No-Brexit deal could cost UK, EU firms more than $80 billion: Report

Published: 13/03/2018

No-Brexit deal could cost UK, EU firms more than $80 billion: Report

Source: WWW.BUSINESSINSURANCE.COM

Read more

A report by U.K.-based consultancy firm Oliver Wyman Ltd. and law firm Clifford Chance L.L.P. said that companies in Britain and the European Union could face an extra £58 billion ($80.6 billion) in annual costs in case of a 'no-deal' Brexit.

Read more

Related news

Iranian insurers settle nearly $25 million of quake-related claims

Published: 13/03/2018

Abdolnasser Hemmati, head of regulator the Central Insurance of Iran, said that local insurers have settled more than 1 trillion Iranian rials ($24.5 million) worth of claims related to the November 2 ... Read more

Source: www.businessinsurance.com
UAE satellite firm to make 50% insurance claim for incorrectly launched craft

Published: 13/03/2018

U.A.E.-based Al Yah Satellite Communications Co. PrJSC plans to make a claim for 50% of the insured value of its YahSat-3 craft after France-based satellite launching firm Arianespace S.A.'s rocket la ... Read more

Source: www.businessinsurance.com
Reforms help African insurers record profit: A.M. Best

Published: 13/03/2018

A report by U.S.-based ratings agency A.M. Best Co. Inc. found that insurers and reinsurers in Africa recorded higher profits due to reforms by industry association the Inter-African Conference on Ins ... Read more

Source: www.businessinsurance.com

75% of SMEs cite breadth of insurance cover as top priority: Survey

Published: 13/03/2018

A survey by Germany-based insurer Allianz S.E. found that 75% of small and mid-sized enterprises cited breadth of cover as the top priority when purchasing business insurance. Read more

Source: www.businessinsurance.com
Insurer Needn't Pay $6M To Defend Client's Bad-Faith Suit

Published: 12/03/2018

An Indiana federal court ruled Monday that insurer American International Specialty needn’t pay a $6 million claim that a client, another insurer, faced after its allegedly bad-faith handling of ... Read more

Source: www.law360.com
Patriot National Plan Disclosure Statement Approved In Del.

Published: 12/03/2018

Bankrupt insurance services provider Patriot National Inc. received court approval Monday in Delaware for a Chapter 11 disclosure statement detailing its proposed plan for a debt-for-equity swap with ... Read more

Source: www.law360.com

Mass. AG Loses Fight Against Trump Contraception Rules

Published: 12/03/2018

A Massachusetts federal judge on Monday rejected the state attorney general's challenge to the Trump administration’s decision to let more employers deny women contraceptive coverage, saying Mas ... Read more

Source: www.law360.com
Idaho's Insurance Chief Dishes On His ACA End Run

Published: 12/03/2018

The Trump administration would be hard-pressed to show that Idaho’s closely watched bid to evade Affordable Care Act standards rises to the level of flouting the law, the state’s top insur ... Read more

Source: www.law360.com
You Can Find Workers’ Comp Gold in 8,000 Hours

Published: 12/03/2018

Hey, there. Michael Stack here, CEO of Amaxx. I’m generally fairly handy. I worked in a wood shop in college for four years and I’ve always enjoyed sort of doing little projects. So will h ... Read more

Source: blog.reduceyourworkerscomp.com

AIG Wins Suit Over Palazzo Hotel Construction Project

Published: 12/03/2018

Liberty Mutual Fire Insurance Co. must pay the entirety of a multimillion-dollar settlement resulting from shoddy construction work on the Palazzo hotel in Las Vegas, a Nevada federal court ruled on F ... Read more

Source: www.law360.com
Storm, cold snap to cause hundreds of millions of dollars of economic losses

Published: 12/03/2018

A report by U.K.-based Aon Benfield Group Ltd. predicted that the cold, arctic air and storm Emma are likely to cause hundreds of millions of dollars in economic losses including business interruption ... Read more

Source: www.businessinsurance.com
Belgium to compensate all terrorism victims

Published: 12/03/2018

The Belgian government and insurers have agreed to compensate terror attack victims irrespective of where and how the attacks are perpetrated. Read more

Source: www.businessinsurance.com

Asian film industry's demand for insurance rises significantly

Published: 12/03/2018

Experts said that the Asian film industry's demand for insurance has increased significantly since 2017 after Andy Lau Tak-wah, a Hong Kong actor, was off work for nine months due to an injury. Read more

Source: www.businessinsurance.com
Cyclone Gita damage bill exceeds $150 million

Published: 12/03/2018

Losaline Ma'asi, chairman of Tonga's standing committee for Agriculture and Fisheries, said that cyclone Gita caused $152 million worth of damage to the country's agricultural sector. Read more

Source: www.businessinsurance.com
Japanese cryptocurrency exchange hit by $54-million theft

Published: 12/03/2018

Japan-based cryptocurrency exchange operator Coincheck Inc. plans to compensate about 260,000 victims after hackers stole about $54 million worth of cryptocurrency from the firm's exchange. Read more

Source: www.businessinsurance.com

South Korean insurer seeks to expand in China, Vietnam

Published: 12/03/2018

South Korea-based insurer NongHyup Financial Group Inc.'s unit NongHyup Property & Casualty Insurance Co. Ltd. will partner with the All China Federation of Supply and Marketing Cooperatives to setup ... Read more

Source: www.businessinsurance.com
Iran's government divests from local insurer

Published: 12/03/2018

The Iranian government has sold its 17.14% stake in local insurer Alborz Insurance Co. to a consortium consisting of pension funds and an investment firm. Read more

Source: www.businessinsurance.com
Nigerian insurance regulator takes over insurer's operations

Published: 12/03/2018

Nigeria's insurance regulator the National Insurance Commission has taken over local insurer Unic Insurance P.L.C.'s operations due to Unic's inability to pay claims following weak financial results. Read more

Source: www.businessinsurance.com

Comment

FACEBOOK

Facebook