Global Economy
D&O Liability Cover Will Help Address VW’s $351M Emissions Settlement With Former Execs
Volkswagen said on Wednesday it had agreed to settle claims against four former executives, including long-time CEO Martin Winterkorn, that will see the carmaker receive 288 million euros ($351 ...
Insurers Could Spend $20B to Implement New International Financial Reporting Standard: WTW Survey
Global insurers face a hefty price tag to implement a new international financial reporting standard, according to a new Willis Towers Watson survey. The global insurance industry will spend between ...
Climate Stress Test for Insurers and Banks Debuts at Bank of England
The Bank of England on Tuesday set out its first comprehensive stress test of the ability of the British financial system to cope with climate change, saying the results will not be used to determine ...
Liability Shield Doesn’t Belong in Trade Deals, Internet Coalition Warns Biden
A coalition of internet accountability groups is warning the Biden administration against including liability protections for tech companies in future trade agreements, saying that could hamstring ...
Australia May Cap Fees for Class Action Funders and Lawyers
Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in ...
COVID Took a Big Bite From Multiline Insurers’ Earnings But Profit Remained: S&P
The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global ...
Chubb Awards $1.1M in New Philanthropic Grants to Fight Racism
Chubb said it is strengthening its efforts to fight racism in America's justice system through $1.1 million in new philanthropic grants. The money is divided into four grants designed to promote ...
Energy Companies Globally Risk Legal Action After Landmark Shell Climate Change Ruling
A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around ...