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U.K. Has 1st Day Without Burning Coal for Power Since 1880s

The U.K. had its first full day without burning coal to make electricity since the Industrial Revolution more than a century ago, according to grid operator National Grid Plc. “Friday 21st April 2017 was the first 24-hour period since the …

Neon Appoints Sirius’ Sethi as Senior D&F Underwriter

Neon has appointed Catherine Sethi as senior underwriter in its Property Direct & Facultative (D&F) team. Based in London, Sethi will report to Sam Yates, who joined Neon recently to lead the expansion and growth of its London property D&F …

Hamilton Re to Buy Canopius’ Excess Casualty Renewal Rights

Hamilton Re, the Bermuda-based platform of Hamilton Insurance Group, announced it has agreed to acquire the renewal rights to Canopius Underwriting Bermuda Ltd.’s excess casualty insurance book of business. The transaction is expected to close mid-year. In addition, Sompo Canopius …

Society Must Prepare for Disruptive New Techologies, Warns Alibaba Chairman

Alibaba Group Holding Ltd. Chairman Jack Ma said society should prepare for decades of pain as the internet disrupts the economy. The world must change education systems and establish how to work with robots to help soften the blow caused by automation …

At Least 2 Bidders Interested in IDB Unit, Tel-Aviv-Based Clal Insurance

Eduardo Elsztain, the Argentine real estate developer who controls Israeli conglomerate IDB Development Corp., said he has at least two bidders for the company’s insurance unit, Clal Insurance Enterprises Holdings Ltd. Elsztain is fighting a sale of the company in …

Tesla Pushes Back on Class Action Alleging Its Autopilot Software Is Dangerous

Tesla Inc. is facing its first legal challenge over self-driving technology in a case alleging the electric carmaker sold 47,000 vehicles with Autopilot software that’s “dangerously defective” when engaged. Drivers have “become beta testers of half-baked software that renders Tesla …

AIG Study Shows How, Why M&A Insurance Claims Frequency Is Rising

The frequency of insurance claims surrounding mergers and acquisitions (M&As) is rising as large deals prove risky and the average payout on the most severe category of claims tops $20 million, according to an American International Group, Inc. study. AIG’s Global …

States to Get $485 Million for Prescription Drug Monitoring Programs

The federal government will provide states nearly half a billion dollars for prevention and treatment programs aimed at confronting the opioid epidemic, which Health and Human Services Secretary Tom Price described last week as a “crisis.” Price made the announcement …

Intellectual Property Coverage Presents Challenges in Private D&O

Physical property damage due to natural disasters, weather-related or man-made incidents, can be relatively straightforward to assess, but understanding how a different form of property causes damage can be a little more ambiguous, according to panelists at the recent Professional …

New Modeling Product From AIR Worldwide Analyzes Client Cyber Risk

Catastrophe modeling firm AIR Worldwide has released a new cyber risk modeling application for the insurance and reinsurance markets. ARC (Analytics of Risk from Cyber) is designed to evaluate any commercial policy (including those vulnerable to silent cyber), measure and …

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