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Endurance presents new environmental liability product

A new series of environmental liability insurance products will be offered by Endurance Global Risk Solutions Bermuda-based Endurance announced today that it has launched a new series of environmental liability insurance products, which will be offered by Endurance Global Risk Solutions, a new business line which aims to target middle market and large account risk...

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Fire under control in Iran gas pipeline blast: company official

ANKARA/ DUBAI (Reuters) – A fire from a gas pipeline explosion in Iran early on Saturday near the town of Gonaveh in the southern province of Bushehr, has been brought under control and did not cause any fatalities, the news agency of the country’s oil ministry said on Saturday. Earlier, a local official had told...

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Insurers are unprepared for driverless vehicles KPMG

Insurers are unprepared for the arrival of driverless vehicles, a new study from KPMG says. The Autonomous Vehicle Insurer report found that many of the UK’s largest insurance companies agreed that driverless vehicles would touch every area of their business model. Key points: But only 10% of insurers said they had strategic plans in place...

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Gloomy outlook for Asia-Pacific insurers, says S&P

The Asia-Pacific insurance sector’s net ratings outlook is “somewhat negative” and pressure is expected to grow if a China-led regional slump worsens, according to Standard & Poor’s (S&P). “Insurers’ investment performance has dipped and become more volatile, while mounting competition has cut profit margins,” the ratings agency says. “Furthermore, business prospects for the insurance sector...

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Natural catastrophes cause $27 billion in insured losses in first half

Sarah Veysey Insured losses from natural catastrophes were $27 billion for the first half of 2016, up from $19 billion a year earlier, according to statistics released Tuesday by Munich Reinsurance Co. Overall, losses from natural catastrophes in the first half of 2016 totaled $70 billion, up from $59 billion in the first half of...

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Iran Petrochem Industry Hit by 2nd Fire in 1 Month

A fire at a petrochemical complex in western Iran was extinguished within hours after it broke out on Friday. The blaze at the Bistoon Petrochemical Company in Kermanshah Province was doused “within a few hours”, Shana quoted firefighters at the scene of the accident as saying. The complex produces linear alkyl benzene (LAB) and heavy...

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