Monthly Archives: <span>December 2018</span>

Uber Pledges to Fight UK Court Decision that Drivers Should Be Treated as Workers

Uber pledged [on Dec. 19] to challenge a U.K. Court of Appeal decision that drivers should be classed as workers rather than self-employed employees, a verdict that has potentially wide-ranging implications for the rapidly growing gig economy and the rules …

Spain Supreme Court Orders $1.7B Compensation for 2002 Prestige Oil Spill

Spain’s Supreme Court has ruled that the captain and the insurer of the Prestige oil tanker must pay more than 1.5 billion euros ($1.7 billion) in compensation for Spain’s biggest environmental disaster, when the vessel sank in 2002. The court …

Underestimating Climate Change Risks Could Hit Investors: Opinion

As the effects of climate change unfold, its impact on business will grow more severe: altered rain patterns will affect agriculture, floods will disrupt supply lines, heat waves will prevent employees from working. If markets are to work well, investors …

Singapore’s EF Marine Forms Capacity Deal with Swiss Re Corporate to Offer Fixed Premium P&I Cover

Singapore-based EF Marine announced a managing general agent (MGA) agreement with Swiss Re Corporate Solutions, effective Jan. 1, 2019. The alliance between Swiss Re Corporate Solutions and EF Marine will support small and medium-sized shipowners, charterers and multimodal operators globally …

Indonesia Volcano Alert Widened as Ash Clouds Affect Aviation After Deadly Tsunami

Indonesian authorities widened an area marked as a danger zone around the Mount Anak Krakatau as the volcano continued to send hot ash clouds into the sky after a weekend tsunami triggered by a landslide killed more than 400 people. …

UK Business Confidence Sinks as Risk of No-Deal Brexit Grows: Report

Business leaders’ confidence in the British economy has sunk to its lowest level in more than 18 months as the risk of a no-deal Brexit in a little over three months grows, the Institute of Directors (IoD) said on Thursday. …

Marsh Launches China Desk in Dubai to Tap Growing Business Links

Marsh, one of the world’s largest insurance brokers and risk advisers, has launched a China desk in Dubai to benefit from growing commercial links between China, the Middle East and Africa, its regional chief executive said. The subsidiary of U.S. …

P/C Insurer Trade Groups AIA and PCI Agree on Merger, New Name Starting Jan. 1

Members of the Property Casualty Insurers Association of America and the American Insurance Association have approved a merger that takes effect Jan. 1, 2019. The combined organization is set to have a new name, the American Property Casualty Insurance Association, …

Former Insys CEO Babich Pleads Guilty to Opioid Prescription Bribe Scheme

The former chief executive of Insys Therapeutics Inc. has agreed to plead guilty to participating in a scheme to bribe doctors to prescribe a powerful opioid medication in order to boost its sales, U.S. prosecutors said on Wednesday. Michael Babich, …

Ineffective Anti-Drone Systems Leave U.S. Airports Facing Risks Like London’s

U.S. airports may be just as vulnerable as London’s Gatwick airport to the kind of illegal drone incursions that shut down the U.K.’s second-busiest hub this week. Counter- drone technology performed so poorly in U.S. government tests in recent years …