Global Economy
Tesla Loses Effort to Block Lawsuit Claiming Racism at California Factory
A federal judge rejected Tesla Inc's effort to dismiss claims by two former workers that the California electric car factory where they worked was a hotbed of racial hostility, clearing the way for a ...
2019 Insured Losses Reach an Estimated $56B: Swiss Re
Global insured losses in 2019 dropped to an estimated $56 billion, from $93 billion in 2018 and below the annual average $75 billion of the previous 10 years, according to preliminary sigma estimates ...
It Burns: EU Court Rules Airlines Can Be Held Liable for Spilled Coffee
It might be harder to get hot coffee at 30,000 feet after the European Union's top court said that airlines can be held responsible for injuries caused by spilled drinks, even if it isn't clear how ...
MS Amlin Will Exit Several Classes of U.K. P/C Business
MS Amlin, the London-based insurer and reinsurer, said it will cease underwriting corporate property, real estate, casualty and package binders through its U.K. P/C business with effect from Jan. 31, ...
$584B at Risk From Cat Events in 2020: Cambridge Study
Providing an annual update of its study of the impact of catastrophic events on global GDP, researchers from the University of Cambridge find that roughly $584 billion could be wiped from the global ...
AIG’s Zaffino Adds ‘President’ to His C-Level Titles
American International Group awarded Peter Zaffino a promotion, making him president of the insurance giant. Zaffino takes on the new role as of Jan. 1, 2020, though he'll still serve as Global Chief ...
Bayer Seeks Reversal of $25M Roundup Verdict
Bayer AG on Monday said it has asked a U.S. federal appeals court to throw out a $25 million judgment it was ordered to pay to a California man who blamed the company's Roundup weed killer for his ...
British Regulator Explores Data Sharing Expansion Into Insurance, Other Industries
Britain's Financial Conduct Authority (FCA) is investigating whether sharing data with outside competitors could be extended beyond banks to savings, insurance, mortgages, investments, pensions and ...