Insurance
AI Focal Point of Cybersecurity Outlook for 2025, Says Experian
Artificial intelligence is at the center of Experian’s annual breach forecast due to its enabling capabilities. Michael Bruemmer, vice president of global data breach resolution at information services company, said that while ransomware and breaches affecting the supply chain dominated …
Read More Trucordia Acquires Virginia’s Richard King Agency
Insurance brokerage Trucordia reports that its most recent acquisition is the Richard King Insurance Agency, a family-owned brokerage firm in Powhatan, Virginia. The Richard King Insurance Agency has been offering personal and commercial insurance in the greater Richmond area since …
Read More Deloitte Faces Class Action Lawsuits Over Rhode Island Cyber Breach
Deloitte Consulting has been hit with class action lawsuits over the cyber breach of Rhode Island’s portal for state-administered benefits known as RIBridges. The suits have been brought in Rhode Island and New York federal courts on behalf of individuals …
Read More Meta Settles With Australia’s Privacy Watchdog Over Cambridge Analytica Lawsuit
Meta Platforms has agreed to a A$50 million settlement ($31.85 million), Australia’s privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal. The Office of the Australian Information Commissioner had alleged …
Read More Ex-West Virginia School System Official Charged With Stealing $3.4 Million
CHARLESTON, W.Va. (AP) — A former maintenance director of a southern West Virginia county school system was charged in a scheme to steal about $3.4 million from a local board of education. Michael David Barker appeared in court Wednesday after …
Read More Toyota to Add $922M Paint Facility at Large Kentucky Complex
GEORGETOWN, Ky. (AP) — Toyota plans to build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest manufacturing …
Read More Becton Dickinson to Pay $175 Million to Settle SEC Probe
Becton, Dickinson & Co. has agreed to a $175 million fine over Securities and Exchange Commission claims it repeatedly misled investors about one of its most important products. The regulator said Becton Dickinson was aware an infusion pump it manufactured …
Read More ConnectUW Holdings Opens for Business at Lloyd’s
ConnectUW Holdings, the parent company of Connect Underwriting and other specialist reinsurance MGAs, announced it will take ownership of Lloyd’s box number 356 from Dec. 23, 2024. Situated in the company market section on Gallery 3, ConnectUW will initially offer …
Read More DAC Beachcroft Expanding Into US With 2 New Offices
Law firm DAC Beachcroft said it is expanding into the U.S. with offices in New York and Los Angeles. Insurance specialists Lawrence Klein and Gilbert Lee will join UK-based DACB as partners from law firm Robinson+Cole. They provide advice to …
Read More AXIS to Transfer $2.3B of Reinsurance Reserves to Enstar in Boost to Specialty Focus
AXIS Capital Holdings Ltd. and Enstar Group Ltd. announced they have entered into a loss portfolio transfer (LPT) reinsurance agreement, which will retrocede $2.3 billion of AXIS’s reinsurance reserves. Structured as a 75% ground-up quota share, the LPT reinsurance agreement …
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