A Portland, Oregon, man who was locked in a Burger King bathroom for more than an hour in mid-December 2018 now wants Whoppers for life, according to a report on local news station WIBV-4’s website Friday. Curtis Brooner, 50, who filed his lawsuit this month, went to the Burger King on Dec. 15 and went to the bathroom after he finished his favorite meal. When he tried to leave, the door would not open, the station reported. He alleges in his suit that he had also cut his hand using a fly swatter an employee slid under the door to help pry open the lock, unsuccessfully, and that he could hear employees laughing at the situation, according to the news station. A locksmith was later called and “Burger King provided Mr. Brooner a Band-Aid and ointment for the cut on his hand, and offered to settle in exchange for a lifetime supply of Burger King meals at no cost,” according to the suit, accessed by the news station. Yet “Burger King reneged and told Mr. Brooner that it no longer intended to honor the agreement,” the lawsuit states. Now he wants Burger King to either honor the agreement or pay him $9,026.16, a figure that amounts to one Whopper meal a week until his life expectancy of 72 years old, the station reported.
Citing ample capacity in existing markets, Pool Re said it would cease writing terrorism contingency cover previously offered to its members, beginning after the first quarter. In a statement Monday, Pool Re said “as a result of sufficient capacity now existing within the commercial insurance and reinsurance markets to cover contingency losses arising from acts of terrorism,” Pool Re “will cease to reinsure Members for the contingency cover they provide to their insureds.” The state-backed terrorism reinsurer began writing such cover shortly after London was awarded the 2012 Olympic Games because the commercial market said it did not have the capacity, the statement said, adding that most of the risks previously ceded to Pool Re involved sporting events, concerts and tours. Commercial contingency markets now wish to retain such risks and not reinsure them to Pool Re, the statement said.
U.K.-based cyber insurance comparison platform Cyber|Decider has said that the lack of standard terminology in cyber insurance policies is causing confusion for brokers and customers and is ultimately stifling market growth, UK Tech News reports. Cyber|Decider said that there is a lot of confusion about the policies available and the terms of cover because insurers fail to use standard wording.
A survey by U.S.-based professional services provider Ernst & Young L.L.P. found that insurers, banks and money managers are planning to move around £800 billion ($1 trillion) of assets from the United Kingdom to the rest of Europe amid Brexit uncertainty, Bloomberg reported. Ernst & Young’s estimate is based on statements from 20 companies that have announced a transfer of assets out of London. Additionally, the professional services firm expects more than 7,000 jobs to relocate from London.
(Reuters) — About 100 million users of Quora were affected by unauthorized access to one of its systems by a “malicious third party,” the knowledge-sharing website said Monday.Account information, including name, email address, encrypted password and data imported from linked networks when authorized by users may have been compromised, it said.The company said it is logging out all Quora users who may have been affected to prevent further damage.“We are in the process of notifying users whose data has been compromised,” Quora CEO Adam D’Angelo said in a blog post.The breach, discovered Friday, did not affect question and answers that are written anonymously, the company said, adding that it has also notified law enforcement officials.“We have retained a leading digital forensics and security firm to assist us,” it said.The Quora Inc.-owned website was founded in 2009 by Mr. D’Angelo and Charlie Cheever, two former Facebook employees.
Most property/casualty policyholders are expected to experience flat to 5% rate increases in 2019, with pricing challenges likely to persist in specific coverage lines such as property-exposed accounts in wind-prone areas, habitational risks and large commercial trucking fleets, according to a report by USI Insurance Services LLC.The property/casualty industry is well capitalized and surplus now stands in excess of $760 billion, according to USI’s 2019 P&C Insurance Market Outlook Report released on Friday. The industry’s combined ratio as of mid-2018 is 98%, according to various rating agencies, but this will likely approach 100% by year’s end, the report predicted.“P&C market surplus will likely continue to grow, fueled by a booming economy, resultant growth in net written premiums and ever-expanding levels of alternative capital,” the report stated. “In the face of competition from other carriers looking to deploy their surplus capital, incumbent markets are often reluctant to walk away from what they perceive to be below-market pricing and will rather look to strike a compromise with clients and brokers to retain business.”Policyholders in windstorm, flood and fire-prone areas are likely to experience upwards rate pressure while those in more hazardous industries or with deteriorating loss profiles may be forced to consider retaining more risk to maintain rate, according to the report.
U.K.’s airline regulator has begun enforcement action against Ireland-based Ryanair Holdings P.L.C. for refusing to compensate passengers for strike-related disruptions, Sky News reported citing sources. The Civil Aviation Authority said that the strikes were not “extraordinary circumstances” and therefore not exempt from European Union compensation rules. A series of walkouts by pilots and crew in Spain, Belgium, Holland, Portugal, Italy, Ireland, Sweden, France and Germany forced Ryanair to cancel several hundreds of flights on strike-hit days this year.
Swiss consultancy firm Secquaero Advisors Ltd. said that the insurance-linked securities sector is likely to face challenges following large catastrophe losses in 2017 and this year along with low returns, Artemis.bm reports. Dirk Lohmann, chairman of Secquaero Advisors, said that several ILS players may not offer new capacity at the upcoming January 2019 renewals. Mr. Lohmann said that aggregate reinsurance capacity is unlikely to grow in the near term unless reinsurance rates increase during the renewals.
Lloyd’s of London syndicates could face higher reinsurance and retrocession rates or unfavorable terms after delaying their renewal plans for 2019, Artemis.bm reported citing sources. Lloyd’s underwriters are also likely to face tougher capital requirements to operate in 2019 following increasing underperformance, the sources said. Reinsurance rates are expected to increase for the January 2019 renewals due to a potential capacity crunch, the sources added.
Mexico’s National Chamber of Trucking said that cargo insurance costs have surged 130% after the number of highway robberies increased 90% this year, Mexico News Daily reported. Data from the National Public Security System showed that more than 21,500 cargo thefts occurred this year. Data showed that 28% of all truck robberies occurred in Mexico State while 25% of thefts occurred in the state of Puebla.
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