Insurance
Private Equity Firm TA Associates Weighs Sale of Australian Insurance Broker Honan
Private equity firm TA Associates is exploring a sale of its stake in Australian insurance broker Honan Insurance Group Pty amid interest from other potential investors, according to people familiar with the matter. TA is working with a financial adviser …
Read More Property Leads Q1 Commercial Insurance Price Increases: WTW CLIPS
Commercial property insurance, with double-digit first quarter price increases, led other lines of businesses tracked by WTW’s Commercial Lines Pricing Survey (CLIPS). CLIPS found the aggregate price change for U.S. commercial insurance was up 5.6% for the first three months …
Read More Court Agrees to Postpone One Lindberg Trial While Bribery Case is Retried
Embattled North Carolina insurance magnate and businessman Greg Lindberg won’t have to face two criminal trials in the same year, a federal judge has decided. U.S. District Judge Max Cogburn last week agreed to delay Lindberg’s upcoming trial on fraudulent …
Read More Cyber Insurance Premiums Surge by 50% as Ransomware Attacks Increase
US cyber insurance premiums surged 50% in 2022 as increased ransomware attacks and online commerce drove demand for coverage. Premiums collected from policies written by insurers reached $7.2 billion in 2022 and tripled in the past three years, ratings firm …
Read More Stellantis Recalls Over 354,000 Jeeps Worldwide
Stellantis is recalling more than 354,000 Jeeps worldwide because the rear coil springs can fall off while they’re being driven. The recall covers certain 2022 and 2023 Grand Cherokee and 2021 to 2023 Grand Cherokee L SUVs. The company says …
Read More $2M Insurance Policy in Effect for Hawaii Coral Reefs in Time for Hurricane Season
An environmental group has a $2 million insurance policy on Hawaii’s coral reefs, which is in effect in time for a busier hurricane season that could damage the vital natural resources that are increasingly under threat from climate change. In …
Read More California Restaurants Offered Priest to Extract Confessions of Workplace ‘Sins’
Federal wage and hour investigators say a northern California restaurant attempted to use an alleged priest to get employees to admit workplace “sins.” During litigation by the U.S. Department of Labor in federal court, an employee of Che Garibaldi Inc., …
Read More Connecticut Man Pleads Guilty to Role in Catalytic Converter Theft Ring
The U.S. Attorney for Connecticut reports that a New Britain man has pleaded guilty to participating in a stolen catalytic converter trafficking ring. Roberto Alicea pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property, an …
Read More London Court Orders UK-Registered Firm to Pay More Than $1M to Beirut Blast Victims
A London court has ordered a British-registered company to pay more than 800,000 pounds ($1 million) in damages to victims of the 2020 blast at Beirut’s port, a lawyers group in Lebanon said on Monday, in the first such verdict …
Read More North Korean Hackers Stole $100 Million in Recent Cryptocurrency Heist: Analysts
North Korean hackers stole more than $100 million worth of digital currency in a recent heist affecting users of the Atomic Wallet service, cryptocurrency analytics firm Elliptic said Tuesday. In a blog post, Elliptic said that more than 5,500 digital …
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