Tag: International insurance news

Notre Dame fire insurance is non-existent, but donations for repairs are high

Julie Campbell
Notre Dame Fire - Notre Dame Cathedral

The French State owned cathedral was self-insured as there isn’t coverage available for priceless artwork and structures. The devastating and heartbreaking Notre Dame fire was watched from around the world. Thoughts and prayers poured in to Paris expressing sympathy for the loss of so much of the historical and religious structure. At the same time, many were asking who would have to foot the bill to have it rebuilt. The cathedral was 856 years old at the time of the Notre Dame fire. It was irreplaceable unto itself but also…

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Russell Higginbotham announced as new Swiss Re CEO

G. Turner
Swiss Re CEO - New CEO Announced - Business

The incoming chief executive officer will replace Jean-Jacques Henchoz, who is leaving the insurer. Group Executive Committee member, Reinsurance EMEA and Regional President EMEA, Russell Higginbotham will become the Swiss Re CEO on September 1, 2018. The previous chief executive officer made the decision to seek an opportunity outside Swiss Re. Russell Higginbotham isn’t at all new to the insurer. Before being named as the new Swiss Re CEO, Higginbotham has been working for the firm for 24 years throughout a spectrum of different geographies and business areas. His most…

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Earthquake insurance and preparedness low in Israel, despite risk

Julie Campbell
Earthquake Insurance - Earthquake aftermath - disaster - house collapse

The region typically experiences large quakes every 80 to 100 years and is now coming due. In Israel, preparedness and earthquake insurance to protect against a major quake remains too low. The State Comptroller, Yosef Shapira has now issued a warning to the country that preparedness is entirely inadequate. This is a serious problem as the country is now considered to be due for a major earthquake. Earthquake insurance coverage is only one of many steps residents and businesses could take to protect themselves. Over the last week or so,…

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India’s crop insurance program fanfare fades with shrinking coverage area

H. Cutner
crop insurance program - farm

The Narendra Modi government’s scheme was highly popular when it first launched but is getting smaller. India’s crop insurance program first launched two years ago. At that time, it was tremendously celebrated and highly popular. That said, this year it has experienced negative growth. The reason is that its coverage area has dropped to 24 percent of the gross cropped area (GCA) from 2017 to 2018. This is considerably smaller than the 2016 to 2017 year when it had been 30 percent of the GCA. The target for the crop…

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Women hold only one in five top insurance industry jobs

Julie Campbell
Top insurance industry jobs - Women in Business

A recent UK study showed that despite an overall industry gender balance, top jobs belong mainly to men. Of every five top insurance industry jobs four are filled by men and only one is filled by a woman. This, according to a recent study in the United Kingdom. This reveals a gender imbalance within this industry that was not entirely obvious to spot. The reason is that when looking at the employment data across the entire insurance industry, women and men fill nearly the same total number of jobs. However,…

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