Rising inequality and social polarization are set to shape world developments for the next decade after contributing to Britain’s decision to leave the European Union and the ballot-box success of U.S. President-elect Donald Trump, the World Economic Forum (WEF) said. …
A federal prosecutor on Monday said the government won’t introduce at trial a lengthy statement from a man charged with setting off bombs in New York and New Jersey in order to keep to a scheduled trial date in March. …
German investigators intensified their search for the perpetrator of a deadly truck assault on a Christmas market in Berlin after an initial suspect was released, deepening the fear and uncertainty over what Chancellor Angela Merkel called a terrorist act. The …
The costs of major shocks to the global economy from natural and manmade threats could put at risk $1.17 trillion of the total projected GDP of the world’s major cities in 2017, according to the findings of a report compiled …
Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., announced the launch of a Lloyd’s led consortium for nuclear, biological, chemical and radiological (NBCR) terrorism. The facility will allow brokers to fully bind through one underwriter, with Talbot …
France plans to increase a levy on property insurance policies to 5.90 euros [$6.30] from 4.30 euros [$4.59] per contract to bolster a fund that provides compensation to victims of attacks or other criminal acts. Following the Islamist attacks in …
Pool Re, the state-backed UK reinsurer that covers terrorism related commercial property losses, announced the launch of the International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP). The formation of IFTRIP is the culmination of a Pool Re led initiative, which …
Business interruption, property damage and general liability are the top three risks faced by businesses, non-governmental organizations and governmental agencies operating outside the U.S., according to the Summer/Fall edition of “Clements Worldwide Risk Index.” In fact, business interruption and property …
XL Catlin announced it has updated the wording of its “Active Assailant” coverage to include the use of road vehicles in an attack. Stephen Ashwell, XL Catlin’s chief underwriting officer for Crisis Management, said: “The tragic events that took place …
The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the London market, both A.M. …
