Insurance
Texas Panhandle Shaken by Strongest Earthquake to Hit the Region
A 5.0 magnitude earthquake rocked the Texas Panhandle early Thursday morning, one of the strongest recorded in Texas. Effects from the earthquake were felt throughout the rural region and as far as southern Oklahoma and New Mexico. According to the …
Read More Cyclospora Outbreak Linked to Tainted Mexican Lettuce Widens
The cyclosporiasis outbreak that’s sickened thousands of people in the US is spreading further, as federal health officials linked four more states to tainted iceberg lettuce imported from Mexico. The US Centers for Disease Control and Prevention tied Illinois, Kansas, …
Read More Prudential Reimburses 2.85 Billion Yen After Misconduct Probe
Prudential Financial Inc. said it reimbursed 437 individuals about a total of 2.85 billion yen ($17.4 million) as part of remediation efforts following a regulatory probe into employee misconduct at its Japan business. In addition to the 498 individuals who …
Read More US Mortgage Rates Rise for Third Straight Week
Mortgage rates in the US, already the highest in almost a year, rose for a third week, squeezing affordability as home price growth accelerates. The average for a 30-year, fixed loan climbed to 6.58% from 6.55% a week earlier, Freddie …
Read More Tesla Expands Robotaxi Service to Orlando, Tampa
Tesla this week expanded its robotaxi service to Orlando and Tampa, as the electric-vehicle maker races to prove that it can scale its autonomous ride-hailing business beyond its initial launch markets. The move comes a day before Tesla reports second-quarter …
Read More People Moves: Executive Changes at Hudson Insurance
Odyssey Group Holdings, Inc., based in Stamford, Connecticut, made several leadership changes at its U.S. insurance subsidiary, Hudson Insurance Group, based in New York City. After more than 20 years with the company, Chris Gallagher will retire from Hudson, effective …
Read More Husband and Wife Insurance Brokers Sentenced for Fraud Scheme
A married couple from New Bedford, Massachusetts was sentenced yesterday for a scheme to defraud at least 50 individuals or insurance providers seeking insurance coverage through their business, BL Insurance Brokerage, LLC. According to U.S. Attorney Leah B. Foley, a …
Read More Insurer Mapfre Estimates Venezuela Quake Losses at €25 Million
Spanish insurer Mapfre said on Thursday that losses from the June 24 earthquakes in Venezuela would be up to €25 million ($28.5 million), after its first-half net profit grew 9.4% despite storm-related claims in Spain and Portugal and negative currency …
Read More Munich Re Reports €2.2 Billion Profit on ‘Very Low’ Major Losses
Munich Re reported second-quarter proft that exceeded analyst estimates on “very low” major-loss expenditures in its property-casualty reinsurance business. Net income amounted to about €2.2 billion ($2.5 billion) in the three months through June, the Munich-based reinsurer said in a …
Read More US and Allies Say Russian Hackers Stole Emails Without Social Engineering
The United States and more than a dozen allied nations said on Thursday that Russian hackers stole emails from users of the Zimbra email program without having to fool them into opening an attachment or clicking a link. The trick, …
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