Did Serco’s Con Air Arsonists Trigger A Climate-Change Mandarin Cat-Bond Fraud?

“Police clear Serco of fraud in £285m prisoner transfer contract
by Alex Ralph
December 19 2014, 9:42am, The Times
“The embattled outsourcing company Serco has been given a much-needed boost after police dropped a fraud investigation over a £285 million prisoner-transfer contract. City of London police [No jurisdiction over allegedly-ongoing Con Air frauds!] has found no evidence to support bringing charges against the FTSE 250 company or its staff over allegations that they misleadingly recorded prisoners as ready for court when they were not.”

“Firefighters search evacuated Mandarin Oriental hotel in central London
Published 2 Hours Ago Updated 47 Mins AgoThe Associated Press
More than 100 firefighters tackled a blaze at a luxury hotel in central London that produced thick black smoke visible for miles around and required people inside the building to evacuate Wednesday.

London Fire Brigade said it was called to the 12-story Mandarin Oriental Hotel just before 4 p.m. (1500 GMT.) Less than an hour later, 20 engines and 120 firefighters were at the scene, and much less smoke was billowing from the top of the hotel.

There were no immediate reports of injuries. Firefighters wearing breathing apparatus were searching the structure to see if anyone still was inside, the fire brigade said.

The cause of the fire was not yet known. One witness said laborers had been working earlier on the roof of the 116-year-old hotel, which recently underwent extensive renovations.

Writer Juno Dawson tweeted: “Well that was drama. The Mandarin Oriental is literally on fire. Evacuated mid photoshoot. Hope everyone is ok. It was the construction site on the roof that seemed to be on fire.”

Hotel employees evacuated to nearby Hyde Park and were given bottles of water as they waited for instructions.

Firefighters were “working extremely hard to bring the fire under control” and likely to be on the scene for several hours, Fire Brigade Station Manager Pam Oparaocha said.

The road in front of the hotel in London’s ritzy Knightsbridge neighborhood was closed, causing rush-hour traffic chaos in the area.

Parts of the busy Knightsbridge Underground station also were closed as a precaution.

Mandarin Oriental said that “as the situation is still unfolding, we have no further details to share at this time, but will provide an update soon.”

The ornate Edwardian building near Hyde Park opened as a hotel in 1902. It has 181 bedrooms and suites, and is located near Harrods, an iconic department store that itself was destroyed by fire in 1883 and rebuilt.”

“16th Conference on Catastrophe Insurance in Asia
7-8 Jun 2018, Mandarin Orchard Hotel, Singapore
Theme: “Finding Smart Insurance Solutions to Cope with Extreme Weather as the New Norm”

Extreme weather is frightfully frequent now as Man continues indifferent to climate warnings. The insurance industry is expected to manage the risks arising from such unconscionable behaviour. Last year, the industry suffered one of the highest Nat CAT insured losses of US$135 billion, the highest in almost 40 years. Economic loss was US$330 billion; 97% from extreme weather damage. As regions of the globe continue to heat up, hurricanes, typhoons, heatwaves, droughts and floods are expected to occur more frequently in the near future. The Asia Pacific region, home to two-thirds of the world’s poor, will suffer this impact, if efforts are not immediately implemented.

Can the insurance industry help? What sustainable smart solutions does it have for this coming crisis scenario? Are there enough models to make an accurate assessment? Is there adequate data for good models and efficient underwriting? Will Insurance-Linked Securities take over this space? Are current products flexible and adaptable to handle climate risk? Can there be greater product innovation to close the protection gap?

This year’s coming-of-age 16th Annual CAT Conference will address smart solutions for risk management, from pricing and accessibility, to loss prevention and risk mitigation. There is a need for a perfect private-public partnership to enable stakeholders to work toward the goal of mitigating global warming.

Experts in the fields of international climate change, modelling, geoscience, and government officials and insurance leaders will convene.

CAT underwriters, reinsurers, CAT modellers, brokers and all involved in this volatile CAT market today must not pass up this opportunity to share ideas and talk.”

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