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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....
...Lawyers’ fees account for just over half of the cost, with another third paid to insurance advisers....
...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....
...Of this, $2.9bn was invested in entities related to 777, according to a notice to all state insurance regulators on Thursday....
...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...
...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...
...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....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...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....
...Companies: Brazil’s state-run oil company Petrobras is to release its first-quarter results after the market closes....
...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....
...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....
...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...
...Bain & Company on Thursday....
...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....
...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...
...A significant factor has been a sharp rise in the cost of property catastrophe reinsurance, or insurance for insurance companies....
...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....
...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....
...In the event, some businesses have opted to renew their insurance policies without including cover for Israel assets, relying instead on a state compensation fund, according to two market sources....
...from state-owned insurance companies....
...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...
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