Venice Hotels Suffer Nearly $34M in Damages from November’s Floods December 23, 2019 Venice’s hoteliers association estimates that the city’s hotels suffered about 30 million euros ($34 million) worth of structural damage during...
Canada Pension Fund OMERS to Buy Stake in Fairfax Run-off Unit, RiverStone UK December 20, 2019 Fairfax Financial Holdings Ltd. and OMERS, the pension plan for Ontario’s municipal employees, announced they have entered into an agreement...
Insured Losses in 2019 Estimated at $56B, Down from $93B Last Year: Swiss Re December 20, 2019 Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual...
Canadian Lab Test Firm, LifeLabs, Pays Ransom After Data Breach December 20, 2019 Lab test provider LifeLabs said Tuesday that it paid a ransom to secure data for Canadians that was stolen in...
Legacy Acquirer DARAG Completes Portfolio Transfer with Germany’s SOVAG December 20, 2019 DARAG Group Ltd., the Malta-based legacy acquirer, announced it has closed the portfolio transfer with German re/insurer SCHWARZMEER UND OSTSEE...
Deadly Danish Train Accident Caused by Improperly Secured Trailer: Report December 20, 2019 Danish authorities say a deadly accident in which a high-speed passenger train struck a semi-trailer that fell off a freight...
U.K. Business Executives, Economists, Politicians React to New BoE Boss Bailey December 20, 2019 Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday. Following is reaction to his...
U.K. Names Bailey as Bank of England Chief, Succeeding Carney December 20, 2019 By David Goodman and Jessica Shankleman Andrew Bailey will be the next head of the Bank of England after the government chose to replace Mark Carney...
MS Amlin to Exit U.K. P/C Classes as Part of Underwriting Review December 19, 2019 By L.S. Howard MS Amlin, the London-based re/insurer, said it will cease underwriting corporate property, real estate, casualty and package binders through its...
Airlines Liable for Hot Drink Burns During Flights, EU Court Rules December 19, 2019 By Stephanie Bodoni Airlines are liable for a hot drink accidentally spilled and hurting a passenger, the European Union’s top court said in...