Insurance Journal
Patchy progress on implementing reforms to make money market funds and other types of “non banks” safer has left the global financial system vulnerable to more shocks, the G20’s risk watchdog said on Monday. The Financial Stability...
Posted: Jul 22, 2024
A tanker that was involved in a collision near Singapore last week entered the area of Malaysia’s Bertam floating oil terminal on Monday morning after it was intercepted by local authorities on Sunday, shipping data from LSEG and Kpler showed....
Posted: Jul 22, 2024
A global tech outage that was related to a software update by cybersecurity firm CrowdStrike affected nearly 8.5 million Microsoft devices, Microsoft said in a blog post on Saturday. “We currently estimate that CrowdStrike’s update affect...
Posted: Jul 22, 2024
Stellantis on Thursday recalled about 24,000 ChryslerPacifica plug-in hybrid minivans worldwide because of fire risks, and urged owners to park outside, away from structures. and not to recharge the vehicles pending a software update. Stellantis said...
Posted: Jul 22, 2024
Two Russian nationals pleaded guilty to their roles in ransomware attacks in the US, Asia, Europe and Africa for a notorious hacking gang known as LockBit. Ruslan Astamirov and Mikhail Vasiliev admitted they helped to deploy the ransomware variant, w...
Posted: Jul 22, 2024
\A former U.S. Postal Service employee in Delaware who defrauded taxpayers of almost $100,000 in workers’ compensation benefits has been sentenced to probation. Lakisha Hines was sentenced Thursday after pleading guilty in March to one count of...
Posted: Jul 22, 2024
Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to hav...
Posted: Jul 22, 2024
Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Flo...
Posted: Jul 22, 2024
A 2% surcharge on property insurance policies, mandatory fees on the oil and gas industries, and holding a public referendum are ways a public-private group formed in the aftermath of Superstorm Sandy recommends to pay for projects to protect New ...
Posted: Jul 22, 2024
Risk Strategies named Troy Bagwell commercial lines leader for the West region. Bagwell, who is based in Los Angeles, is responsible for building and executing the regional strategy for the commercial property/casualty business segment. Bagwell joins...
Posted: Jul 22, 2024
Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the...
Posted: Jul 19, 2024
Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the...
Posted: Jul 19, 2024
In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrik...
Posted: Jul 19, 2024
Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry ̷...
Posted: Jul 19, 2024
Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …
Posted: Jul 19, 2024
It’s become a familiar cycle: A powerful storm sweeps through a swath of Texas and takes the electric system down in its grip. Trees might bend and topple, crashing down onto a power pole. Sometimes the weight of ice pulls …
Posted: Jul 19, 2024
A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage. Iran-aligned Houthis launched ballistic missiles and drones towards the ...
Posted: Jul 19, 2024
Insurance broker TWFG’s shares gained nearly 30% in their Nasdaq debut on Thursday, signaling strong investor demand for new stocks as the U.S. initial public offering market aims for a recovery. IPOs in the U.S. are attempting to stage a ̷...
Posted: Jul 19, 2024
The EPA’s Inspector General is investigating why the agency didn’t get its specialized plane loaded with advanced sensors into the air over East Palestine until four days after the disastrous Norfolk Southern derailment last year. The Ass...
Posted: Jul 19, 2024
While one of the nation’s largest manufacturers of commercial flooring and surfaces — including recycled rubber products used throughout the nation in playgrounds, fitness centers and sports fields — touts its products’ safety and environ...
Posted: Jul 19, 2024
A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported:...
Posted: Jul 19, 2024
The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion. The New York-based insurer posted …
Posted: Jul 19, 2024
Independent agents play a critical role in helping clients find the right home insurance policies for them. They are also instrumental in sharing information about general safety considerations for homeowners, which is especially essential during the...
Posted: Jul 19, 2024
Longtime West Virginia insurance agent Charles Ludewig has decided to retire, paving the way for his agency to join the Leavitt Group, one of the largest privately held brokerages in the country. “I’m looking forward to this next chapter...
Posted: Jul 19, 2024
The spread of bird flu among poultry and dairy farms has heightened some health experts’ concerns that the process of killing and disposing of poultry infected with the virus may pose a risk to humans and livestock. Recent instances of …
Posted: Jul 19, 2024