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Russian Hackers Claim Cyberattack on Spanish Defense Company

Insurance Journal

Santa Barbara Systems, a General Dynamics subsidiary in Spain that is refurbishing Leopard tanks for delivery to Ukraine, suffered a cyberattack on its website, a pro-Russia hacker group said. A spokesperson for General Dynamics confirmed that the de...

Posted: Jun 07, 2024

AXA XL appoints Noel Pearman as new CUO, Bermuda

Reinsurance News

As part of the recently announced insurance underwriting operations reorganization in the Americas, which aligned its three business segments under Large Commercial, Mid-Market and Professional, AXA XL, the property & casualty (P&C) and sp...

Posted: Jun 07, 2024

5th Circuit: Louisiana Law Voids Arbitration Clause in Surplus Lines Policies

Insurance Journal

A panel of the 5th Circuit Court of Appeals ruled this week that a Louisiana statute voids the formation of an arbitration clause in a surplus lines insurance contract. In its opinion, the appellate court reasoned that the general principles …

Posted: Jun 07, 2024

Liability Reinsurance Crisis Could Be Looming, CEO Says

Carrier Management

Liability Reinsurance Crisis Could Be Looming,...

Posted: Jun 07, 2024

Gallagher Re promotes April Engelman to COO of North American region

Reinsurance News

Global reinsurance broker Gallagher Re has appointed April Engelman as its Chief Operating Officer (COO) for the North American region, effective immediately. She replaces Mark Hansen, who was recently promoted to Gallagher Re’s Chief Operat...

Posted: Jun 07, 2024

Insurers to Build Private Credit Exposure in Coming Years: Moody’s

Insurance Journal

Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to a new report by Moody’s Ratings. In a survey this week of the world’s largest insurers, Moody’s found that near...

Posted: Jun 07, 2024

VIG establishes EU-funded cyber security programme to combat rising threats

Reinsurance News

Vienna Insurance Group (VIG) has launched a comprehensive Cyber Defence Center programme (CDC) to enhance protection against the growing threat of cyberattacks. This initiative receives financial support from the European Union through the Europea...

Posted: Jun 07, 2024

UK Court Decides Aircraft Disputes to Be Heard in Ukraine, Not London

Insurance Journal

A legal battle between insurers and aircraft leasing companies over jets stuck in Ukraine should be heard in Ukraine rather than London, the High Court in London ruled on Thursday. Aircraft lessors, including Ireland’s AerCap, are pursuing insu...

Posted: Jun 07, 2024

Howden selects AutoRek to boost digital transformation across key back-office processes

Reinsurance News

Howden, the global insurance intermediary group, has selected software provider AutoRek to boost the efficiency of key back-office processes through intelligent automation. According to the announcement, this new partnership is anticipated to help...

Posted: Jun 07, 2024

CNA joins Euclid Transactional’s North American program

Reinsurance News

Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has announced that CNA has joined its North American transactional insurance program. CNA has been part of Euclid Transa...

Posted: Jun 07, 2024

Report Shows Increase in Total EV Loss Claims

Insurance Journal

A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report shows EV total loss frequency h...

Posted: Jun 07, 2024

Continuity latest funding round to boost development and enhance innovation capabilities

Reinsurance News

Continuity, a “pioneer” in leveraging artificial intelligence and external data for professional and commercial P&C insurers, has raised €10 million Series A funding round to boost enterprise insurance with artificial intelligence-driven risk...

Posted: Jun 07, 2024

World Meteorological Organization: 80% Chance Annual Average Global Temps Exceed 1.5°C

Insurance Journal

A new study on adoption of behaviors that reduce personal carbon emissions in 37 countries and territories classified as “high-emissions” shows that daily household behaviors are far more common than higher-cost, infrequent behaviors. Low...

Posted: Jun 07, 2024

World Meteorological Organization: Good Chance for More Record-Setting Global Temps

Insurance Journal

A new study on adoption of behaviors that reduce personal carbon emissions in 37 countries and territories classified as “high-emissions” shows that daily household behaviors are far more common than higher-cost, infrequent behaviors. Low...

Posted: Jun 07, 2024

Student Pilot’s Solo Cross-Country Flight Crashed In Connecticut Campground

Insurance Journal

PLYMOUTH, Conn. (AP) — A student pilot was attempting a solo cross-country flight before crashing into a Connecticut campground, according to a federal aviation report released Tuesday. The 1968, fixed-wing, single-engine Cessna 172 aircraft had &#82...

Posted: Jun 07, 2024

Environmental Groups Looking to Sue Colorado Refinery for 1K-plus Pollution Violations

Insurance Journal

Environmental groups took the first step to sue the owner of an oil refinery near Denver for years of pollution violations, saying that state regulators haven’t done enough to hold the owner accountable. The refinery owned by Suncor Energy sits...

Posted: Jun 07, 2024

Environmentalists Want to Sue Colorado Refinery for a Thousand Pollution Violations

Insurance Journal

Environmental groups took the first step to sue the owner of an oil refinery near Denver for years of pollution violations, saying that state regulators haven’t done enough to hold the owner accountable. The refinery owned by Suncor Energy sits...

Posted: Jun 07, 2024

Ex-Prosecutor Settles Defamation Suit Against Netflix Over Central Park Five Series

Insurance Journal

Former Manhattan prosecutor Linda Fairstein and Netflix announced Tuesday they’ve settled the defamation lawsuit she filed four years ago over her portrayal in the streaming service’s miniseries about the five Black and Latino teenagers k...

Posted: Jun 07, 2024

Paul Jones takes charge of Lockton UK’s specialised Parametrics Practice

Reinsurance News

Insurance brokerage Lockton has appointed Paul Jones as the leader of Parametric Solutions for the UK & Europe in its Property & Casualty (P&C) Specialties division. Jones commented: “I am thrilled to be joining Lockton to develop its...

Posted: Jun 07, 2024

California City Awarded Grant to study Insurance Protections from Sea Level Rise

Insurance Journal

A California city has been awarded a grant to study insurance protections from sea level rise. The City of Imperial Beach received an $848,000 grant to develop flooding adaptation strategies to help prepare residents for coastal flooding expected to...

Posted: Jun 07, 2024

California City Awarded Grant to Study Insurance Protections from Sea Level Rise

Insurance Journal

A California city has been awarded a grant to study insurance protections from sea level rise. The City of Imperial Beach received an $848,000 grant to develop flooding adaptation strategies to help prepare residents for coastal flooding expected to...

Posted: Jun 07, 2024

Maryland Governor Requires All State Agencies to Submit Climate Change Plans

Insurance Journal

State agencies in Maryland will be required to submit a plan to help address climate change and reduce greenhouse gas emissions, under an executive order signed by Gov. Wes Moore on Tuesday. The plan calls for all state agencies to …

Posted: Jun 07, 2024

Emerald Bay and Arrowhead Launch Commercial Earthquake Facility in California, Pacific Northwest

Insurance Journal

Emerald Bay Risk Solutions and Arrowhead General Insurance Agency Inc. have launched a commercial earthquake facility that provides difference in conditions insurance policies for medium to large businesses. Arrowhead EQ DIC will primarily target bus...

Posted: Jun 07, 2024

New York Readies Bill Giving Parents Some Control Over Kids’ Social Media Feeds

Insurance Journal

New York lawmakers on Tuesday said they were finalizing legislation that would allow parents to block their children from getting social media posts curated by a platform’s algorithm, a move to rein in feeds that critics argue keep young users...

Posted: Jun 07, 2024

Tornadoes Touch Down Across US, Killing toddler in Michigan and Injuring 5 in Maryland

Insurance Journal

LIVONIA, Mich. (AP) — A tornado killed a 2-year-old boy and injured his mother Wednesday when a tree fell on their house in suburban Detroit, while emergency workers in Maryland were responding to reports of collapsed structures with people trapped &...

Posted: Jun 06, 2024

Tornadoes Touch Down Across US, Killing Toddler in Michigan and Injuring 5 in Maryland

Insurance Journal

LIVONIA, Mich. (AP) — A tornado killed a 2-year-old boy and injured his mother Wednesday when a tree fell on their house in suburban Detroit, while emergency workers in Maryland were responding to reports of collapsed structures with people trapped &...

Posted: Jun 06, 2024

Lee Yuan Siong Named Chairman of The Geneva Association

IIR

Lee, who is Group Chief Eecutive and President of AIA, succeeds outgoing Chairman Christian Mumenthaler, CEO of Swiss Re.

Posted: Jun 06, 2024

Chubb to offer new renters insurance

coverager

Chubb is introducing a new insurance program called Blink Renters Protection.

Posted: Jun 06, 2024

Continuity raises €10 million

coverager

The startup will use the funding to continue to develop its technology.

Posted: Jun 06, 2024

The Latest Launches from Liberty Mutual, Corvus

Carrier Management

The Latest Launches from Liberty Mutual, Corvus Liberty Mutual launched an or...

Posted: Jun 06, 2024

Invest in Automation Today, for AI Tomorrow

Insurance Thought Leadership

Invest in Automation Today, for AI Tomorrow sradomski Thu, 06/06/2024 - 15:23 ...

Posted: Jun 06, 2024

New Report Shows Increase in Child Deaths Due to Drowning

Carrier Management

New Report Shows Increase in Child Deaths Due to Drowning Safety agency calls for increased...

Posted: Jun 06, 2024