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INSURANCE NEWS
LA Port Strike Risk Pushed to Friday as Labor Talks Continue
The union representing about 250 security workers at the U.S.’s biggest seaports agreed to extend a contract negotiation deadline until midnight Friday, their employers said. With the extension comes a renewed strike threat that could impact operations at several terminals …
Police Clash With Protesters in French City of Lyon
French riot police fired tear gas and charged a group of protesters in the French city of Lyon on Thursday as demonstrations took place across the country in a renewed challenge to President Emmanuel Macron after weeks of unrest. Some …
People Moves: SAN Group Names Chief Operating Officer; Radian Names Executives
SAN Group Names von Jess Chief Operating Officer SAN Group, headquartered in Hampton, New Hampshire, appointed Tom von Jess as chief operating officer. With more than 20 years of experience in insurance, benefits, partnerships, and multistate distribution, von Jess will …
Insurer FM Donates Rhode Island United Way’s Largest Gift in Its History
Commercial property insurer FM announced a $5 million gift from the FM Foundation to United Way of Rhode Island,. The gift is the largest single corporate donation in the nonprofit organization’s history. The donation comes as the state’s United Way …
AI-Powered Insurance Startup Kalepa Valued at $470M in New Funding Round
Insurance startup Kalepa on Oct. 5 said it raised $75 million at a $470 million valuation, as investors bet that AI solutions can speed up the slow, data-heavy work of pricing risk and writing policies. Growth equity firm Updata Partners …
Pennsylvania Reports Sixth Measles-Linked Death as Cases Rise
Pennsylvania health officials on Wednesday reported the state’s sixth measles-associated death this year as the outbreak continued to spread. The state has emerged as the epicenter of the outbreak, accounting for a substantial share of infections reported nationwide. The state …
Markets/Coverages: Aon Client Treaty Facility Expands to 35% Co-Insurance for 2027
Aon plc, the re/insurance broker, announced the successful renewal of the Aon Client Treaty (ACT) facility. From Jan. 1, 2027, the facility will enable 35% co-insurance on eligible business placed through Aon’s Global Broking Centre and on facultative reinsurance placed …
AI Sharpens Cat-and-Mouse Hacking Battle as Companies Strengthen Defenses
From hacked supermarket fridges and a record cryptocurrency theft at Binance to an emergency over flaws in widely used web software, companies worldwide are facing a wave of cyber threats executives say AI is accelerating and making more sophisticated. The …
More Bomb Threats Divert Flights, Cause Disruption in Europe
Airlines were forced to divert more flights carrying passengers across Europe on Thursday because of bomb threats, following a series of warnings that disrupted several airliners earlier this week. A Wizz Air Holdings Plc aircraft flying from Milan to Warsaw …
Stray Drones Spawn a Growing Area of the Insurance Market
Storms, high winds, fire hazards and equipment failure are many of the typical risks involved with the solar power industry. For the Dagda solar farm in rural Latvia, there’s now another one: drones. The owner of the farm, Sunly, has …
AIG Steps Back from NPW Growth Target on Pressure in Some Lines
In one form or another during periods of some kind of marketplace softening, public insurance companies will insist underwriting discipline is being maintained. The insurer, they will say, won’t chase rate. For AIG, that means stepping back from guidance it …
Florida Appeals Court Bars Release of ‘Trade Secret’ Info in Heritage Claims Litigation
A Florida appeals court has blocked, at least for now, a lower court’s order that would have required the release of financial records that Heritage Property & Casualty Insurance and two other carriers have said are trade secrets protected by …
