22 March 2017 - US-based insurer he Progressive Corp.'s (NYSE: PGR) Progressive Direct Insurance Co subsidiary and Australian insurer The Hollard Insurance Co Pty Ltd have entered into definitive agreements in which Hollard will acquire Progressive's portfolio of insurance policies in Australia, the companies said.
Baku, Azerbaijan, Mar. 24 By Anvar Mammadov - Trend: Azerbaijan's life insurance market was 20.32 million manats in January-February 2017, which is 7.6 percent less that in the same period of 2016, the Financial Market Supervisory Authority (FIMSA) said in a report.
In Brazil, police have accused inspectors of taking bribes to allow sales of rotten and salmonella-tainted meats. Brazil is the top supplier of beef to China, with 31% of its imports in the first half of last year.
Targeted News Service,
March 23, 2017 Thursday 2:40 AM EST
The Washington state Office of the Insurance Commissioner issued the following news release: Satrauna Turk, 55, of Puyallup, pleaded not guilty in King County Superior Court yesterday to one count of filing a fraudulent insurance claim, a felony. Turk is scheduled to appear in court again on April 5.
March 23, 2017 Thursday 02:16 AM EST
SAN FRANCISCO - California is not just fighting nature as it attempts to repair the nation's tallest dam, badly damaged last month by surging storm waters. It's also racing the clock. Safety experts say there is no time for delay in a state plan to restore the 770-foot Oroville Dam, and they warn California would face a "very significant risk" if a damaged spillway is not in working order by fall, the start of the next rainy season. A Nov. 1 target to fix the spillway presents "a very demanding schedule, as everyone recognizes," said a repo ...
The developer of the Dakota Access pipeline has reported "recent coordinated physical attacks" on the much-protested line, just as it's almost ready to carry oil. Texas-based Energy Transfer Partners didn't give details, but experts say Dakota Access and the rest of the nearly 3 million miles of pipeline that deliver natural gas and petroleum in the U.S. are vulnerable to acts of sabotage. It's a threat that ETP takes seriously enough that it has asked a court to shield details such as spill response plans and features of the four-state pip ...
FULL TEXT In Maine, if you lose your job and want to receive unemployment benefits, the state forces you to put your most sensitive personal information at risk. Applicants have no choice but to enter their Social Security numbers int othe Maine JobLink website in order to receive benefits. Now that data appears to have been stolen. Follow-up to today's story about the JobLink data breach. The Maine Department of Labor's antiquated computer system had an indirect role in exposing thousands of Mainers' Social Security numbers to a computer hac ...
Survey teams from the government and the insurance company for the British-owned MV Caledonian Sky, which ran aground on coral reefs in West Papua's famous Raja Ampat, have reached a conclusion regarding the area damaged by the cruise ship.
FOLLOWING the introduction of a new personal injury discount rate - one of the most significant developments to hit insurers' claims costs for some time - Guy Mills, managing director at UK insurance broker Arthur J Gallagher, based on Newhall Street, Birmingham, outlines what the change could mean for businesses and their insurance premiums. What has changed? The Ministry of Justice has made changes to the 'Ogden discount rate', which provides a framework for calculating compensation pay-outs for those with serious personal injuries, who ar ...
The national insurance regulator and General Insurance Corporation (GIC) will come out with a policy that will make it mandatory for everyone buying a new vehicle to pay third party insurance premium for three and five years for cars and two wheelers, respectively, at the time of registration.
SEOUL: 21 March 2017 (Yonhap News Agency) Hacking attempts on the South Korean military's computer networks have markedly increased this month amid strained ties with China and North Korea's continued belligerence, the defense authorities said Tuesday. "Recently, attempts to breach (our) cyber networks have somewhat increased," Moon Sang-gyun, a spokesman for the Ministry of National Defense, said at a press briefing. But there has been no actual damage, he added.
Governance, Risk & Compliance Monitor Worldwide,
March 22, 2017 Wednesday
Martin Turner, aged 50 of Eynsford, Kent has been sentenced to five years for fraud by abuse of position of trust at Inner London Crown Court after he masterminded the theft of more than 1.8m from the insurance underwriting agency he worked for.
State Bank of India's doors may well remain closed for other insurance companies for distribution as it may take time for it to educate its staff about insurance even as sale of policies of its own subsidiary SBI Life is just limited to a few thousand branches.
New guidelines which come into effect on 1st April will help consumers avoid being overcharged by greedy insurers who bank on their loyalty when their home insurance is due for renewal. Providers will be required to show how much the premium has increased, which is intended to improve transparency and encourage customers to shop around rather than accepting huge rises on policies which often auto-renew.
Growth for Saudi insurers was modest in 2016, at only one per cent, according to report by A.M. Best, based on analysis of 33 Saudi insurance providers. Additionally, many of those insurers, as well as others, earned a profit in 2016 compared with 2015.
Business News Americas - English,
March 17, 2017 Friday 3:39 PM GMT
Brazil is the 15th largest insurance market in the world, according to a study conducted by Allianz. Climbing steadily from its 2006 ranking of 23, the country's sector brought in 47bn euros (US$50.5bn) in gross written premiums last year, or 2.9% of GDP.
OWTH of insurance premium revenue on China's mainland accounted for nearly half of the global premium growth last year driven by China's fast expansion of life insurance market, Allianz Research said in a report.
India, March 19 -- The intense rains, overflowing rivers, mudslides and flooding being experienced in Peru are the worst seen in two decades, affecting more than half the nation as the death toll since the beginning of the year hit 72, authorities said.
S&P Global Ratings said that the Gulf States have started to look much more critically at their expenditures (Despite Economic Pressures, Growth Is Set To Continue Across Largest Gulf Insurance Markets).
New Delhi, March 19 -- The Insurance Regulatory and Development Authority of India (Irdai) has proposed an increase of up to 50% in the third-party liability premiums of motor insurance. Revisiting the premiums is an annual exercise for the insurance industry. This is done mainly in an attempt to rein in the claims ratio, which is difficult to contain. Claims ratio is the ratio of net claims to net premiums. So, the industry is currently paying more to settle third-party claims than what it is receiving for third-party insurance. And while t ...
RIO DE JANEIRO, March 19. /TASS/. Brazil fears that it may lose foreign markets for its agricultural products due to a scandal surrounding the sales of rotten meat by some of its companies, Agriculture Minister Blairo Maggi said Saturday.