10/29/2018 5:56:00 AM
Source:Business Insurance
The U.S. Geological Survey said that a 6.1-magnitude earthquake struck off the coast of El Salvador near the town of Acajutla on Oct. 28, ABC News reported. Carlos Lopez Mendoza, an official at the Salvadoran Red Cross Society, said that there were no reports of damages or victims.
10/29/2018 5:57:00 AM
Source: Business Insurance
Philippine maritime industry association United Filipino Seafarers said that several local shippers have yet to buy insurance despite regulations and increasing accidents, Manila Bulletin reported. Nelson Ramirez, the association’s president, called on the country’s maritime regulator to check if domestic shippers comply with its circular directing all ship operators and owners to cover legal liabilities for maritime accidents.
10/29/2018 5:59:00 AM
Source: Business Insurance
Indian insurers need to include a separate clause covering sexual misconduct in directors’ and officer’ liability insurance policies to deal with potential legal expenses for firms, third parties and business partners, Moneycontrol reported. Several companies in the advertising, media and entertainment sectors recently suspended individuals accused of sexual harassment.
When I was a child helping my Dad with his various DIY projects, he would often give me mini projects to do usually involving a hammer and nails or a screwdriver or a sheet of sandpaper or some randomly sized spanner. I would often remark (complain) that it would be easier and faster if I could just get to use the power drill or the electric sander, to which my Dad would respond “You can’t handle that power yet” and then go on with his project. My Dad is a man of few words. So, when it came to helping me get my first car as a 19 year old, and he saw one of my early choices, he simply said “You can’t handle that power yet” and refused to sign the cheque.
Fast forward to today and very few teens (and even a lot of adults) have any real experience with tools or DIY projects but that’s a different topic for another article!
“So Mom/Dad…what about that car you promised me when I graduate?”
When it comes to making a purchasing decision about cars, both teens and adults are bombarded with the latest ads for newer and more powerful vehicles from the micro compact cars right up to military grade SUVs and trucks. For this article we’ll consider primarily regular cars and SUVs that you’ll find on any street in the Cayman Islands. The factors in choosing a car go well beyond just the cost of the vehicle itself and it has become a much more complicated decision. So today we’ll try to break this big decision into smaller, easier to handle pieces and we may also do some myth busting in the process.
10/24/2018 2:30:00 PM
Source: Business Insurance
(Reuters) — A U.S. federal appeals court on Tuesday reinstated a lawsuit by a group of former child slaves accusing the U.S. unit of Nestle SA, the world’s largest food maker, and Cargill Co. of perpetuating child slavery at Ivory Coast cocoa farms.
Judges of the 9th U.S. Circuit Court of Appeals in Pasadena, California, said in a unanimous decision that the group could proceed with its claims despite the alleged abuses having occurred overseas.
“In sum, the allegations paint a picture of overseas slave labor that defendants perpetuated from headquarters in the United States,” the court wrote.
The court did not rule on the merits of the plaintiffs’ claims.
The plaintiffs, originally from Mali, are contending that the companies aided and abetted human rights violations through their active involvement in purchasing cocoa from Ivory Coast (Cote d’Ivoire).
Judy Greenwald
10/24/2018 12:59:00 PM
Source: Business Insurance
Crashes have increased by up to 6% in four states that have legalized marijuana for recreational use compared with neighboring states that have not done so, said the Insurance Institute for Highway Safety and the Highway Loss Data Institutes on Wednesday.
The Arlington, Virginia-based organizations said analysts compared the data from Colorado, Nevada, Oregon and Washington, which have legalized marijuana, with the control states of Idaho, Montana, Utah and Wyoming. The combined state analysis is based on collision loss data from January 2012 through October 2017.
A separate IHIS study examined 2012-2016 police-reported crashes before and after retail sales began in Colorado, Oregon and Washington, and concluded the three states combined saw a 5.2% increase in the rate of crashes per million vehicle registrations, compared with neighboring states that did not legalize marijuana sales.
The statement said that while driving under the influence of marijuana is illegal in all 50 states and the District of Columbia, determining impairment is challenging because unlike alcohol, the amount of marijuana present in a person’s body does not consistently relate to impairment.
The statement said legalization of marijuana for recreational use is pending in New Hampshire, New Jersey, New York and Pennsylvania. In November, referendums on marijuana will be held Michigan and North Dakota, while Missouri and Utah voters will decide whether to expand medical marijuana laws in their states.
10/25/2018 6:16:00 AM
Source: Business Insurance
Drought and low river water levels in Germany have forced shippers to suspend commercial transport operations along the River Rhine and Elbe, TheLocal.de reported citing Agence France-Presse. Oliver Grossmann, head of Germany-based shipping firm CTS Container-Terminal GmbH, said that hundreds of containers have piled up at the Port of Cologne as rail transport is insufficient to manage the extra load. The drought has disrupted supply-chains and hampered production at several companies including engineering giant Thyssenkrupp A.G., chemicals company BASF S.E., and power utility RWE A.G.
10/23/2018 5:47:00 AM
Source: Business Insurance
Spain’s Insurance Compensation Consortium said that heavy rains and floods struck the province of Malaga on Oct. 20 and Oct. 21, causing around €32 million ($37 million) worth of damage, The Olive Press reported. The country’s government is expected to declare the region a disaster zone. Heavy rains also caused an additional €16 million worth of damage to the west of Malaga recently.
10/23/2018 5:46:00 AM
Source: Business Insurance
Trinidad and Tobago has asked for insurance payout from Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. following heavy rains and floods across the island, Trinidad Express reported. The country’s Ministry of Finance paid additional premiums to buy cover for excessive rainfall. The catastrophe insurance policy covers infrastructural damage, cost of clean-up and rescue operations and funding for disaster relief.
10/23/2018 5:47:00 AM
Source: Business Insurance
The U.K.’s High Court ruled that an insurer cannot rely on a sanctions-related exclusion clause to avoid settling a marine insurance policy claim following impending reinstatement of U.S. secondary sanctions against Iran, Out-Law.com reported. Under the policy, U.K.-based Mamancochet Mining Ltd. will receive compensation for theft of two cargo loads of steel billets transported from Russia to Iran in August 2012. The goods worth nearly $4 billion were stolen from a storage facility in Iran and the claim was submitted in March 2013. The court said that the claim’s payment before Nov. 4 will not expose the insurers to a sanction.
Facebook
Linked In
Instagram
Twitter
Contact Us
News
Calendar
Calculators