Global Economy
Royal Caribbean Liability for Volcano Deaths Could Hing on ‘Act of God’ Defense
Royal Caribbean Cruises Ltd's potential liability for a deadly excursion to a volcanic island in New Zealand could hinge on whether the eruption was an unforeseeable "act of God," according to ...
Low Interest Rates Could Dent French P/C Insurers Profits in 2020: Moody’s
The 2020 outlook for the French insurance sector is negative, reflecting growing pressures on the property/casualty insurers' profitability from low interest rates, Moody's Investors Service said in ...
Tesla Rear-Ends Parked Cop Car While Operating on Autopilot
Another Tesla Inc. vehicle operating on the carmaker's driver-assistance system branded as Autopilot has crashed into a parked emergency vehicle, eliciting fresh warnings about the shortcomings of ...
Insurers Puzzle Over Risks Shipping Industry Faces With New Pollution Rules
Faced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks. To reduce emissions of toxic sulfur that cause premature deaths, shipowners who ...
Judge Rules Exxon Mobil Did Not Defraud Investors by Hiding Climate Change Costs
Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion by hiding the true cost of climate ...
Executives On The Move at AXA XL, AXIS and Clyde & Co.
AXA XL hired two new senior underwriters for its Environmental insurance team in New York. AXIS Capital Holdings Ltd. appointed a former insurance commissioner to its Board of Directors. Insurance ...
China Increases Likelihood It Will Retain Control of Financial Institutions
China's finance ministry said on Wednesday it will make it harder for ownership changes to be made to financial institutions that could lead to the government relinquishing control, in a bid to ...
Record Venice Floods Top November Catastrophe Losses
Flooding and inland storms led to multi-billion-dollar economic loss in western and southern Europe during November, according to insurance broker Aon's latest edition of its monthly Global ...