Coca-Cola sues Lloyd’s and Hannover Re for $1m over BI losses in Nepal

Coca-Cola sues Lloyd’s and Hannover Re for $1m over BI losses in Nepal

Coca-Cola sues Lloyd’s and Hannover Re for $1m over BI losses in Nepal

Drinks company Coca-Cola is demanding close to $1m in compensation from its insurers for unpaid business interruption (BI) losses incurred during the Nepal-India blockade between 2015 and 2016. The lawsuit, filed in Coca-Cola’s home state of Atlanta, implicates both insurer Hannover Re and underwriter Lloyd’s, and claims that the losses were covered under its political risk policy. The blockade, which…

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s targets Asia for cyber insurance demand

Lloyd’s CEO Inga Beale anticipates a “massive increase” in cyber insurance business across Asia this year. Lloyd’s currently has a 25% share of the global cyber insurance market, with the majority of it written in the US and a growing amount in Europe. In both cases, a big driver of adoption has been regulation – more specifically the requirement to…

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Coface sees global business confidence growing but political risk widespread

Despite persistent political risk, business confidence is reported to be growing in the advanced economies, and financial markets are buoyant. This, combined with economic recovery in the emerging countries, has led Coface to upgrade its global growth forecast to +2.8% and that of global trade to +2.4%. Coface said the rise in business confidence is perceptible but is not yet…

A good year ahead for Asian insurance buyers: Aon

A good year ahead for Asian insurance buyers: Aon

A good year ahead for Asian insurance buyers: Aon

Overall, 2017 should be a positive year for risk managers and insurance buyers, thanks to abundant capacity and decreasing rates, even in areas of growing exposure such as cyber and credit default. This is the conclusion of the 2017 Asia Market Review, conducted by global broker Aon. The fourth annual report on insurance and risk trends in Asia states that…

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

Coface upbeat despite political uncertainties weighing on trade

The rise of populism in Europe, uncertainties around Brexit and US President Donald Trump’s protectionist policies are some of the main threats to the global economy in 2017, according to credit insurer Coface. However, the firm predicts improved global growth in 2017 and, for the first time since mid-2015, has awarded more country risk upgrades than downgrades. In a global…

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