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INSURANCE NEWS
Japan’s Cyberattack Surge Tests Its Push to Strengthen Defenses
Japan is facing an intense wave of AI-powered cyberattacks that’s laid bare the vulnerability of one of the world’s largest economies to a new breed of hacking. Dozens of incidents affecting companies from brokerages to delivery firms have made data …
HSBC Seeks to Hedge Data Center Debt With Credit Risk Insurance
HSBC Holdings Plc is looking to offload credit risk on data center loans to insurers as demand for artificial intelligence-related finance continues to grow. The bank is holding preliminary discussions with insurers about a series of project finance deals, some …
Binance Estimates $6.3 Billion Hacked in Crypto’s Biggest-Ever Heist
Binance, the world’s largest cryptocurrency exchange, has suffered the industry’s biggest-ever hack in a fresh blow to efforts to push digital assets into the mainstream.Binance Holdings on Friday said $6.3 billion worth of funds were affected, with $3 billion in …
Suspected Billion-Dollar Binance Hack Sends Fear Through Crypto
A suspected hack impacting billions of dollars of funds on the Binance crypto exchange spurred emergency asset freezes and sent the price of digital assets tumbling. Executives of the world’s biggest trading venue for the currencies said they were investigating …
Zillow to Pay $212.5 Million to Settle Class Action Over Failed Venture
Zillow said on Wednesday it will pay $212.5 million in cash to settle a class action accusing the online real estate marketplace of misleading shareholders about its failed Zillow Offers home-flipping venture. The Seattle-based company did not admit wrongdoing in …
Greek Container Ship Sinks After Drone Attack off Bulgaria
A Greek container ship has sunk after being hit by naval drones off Bulgaria on Wednesday, the Bulgarian government said, in the latest of a series of strikes in the western Black Sea this month that have raised concerns about …
Miami Beach Buildings Sinking at Different Rates, Due to Construction, Study Finds
Much of the Miami Beach skyline, on ground that’s just a few feet above sea level, is sinking. But some of the iconic skyscrapers there are sinking at different rates and much of the subsidence is due to non-stop building …
Colorado’s Glaciers Thinned Dramatically Due to Record Low Snow And Heat This Year
The most prominent glaciers in Colorado thinned dramatically over the past year due to record low mountain snow and record warm temperatures, according to new research. Their shrinking is on par with recent observations of glacier loss across the planet …
Rainier Partners Acquires Texas MGA Platform Apex
Rainier Partners, a private equity firm investing in lower middle-market services businesses, has acquired Apex Insurance Services, a multi-brand managing general agency (MGA) platform focused on the Texas non-standard auto insurance market. Headquartered in Richardson, Texas, Apex manages five MGAs …
Midwest Gasoline Supplies Hit Lowest On Record As Election Nears
Gasoline stockpiles in the Midwest have fallen to an all-time low, raising the threat of persistently high pump prices in the region just days away from a handful of crucial Senate elections. Commercial gasoline supplies declined to 41 million barrels …
Screwworm Reaches Arizona for First Time as Outbreak Spreads
New World screwworm was found in Arizona for the first time, as cases of the deadly parasite threatening the US cattle herd spread west into a third state. The US Department of Agriculture confirmed the infection late Wednesday in a …
Greek PM Calls for Global Maritime Truce After Greek Ship Sunk in Drone Attack
Greek Prime Minister Kyriakos Mitsotakis called on Wednesday for a global maritime truce after a drone attack sank a Greek container ship off Bulgaria, the latest of a series of strikes on ships in the western Black Sea this month. …
