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INSURANCE NEWS
PwC Confirms Cybersecurity Incident Involving Employee Learning Records
PwC on Oct. 23 said it was aware of a cybersecurity incident involving a third-party vendor used to host company employee learning records, the day after a cyber extortion group claimed to have stolen 590 gigabytes of company data. A …
JD Power: Total Loss Auto Claims Weigh Down Insurance Customer Satisfaction
Customer satisfaction with total loss auto insurance claims fell for a third straight year, while satisfaction improved for claims involving repairable vehicles, a new study looking at this year shows. Customer satisfaction with total loss claims fell 12 points on …
Black Lung Disease Hits 50-Year High, Report Says, as Claims Payments Climb Steadily
As black lung disease hits a 50-year high among Central Appalachian coal miners, protections and compensation from the federal government are not keeping pace, says a recent report from Reimagine Appalachia and the Appalachian Citizens’ Law Center. The groups found …
Delaware High Court Affirms Order for Verisk to Honor AccuLynx Merger Agreement
The Delaware Supreme Court has upheld a Chancery Court ruling ordering Verisk Analytics Inc. to keep working on a $2.35 billion acquisition of roofing software maker AccuLynx. Verisk tried to pull out of the deal last December after the Federal …
Chili’s Workers’ Suit Challenges New York State’s Lower Wage for Tipped Workers
A lawsuit filed on Friday involving the pay practices of Chili’s operator Brinker International is seeking to strike down New York state’s lower minimum wage for workers who earn tips, which it claims fuels the sexual and racial harassment of …
Washington Roofer Fined After Worker Dies in Fall Through Skylight
A Washington contractor was fined $48,803 after a roofer was killed when he fell through a skylight. Leslie & Campbell Inc. of Union Gap was fined $48,803 after a roofer fell more than 25 feet through an unguarded skylight to …
Turkish Insurer Sinks as Top Executives Arrested in Fund Probe
Turkiye Sigorta AS shares extended losses after local media reported that two of its top executives were arrested as part of a sweeping probe into allegations of market manipulation in Turkish funds. Chief Executive Officer Taha Cakmak and his deputy …
India Braces for Cyclone as El Niño Upends Global Storm Seasons
Tropical Cyclone Arnab is expected to hit India’s east coast on Wednesday, marking a break in an otherwise calm season that’s been subdued by a severe El Niño. Arnab is currently 859 kilometers (534 miles) southwest of Kolkata, packing top …
PHP Security Flaws Highlight Potential Systemic Risk Aggregation for Cyber Insurers
Recently discovered security flaws in PHP programming language, used by many websites globally, has highlighted the potential for cyber risk aggregation, which has long worried insurers and made them reluctant to aggressively increase their risk appetites, according to the ratings …
Explosion and Fire Erupt at Quaker Oats Plant in Iowa
An apparent explosion caused a fire over the weekend at a Quaker Oats plant in Iowa that the company touts as the largest milling facility in the world. No one was hurt, fire officials said. The Cedar Rapids Fire Department …
People Moves: CM Vantage Appoints Finnegan as Managing Director, Casualty; Alliant Adds Sprangler to Midwest Benefits Team
CM Vantage has appointed Amy Finnegan as managing director, casualty, bringing excess and surplus lines expertise and leadership to its underwriting organization. In her new role, Finnegan will lead casualty underwriting strategy and help drive profitable growth while working closely …
Marine Life Declined in Gulf of Mexico After BP Oil Spill, Study Finds
In a deep, dark part of the Gulf of Mexico, the number of marine animals plummeted by about 60% in the years following the 2010 Deepwater Horizon explosion, a new study found. In a crucial part of the Gulf between …
