Global Economy
South African Insurer Accepts Liability for Some Rejected COVID-19 Business Interruption Claims
South African insurer Santam will begin assessing payouts for some previously rejected coronavirus-related claims after recent court judgments on such cases but still intends to challenge one finding ...
Crash Victim Families Want U.S. to Reverse Approval Bringing Back Boeing 737 MAX Planes
The families of victims killed in two crashes by Boeing Co's 737 MAX want U.S. regulators to rescind approval for the planes to fly again, following a Senate report that raised concerns about the ...
Arch Capital Group Promotes Papadopoulo to President and Chief Underwriting Officer
Arch Capital Group Ltd. (ACGL) announced that Nicolas Papadopoulo will be promoted to the position of president and chief underwriting officer, effective Jan. 1, 2021. Papadopoulo joined Arch in 2001 ...
2020 InsurTech VC Financings: Only A Handful Reached $100M or More
Carrier Management covered more than 30 property/casualty-specific InsurTech venture capital financings in 2020. The rough total of those combined investments surpasses approximately $1.7 billion. ...
Norway Lawsuit Dismissed, Allowing Plans for Arctic Oil Drilling to Proceed
Norway's supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people's right to a healthy environment. While most of ...
Cyber Remains Viable for Insurers Even as Attacks Escalate
It could go down as one of the most significant cyber attacks yet. Russian hackers breached a number of U.S. government agencies and dozens of private businesses through a tainted update downloaded ...
Aon Says $30B Acquisition of Willis Towers Watson Remains on Track Despite EU Probe
Aon plc confirmed that the European Commission (EC) has initiated a review of the company's proposed $30 billion bid for Willis Towers Watson. Aon said the Phase II review is a common next step "for ...
Suspected Russian Hack of U.S. Government More About Espionage Than War
The suspected Russian hack of U.S. government agencies has led to heated rhetoric from lawmakers, with U.S. Senator Dick Durbin calling it "virtually a declaration of war" and U.S. Senator Marco ...