International & Reinsurance News

German Firm Quits Safety Inspection Business Following Brazilian Dam Collapse

Germany’s TÜV SÜD has pulled out of conducting safety assessments of dams after the collapse of a Brazilian dam it had vetted killed almost 250 people in January, the industrial inspection firm’s chief executive told Reuters. The collapse of the …

Putin Vows Russian Nuclear Accident That Killed 5 Scientists Poses No Further Risk

President Vladimir Putin said there’s no risk from the explosion at a Russian military facility that caused a radiation spike and killed at least five people. “There’s no threat there and no increase in the background” radiation following the blast, …

AI-Underwritten Insurance Premiums to Go From $1.3B to $20B Globally by 2024: Juniper

The value of global insurance premiums underwritten by artificial intelligence will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019, according to new data from Juniper Research. This growth will be driven by streamlined underwriting processes, …

Leaked Document Warned of Fuel, Food, Medicine Shortages If No-Deal Brexit

Britain will face shortages of fuel, food and medicine if it leaves the European Union without a transition deal, according to leaked official documents reported by the Sunday Times whose interpretation was immediately contested by ministers. Setting out a vision …

Russia’s Yandex Accelerates Driverless Car Testing

Yandex, a Russian equivalent to Google, said it is considering expanding its fleet of self-driving cars to up to 1,000 within the next two years in order to speed up tests on the fledgling technology. Yandex hopes to start testing …

Novo Nordisk to Fight Danish Shareholder Lawsuit Seeking $1.75 Billion

Danish insulin-maker Novo Nordisk said it would fight a lawsuit filed in a Danish court on Friday which alleges the company made misleading statements about its insulin business in the United States, the company said in a statement. “Novo Nordisk …

Tokio Marine Joins Singapore Insurtech Program

Japanese property/casualty insurer Tokio Marine Holdings announced a partnership with Plug and Play’s Insurtech program in Singapore. With this new partnership in Singapore, Tokio Marine will now have access to Plug and Play’s network and the opportunity to work with …

AXA XL Adds Zurich’s Arezes as Senior Underwriter for Large Property in Canada

AXA XL has added Jennifer Arezes to its property insurance team in Canada. Arezes is based in Toronto and will work alongside Ian Rutherford, head of Property, Canada and Urs Uhlmann, CEO and country manager AXA XL, Canada to grow …

Greek Firefighters Battle Multi-Day Blaze in Nature Reserve

Greek authorities sent reinforcements Thursday to firefighters battling a major forest fire in a nature reserve on the island of Evia as water-dropping aircraft tried to extinguish the flames in a hard-to-reach canyon. On the third day of the fire, …

Nepal Government Panel Wants Mount Everest Hikers to Have Experience, Insurance

A Nepal government committee formed after a bad mountaineering season on Mount Everest has recommended requiring climbers to have scaled tall peaks, undergone proper training, and possess certificates of good health and insurance that would cover rescue costs if required. …

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