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INSURANCE NEWS
WSJ Wins Dismissal of Trump’s $10 Billion Defamation Suit
A federal judge threw out Donald Trump’s renewed $10 billion defamation lawsuit against the Wall Street Journal and ruled that it can’t be filed again, marking another setback for the president’s legal fights with the press. Judge Darrin Gayles in …
AIG Agrees to Acquire Everest Chile, Completes Purchase of Everest Colombia
American International Group (AIG) announced it has entered into a definitive agreement to acquire Everest Group Ltd.’s insurance subsidiary in Chile. AIG also announced the completion of its previously announced acquisition of Everest Compañía de Seguros Generales Colombia S.A. (Everest …
Cathay Pacific Joins Growing List of Airlines Hit by Data Breach
Hong Kong’s Cathay Pacific Airways Ltd. said it had joined a growing list of global airlines affected by a data breach at a major software provider. Cathay said around 53,000 bookings were affected by unauthorized access to reservation data held …
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL
A US federal appeals court on Friday reinstated a jury’s verdict against the National Football League in an antitrust lawsuit claiming it overcharged subscribers to its Sunday Ticket game telecasts for more than a decade, but said the league can …
Agency Back in Litigation Brought by Alabama Boat Dealer Over Unearned Premiums
An Alabama insurance agency cannot yet escape a boat dealer’s claim that the agency failed to refund thousands of dollars after coverage was canceled in 2023, the state Supreme Court said in a recent decision. McCarron Insurance Group, an independent …
Binance Restarts Withdrawals as Questions Linger on Record Hack
Binance began restoring customer withdrawals Sunday after hackers attempted to drain over $6 billion in the biggest cyber theft ever recorded, as the crypto industry awaits answers on the breach blamed on North Korea and steps to strengthen the exchange’s …
Binance’s $6.3 Billion Hack: How Crypto Insurance Works
Hackers stole $6.3 billion from Binance in the world’s biggest crypto heist, putting a spotlight on how cryptocurrency exchanges insure their digital assets against theft and cyberattacks. But insurance protection is far from uniform. Coverage depends on how assets are …
Some Trends Signal Potential Hope for US Commercial Auto: AM Best
A $2.2 billion underwriting loss in 2025 certainly isn’t anything to celebrate, but when it comes to U.S. commercial auto insurers, there may be a reason to crack a smile. According to a new report from AM Best, the loss …
Markel Expects to See Runoff Certainty With Enstar’s $1.2B Adverse Development Cover
Markel Group has entered into a reinsurance runoff agreement with Enstar Group, the legacy acquisition specialist that is providing $1.2 billion of adverse development cover for underwriting years 2025 and prior. “[W]e are taking decisive action on legacy exposures,” said …
Opterrix Launches AI-Powered Portfolio Management Workflow
Opterrix, a proactive risk intelligence and exposure management platform, this week launched Opterrix Portfolio Management, a new AI-powered workflow designed to help insurers gain a better understanding of their entire portfolios and make more informed underwriting and portfolio management decisions. …
Louisiana Man Arrested for Auto Insurance Fraud
A Louisiana man was arrested this week on a charge of insurance fraud for allegedly burning his pickup truck. St. Landry Parish Sheriff’s Deputies arrested Andronicus Edison, 58, of Palmetto after the Louisiana Office of State Fire Marshal’s (SFM) Fire …
AM Best Upgrades Credit Ratings of Kansas’ Upland Mutual
AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Upland Mutual Insurance, Inc. based in Junction City, Kansas. The outlook of these …
