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...The Russian dark fleet’s insurance arrangements with Ingosstrakh potentially expose coastal states in Europe and Asia to huge potential clean-up costs in the event of a spill....
...Of this, $2.9bn was invested in entities related to 777, according to a notice to all state insurance regulators on Thursday....
...Petra Hielkema, head of Eiopa, which supervises the bloc’s insurers, said a steady rise in losses from natural disasters such as floods and wildfires needed to be addressed by firms, member states and broader...
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...But development in the US’s most densely populated state is heavily concentrated near shores and rivers, putting homes and businesses at risk. That risk is not being factored in to insurance premiums....
...Looking forward, we will pursue rate increases in 10 states to improve margins and in other states to keep pace with increases in loss costs. Used-car costs have, in contrast, declined....
...This has already occurred in home insurance relating to climate, with US states including Florida providing cover for homeowners who are unable to get it; the UK’s Flood Re is a joint government and industry...
...The problem for executives and risk experts on both sides of the Atlantic arguing for a state backstop on cyber is, partly, the other backstops they have argued for in recent years — on pandemic reinsurance...
...In February 2023, the labour department found that Packers had employed at least 102 children — mostly undocumented migrants — at 13 plants across eight states, from Texas to Minnesota....
...In a statement, Matt van Buren, CBRE’s New York tri-state president, thanked Stacom, saying: “During her more than 20 years here, Darcy drove some of New York’s most iconic transactions and has been a champion...
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...And in Minnesota, the state auditor is considering proposing the elimination of annual audit requirements for some smaller local government agencies to stem a tide of late filings....
...The third big index fund provider, State Street, is owned by a bank and regulated differently....
...The reinsurance industry says it cannot currently price the type of localised risk that is pushing up home insurance costs and leading to reduced coverage in states like California....
...Since no state has changed the law and it is not clear how others would react, it looked more like a way to pressure Minnesota into staying in line....
...China’s state health insurance system has lost tens of millions of subscribers, as higher costs have put one of the world’s largest healthcare schemes out of reach for many people already struggling in a...
...,” which is Florida’s state-run insurance company....
...The reinsurer was at the heart of 777’s “insurance funding model”, according to 2021 pitch documents that said 777 Re sat between third party insurers and 777 portfolio companies....
...First: the insurance sector is continuing to pay large ransoms to hackers, on behalf of companies, even though the governments of countries such as the US and UK have urged them to stop, arguing that this...
...in the state....
...“The biggest barrier is insurance companies,” said Lawrence Honig, a neurologist at New York’s Columbia University Irving Medical Center....
...The EU late last year discussed the possibility of Denmark inspecting and, if necessary, blocking tankers of Russian oil sailing through its waters without western insurance, under laws permitting states...
...Insurer Aviva and Rock Rail, a UK-based owner and asset manager of rolling stock, have teamed up with the UK’s state-owned infrastructure investment bank to come up with a new way of funding the costly decarbonisation...
...Here’s what Alphaville was told by Kansas state bank commissioner David Herndon, when we called about the closure of Heartland Tri-State Bank: “We declared the bank insolvent because of a scam that they...
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