India Oil Giant Under Fire for Offshore Disaster During Cyclone Tauktae May 28, 2021 By Debjit Chakraborty When India’s weather office sent out cyclone warnings on May 13 and most vessels moved to safety, one barge working...
Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge May 28, 2021 By Paulina Duran SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for...
COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P May 28, 2021 By L.S. Howard The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit...
Ford Halts Production at Southern India Plant as COVID-19 Cases Surge May 28, 2021 By Sudarshan Varadhan CHENNAI – Ford Motor Co. said it will halt production at its car plant in India’s southern state of Tamil...
Suez Canal Blames Container Ship’s Grounding on Its High Speed, Size of Rudder May 28, 2021 By Aidan Lewis ISMAILIA, Egypt – The container ship that got stuck in the Suez Canal in March was struggling to steer because...
Italian Police Arrest 3 People After Funicular Disaster Kills 14 May 27, 2021 By Nicole Winfield ROME (AP) – Police arrested three people Wednesday in the cable car disaster that killed 14 people in northern Italy,...
BMS Launches Operations in Turkey, Hires Executive Team May 27, 2021 BMS, the London-based independent specialist insurance and reinsurance broker, announced it has launched operations in Turkey. Called BMS Sigorta ve...
Lloyd’s, London Insurers Form Joint Venture with DXC to Transform Digital Processing May 27, 2021 Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, aiming to transform digital...
Suez Canal Authority Is Open to Further Talks with Owners of Seized Container Ship May 27, 2021 By Ashok Sharma and Julhas Alam CAIRO – The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of...
Ardonagh Group Agrees to Purchase BGC’s Insurance Business for $500 Million May 27, 2021 By L.S. Howard The Ardonagh Group, a leading UK insurance broker, announced it has agreed to acquire the insurance operations of BGC Partners...