Insurance Journal
Cybersecurity company Group-IB has finalized its exit from Russia, the group said on Thursday, cutting ties with its original market in an effort to spur its global expansion ambitions. Punitive Western sanctions against Moscow since it sent tens of...
Posted: Apr 20, 2023
BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed. WUFS wa...
Posted: Apr 20, 2023
British officials are sounding the alarm over the widespread abuse of surveillance software and hackers-for-hire, saying that thousands of people were being targeted each year by an industry they described as posing an increasingly unpredictable thre...
Posted: Apr 20, 2023
Shortly before Google introduced Bard, its AI chatbot, to the public in March, it asked employees to test the tool. One worker’s conclusion: Bard was “a pathological liar,” according to screenshots of the internal discussion. Anothe...
Posted: Apr 20, 2023
U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users all...
Posted: Apr 20, 2023
Sedgwick, the global benefits, risk management and claims management firm, has acquired Appraisal Service of Mississippi Inc., an auto and property valuation firm. The move further expands Sedgwick’s presence in auto and property claims, the co...
Posted: Apr 20, 2023
Oakbridge Insurance Agency has continued its growth plans with the acquisition of of Wilson Insurance in Waycross, Georgia. The move is the latest expansion for Atlanta-based Oakbridge, which said it is now one of the largest independent agencies in...
Posted: Apr 20, 2023
Cannabis tax revenue in Colorado fell nearly $100 million in 2022, while California, Oregon, Nevada, and Washington all saw sales decline as the industry began its first downturn. Conversely, sales were up big time in Michigan, Illinois and Massachus...
Posted: Apr 20, 2023
Global insurance broker Hub International Limited reported that it has acquired the assets of Brady Risk Management, Inc. of Huntington, New York. Brady Risk is a risk management, risk transfer and insurance firm that serves key industry segments, in...
Posted: Apr 20, 2023
A parking garage collapsed Tuesday in lower Manhattan’s Financial District, killing one worker, injuring five and crushing cars as concrete floors fell on top of each other like a stack of pancakes, officials said. Vehicles tumbled into what lo...
Posted: Apr 20, 2023
Crest Insurance Group, headquartered in Tucson, Arizona, hired Bob Howard as vice president, director of sales. Howard has a history with large insurance brokers and consulting firms involving complex construction and real estate projects, publicly t...
Posted: Apr 20, 2023
An insurance company offering home warranties must refund Californians who were reportedly deceived by a misleading mailer sent to hundreds of thousands of consumers. According to an investigation by the California Department of Insurance, Response I...
Posted: Apr 20, 2023
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it wa...
Posted: Apr 19, 2023
The Workers’ Compensation Insurance Rating Bureau of California’s Governing Committee voted on Wednesday to authorize the WCIRB to submit a Sept. 1, 2023 pure premium rate filing to the state’s Insurance Commissioner on average 0.3%...
Posted: Apr 19, 2023
The Texas Windstorm Insurance Association (TIWA) Board of Directors on Tuesday elected to forego additional reinsurance beyond the $2.24 billion it selected in January, bringing the insurer of last resort’s total funding for the 2023 storm seas...
Posted: Apr 19, 2023
FRANKLIN COUNTY — Volunteer firefighter Jim Emery grew emotional as he spoke to the crowd at an anti-solar development town hall meeting in his northeast Texas community. Emery, who worked for decades at the nearby coal power plant before it …
Posted: Apr 19, 2023
DETROIT (AP) – An Ohio doctor acquitted in the deaths of 14 patients who died after they were given painkillers has filed a lawsuit against a national Catholic health system that operates the hospital where he worked in the intensive …
Posted: Apr 19, 2023
MADISON, Wis. (AP) – The defrocked Roman Catholic cardinal who became the face of the church’s clergy sex abuse crisis has been charged in Wisconsin with sexually assaulting an 18-year-old man more than 45 years ago, court records show. A...
Posted: Apr 19, 2023
At-Bay said insurance industry rating agency AM Best has assigned At-Bay Specialty Insurance Company a financial strength rating of A- (Excellent). At-Bay Specialty Insurance Company is a Delaware-domiciled excess and surplus (E&S) lines property...
Posted: Apr 19, 2023
nap Inc. says it can’t be sued for allegedly addicting young users and contributing to a mental-health crisis because its “ephemeral” messaging service is “fundamentally different” from other platforms including TikTok a...
Posted: Apr 19, 2023
Gov. Ron DeSantis and Florida lawmakers ratcheted up pressure on Walt Disney World on Monday by announcing legislation that will use the regulatory powers of Florida government to exert unprecedented oversight on the park resort’s rides and mon...
Posted: Apr 19, 2023
First quarter net income at Travelers Cos. fell 4% to $975 million as catastrophes cost the insurer a total of about $535 million during the first three months of the year. Catastrophe losses, coupled with a $48 million first quarter …
Posted: Apr 19, 2023
New York Governor Kathy Hochul announced that the nonprofit InnSure will administer the state’s $6.5 million insurance innovation program that includes grants to encourage the development of new insurance policies and products that support new...
Posted: Apr 19, 2023
The European Commission on Tuesday announced a 1.1-billion-euro ($1.2 billion) plan to counter growing cybersecurity threats, underscoring mounting concerns about a series of high-profile hacking incidents. The growing use of cyber warfare in the mil...
Posted: Apr 19, 2023
Executive Summary: An uncertain economic landscape leading to a rise in claims, decreasing rates, and proposed US Securities and Exchange Commission regulations on environmental, social and governance disclosures (ESG) are just some of the challenges...
Posted: Apr 19, 2023