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...Fast-growing private capital managers such as Apollo have in recent years pushed aggressively to create higher earning assets for insurance companies....
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...There would be many debates over liability such as who was responsible for the vessel and whether the port authority carried any liability, he said....
...The ship’s liability insurance is provided in the first instance by Britannia P&I, part of a global group of liability insurers that share their losses between themselves and $3bn worth of reinsurance....
...But state-backed insurers of last resort, which have expanded as private insurers pull back from some areas, are also big buyers of reinsurance....
...“Insurance companies probably have a duty to their members and shareholders to resist liability if it’s reasonable to do so,” the barrister said....
...Using new(ish) and enhanced financial accounts data for the United States, they find that — rather than NBFIs substituting for bank business — NBFI and bank businesses and risks are better seen as increasingly...
...Michael Wise of the South Carolina insurance regulator said he was aware that his Bermudian counterparts were addressing issues at 777 Re, and that the state continued to “co-ordinate our efforts as necessary...
...One area of focus has been a reliance on securities such as collateralised loan obligations — packaged-up corporate debt — to back insurance liabilities....
...Known locally as the “TDO”, it barred young teenagers from concerts and clubs unless chaperoned by a parent or guardian and required events catering to under-18s to have $1mn in liability insurance and the...
...One focus is likely to be the protection and indemnity insurance covering the ship, a must-have liability insurance intended to pay out for crashes, oil spills and other disasters, the people said....
...Julien Horn, a partner at insurance broker McGill & Partners, said the potential liabilities “go beyond the rebuilding of the bridge and will need to consider removing the bridge debris” from the ship and...
...“You would not think, being here, setting up a store, you have to think: waterproofing,” said Somia Anwar, co-owner of Bookends, a used books seller....
...It will be part reinsurer, taking on $10bn to $15bn of long-dated insurance liabilities and investing a portion of the underlying funds in private credit and other alternative assets, and part investment...
...Insurer databases showed Dali had liability insurance through Britannia, one of a global group of protection and indemnity insurers that shares losses and are ultimately reinsured at Lloyd’s of London....
...“I felt this was the only place I could live a more genteel existence in New York,” says Rostagno, whose devotion to preserving Italian craftsmanship led her to co-found the online home-decor destination...
...The company had said it would pay up to $60bn of liability....
...Chelsea co-owner Todd Boehly’s Eldridge Industries is in advanced talks to buy European private credit firm Hayfin Capital Management....
...This year it did the biggest UK deal of its kind, when general insurer RSA offloaded £6.5bn of liabilities to the group....
...Deutsche Bank has hired Andy Tam from Perella Weinberg Partners as co-head of Americas insurance in the financial institutions group. He will be based in New York....
...Companies: Brazil’s state-run oil company Petrobras is to release its first-quarter results after the market closes....
...Earlier this year, Eurostat came out with its third stab at quantifying quite how big these non-debt-like liabilities are. Their answer is big. Actually, make that BIG....
...This means that offloading liabilities, and the assets backing them, to insurance companies is becoming a viable option for more businesses....
...A revised Product Liability Directive reverses the burden of proof on manufacturers of physical and digital goods....
...As one of the co-sponsors of the legislation, Assemblyperson Jessica Gonzalez-Rojas, puts it (FTAV’s emphasis below): The fact that in New York state we govern most of these contracts around purchasing...
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