International & Reinsurance News

China Firms View Political Risks as Top Concern for Belt & Road Project

As the global limelight fades from President Xi Jinping’s “Belt and Road” summit, the main actors — Chinese state-owned companies — are warning about the political risks they face along the route. Earlier this month Xi outlined plans to direct …

Islamic State Claims Responsibility for UK Terror Attack – Worst Since 2005

Prime Minister Theresa May vowed to combat the “ideology” behind Britain’s worst terrorist attack in 12 years after a suicide bombing killed 22 people at a pop concert. Islamic State claimed responsibility. Campaigning for next month’s general election was suspended …

Petplan Australasia Announces Affiliation with MS Amlin

Petplan Australasia announced that MS Amlin Syndicate 2001 of Lloyd’s will become the new underwriter of its pet insurance plans in Australia – a move that is designed to enhance policyholder benefits with broader coverage and more plan choices. Petplan …

Underwriting Agency, CFC, Partners with Kidnap Response Expert EOS Risk

Lloyd’s managing general agency CFC announced it has formed a partnership with risk management and security consultant, EOS Risk. EOS Risk joins red24 and S-RM on CFC’s panel of security companies that specialize in global kidnap and extortion incidents. “Highly …

UK Firms Choosing Luxembourg as Brexit HQ May Find Lifestyle Differences

Little Luxembourg is luring firms on the lookout for a post-Brexit foothold in the European Union, from JPMorgan Chase & Co. to insurance giant American International Group Inc. While many find the Grand Duchy a multilingual paradise, would-be expats are …

Crewless Ships: Safer, Faster, Cleaner, Cheaper Future of Shipping – Opinion

It sounds like a ghost story: A huge cargo vessel sails up and down the Norwegian coast, silently going about its business, without a captain or crew in sight. But if all goes as planned, it’s actually the future of …

Amazon’s Delivery Drone Project Focuses on Birds (and How to Avoid Them)

Amazon.com Inc.’s development of package-delivery drones is progressing to the point where the company is now thinking a lot about geese. The e-commerce company said Thursday it has started development of an air-traffic control system to manage its fleet as …

China Eyeing Cyber Rule Delay After Outcry from Foreign Firms: Sources

China may delay full implementation of controversial new cyber security rules, giving companies more time to prepare, two people who attended a meeting on Friday between the country’s internet regulator, businesses and diplomats told Reuters. The Cyberspace Administration of China …

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

UK Insurer Ageas Uses Artificial Intelligence to Manage Motor Claims

UK insurer Ageas has begun to use artificial intelligence (AI) technology to help manage its motor claims in partnership with AI specialist Tractable. In what it describes as “a first” for the UK market, Ageas said the technology is now …

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