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Report from New York Health Officials Calls for Pot Legalization
Proposals to permit recreational marijuana use in New York state took a big step forward Friday when state health officials issued a long-awaited report concluding that the benefits of legalization outweigh the risks. The 74-page analysis from the Department of …

POSTED JULY 16, 2018 12:42 PM
Did Big Data Enable Lloyd’s to Predict France’s World Cup Win? Well, Maybe…
Ahead of the recent World Cup in Russia, Lloyd’s of London predicted that France would be victorious. And victorious they were – with a 4-2 win against Croatia on Sunday. Interestingly, Lloyd’s also predicted Germany’s win against Argentina in 2014. …

POSTED JULY 16, 2018 12:22 PM
UK PM’s Brexit Plans Threatened by Euroskeptics; Others Support 2nd Referendum
Theresa May’s long-running battle with her divided Conservative Party took a potentially more dangerous turn, as one of her former ministers began assembling lawmakers to vote against her Brexit plans. Euroskeptic Tories are angry that the prime minister wants to …

POSTED JULY 16, 2018 10:28 AM
NTT DATA UK to Provide Robotics Services for TMK’s Marine Transactions
NTT DATA UK, a Tokyo-based consulting and IT services provider, announced it has entered into a partnership to provide robotics services to Tokio Marine Kiln (TMK). NTT DATA UK’s Cargo 10 Virtual Worker is the first of several planned Robotic …

POSTED JULY 16, 2018 8:32 AM
UK Retailer Debenhams Denies Cash Crunch From Cut in Suppliers’ Credit Insurance
British department store retailer Debenhams said it had a healthy cash position after a media report on Sunday saying insurers had cut cover for its suppliers sent its shares lower. Shares in Debenhams fell as much as 8 percent on …

POSTED JULY 16, 2018 8:08 AM
Sustainable Re/Insurance Industry Vital in Uncertain World: Swiss Re’s Ojeisekhoba
Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more than 1,800 people and …

POSTED JULY 16, 2018 7:52 AM
U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance
New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

POSTED JULY 16, 2018 6:07 AM
Judge Rules Airbnb Can’t Dodge Aimco’s Illegal Sublease Claims in Miami
Airbnb Inc., having escaped a major U.S. landlord’s lawsuit over partying tourists at high-end Los Angeles apartments, will have to defend itself against the same allegations by the same landlord in Miami. A Florida state court judge on Wednesday denied …

POSTED JULY 16, 2018 5:03 AM
Insurance Industry Is Rethinking Cat Modeling After Last Year’s Disasters
After Hurricane Harvey swept through Texas last August, it not only left behind nearly 50 inches of rain in some areas and an estimated $125 billion in damage, but questions for the insurance industry in terms of how to approach …

POSTED JULY 16, 2018 5:00 AM
P/C Insurers Double Q1 Profit on Tax Changes, Growing Economy, Lower Cat Losses
Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit this year. Insurers’ net income after taxes surpassed $17 billion during the first three months of the year, compared to …

POSTED JULY 16, 2018 5:00 AM

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