Insurance
McKinsey Agrees to Pay $230 Million to Settle More Opioid Suits
McKinsey & Co. is poised to pay $230 million in its latest settlement of lawsuits blaming the company for its role advising opioid manufacturers in their sales of the painkillers. The proposed accord with local governments and school districts filed …
Read More Kia, Hyundai Recall Over 3 Million Vehicles for Fire Risks
Hyundai and Kia are recalling a combined 3.37 million vehicles in the United States due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete. The automakers say brake fluid leaks …
Read More Tornado-damaged Pfizer Plant in North Carolina Restarts Production
ROCKY MOUNT, N.C. (AP) — A major Pfizer pharmaceutical plant in North Carolina that makes critical supplies for U.S. hospitals has restarted production about 10 weeks after it was heavily damaged by a tornado, the company announced Monday. Getting a …
Read More People Moves: Taylor Joins ReSource Pro as Global Head of Marketing
Taylor Joins ReSource Pro as SVP, Global Head of Marketing ReSource Pro, headquartered in New York, N.Y., named Beth Taylor senior vice president and global head of marketing. Taylor brings over 18 years of experience in global B2B marketing, including …
Read More Markets/Coverages: Bold Penguin Partnering With NEXT Insurance
Bold Penguin has partnered with NEXT Insurance, a leading technology-first small business insurer, to enhance small business coverage options on the Bold Penguin Terminal. Per a press release, through this partnership, Bold Penguin users will gain access to NEXT’s General …
Read More Rising Claims Costs Limit US P/C Profitability in 2023
While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to the U.S. Property & Casualty Outlook report, the …
Read More The Challenges of a Widening Cyber Insurance Protection Gap
According to privileged access management Delinea’s report, Closing the Cyber Insurance Gap – 2023 State of Cyber Insurance, a significant gap is emerging between insurance carriers and organizations who are seeking affordable, comprehensive cyber coverage. More than 20 respondents in …
Read More Markets/Coverages: Aon Offers Financial Institutions Solution With Capacity of $100M
Insurance broker Aon plc announced the launch of a flagship new insurance solution, FI Protect 360, created in collaboration with several leading London market insurers. FI Protect 360 is designed to address key operational risks faced by today’s financial institutions …
Read More Hiscox Agrees to Sell Motor Insurance Business in Singapore and Thailand
Hiscox Ltd., the Bermuda-headquartered specialist insurer, announced it has entered into an agreement to sell DirectAsia, its motor insurance business in Singapore and Thailand, to Ignite Thailand Holdings Ltd., the parent of the Roojai group of companies. The transaction is …
Read More Insurtech MGA Loadsure Partners With WeatherOptics to Boost Cargo Risk Calculations
Loadsure, the London-based insurtech and managing general agent, has partnered with WeatherOptics, a leading weather intelligence platform, with the aim of bringing weather intelligence into its risk calculations. Loadsure directly addresses the global freight underinsurance crisis with data powered, AI-priced, …
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