China is banning automakers from using the terms “smart driving” and “autonomous driving” when they advertise driving assistance features, and will tighten rules around such technology upgrades, the government told industry representatives, according to a transcript of a meeting. The …
UK fraud cops have charged an insurance broker with bribery, after a four-year probe into alleged corruption involving state-run insurance contracts in Ecuador. The Serious Fraud Office accused United Insurance Brokers Ltd. of failing to prevent associates from bribing state …
The U.S. excess and surplus (E&S) lines market continues to offer profitable growth opportunities for insurers and reinsurers in the London market – which could help counteract some possible headwinds, according to a report from AM Best. “Excess and surplus …
China is tightening regulations on battery-powered vehicles and will require its automakers to comply with higher battery safety standards, aiming to reduce risks of fire and explosions in the fast-growing sector. The Ministry of Industry and Information Technology on Monday …
A Swedish probe found no conclusive evidence to suggest that a Chinese ship had deliberately dragged its anchor to damage two Baltic Sea cables, Sweden’s Accident Investigation Authority said on Tuesday, though a separate investigation remains under way. The Yi …
Alphabet’s Google is being sued in Britain for potential damages of up to 5 billion pounds ($6.6 billion) in a class action alleging the company abused its dominant market position in the online search industry. The class action, filed at …
Markel, the insurance operations within Markel Group Inc., announced it has agreed to purchase The MECO Group Ltd. (MECO), subject to regulatory approval. Financial details of the transaction were not disclosed. Founded in 1974, MECO is a leading, independent specialist …
United Risk, a subsidiary of Applied Underwriters, announced it has formed a multi-line reinsurance managing general agent. Jay Cahill, previously United Risk’s chief financial officer, has been named chief executive officer of the new MGA. He will be succeeded as …
Authorities in several countries in Central Europe are working to contain an outbreak of foot-and-mouth disease among cattle populations that has caused widespread border closures and required the killing of thousands of animals. The outbreak was first detected on a …
Europe experienced the hottest year on record in 2024, as climate change combined with a strong El Niño to generate a series of extreme weather events and force glaciers into retreat. Half the continent reported new heat records in 2024 …
