Insurance
SEC, SolarWinds Reach Settlement to End Lawsuit Related to 2020 Breach
The U.S. Securities and Exchange Commission and software company SolarWinds Corp. have reached a settlement, ending a federal lawsuit that alleged investor fraud and known cybersecurity vulnerabilities. Early this month the SEC and SolarWinds jointly filed to stay the case, …
Read More Chantal Flooding Forces Dozens to Flee Homes in North Carolina
CHAPEL HILL, N.C. (AP) — Floodwaters from the remnants of Tropical Storm Chantal swept a woman in her car from a rural road and forced dozens of people to flee their homes, officials in North Carolina said Monday. Parts of …
Read More Containment Increases on California Wildfire That Forced Evacuations
Firefighters are making progress on the biggest wildfire in California this year. Containment has increased on the Madre Fire to 35%. The wildfire on the central coast of California has burned 80,603 acres, prompting evacuation orders and closing part of …
Read More Governor Signs Bill That Ends One State-Backed Reinsurance Layer, Reduces Another
Florida Gov. Ron DeSantis last week put his signature on House Bill 5013, which ends one state-backed level of reinsurance and slashes another one, a move that could create a little more demand for private reinsurance coverage in the state. …
Read More Appeals Court Nixes Class Actions Against Progressive Over Actual Cash Value
Progressive Insurance will not have to face two class actions by Pennsylvania insureds alleging that the insurer systematically underestimated the actual cash value (ACV) of their totaled vehicles and thus breached its insurance agreements with them under state law. The …
Read More People Moves: Liberty Specialty Promotes Fraigneau to President, Europe; Insurance Industry Charitable Foundation Launches in Canada With Gladki as Exec Director
This edition of International People Moves details appointments at Liberty Specialty Markets in Luxembourg and the Insurance Industry Charitable Foundation in Canada. A summary of these new hires follows here. Liberty Specialty Promotes Fraigneau to President, Europe, as Sinz Retires …
Read More Virginia Sends Swift Water Rescue Teams to Help Texas Flood Recovery Efforts
In response to the catastrophic flooding impacting portions of Texas, Virginia Governor Glenn Youngkin announced the deployment on Monday of two Virginia swift water rescue Teams to assist in the ongoing recovery efforts. The deployment is at the request of …
Read More Market/Coverages: Willis Launches $200M Cargo Facility for Rising Geopolitical Risks
Willis, a WTW business, has launched ‘Undercover,’ a new $200 million facility, combining coverage for a range of geopolitical exposures faced by cargo owners worldwide. Developed by Willis in a joint proposition with specialist insurer, Markel, Undercover offers a unique …
Read More India’s Kerala State Seeks $1.1 Billion in Compensation From MSC Over Oil Spill
India’s southern state of Kerala has sued Swiss-based Mediterranean Shipping Company and sought $1.1 billion in compensation after one of its container vessels sank and leaked fuel into the Arabian Sea in May. The high court in Kerala issued an …
Read More Mexico Criminals Rob Truck Full of Gold, Silver Concentrate
Armed thieves robbed a truck carrying 33 tons of gold and silver concentrate belonging to Grupo Minero Bacis, costing the company millions of dollars in losses. Assailants blocked the semi-truck with two white-colored vehicles, assaulted the driver and the accompanying …
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