Top Causes of Loss for Global Businesses: Allianz

The top causes of global corporate insurance losses as compiled by Allianz

This analysis encompasses over 470,000 claims from over 200 countries and territories.

Fire/Explosion: 24%

Aviation collision/crash: 14%

Faulty workmanship/maintenance: 8%

Storm: 7%

Defective products: 6%

Damaged goods (including handling/storage): 5%

Machinery breakdown (including engine failure): 5%

Water damage: 3%

Ship sinking/collision: 2%

Professional Indemnity (e.g. negligence/misadvice): 2%

U.S. and Britain to Sign Pact After Brexit to Bring Stability to Insurance Industry

Members of the U.S. Trade Representative’s Office and the U.S. Treasury Department made a statement on December 11, 2018 that they have intentions to sign a post-Brexit bilateral insurance agreement with Britain that will bring regulatory stability and continuity to the industry.

According to officials the Agreement will be consistent with a similar one signed with the EU back in 2017.

Unless Brexit is somehow reversed, Britain is scheduled to leave the EU on March 29, 2019.

The timing of the announcement is not a coincidence. The U.S. Congress requires a 90-day notification period before it can be signed and officially put into effect.

U.S. officials say the pending agreement will affirm the U.S. state-based system of insurance regulation and should help in the competitiveness of U.S. insurance and reinsurance firms.

Antony Philliopson, Britain’s Trade Commissioner for North America, welcomed the announcement and said it’s an example of the work the British government is doing to ensure business continuity with the U.S. and said they will continue studying and looking into further bilateral trade ties.

Notable firings and resignations from Trump’s White House

  • March 28: Veterans Affairs Secretary David Shulkin
  • March 22: National security adviser H.R. McMaster
  • March 13: Secretary of State Rex Tillerson
  • March 12: Special assistant and personal aide to the president John McEntee
  • March 6: Economic adviser Gary Cohn
  • Feb. 28: Communications director Hope Hicks
  • Feb. 27: Deputy communications director Josh Raffel
  • Feb. 7: Staff secretary Rob Porter
  • Dec. 13, 2017: Communications director for the White House Office of Public Liaison Omarosa Manigault Newman
  • Dec. 8, 2017: Deputy national security adviser Dina Powell
  • Sept. 29, 2017: Health and Human Services Secretary Tom Price
  • Aug. 25, 2017: National security aide Sebastian Gorka
  • Aug. 18, 2017: Chief strategist Steve Bannon
  • July 31, 2017: Communications director Anthony Scaramucci
  • July 28, 2017: Chief of staff Reince Priebus
  • July 21, 2017: Press secretary Sean Spicer
  • May 30, 2017: Communications director Michael Dubke
  • May 9, 2017: FBI Director James Comey
  • March 30, 2017: Deputy chief of staff Katie Walsh
  • Feb. 13, 2017: National security adviser Michael Flynn

He also demonstrated by far the greatest understanding of a complicated area of public policy. There, I said it.

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