Insurance
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect
Alan Schnitzer, chairman and CEO of The Travelers Companies, has been elected chair of the board of directors of the American Property Casualty Insurance Association (APCIA). Dino E. Robusto, chairman and CEO of CNA Financial Corporation was elected chair-elect at …
Read More ‘Financial Hacking’ Plagues DeFi in Latest Setback for Crypto
Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year’s collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking. After being plagued for years by hackers seeking …
Read More Florida CFO Calls for Ban on Assignments of Benefits, Limits on Public Adjusters
In the wake of Hurricane Ian, Florida’s chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press conference in Cape Coral, a city hit hard by the …
Read More The Hanover: $28M Loss From Ian as Overall Cat Losses Exceed Assumption
The Hanover Insurance Group on Oct. 20 released an estimate of third-quarter over catastrophe and Hurricane Ian-related losses. Q3 losses are expected to be about $90 million, pre tax. Estimated losses from Ian will be about $28 million, mostly from …
Read More As Homeowners Rebuild After Ian, a Cooling New Housing Market Drops Material Costs
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine State. Inflation is indeed set to bump up …
Read More Report: Hurricane Ian Farm Loss Could Reach $1.56 Billion
Agriculture losses in Florida from Hurricane Ian’s high winds and drenching rains could reach $1.56 billion, with citrus, cattle, vegetable and melon operations among the hardest hit, the University of Florida reported Tuesday in a preliminary estimate. The school’s Institute …
Read More Worker Admits Dumping Industrial Waste into Jackson, Mississippi Sewer System
An employee of a Mississippi wastewater hauling company pleaded guilty in federal court Tuesday for his part in illegally discharging industrial waste into the capital city’s sewer system. William Roberts, an employee of Partridge-Sibley Industrial Services, admitted to supervising the …
Read More Maine’s ‘Cabin Masters’ Settles Lead Safety Claims
The company featured on the cable TV show “Maine Cabin Masters” has settled claims that it violated lead safety and exposure rules on some of its renovations. The settlement reached by the U.S. Environmental Protection Agency and Kennebec Property Services …
Read More New Jersey Lawsuit Alleges Climate Change Deception by Oil and Gas Firms, Trade Groups
New Jersey officials announced a lawsuit Tuesday against five oil and gas companies and a petroleum trade organization, alleging they had known for decades about the harmful impact of fossil fuels on climate change but instead deceived the public about …
Read More People Moves: Munich Re’s Blunck to Succeed Jeworrek Who Is Stepping Down; Lloyd’s Market Association Appoints 3 New Board Members
The Supervisory Board of Munich Re has appointed Dr. Thomas Blunck (age 57) as the chair of the Reinsurance Committee of the group’s Board of Management with effect from Jan. 1, 2023. He will succeed Dr. Torsten Jeworrek (61), who …
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