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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....
...The EU aims to increase production of Nato-standard 155mm shells to 1.4mn annually to replenish member states’ stocks, which have been depleted to help Ukrainian armed forces in the face of superior Russian...
...Hielkema said any pan-EU scheme would need to be carefully calibrated to make sure individual states are pulling their weight on adaptation measures, among other considerations....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...A couple of months ago, my insurance company decided to raise the price of the yearly insurance premiums on our Brooklyn home by 51 per cent over three years, after more than doubling the estimated cost...
...New York-listed Chubb will pay $350mn to the US state of Maryland, as insurers start to cover the collapse of Baltimore’s Key Bridge in March....
...But state-backed insurers of last resort, which have expanded as private insurers pull back from some areas, are also big buyers of reinsurance....
...Reinsurers, including Lloyd’s companies, are expected to bear the brunt....
...The tide of money flowing into Indian healthcare also illustrates the widening gulf between the country’s expanding private networks and the parlous state of its underfunded public hospitals....
...In 2006, New York State resident Martha Barotz was paid $150,000 upfront by Life Accumulation Trust III (LATIII), which took out insurance that would pay out a $5mn lump sum on her death....
...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....
...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....
...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...
...Axa’s deputy chief executive, Frédéric de Courtois, said a public-private partnership on cyber is a “must-have”, given it is generally only the biggest companies, which have also invested in prevention,...
...However, increased demand for private work could take doctors and nurses away from the state’s free-at-the-point-of-use NHS, Warren warned....
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...Unheralded at the time, the $2bn transaction catapulted Buffett into the energy business, kicking off a quarter of a century of dealmaking that has transformed Berkshire into a major player, operating across 28 states...
...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....
...The big subsidisers affecting African cotton-growers are now middle-income countries including India and China. (H/T to the great Robert Wolfe for spotting this.)...
...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...
...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....
...Banks and insurance companies have also created significant partnerships with private equity and credit groups such as Blackstone and Warburg Pincus, seeking their investment expertise....
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