Massive insurance battle results from Russia’s seizure of 400 planes

Insurance battle - Russia Flag - Plane

Aircraft lessors are filing claims for payouts, but insurers don’t agree that coverage extends that far. When Russia invaded Ukraine, it threw a number of markets into turmoil, and in the case of the aircraft market, it has also led to a tremendous insurance battle. Aircraft leasing firms provide approximately half of the 1,000 planes in Russian airline fleets. The aircraft leasing firms are from outside Russia and are finding themselves locked between Russian airlines that refuse to pay and insurers who say they’re not obligated to do so. This…

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Insurance news doesn’t look good for Canadian Olympic hockey team

insurance news Team Canada hockey Olympics

Team Canada has been kept off the orientation camp ice due to the prohibitive cost of insuring its players. Steve Yzerman, the executive director of the national men’s hockey team for Canada that is headed to the Sochi Olympics, has announced the insurance news that the coverage for the players was too costly for them to be able to take part in their orientation camp. Though he said that he’d like to have had the players practice, the costs were too high to make that happen. The four day orientation…

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Russian government tries to improve road safety with augmented reality

Lawmakers and auto insurers worldwide have turned their attention to Russia, where the government has chosen to take advantage of some of the latest forms of technology in order to attempt to manage the growing traffic collision problems that have been occurring in Moscow of late. The top officials in the country will be using technology such as augmented reality in order to raise awareness. A new Russian Ministry of Transport has created a mobile app that uses augmented reality to spread awareness of safety. The methods have been deemed…

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