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Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
British Energy was the UK's largest electricity generation company by volume, before being taken over by Électricité de France (EDF) in 2009. British Energy operated eight former UK state-owned nuclear power stations and one coal-fired power station.
Chubb Limited is an American company incorporated in Zürich, Switzerland. It is the parent company of Chubb, a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and the largest publicly traded property and casualty company in the world. Chubb operates in 55 countries and territories and in the Lloyd's insurance market in London. Clients of Chubb consist of multinational corporations and local businesses, individuals, and insurers seeking reinsurance coverage. Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance.
Liberty Mutual Group is an American diversified global insurer and the sixth-largest property and casualty insurer in the United States. It ranks 71st on the Fortune 100 list of largest corporations in the United States based on 2020 revenue. Based in Boston, Massachusetts, and featuring the Statue of Liberty on its logo, it employs over 45,000 people in more than 900 locations throughout the world. As of December 31, 2021, Liberty Mutual Insurance had $156.043 billion in consolidated assets, $128.195 billion in consolidated liabilities and $48.2 billion in annual consolidated revenue.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906.
Markel Corporation is a holding company for insurance, reinsurance, and investment operations around the world. Headquartered in Richmond, Virginia and founded in 1930, Markel reports its ongoing underwriting operations in three segments, and products originate from three insurance divisions and one reinsurance division. Through Markel Ventures, they allocate capital to invest in opportunities outside of insurance.
The Price-Anderson Nuclear Industries Indemnity Act is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026. The main purpose of the Act is to partially compensate the nuclear industry against liability claims arising from nuclear incidents while still ensuring compensation coverage for the general public. The Act establishes a no fault insurance-type system in which the first approximately $15 billion is industry-funded as described in the Act. Any claims above the $12.6 billion would be covered by a Congressional mandate to retroactively increase nuclear utility liability or would be covered by the federal government. At the time of the Act's passing, it was considered necessary as an incentive for the private production of nuclear power — this was because electric utilities viewed the available liability coverage as inadequate.
A car rental, hire car or car hire agency is a company that rents automobiles for short periods of time to the public, generally ranging from a few hours to a few weeks. It is often organized with numerous local branches, and primarily located near airports or busy city areas and often complemented by a website allowing online reservations.
The Korea Deposit Insurance Corporation (KDIC) is a deposit insurance corporation, established in 1996 in South Korea to protect depositors and maintain the stability of the financial system. The main functions of KDIC are insurance management, risk surveillance, resolution, recovery, and investigation.
MedPro Group, formerly known as Medical Protective, is a Berkshire Hathaway company and the largest and highest rated provider of healthcare liability insurance in the United States - with an A++ rating from AM Best. MedPro provides customized malpractice insurance, claims, and risk solutions to physicians, surgeons, dentists and other healthcare professionals, as well as hospitals, senior care and other healthcare facilities. Additionally, MedPro provides insurance solutions to international markets, delivers liability insurance to other professionals, and specialized accident and health insurance solutions to colleges and other businesses through its subsidiaries and other Berkshire Hathaway affiliates. MedPro is based in Fort Wayne, Indiana. MedPro’s insurance policies are distributed primarily through a nationwide network of appointed agents and brokers and supplemented by the selective use of managing general underwriters, as well as wholesale and direct channels.
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice-, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
Neil is a masculine given name of Gaelic origin.
Catlin Group Limited was a Bermuda-based specialty insurance and reinsurance company. Catlin operated six underwriting hubs worldwide and operated more than 55 offices worldwide. It owned the largest syndicate at Lloyd's of London, based on 2011 gross written premiums. Catlin shares were listed on the London Stock Exchange until it was acquired by XL Group plc in May 2015.
CUNA Mutual Group is a mutual insurance company that provides financial services to cooperatives, credit unions, their members, and other customers worldwide. CUNA Mutual Group sells commercial and consumer insurance and protection products. CUNA Mutual Group provides retirement plan services to small businesses and credit union employees. The Madison, Wisconsin-based company also provides auto, home, life and loan protection products to credit union members through its TruStage brand.
General Insurance Corporation of India Limited abbreviated as GIC Re is a central public sector undertaking under the ownership of Ministry of Finance, Government of India. It was incorporated on 22 November 1972 under Companies Act, 1956. GIC Re has its registered office and headquarters in Mumbai. It was the sole nationalised reinsurance company in the Indian insurance market until the insurance market was open to foreign reinsurance players by late 2016 including companies from Germany, Switzerland and France. GIC Re's shares are listed on BSE Limited and National Stock Exchange of India Ltd.
Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself. The main purpose of doing so is to avoid using traditional commercial insurance companies, which have volatile pricing and may not meet the specific needs of the company. By creating their own insurance company, the parent company can reduce their costs, insure difficult risks, have direct access to reinsurance markets, and increase cash flow. When a company creates a captive they are indirectly able to evaluate the risks of subsidiaries, write policies, set premiums and ultimately either return unused funds in the form of profits, or invest them for future claim payouts. Captive insurance companies sometimes insure the risks of the group's customers. This is an alternative form of risk management that is becoming a more practical and popular means through which companies can protect themselves financially while having more control over how they are insured.
The Civil Liability for Nuclear Damage Act, 2010 or Nuclear Liability Act is a highly debated and controversial Act which was passed by both houses of Indian parliament. The Act aims to provide a civil liability for nuclear damage and prompt compensation to the victims of a nuclear incident through a nofault liability to the operator, appointment of Claims Commissioner, establishment of Nuclear Damage Claims Commission and for matters connected therewith or incidental thereto.
Marshall Diel & Myers Ltd. is a litigation-focused law firm based in Hamilton, Bermuda.
Oil Insurance Limited (OIL) is a Bermuda–based mutual insurance company. It was founded in 1972 by 16 oil companies.
Ironshore Inc. provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its platforms in Australia, Bermuda, Canada, Ireland, Singapore, the United States and the United Kingdom. On December 5, 2016, it was announced that Ironshore will be sold to Liberty Mutual in a $3 billion transaction.
References
- 1 2 "NEIL History". Nuclear Electric Insurance Limited. Retrieved December 30, 2012.
- ↑ Penn, Ivan (December 30, 2012). "Utilities nationwide could share the financial pain of the idled Crystal River nuclear plant". Tampa Bay Times . Retrieved December 30, 2012.