Abu Dhabi Court rejects driver’s plea that insurer pay full value for damaged car
Abu Dhabi: The Abu Dhabi Court of Cassation rejected a driver’s plea to have his insurer pay the full value of his car that was damaged in an accident.Instead, the court upheld previous rulings which gave the driver a Dh223,000 payout by his insurance company to repair the car.The driver initially took the case to court after the insurer refused to pay the full value of his vehicle, after which he appealed the first rulings.The Abu Dhabi Court of Cassation ruled that the insurance payout was sufficient to repair the car, and that the value was also enough to rent another car of a similar model...
Super tanker reignites as Govt. plans to lodge claim with insurer | Daily FT
Indian Coast Guard Pollution Control vessel (CG202) Samudra Paheredar and tugs close in on super tanker MT New Diamond to douse the blaze after re-ignition occurred last afternoon – Pic by Indian Coast Guard Super tanker fire reignites due to heavy winds and intense heat: NavyDisaster management, salvage experts called in by owners Govt. calls for stakeholder cost assessment to file interim insurance claimMEPA appoints expert committee to assess environmental impactNew Diamond held at 30 nautical miles from coast, fire-fighting continues, another tug en route to assistBy Asiri FernandoThe fire...
Daily Financial Times
Mexican insurer catering to cross-border workers will expand COVID testing in Baja
TIJUANA, Mexico — A private health insurer and medical provider that delivers health care to U.S. patients in Mexico said Monday it plans to offer free COVID-19 testing in Tijuana.SIMNSA is a California-registered medical provider and health insurance plan that mostly serves U.S. citizens and residents who either live south of the border or wish to get their health care in Tijuana. Testing will start later this month at SIMNSA’s hospital just south of San Ysidro Port of Entry.Frank Carrillo, the company’s founder and CEO, said he is hoping to show the rate of infection in Tijuana is similar to...
The San Diego Union-Tribune
'This is potentially huge': Judge in KC says firms can sue insurer for COVID-19 loss
KANSAS CITY — A ruling from a federal judge in Kansas City on Wednesday could open the window for thousands of businesses whose insurers turned down their COVID-19 claims.“This is potentially huge,” said Tom Baker, a professor of law at the University of Pennsylvania, who has been following the myriad cases against the insurance industry amid COVID-19.“My prediction is that this is not going to be the only case that is going to survive. This is a big deal.”When the pandemic shut down their businesses for 11 weeks, three Kansas City area restaurants — Grand Street, V’s Italiano Ristorante and T...
The Kansas City Star
Dai-ichi Life to buy part of U.S. insurer's business for $1.2 billion
Dai-ichi Life Holdings Inc. said Thursday its U.S. unit will buy the individual life insurance and annuity business of Great-West Life & Annuity Insurance Co. for $1.2 billion.Protective Life Corp., a wholly owned unit of the Japanese insurer, aims to expand its operations in the North American market through the acquisition of the business of the Colorado-based company.The purchase will be completed by the end of June, Dai-ichi Life said in a release.
Tokio Marine to sell reinsurance units to Bermuda firm for $1.5 bil.
Tokio Marine Holdings Inc. said Wednesday it will sell its two reinsurance subsidiaries in Europe to a Bermuda firm for $1.5 billion, detaching a business segment hit with massive payments due to a series of natural disasters worldwide.Tokio Marine will sell its wholly owned units Tokio Millennium Re AG based in Switzerland and Tokio Millennium Re (UK) Ltd. headquartered in London to RenaissanceRe Holdings Ltd. by March, pending regulatory approvals.Tokio Millennium Re, established in 2000, had played a key role in the Japanese insurer's reinsurance business overseas, which involves providing ...