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Indonesia says divers closing in on black boxes from crashed jet
The Boeing 737-500 jet was headed on a domestic flight to Pontianak on Borneo island, about 740 km (460 miles) from Jakarta, before it disappeared from radar screens four minutes after take-off and crashed into the Java sea.
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Travel insurance sector set to face more upheaval in 2021 warns IPP boss
The uncertainty that has accompanied the Covid-19 pandemic has put the travel industry into a huge amount of debt, and it could get a lot worse
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DARAG announces reinsurance agreement with US retailer
DARAG Group (“DARAG”) announces the conclusion of a transaction with a major US retailer to provide finality to its legacy workers compensation liabilities. The transaction was conducted through one of DARAG North America’s insurance entities. Tom Booth, CEO of DARAG Group, said: “This transaction demonstrates DARAG’s ambitions in ...
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U.S. taxpayers to pay Capitol siege tab as government shuns insurance
Taxpayers will pay for damages because federal agencies rarely carry insurance, industry and policy sources said. “Taxpayers will be on the hook for repairs to the Capitol,” said Stephen Ellis, president of Taxpayers for Common Sense, a U.S. budget watchdog group.
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Howden Group Holdings launches Howden Capital Markets (“HCM”) - the Group’s capital markets advisory practice
HCM is a new capital markets adviser with a clear ambition to develop innovative products to service clients, markets and investors.
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Newly launched broker led by ex-Marsh director generates £500,000 GWP during first three months
The new broker has appointed a series of ’insurance heavyweights’ and entrepreneurs; it hopes to expand further in the coming months
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EU may ask too high a price for financial services trade, Bank of England warns
Bailey said between 5,000 and 7,000 financial services jobs had already left Britain for the EU - fewer than some forecasters had feared, though the process was not over.
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Up to 4,000 financial firms could fail due to COVID, says UK regulator
The FCA surveyed 23,000 financial firms to check on their resilience to COVID-19, which last year triggered Britain’s worst economic downturn in 300 years.
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Broker pair form London Re in joint venture
With Brexit underway, the creation of London Re is aimed at directly serving clients in the European Union
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Natural disasters cause $210 billion in damage in 2020 - Munich Re
Overall, the uninsured portion of natural disaster losses in 2020 was around 60%
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COVID-19 tops travel risks for 2021
Violent crime, political instability, severe natural disasters and social unrest are among the other threats to companies and their staff
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Pen Underwriting strikes capacity deal with Zurich for hazardous goods and tanker transportation
MGA Pen Underwriting has confirmed a five-year capacity deal with insurer Zurich for its hazardous goods and environmental industries’ motor fleet proposition.
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MS Amlin Underwriting launches Phoenix 1 Re
Phoenix 1 Re Pte. Ltd. is the landmark first locally issued ILS to provide capacity to a local cedant, solely focused on the Pan-Asia region.
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GCC Secretary General welcomes reopening of Saudi Arabia-Qatar airspace
GCC Secretary General Dr. Nayef Mubarak Al Hajraf has welcomed the reopening of airspace and land and sea borders between Saudi Arabia and Qatar, announced by Sheikh Ahmad Nasser Al Sabah, Kuwaiti Foreign Minister.
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Breakthrough reached in Gulf dispute with Qatar
The development is the latest in a series of Middle East deals sought by Washington - the others involving Israel and Arab states - aimed at building a united front against Iran.
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Network boosts Lloyd’s and London market offering for its brokers
Network specialist Compass London Markets has joined forces with wholesaler Bishopsgate, meaning its brokers will enjoy an improved offering to Lloyd’s and London market.
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The Journal, 3rd edition: Construction Risk
StrategicRISK and Swiss Re Corporate Solutions launch the third edition of The Journal examining construction risk