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...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...More than a dozen German insurance companies filed a petition with Vienna’s district court last week, a copy of which was seen by the FT, demanding an end to Signa Prime’s self-administration....
...due to fire-safety issues....
...Insurance prices are surging as companies look to repair their margins after years of significant losses from severe weather to insured properties, exacerbated by inflation in rebuild costs....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...the company in as many years....
...supply chain finance company had should pay out....
...London-based PIC has more than 300,000 policyholders amassed through so-called bulk annuity deals, where it takes over pension fund liabilities and the assets backing them from their sponsoring companies...
...The UK’s Foreign, Commonwealth & Development Office imposed sanctions on Dubai-based Paramount in November but stopped short of targeting Troost or the Swiss-based trading operation....
...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....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...Rescue operations were being carried out “on the surface of the water, subsurface” and “on the deck of the ship itself”, said Baltimore fire department chief James Wallace....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...The company’s interim payout dipped. Admiral shares should yield just over 5 per cent in 2024, according to Visible Alpha consensus....
...The International Union of Marine Insurance said in September that although fires caused by these vehicles were not more common or intense than those caused by traditional cars, new firefighting techniques...
...This evokes memories of the long-running, and very expensive, payment protection insurance scandal. Any lenders funding motor finance should worry about how this problem could mushroom....
...While the government has repealed controversial rules to cap bankers’ bonuses, the reforms have failed to stem an exodus of companies from the London Stock Exchange....
...The British Insurance Brokers’ Association trade body backed Blanc’s call for a review of the cap....
...But it’s insurance — you should pay for insurance, you shouldn’t get paid for it. Nassim would say, well, there is a fair amount of alpha to how you construct the options strategies....
...The leap from frying pan to fire is dangerously easy....
...US banking regulators want to make emergency fire sales of large regional banks a thing of the past by requiring lenders to come up with “living wills” that would make it easier to wind down a troubled institution...
...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....
...Fire risks are also rising, given ships are carrying greater amounts of lithium-ion batteries....
...“Of course fires are worse than they were — some of those terrible fires that have happened in California, that’s climate change.”...
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