Insurance Journal
Widely disruptive, large-scale hacks are surging. After a lull in 2022, ransomware attacks on high-value targets such as big companies, banks, hospitals or government agencies, have seen a “massive uptick” this year, rising 51% through la...
Posted: Dec 18, 2023
From a broad view, data from the cannabis industry fails to paint an informative picture of what lies ahead for the business in 2024 or what the year holds for insurance professionals specializing in servicing the sector. Despite a prevailing …
Posted: Dec 15, 2023
S&P Global Ratings has revised its financial strength rating for Lloyd’s of London to “AA–”, outlook stable, from “A+”, outlook stable. The rating upgrade reflects the improvement in Lloyd’s balance sheet stren...
Posted: Dec 15, 2023
Tesla Inc.’s biggest vehicle recall ever threatens to hurt the company’s defense in several high-profile lawsuits it faces over crashes linked to Autopilot. The automaker’s recall of 2 million cars comes after a top US auto-safety r...
Posted: Dec 15, 2023
Texas Workers’ Compensation Commissioner Jeff Nelson has announced the appointment of Matthew Posey as DWC’s new Deputy Commissioner of Operations and External Relations. Posey brings his significant legislative relations experience to th...
Posted: Dec 15, 2023
Elevate Risk Solutions announced that CEO Jerry Messick is stepping down effective January 1, 2024, and will continue to serve the firm as a consultant. With the transition, Elevate’s Managing Director Ryan Ralston will be appointed President,...
Posted: Dec 15, 2023
European Union countries and lawmakers last week agreed a provisional deal for artificial intelligence rules aimed at establishing guardrails for the rapid development of AI and setting a global standard in technology regulation. The long road to the...
Posted: Dec 15, 2023
The UK is at high risk of a “catastrophic” ransomware attack that could bring critical national infrastructure to a standstill and cost the country tens of billions of pounds, according to a parliamentary report. Departments responsible f...
Posted: Dec 15, 2023
The West Virginia Insurance Commissioner’s Office is accepting comments on a proposed 19.9% auto liability insurance rate increase for Farmers Direct Property and Casualty Insurance Co. The proposed increase is one of the latest in auto insuran...
Posted: Dec 15, 2023
Federal workplace safety inspectors found a Palatine, Illinois contractor did not provide roofing employees with required fall protection, exposing them to the risk of falls from elevation, the construction industry’s leading cause of workplace...
Posted: Dec 15, 2023
Relation Insurance Services acquired the assets of Kane Insurance Agency. The transaction went into effect on December 1, 2023 and terms of the transaction were not disclosed. Serving Illinois individuals and businesses for more than 60 years, Kane i...
Posted: Dec 15, 2023
CHICAGO (AP) – The family of a Chicago woman who froze to death after she became locked in a hotel freezer has agreed to a $10 million legal settlement. Kenneka Jenkins` mother, Tereasa Martin, will receive about $3.7 million, according …
Posted: Dec 15, 2023
U.S. auto safety regulators say they have taken the first step toward requiring devices in vehicles that prevent drunk or impaired driving. The National Highway Traffic Safety Administration announced on Tuesday that it is starting the process to put...
Posted: Dec 15, 2023
California-based Alliant Insurance Services, an insurance distributor with offices across the country, has expanded its staff in the Southeast. The firm said it had named Logan Jonston as vice president in its Alliant Americas division and will be ba...
Posted: Dec 15, 2023
Think cyber events don’t have long tail? Consider this: Home Depot is still in a legal battle to get $50 million in coverage from two insurers nearly a decade after hackers used point-of-sale machines to hack the retailer. In a …
Posted: Dec 15, 2023
Authorities brought in outside experts to find the source of carbon monoxide believed to have killed one student and sickened two others at a college in Washington. The experts, from a forensic engineering firm that specializes in carbon monoxide inv...
Posted: Dec 15, 2023
Stamford, Connecticut-based Webster Bank has agreed to acquire Ametros Financial Corp., a Wilmington, Massachusetts-based custodian and administrator of medical funds from insurance claim settlements. The bank is acquiring the firm from funds managed...
Posted: Dec 15, 2023
Oakbridge Insurance Agency has continued its expansion plans with the acquisition of M D Iverson Group, an Atlanta-area agency and brokerage that focuses on commercial products and high-net-worth individuals. M D Iverson will continue to operate its...
Posted: Dec 15, 2023
GILBERT, S.C. (AP) — South Carolina’s top education official plans to ask lawmakers for $5 million to put a digital map of every school in the state online and make those maps immediately available on police officers’ mobile devices...
Posted: Dec 15, 2023
As firms across the City of London consider clamping down on working from home, Schroders Plc is sticking to its policy of letting workers decide how much time they spend in the office. “Flexible working provides a strong link to …
Posted: Dec 15, 2023
The New Hampshire Insurance Department and New England College have announced they will partner for the second year of a course aimed at teaching students about insurance and providing staffing for the industry. Scheduled to commence in the Spring 20...
Posted: Dec 15, 2023
Maersk Tankers is to insist its fleet of fuel carriers have the option to avoid the Red Sea following an escalation in attacks on merchant ships in the area. The decision, set out in a notice seen by Bloomberg, doesn’t …
Posted: Dec 15, 2023
Rapid adoption of artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top...
Posted: Dec 15, 2023
Newswise — With a severe shortage of affordable housing in the United States, renters living along the East and Gulf coasts are uniquely vulnerable to hurricane disasters. Two new studies based on data from 2009 to 2018 show that renters …
Posted: Dec 15, 2023
A report out this week from the National Oceanic and Atmospheric Administration shows the Arctic summer surface air temperatures were the warmest on record, with some areas, including northern Alaska and Canada, 7.2 degrees Fahrenheit or more above t...
Posted: Dec 15, 2023