News

Audi Cars in China Recalled Over Airbags From German Supplier

FAW-Volkswagen Automobile Ltd, a Chinese joint venture of Volkswagen AG, will recall 270,635 Audi cars in China due to an air bag software issue, China’s quality watchdog said. A spokeswoman at Audi China said the airbags were from a German …

Lloyd’s, Specialty Insurance Advisors Offer Ebola Coverage for First Responders

Lloyd’s of London is offering Ebola coverage for first responders through its U.S. distributor, Specialty Insurance Advisors, as an added benefit to its pre-existing Needle Stick and Workplace Violence coverage. The cover will protect healthcare and law enforcement workers in …

Pirate Attacks on Small Oil Tankers Rising in Southeast Asia Waters

Hijackings of small oil tankers by armed gangs are increasing in Southeast Asia, home to the shortest sea-trade route between the Middle East and China, even as pirate attacks globally fell for a third year. Five of the six vessels …

Marsh Previews Risk Management-Analytics Software

STARS, a business unit of Marsh that provides risk, safety, and claims management software, analytics and services, previewed STARS | ONE, an alpha version of its next-generation risk management platform to 350 global customers and partners at its recent annual …

Aon: Planning, Communications Will Keep Real Risk of Ebola in Perspective

With concerns growing in the U.S. over Ebola exposure — New York City confirmed its first case of Ebola Thursday, Oct. 23 — an executive from Aon plc advised it’s important for businesses to engage in thoughtful planning and careful …

China Insurers Face Shadow Banking Default Risk: Ratings Agencies

A doubling in the trust holdings of China’s insurers has prompted ratings companies to warn the industry may be taking on too much shadow banking default-risk. Insurers held 281 billion yuan ($46 billion) of trust products on June 30, surging …

Ex-CEO Benmosche Writing Book on Turnaround at AIG

Robert Benmosche is working on a book about turning around American International Group Inc. Benmosche’s memoir focuses on the five years he led AIG and is slated to be published in late 2015 or early 2016 by St. Martin’s Press, …

Obama Reportedly Searching for New Auto Safety Chief

The acting chief of the NHTSA, the top U.S. automotive safety regulator, is unlikely to be nominated for the job and an active search is under way to fill the position, a source familiar with the matter said on Monday. …

Biggest Obstacle to Cyber Insurance Sales Is Customer Education

The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey. The survey of insurance professionals found that among carriers offering cyber insurance, 40 percent say businesses don’t think they …

Ping An Profit Rises, Along With Investment Returns

Ping An Insurance (Group) Co., China’s second-largest insurer, said profit rose in the third quarter as banking revenue expanded and a stock-market rally bolstered investment returns. Net income climbed to 10.3 billion yuan ($1.68 billion), or 1.23 yuan a share, …

News Archives by Month