNamericas reported.
Published August 08, 2016 - 6:07am CST
FNLIA, an association of 21 foreign insurers in Japan, has called for collaboration amongst regulators, policy influencers and insurance practitioners to improve corporate governance and risk management in the sector, Asia Insurance Review reported.
Published August 08, 2016 - 6:05am CST
Leon Fouche, an official at advisory firm BDO, has warned New Zealand-based firms against jumping straight into buying cyber insurance as cybercrime incidences rise, Stuff.co.nz reports.
Published August 08, 2016 - 6:04am CST
Jessica Chew Cheng Lian, an official at Malaysia's central bank, said that the country's insurance sector will undergo its most significant transformation over the coming five to 10 years, New Straits Times Online reported.
Published August 08, 2016 - 6:03am CST
Brazilian insurance regulator Susep has said that there has been a surge in Directors and Officers liability insurance market in the country owing to corruption probes and numerous bankruptcies, Reuters reports.
Published August 08, 2016 - 5:59am CST
India's Insurance Regulatory and Development Authority has issued guidelines for acquisition of shares in the nation's listed insurers, The Times of India reported citing the Press Trust of India.
Published August 05, 2016 - 5:15am CST
An industry body said that the recent unrest in India's Jammu and Kashmir state is likely to cost traders and industrialists from Jammu region about 10 billion Indian rupees ($150 million), Daily Excelsior reports.
Published August 05, 2016 - 5:14am CST
The recent shutdown of Dubai International Airport following the crash-landing of an aircraft is likely to have cost the emirate around $330 million, Gulf Business reports citing newspaper Khaleej Times.
Published August 05, 2016 - 5:13am CST
South Korea's STX Offshore & Shipbuilding Co. Ltd. is facing 25 civil lawsuits for claims totalling102 billion South Korean won ($92 million), reported The Korea Times.
Published August 05, 2016 - 5:13am CST
Hannover Re S.E. has said that supply of reinsurance capital and capacity is far exceeding demand in global property/casualty reinsurance space, "although further indications of a bottoming out in prices could be discerned," Artemis.bm reported.
Published August 05, 2016 - 5:11am CST
An official at Suncorp Group New Zealand Ltd. has said that the insurer still has reinsurance available to cover its outstanding claims related to the 2011 Canterbury quakes, Stuff.co.nz reports.
Published August 05, 2016 - 5:10am CST
U.K.-based RSA Insurance Group P.L.C.'s underwriting profit increased 63% to £119 million ($158 million) in the first half of 2016, International Business Times reported.
Published August 05, 2016 - 5:09am CST
Tropical Storm Earl has hit Belize and Mexico's Caribbean coastline with heavy rains and string wind, Reuters reported.
Published August 05, 2016 - 5:08am CST
Wael Badran, an official at Tokio Marine Egypt General Takaful, said that the insurer is looking to expand its footprint into three new regions of the country, Amwal Al Ghad reports.
Published August 04, 2016 - 5:35am CST
The China Insurance Regulatory Commission has asked insurers to examine their business risks and strengthen their risk controls, Reuters reported citing Caixin.