Insurance
Supreme Court Rejects Bid to Sue Meta Over Church Shooting
The US Supreme Court declined a chance to open social media companies to lawsuits over content recommended by their algorithms, turning away an appeal that accused Meta Platforms Inc.’s Facebook of radicalizing a man who killed nine South Carolina churchgoers. …
Read More SiriusPoint Sells MGA, Arcadian Risk Capital, for $139M, Forms Long-Term Capacity Deal
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced an agreement to sell its 49% equity stake in managing general agent, Arcadian Risk Capital to private equity firm Lee Equity Partners for a total consideration of $139 million, inclusive of …
Read More With Capital Aplenty and Power of AI, Commercial Lines Promises Opportunity: Willis
The commercial insurance industry is entering a period of stability and opportunity made possible by an abundance of capital and the power of artificial intelligence (AI), according to a new report from global broker Willis. This promising stage comes after …
Read More Illinois Sues to Block National Guard Deployment to Chicago Area
Illinois sued the Trump administration over its plan to deploy National Guard troops to the Chicago area, setting off a fresh legal battle over the president’s authority to use soldiers to respond to protests over his immigration crackdown. The lawsuit …
Read More Georgia Man Indicted a Year After Arrest for Posing as Insurance Agent
More than a year after he was charged, a Georgia businessman known as “Dr. Taxes” has been indicted for posing as an insurance agent and swiping hundreds of thousands of dollars in workers’ compensation premiums. Emmanual Torres-Cruz, 35, was indicted …
Read More Iberian Blackout Was First Known Caused by Excessive Voltage, Report Says
The massive power outage that hit the Iberian Peninsula in April is the first known blackout caused by excessive voltage, the European network of electricity transmission system operators said in a report on Friday [October 3] . Released ahead of …
Read More Intact Financial Corp. Rebrands Subsidiaries RSA and NIG as Intact Insurance
Intact Financial Corp. (IFC) announced the official rebranding of RSA and NIG to Intact Insurance across the UK, Ireland and Europe. This move marks a significant milestone in the company’s journey which is now united under a single brand, reflecting …
Read More Global Indemnity’s Penn-America Underwriters Launches its First Reinsurance MGA
Global Indemnity Group LLC (GBLI) announced that its subsidiary, Penn-America Underwriters LLC, is launching its first reinsurance managing general agency (MGA), in partnership with veteran reinsurance executive George Dragonetti, who will also serve as president of the new unit. Penn-AmericaUnderwriters …
Read More Hedge Funds Targeting Fire Insurance Hit a Wall in California
Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow, after the state adopted new legislation designed to stifle such bets. Under the law, approved last month by California Governor Gavin Newsom, alternative investment managers …
Read More Markets/Coverages: Chaucer Launches Cyber Risk Management and Insurance Solution
Chaucer Group, the global specialty re/insurance group, announced the launch of Vanguard, a comprehensive cyber risk management and insurance solution designed to protect organizations in the face of an evolving threat landscape. This new primary business policy focuses on complex …
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