Insurance
Pelican Ventures Invests in Nsure.com
Digital insurance agency Nsure.com said today it secured a strategic investment from insurance-focused fund Pelican Ventures, a private firm founded by Renaissance Re founder Jim Stanard and TigerRisk founder Rod Fox. Fox has agreed to join Nsure’s advisory board. The …
Read More Starbucks Illegally Fired Manhattan Supervisor Over Union Activities, Labor Judge Rules
Starbucks violated U.S. labor law by firing a Manhattan store supervisor who had organized workers to join a union, a federal labor board judge ruled on Monday. The National Labor Relations Board established “striking and strong evidence of animus” behind …
Read More New Jersey High Court to Hear Insurers’ Appeal Over War Exclusion in NotPetya Attack
The New Jersey Supreme Court has agreed to decide whether a hostile/warlike action exclusion in an all risks property insurance policy applies in a case involving insurance coverage for a 2017 Russian cyberattack. The state’s high court will hear an …
Read More Airlines Face Doubling in War Insurance Premiums After Sudan Losses: Sources
Airlines could end up paying twice as much for insurance they need to protect themselves against losses triggered by war after a bruising year wiped out aviation war insurers’ revenue for 2023, industry sources say. Aircraft were destroyed at Khartoum …
Read More Markets/Coverages: New Lloyd’s Syndicate Provides E&S Cover for Calif. Wildfire Risks
Wildfire Defense Systems Inc., Polo Managing Agency Ltd. (PMA) and Aon, announced Lloyd’s has approved the launch of Wildfire Defense Syndicate 1996, which started underwriting on July 1, 2023. Created under Lloyd’s “Syndicate-in-a-Box” program, Wildfire Defense Syndicate 1996 will focus …
Read More Human-Induced Climate Change Plays ‘Overwhelming’ Role in July Heatwaves: Scientists
Human-induced climate change has played an “absolutely overwhelming” role in the extreme heatwaves that have swept across North America, Europe and China this month, according to an assessment by scientists published on Tuesday. Throughout July, extreme weather has caused havoc …
Read More One Dead in Cargo Ship Fire With Electric Car as Suspected Source: Dutch Coastguard
One person died and several others were hurt when a fire broke out on a cargo ship carrying cars off the northern tip of Netherlands, forcing several crew members to jump overboard, the Dutch coastguard said on Wednesday. The Panama-registered …
Read More Scientists Alarmed About Antarctica’s Unprecedented Lack of Sea Ice Growth
Amid a summer of record heat, the most dramatic impact may be taking place under the cover of Antarctic night. The continent at the bottom of the world normally sees a halo of sea ice grow around it each summer …
Read More Australia Fines Facebook Owner Meta $14M for Failure to Disclose Data Collection
An Australian court ordered Facebook owner Meta Platforms to pay fines totaling A$20 million ($14 million) for collecting user data through a smartphone application advertised as a way to protect privacy without disclosing its actions. Australia’s Federal Court also ordered …
Read More Russia’s Danube Attacks Threaten Ukraine Grain Exports; Ports’ Insurance Rates Rise
Russian air strikes on Ukrainian grain facilities on the Danube this week threaten a vital river route for Kyiv’s exports, as Moscow seeks to tighten the noose around a key sector of the economy days after abandoning the Black Sea …
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