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...Michel Liès, chair of the IDF’s steering committee and of insurance group Zurich, said the climate summit would be an opportunity to spread the message that it would be better to spend money on prevention...
...The Trump Organization had approached 30 surety companies — including Allianz, Axa, Berkshire Hathaway, Chubb, Munich Re, Swiss Re and Zurich — via four separate brokers, to no avail, they added....
...Some insurance start-ups, such as Lemonade, have built their claims processes using AI, which can result in payouts being made on the spot....
...In late October more than 40 of Europe’s most powerful bankers convened at the palatial Dolder Grand hotel overlooking Zurich for three days of discussions about the state of their industry....
...In 2019, Zurich initially denied a $100mn claim from food company Mondelez, arising from the NotPetya attack, on the basis that the policy excluded a “warlike action”. The two sides later settled....
...AIG has undergone significant change during his tenure, with moves including last year’s initial public offering of its life insurance and retirement business, Corebridge....
...Insurance group Zurich’s sale of a $20bn life insurance book to Viridium has collapsed, with the private equity-backed German consolidator citing “considerations relating to [its] current ownership structure...
...One broker, Edward Smith, said to Zurich in 2018 that Liberty customers named under its receivables programme “appear to be reasonable credits”....
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...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
...Rising commercial insurance prices also lifted rival insurance group Zurich, which reported on Thursday a record adjusted operating profit of $7.4bn, topping analysts’ expectations....
...The insurance sector is expecting a hefty bill....
...The pledge comes three years after the insurance market apologised for its role in the trade, which included extending crucial insurance to voyages and even insuring slaves as cargo....
...In December, insurance group Zurich’s chief executive warned that cyber attacks were on their way to becoming “uninsurable”....
...The UK’s market is centred on Lloyd’s of London, which is a hub for negotiation of these policies, while Switzerland is host to big insurance and reinsurance groups such as Zurich and Swiss Re....
...Mario Greco, who heads Swiss insurance company Zurich, attacked the “lack of political support” from the US and other governments for taking action on climate....
...Greensill’s insurers, which include BCC’s former parent Insurance Australia Group, Tokio Marine and Zurich are refusing to pay out on the company’s credit cover....
...The company collapsed two years ago after its insurance expired, sparking a political and financial scandal....
...Julia Sommer, who worked in London as a political risk underwriter for the Zurich-based insurance and reinsurance group until she was made redundant two years ago, had her complaints for sex discrimination...
...US health insurer Cigna has abandoned plans to merge with Humana, a blockbuster transaction that would have created a $140bn insurance giant, according to people familiar with the matter....
...The act has resulted in tougher reimbursement talks between medical groups and the insurance companies that pay the bills, and meant cash flows have become harder to predict, or even dried up in some cases...
...Sam Fleming and Colby Smith report from Marrakech....
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