International News

Airbus Opens Investigation into Plane Crash that Killed 97 in Pakistan

Pakistan announced Tuesday that Airbus experts have opened a probe into last week’s plane crash that killed 97 people when an Airbus A320 went down in a crowded neighborhood near the airport in the port city of Karachi. Initial reports …

Ship Inspectors Conduct Virtual Inspections of Oil Tankers During Pandemic

Ship assessors are resorting to virtual inspections of oil tankers to keep vessels afloat, as the coronavirus pandemic makes physical visits to check for seaworthiness tougher and a slump in fuel demand increases the need for ships as storage. Oil …

Severe Storm Batters Coast of West Australia

Tens of thousands of homes and businesses lost power, buildings were battered and trees were uprooted as a vast stretch of the west Australian coast was whipped by a severe storm on Monday for the second straight day. No casualties …

Swiss Re Corporate Solutions Names Hunziker as APAC Head Property & Specialty

Swiss Re Corporate Solutions has appointed Robert Hunziker as Asia Pacific Head Property & Specialty, effective Sept. 1, 2020. In this role, Hunziker will be responsible for providing underwriting leadership, portfolio steering and growing the Property & Specialty product offering …

SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis

French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30% less in his annual variable compensation for 2019, which is equal to €325,260 (US$354,333). In addition, the company has decided to cancel its 2019 dividend. Kessler’s …

EU Urged to Create Insurance Catastrophe Backstop for Pandemics, Huge Cyber Attacks

A European Union framework is needed to provide insurance cover for catastrophes such as pandemics and huge cyber attacks, the Federation of European Risk Management (FERMA) said on Tuesday. This would involve public-private partnerships and could cover events which hit …

Willis Towers Watson Launches Customized Cyber Insurance for Shipowners

Willis Towers Watson announced the launch of CyNav, a new type of cyber insurance cover designed specifically for shipowners. The new product addresses the growing need for an explicit marine cyber solution, built from the ground up to specifically address …

Canopius Appoints AXA XL’s Elliott as APAC Casualty Underwriter

Canopius announced the appointment of Craig Elliott as casualty underwriter for the region, effective May 4, 2020. He reports to Claudio Saita, head of Australia & Pacific, and is based in the company’s Sydney office, established last June as part …

Update: AXA to Pay Business Interruption Claims to Restaurants After Court Ruling

AXA will meet the bulk of business interruption claims from some restaurant owners in France, it said on Tuesday, after losing a court case seen as a potential precedent for coronavirus-related disputes across the world. A Paris court ruled last …

BHSI Expands Defense Base Act Coverage into Dubai

Berkshire Hathaway Specialty Insurance (BHSI) is now offering Defense Base Act (DBA) insurance on a global basis through its DBA-dedicated underwriting and claims team in Dubai. According to Neeraj Yadvendu, head of Third-Party Lines, BHSI Middle East, the mandatory coverage …

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