Singapore Airlines Offers Compensation for Flight Hit by Turbulence

[ad_1] Singapore Airlines has sent compensation offers to passengers on a flight last month from London to Singapore that ran into severe turbulence, causing dozens of injuries and a death, the carrier said on Tuesday. Passengers with minor injuries have been offered $10,000, while those with serious injuries can discuss offers to meet specific needs, … Read more

Details of Aviation Lessor Settlements With Russia Over Trapped Planes

[ad_1] Aircraft leasing firms have struck settlements with Russia totalling around $2.7 billion for over a quarter of the roughly 400 aircraft stuck in the country since Moscow’s invasion of Ukraine in 2022. In return, international lessors handed ownership of the planes to state insurance company NSK, which transferred them to Russian airlines. Lessors have … Read more

Howden Launches 1st Carbon Credits Warranty & Indemnity Insurance Policy

[ad_1] Howden, the London-based insurance intermediary group, announced the placement of the first carbon credits warranty and indemnity (W&I) insurance policy. The W&I policy provided insurance cover on the sale of carbon credits for the reafforestation project of degraded forest lands by Mere Plantations, a UK-based company that owns and operates a teak plantation in … Read more

Supreme Court Backs NRA in First Amendment Claim Against New York Regulator

[ad_1] The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization’s First Amendment rights by coercing insurers and banks to terminate their business relationships with the NRA in order to punish or suppress the NRA’s gun rights advocacy. “Government officials cannot … Read more

Nationwide’s Chetan Kandhari Said the Company Is Working to Build a Bionic Workforce.

[ad_1] Nationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing humans. Bionic simply means that biological components are aided by technology or electronics, and he said this balance is key in … Read more

AI Chatbots, Gen AI Set to Revolutionize Insurance Claims Processing: Survey

[ad_1] A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. Gallagher & Co. The survey found that insurers in 2024 are placing an emphasis … Read more

Catastrophe Bonds Are Luring Retail Investors to High-Risk Debt

[ad_1] There was a time when investing in catastrophe bonds was the preserve of hedge funds and other sophisticated alternative asset managers. But after underpinning the best hedge fund strategy of 2023, the bonds are finding a wider audience. Catastrophe-bond funds marketed under Europe’s UCITS label, which is designed to protect retail investors, have seen … Read more