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...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....
...The Grenfell fire killed 72 people when it spread through the external cladding of a west London tower block....
...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....
...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...
...The rising cost of home insurance and motor insurance has exacerbated cost-of-living pressures on households....
...Third, a repricing of climate risks has led to a sharp rise in the cost of property catastrophe reinsurance — or insurance for insurance companies....
...In the US, insurers that have taken on exposure to the private equity firm 777 Partners are under fire from regulators and rating agencies for potentially excessive risk-taking....
...That can cause safety concerns as even small dings to battery packs can destabilise cells, potentially causing fires and even explosions....
...When an AI-powered doctor tells you that you’re just being hysterical, the AI-powered insurance company is unlikely to disagree....
...Hankey may be playing with fire again....
...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 company in as many years....
...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....
...Bets went sour, Hwang faced margin calls, and was forced to unwind some investments, while banks engaged in a fire sale to cover their losses....
...Insurance companies have pushed up the costs of protecting homes, cars and valued possessions from loss and damage....
...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....
...Next, the shadow banking system — an assortment of financial institutions ranging from hedge funds to insurance companies — still lacks the liquidity to weather price adjustments, according to the FSB....
...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...
...The PLD impact assessment estimated annual payouts from the reformed system could reach €217mn and insurance costs for companies rise around 10 per cent....
...Companies: Paramount, which is preparing to fire its chief executive Bob Bakish, reports results. Domino’s Pizza, SBA Communications and NXP Semiconductors also release earnings....
...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....
...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....
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