Insurance
Customer Sues Dunkin Donuts Over ‘Exploding’ Toilet in Florida
ORLANDO, Fla. (AP) — A customer has filed a negligence lawsuit against Dunkin`, claiming he was injured by an exploding toilet at one of the coffee chain`s locations in central Florida. Paul Kerouac is seeking more than $100,000 in a …
Read More Majesco Acquires Decision Research Corp. Insurance Software Business
Majesco, a cloud insurance software provider for the insurance business, announced it has acquired the Decision Research Corporation (DRC) business. DRC, based in Philadelphia-based, is an SaaS-based insurance software company. It offers enterprise rating for large insurers, a reinsurance product, …
Read More Cohen Vows to Appeal Denial of Retaliatory Imprisonment Liability Claim Against Trump
Michael Cohen can’t hold his former boss, ex-president Donald Trump, liable because he was jailed for what he claimed was retaliation for writing a tell-all memoir, an appeals court said Tuesday. The 2nd U.S. Circuit Court of Appeals in Manhattan …
Read More Markets/Coverages: Lloyd’s Announces 1st 144A Cat Bond on Its London Bridge Platform
Lloyd’s, the re/insurance marketplace, announced that the first 144A catastrophe bond has been issued on its risk transformation platform London Bridge 2 PCC Ltd. Beazley is the sponsor of the US$100 million transaction, on behalf of its Lloyd’s syndicates (623, …
Read More Russia Oil Tankers Are Doing Strange Things Since Ramp Up of US Sanctions
There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in US sanctions targeting traders and shipping companies moving the nation’s petroleum. Over the past month or so, a total of …
Read More Gallagher Acquires German Specialty Broker Köberich Financial Lines
Gallagher announced it has acquired Köberich Financial Lines. Terms of the transaction were not disclosed. Köberich specializes in D&O insurance, plus other financial lines products including cyber, warranties & indemnities, professional indemnity and crime insurance. Köberich has a team of …
Read More Hong Kong Employees Demand 6% Raise to Work in Office Full Time
Hong Kong workers say they would need a 6% raise to give up hybrid work arrangements, a dilemma that’s expected to prompt more companies to reduce space and dampen office rents, according to a survey. More than half of respondents …
Read More FEMA Adds Nearly $620M to Reinsurance Program
FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the private reinsurance market as part of its 2024 reinsurance placement. The 2024 reinsurance placement covers portions of NFIP losses above …
Read More Microsoft, OpenAI Hit With New Lawsuit by Authors Over AI Training
OpenAI and its financial backer Microsoft were sued on Friday in Manhattan federal court by a pair of nonfiction authors who say the companies misused their work to train the artificial-intelligence models behind the popular chatbot ChatGPT and other AI-based …
Read More Affinity Hires Revenue Chief, NC DOI Elevates Counsel to Chief Operating Officer
Affinity Advisors, providers of a digital platform for securing specialty insurance, has named a former Aon and Marsh McLennan executive to be chief revenue officer. Andrew Suesserman, who spent 12 years with Marsh and Aon, will move into his new …
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