Three years ahead of schedule, four vehicle manufacturers— Tesla, Volvo, Audi and Mercedes— have already met their voluntary commitment under an agreement to equip virtually all of their new passenger vehicles with low-speed automatic emergency braking systems that includes forward …
Massachusetts’ highest court on Monday rejected arguments that consent-to-settle clauses in professional malpractice insurance policies violate public policy. The Supreme Judicial Court sided with CNA subsidiary Continental Casualty Co. in an engineering malpractice lawsuit brought by homeowners Douglas and Kristen …
Global insured losses in 2019 dropped to an estimated US$56 billion, from US$93 billion in 2018 and below the annual average (US$75 billion) of the previous 10 years, according to preliminary sigma estimates from Swiss Re Institute. During the year, …
Lab test provider LifeLabs said Tuesday that it paid a ransom to secure data for Canadians that was stolen in a data breach in late October. Hackers also obtained personal information of an unknown number of the company’s 15 million …
DARAG Group Ltd., the Malta-based legacy acquirer, announced it has closed the portfolio transfer with German re/insurer SCHWARZMEER UND OSTSEE Versicherungsaktiengesellschaft (SOVAG), following the receipt of all regulatory approvals. The direct insurance and inwards reinsurance business within the legacy portfolio …
Danish authorities say a deadly accident in which a high-speed passenger train struck a semi-trailer that fell off a freight train coming in the opposite direction, happened because the unit wasn’t properly secured. Denmark’s Accident Investigation Board, known by its …
Britain’s new government named Andrew Bailey as the next Bank of England boss on Friday. Following is reaction to his appointment. LIZ MARTINS, UK ECONOMIST, HSBC “In terms of Mr Bailey’s position on the dove-hawk spectrum, it is very hard …
Andrew Bailey will be the next head of the Bank of England after the government chose to replace Mark Carney with the U.K.’s top financial regulator, just as Britain faces the next phase of Brexit. He’ll start on March 16, …
Florida’s insurer of last resort Citizens Property Insurance Corporation will make shrinking its policyholder count a priority next year, despite potential headwinds that may come from Florida domestic carriers raising rates and restricting coverage. Prompted by a request from Florida …
Environmental and watchdog groups have long criticized the Texas Commission on Environmental Quality for taking it too easy on polluters — and the TCEQ has often countered that its job is to coax industrial facilities into compliance rather than slap …
