Global Economy
On-Demand Delivery Drones Arrive in Iceland
An Israeli autonomous drone delivery company has started commercial operations in Reykjavik, Iceland, one of the first in the world to offer the service on demand. Tel Aviv-based Flytrex's drones ...
Harvey’s Impact on Insured and Uninsured Alike Soars in Growing Economic Catastrophe
Hurricane Harvey's second act across southern Texas is turning into an economic catastrophe -- with damages likely to stretch into tens of billions of dollars and an unusually large share of victims ...
Parmesan Cheese Labeling Lawsuits Tossed by U.S. Judge
A U.S. judge on Thursday dismissed lawsuits by consumers who had sued food manufacturers and retailers over their "100% grated Parmesan cheese" labels, alleging they were deceiving buyers because the ...
Safe Driving Algorithm Project Begins Involving Sompo Japan, Accenture and a Japanese Cab Company
Sompo Japan Nipponkoa Insurance, Accenture and a Japanese cab company will work jointly to develop a deep learning algorithm designed to help better understand driving behavior and improve safety in ...
The Latest Launches From Ironshore and Beazley
Ironshore now has a team devoted to managing cyber claims across all of its product lines. Beazley debuted expanded protection meant to address schemes such as the kind where employees are illegally ...
UK Financial Sector Proposes ‘Ambitious’ Post-Brexit Trade Pact
The UK's financial sector is seeking an "ambitious" trade pact between Britain and the European Union to try to prevent a costly shift of jobs and business to the continent once the country leaves ...
Fairfax Financial Will Sell Singapore Insurer to Mitsui Sumitomo for $1.6B
Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore's First Capital Insurance for $1.6 billion from Canada's Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in ...
New P/C Insurance Products Delayed by Old Policy Form Tech: Novarica
A reliance on manual processes and inadequate technology leaves property/casualty insurers with major delays in updating their coverage forms. A new industry report found that as a result, most ...