International & Reinsurance News

Suez Canal Chief Hopes Insurer, Owner of Detained Cargo Ship Reach Deal

The head of the Suez Canal Authority (SCA) said on Monday he hoped talks would soon yield an agreement with the owner and insurer of a giant container ship which is still being detained since it blocked the waterway for …

Europe’s Hopes for Digital Health Passports Face Security, Fraud, Political Challenges

As Europe races to set up a digital health pass scheme to save the holiday season from the pandemic, technical and political obstacles are showing just how big a challenge the world faces in building such systems, people involved in …

London’s NuVenture to Support MGAs with Funding,Technology

A new London-based business is promising to support a diverse portfolio of managing general agencies (MGAs) with resources, as well as back office services and custom technology. NuVenture International Ltd., formed by industry veteran Andy Colbran in a strategic partnership …

Greensill Creditors OK Australian Liquidation; Further Investigations Expected

Creditors of Greensill Capital Pty, the Australian parent of the collapsed British supply chain financier, voted on Thursday to liquidate the company, its administrator said, triggering deeper investigations into the conduct of its directors. Grant Thornton (GT), the liquidator appointed …

EU Privacy Supervisor Urges Ban on Facial Recognition Software

Facial recognition should be banned in Europe because of its “deep and non-democratic intrusion” into people’s private lives, EU privacy watchdog the European Data Protection Supervisor (EDPS) said on Friday. The comments come two days after the European Commission proposed …

Virgin Island Officials Investigating St. Croix Refinery Emissions

A “noxious” gaseous smell coming from St. Croix’s recently reopened refinery that caused schools to close was caused by excess emissions of hydrogen sulfide, U.S. Virgin Islands officials said on Friday. The Department of Planning and Natural Resources (DPNR) is …

Climate Change Activists Protest at Lloyd’s of London, Dumping a Load of ‘Coal’

Lloyd’s of London was the focus of climate change activists on Friday, when a group called “Insurance Rebellion” used a dump truck to deposit a large pile of fake coal in front of the Lloyd’s headquarters on One Lime Street. …

Cyber Attacks and Data Loss Are Top 2 Risks Facing Directors & Officers: WTW Survey

Cyber attacks and data loss are the top two risks facing directors & officers, with pandemic-related changes in working practices heightening these concerns, according to a global survey from broker Willis Towers Watson and law firm Clyde & Co. Covering …

Insurer for Ever Given Container Ship Appeals Detention by Egypt After Suez Grounding

LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by …

Lloyd’s Receives ‘AA-‘ from Its New Rating Agency KBRA

Kroll Bond Rating Agency (KBRA) has assigned an “AA-” insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. Newly appointed to provide an additional independent opinion of the market’s financial strength, KBRA joins three other agencies that rate …

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