Insurance Journal

Chicago Children’s Hospital Forced to Take Networks Offline After Cyberattack

CHICAGO (AP) — A Chicago children’s hospital has been forced to take its networks offline after an unspecified cyberattack, limiting access to medical records and hampering communication by phone or email since the middle of last week. The situ...

Posted: Feb 08, 2024

People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting

Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and Virginia, effective Feb. 12. Welch...

Posted: Feb 08, 2024

People Moves: Gonzales joins Marsh as Houston Energy Hub and Office Leader

Marsh, a business of Marsh McLennan headquartered in New York, announced today that Susan Gonzales has joined the firm as its Houston energy hub and office leader. In this dual role, Gonzales will lead a team of more than 70 …

Posted: Feb 08, 2024

Muddy Waters Shorts Canada Insurer Fairfax Financial, Alleging Asset Value Manipulation

Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial alleging manipulation in its asset values, sending the shares of the property and casualty insurer down 7%. Fairfax has struggled since 2017 when they...

Posted: Feb 08, 2024

Supreme Court in UBS Case Makes it Easier for Whistleblowers to Win Suits

The U.S. Supreme Court on Thursday made it easier for financial sector whistleblowers to win lawsuits accusing companies of unlawfully firing them as retaliation for disclosing wrongdoing, rejecting a bid by Switzerland’s UBS Group to impose a...

Posted: Feb 08, 2024

NC Postal Worker Pleads Guilty to Comp Fraud After Photos Show Him Ziplining

A 73-year-old postal worker pleaded guilty this week to more than $100,000 in workers’ compensation fraud after social media postings showed him engaged in rigorous physical activity, including ziplining at Niagara Falls. Johnnie Franklin Sulli...

Posted: Feb 08, 2024

Markets/Coverages: Corvus Expands Tech E&O; K2 OCONUS Workers Comp for Government Contractors; Xceed...

Corvus Insurance introduced a newly expanded Tech E&O product with an enhanced appetite backed by Travelers. Smart Tech E+O from Corvus provides creative risk solutions for technology businesses across the spectrum of size and complexity, includi...

Posted: Feb 08, 2024

People Moves: WIND Network Names New Officers, Board Members

The Windstorm Insurance Network, known as WIND, a continuing education organization for adjusters, appraisers and other claims professionals, has installed new officers and board members after its annual conference in Orlando. Wayne Taylor, a plainti...

Posted: Feb 08, 2024

Construction Worker Killed When Foundation Collapses in House Being Waterproofed

The partial collapse of a house foundation was the apparent cause of the death of a 51-year old construction worker in Hanson, Massachusetts on Wednesday morning. The worker, Gerceir Osvaldo DeFaria, was pronounced dead on the scene, according to Ply...

Posted: Feb 08, 2024

Construction Worker Killed When Foundation of House Being Waterproofed Collapses

The partial collapse of a house foundation was the apparent cause of the death of a 51-year old construction worker in Hanson, Massachusetts on Wednesday morning. The worker, Gerceir Osvaldo DeFaria, was pronounced dead on the scene, according to Ply...

Posted: Feb 08, 2024

Construction Worker Killed When Foundation Collapses of House Being Waterproofed

The partial collapse of a house foundation was the apparent cause of the death of a 51-year old construction worker in Hanson, Massachusetts on Wednesday morning. The worker, Gerceir Osvaldo DeFaria, was pronounced dead on the scene, according to Ply...

Posted: Feb 08, 2024

Two Years After Deadly Tornadoes, Some Kentucky Families Still Waiting for Housing

MAYFIELD, Ky. (AP) — Ashley Prince and her family have been chasing “normal” for years now. Two years ago, the tornado that whipped through Mayfield peeled the roof off their rental property “like a band-aid.” She and her fian...

Posted: Feb 08, 2024

Mother of Teen Killed at Miss. Poultry Factory Sues Company for Negligence

(AP) — The mother of a 16-year-old who died in a workplace accident at a Mississippi poultry factory is suing the companies that hired and employed him, accusing them of failing to follow safety standards that could have prevented his …

Posted: Feb 08, 2024

Mother of Teen Killed at Mississippi Poultry Factory Sues Company for Negligence

(AP) — The mother of a 16-year-old who died in a workplace accident at a Mississippi poultry factory is suing the companies that hired and employed him, accusing them of failing to follow safety standards that could have prevented his …

Posted: Feb 08, 2024

January Was World’s Hottest on Record: EU Scientists

The world just experienced its hottest January on record, continuing a run of exceptional heat fueled by climate change, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. Last month surpassed the previous warmest Ja...

Posted: Feb 08, 2024

Chinese Hacking Campaign Aimed at Critical Infrastructure Goes Back 5 Years

An advanced group of Chinese hackers taking aim at U.S. critical infrastructure have been active for as long as half a decade, American and allied intelligence agencies said in a joint statement on Wednesday. The U.S. National Security Agency, U.S. &...

Posted: Feb 08, 2024

AXA’s CEO Buberl Wants to ‘Scale Up’ Corporate Business

AXA SA’s Chief Executive Officer Thomas Buberl says he intends to “scale up” the firm’s business insuring corporate risks in the next phase of the firm’s growth. “In a highly volatile and highly unpredictable envir...

Posted: Feb 08, 2024

Assurance IQ Chooses AgentSync to Provide Excellent Agent Experience

Frictionless Agent Management Poised to Streamline Assurance IQ’s Agent Onboarding DENVER, Feb. 8, 2024 –– Assurance IQ and AgentSync have announced they will collaborate to transform the onboarding and management processes for hundreds of agen...

Posted: Feb 08, 2024

Money Managers Try to Put a Price on Climate Risk. It’s Not Easy.

When investors contemplate risk, it’s straightforward to think about measurable economic shifts like rising interest rates, inflation and sales trends. The data are readily available and simple enough to incorporate into financial models. The l...

Posted: Feb 08, 2024

US, UK Ship Investors Hit by Soaring Red Sea Insurance: Sources

War underwriters have raised the premiums they charge to US, British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …

Posted: Feb 08, 2024

Company Auditors Face More Rigorous Role in Spotting Fraud: Global Body

Accountants must play a role in spotting fraud when they check the books of companies, a global standard setting body for corporate auditing said in robust proposals Feb 6. The International Auditing and Assurance Standards Board (IAASB), which write...

Posted: Feb 08, 2024

US Court Cancels Approvals for Widely Used Dicamba Weedkillers

A U.S. court has nullified the government’s latest approvals of certain agricultural weedkillers sold by Bayer, BASF and Syngenta, fueling uncertainty among farmers who spray the products on genetically engineered soybeans and cotton. Environme...

Posted: Feb 08, 2024

NBA Sued Over Deal With Failed Crypto Exchange Voyager

The National Basketball Association was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings Inc., which investors claim led to $4.2 billion in losses. The NBA was “grossly negligent” in agreeing...

Posted: Feb 08, 2024

Fired ‘Mandalorian’ Actor Sues Disney With Funding From Elon Musk

Actor Gina Carano sued Walt Disney for wrongful termination from Star Wars series “The Mandalorian” in a lawsuit filed Feb 6 and backed by billionaire Elon Musk. Carano argued in the suit that she was fired in 2021 for voicing …

Posted: Feb 08, 2024

German Court Rules Against Intel in Patent Row Over Chips

A court in Germany has issued an injunction against the sale of some of Intel’s chips, in a patent dispute between the U.S. tech giant and a U.S. rival that filed the complaint. The regional court in Dusseldorf ruled in …

Posted: Feb 08, 2024