International News

Global Cat Report Finds 2014 Insured Losses Lowest in 5 Years

In 2014, significant insured losses totaled approximately $33 billion, a dramatic drop compared to the historic insured losses seen in 2011, which totaled approximately $126 billion. Guy Carpenter & Company, a global risk and reinsurance specialist and a wholly owned …

Canada Oil Trains Required to Carry More Insurance

Canada will increase the insurance railways must carry when they haul crude oil and impose a levy on shippers to help cover the cost of major accidents in the burgeoning oil-by-rail industry, Transport Minister Lisa Raitt said on Friday. Raitt …

Canada to Create Special Fund to Pay for Crude Rail Spills

The Canadian government will create a special fund to pay for damages and cleanup in rail disasters, supported by levies on shipping crude oil, a person with direct knowledge of the plan said. Last week Transport Minister Lisa Raitt discussed …

Hackers Stole Nearly $1B From Banks Across the Globe

A hacking ring has stolen up to $1 billion from banks around the world in what would be one of the biggest banking breaches known, a cybersecurity firm says in a report scheduled to be delivered Monday. The hackers have …

Costa Concordia Captain Sentenced to 16 Years for Shipwreck

Costa Concordia Captain Francesco Schettino was convicted by an Italian court three years after the cruise ship capsized near the Tuscan coast, killing 32 people. Schettino, who can appeal the verdict, was sentenced to 16 years in prison for criminal …

Concordia Captain’s Defense Team Defends Slow Evacuation Order

Lawyers for the captain of the shipwrecked Costa Concordia are defending his delayed evacuation order, saying in closing arguments that the ship was still the safest place for passengers and that he gave the order once it became clear the …

Mexico Raises Death Toll From Hospital Gas Explosion

A nurse who was trying to help newborns to safety as a dangerous gas cloud formed at a Mexico City hospital has died of injuries she suffered when it ignited in a massive fireball, authorities said Wednesday. Monica Orta Ramirez, …

8 on Trial in France for Heists of Over $100M in Jewels

Eight men charged with one of the world’s biggest jewel heists went on trial Tuesday in Paris, accused of stealing more than 100 million euros ($113 million) worth of luxury watches, necklaces, earrings and other valuables from a Harry Winston …

Honda Lowers Earning Forecasts as Recalls Push Profit Down

Honda Motor Co., the Japanese automaker at the center of an airbag defect scandal, lowered its annual earnings forecast Friday, after quarterly profit slipped 15 percent due to recall expenses. The Tokyo-based manufacturer of the Odyssey minivan, Fit subcompact and …

Officials Meet at Global Safety Conference to Discuss Aviation Calamities

Government and aviation industry officials from dozens of countries are meeting in Montreal this week to try to find consensus on how to keep from losing airliners like the one that vanished without a trace in Asia and another shot …

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