August 6, 2018
BMW’s South Korean unit apologized over a spate of engine fires, estimated by the country’s transport ministry at 27 over January to July, that has prompted a government probe and a major backlash from consumers. BMW said it will launch …
August 6, 2018
Executive Summary: While progress has been made in the development of casualty insurance-linked securities (ILS), there still is significant work to do, says Aaron C. Koch of Milliman, who discusses some of the key structural and product design questions that …
August 6, 2018
Atlantic storm watchers are going to have a hard time seeing the ocean, never mind any tropical systems, as another Saharan swirl of dust from Africa is moving west. The dust, a marker for dry air, has spread out across …
August 6, 2018
Typhoon Shanshan is set to approach the Tokyo area later this week, bringing heavy winds and strong rains to a region suffering from a sweltering heatwave. Shanshan, the 13th tropical storm of the season, is projected to track over the …
August 6, 2018
Hub International Limited (Hub), the Chicago-based insurance brokerage, announced it has acquired Southland Insurance Brokers Inc. Terms of the acquisition were not disclosed. With Ontario offices in Leamington, Tecumseh and Harrow, Southland has been providing customers in Windsor and Essex …
August 6, 2018
Taiwan Semiconductor Manufacturing Co. (TSMC), which makes chips for the iPhone and other devices, is recovering from a debilitating computer virus but warned of delayed shipments and reduced revenue because of the impact on its factories. TSMC said that 80 …
August 6, 2018
Prime Minister Theresa May’s ministers are ratcheting up warnings that Brexit talks risk ending in failure, with International Trade Secretary Liam Fox on Sunday predicting a messy split from the European Union. “The intransigence of the commission is pushing us …
August 6, 2018
Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …
August 6, 2018
This year’s looking brighter for Berkshire Hathaway Inc.’s insurance businesses after 2017’s hurricanes led to the first annual underwriting loss in more than a decade. Auto insurer Geico and the company’s namesake reinsurance business helped lift underwriting to a profit …
August 6, 2018
A federal jury decided Friday that the world’s largest pork producer should pay $473.5 million to neighbors of three North Carolina industrial-scale hog farms for unreasonable nuisances they suffered from odors, flies and rumbling trucks. The jury found that Smithfield …