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...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...“This fire sale can easily destroy hundreds of millions of euros in value,” a person familiar with the concerns warned....
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...Brereton was an executive at underwriting agency Bond & Credit Co, which was then 50 per cent owned by IAG and issued insurance policies on its behalf....
...The “representations and warranties” insurance policy that JPMorgan took out for the Frank deal applies in cases of fraud and the bank has filed a claim with the underwriter, the people familiar with the...
...“It’s not beyond the realms of possibility that [underwriters] could process 10 times the volume,” said David King, co-founder and co-chief executive of Artificial Labs, which offers fully automated underwriting...
...a particular challenge for underwriters....
...By contrast, the amount paid in claims during the quarter was up 11 per cent, as insurers paid out to cover fire, theft, weather, water leaks, and other events....
...Indeed, John Lewis has suspended sales of its EV policies by request of French underwriter Covéa as it reassesses the cost of repairs....
...IAG was one of the main insurers behind $10bn of cover arranged for Greensill through Bond & Credit Co, an underwriting agency the Australian insurer owned a 50 per cent stake in before selling it to Tokio...
...And one thing to start: Adam Neumann, the co-founder of WeWork, has submitted a conditional bid of about $600mn for the bankrupt co-working company he led until 2019, according to three people briefed on...
...Higher interest rates lit a fire under the corporate pensions market, with improved scheme funding levels meaning hundreds of billions of pounds of pension obligations are expected to be transferred from...
...Others ponying up to co-chair the event include sugar tycoon Pepe Fanjul, casino magnates Steve Wynn and Phil Ruffin, World Wrestling Entertainment co-founder Linda McMahon and conservative megadonors Robert...
...Hudson Bay Capital, Reverence Capital Partners and hedge fund Citadel are co-investing in the deal which closes on Monday....
...As an underwriter you’re more comfortable putting on risk positions.”...
...Something akin to this happened in August 2007 — a fire sale liquidation of quantitatively constructed portfolios which revealed a systemic risk in this part of the hedge fund industry....
...The management of the Federal Deposit Insurance Corporation, which has come under fire in the past week following a report of widespread sexual harassment and gender discrimination at the agency, on Tuesday...
...“Of course fires are worse than they were — some of those terrible fires that have happened in California, that’s climate change.”...
...He had been JPMorgan’s co-head of Emea M&A and co-head of its global strategic investor group M&A. Blackstone has hired Dan Leiter as international head of the firm’s credit and insurance business....
...writing an insurance policy....
...Following the collision, the JAL plane caught fire as it skidded along the runway....
...She has more than $750,000 in winnings from competition (and sold her Dallas-based insurance business for more than $400mn in 2018)....
...I’m paying for that when I pay my insurance. Consequently, I think the American public is getting it, understanding it....
...Labour has come under fire from the Tories over its pledge to invest £28bn a year into its flagship green prosperity plan to boost low-carbon energy....
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