Insurance
Philadelphia Insurance Is Back Up and Running After Network Outage
Philadelphia Insurance reports its operations have been restored following a network outage. “We have resumed regular operations, though we continue to address minor technical issues as they arise,” the company stated in an update on its handling of a network …
Read More Google Owes $314 Million for Misusing Android Cell Phone Data
Google was told by a California jury to pay $314 million over claims that it illegally used Android users’ cellular data to collect information without their knowledge. A state court jury in San Jose issued the verdict Tuesday following a …
Read More Nationwide Completes $1.25B Deal for Allstate’s Stop-Loss Segment
Insurer Nationwide said it has completed the purchase of Allstate’s Group Health business segment for $1.25 billion. The acquisition was announced in January. Nationwide said the purchase will strengthen and diversify Nationwide Financial’s portfolio, expanding the company’s ability to sell …
Read More Heat Waves May Cut GDP by 0.5 Percentage Point in Europe, Allianz Says
Recent heat waves across Europe could slow economic growth in Europe by half a percentage point in 2025, a report by Allianz Research showed, comparing a day with temperatures above 32 degrees Celsius to half a day of strikes. In …
Read More Markets/Coverages: Hiscox Offers Digital Cover for Small Cargo, Stock Throughput Risks
Hiscox, the Bermuda-based global specialist insurer, has launched a new Cargo API (application programming interface)-based solution, available through broker partners for underwriting small cargo and stock throughput risks. Responding to demand for an insurance product to cover the smaller cargo …
Read More NYC Mayor Adams Signs Bill Lowering For-Hire Vehicles’ Insurance Mandate
New York City Mayor Eric Adams has signed into law legislation reducing the auto-insurance liability coverage that for-hire vehicles must carry. The new law reduces the amount of personal injury protection (PIP), or no-fault, insurance coverage that the city’s 74,000 …
Read More Business Moves: Howden Japan Acquires Holos; Ageas Buys Saga’s Underwriting Biz; BMS Purchases Australian Property Broker; UK’s Direct Line Now Owned by Aviva
Howden Japan Acquires Majority Stake in Retail Broker Holos Howden, the London-based insurance intermediary group, announced it has acquired a majority stake (68.3%) in Holos Holdings Co. Ltd., a leading retail insurance broker headquartered in Kyoto. Founded in 2001 by …
Read More Highway Robberies Are Now Just Part of Doing Business in Mexico
Late one Friday night, a truck carrying sound equipment for legendary cumbia band Los Angeles Azules was pulled over along the Mexico-Puebla highway. Police at the checkpoint were in fact bandits, and upon seeing the pricey cargo they drew their …
Read More M&S Expects Cyberattack Impact to Be Over by August, CEO Says
Marks & Spencer Group Plc expects its online services to be fully restored in the next four weeks as it continues to recover from April’s cyberattack, Chief Executive Officer Stuart Machin said. “I’m really hoping by August the majority of …
Read More Australia’s Qantas Says 6 Million Customer Accounts Accessed in Cyber Hack
A cyber hacker broke into a database containing the personal information of millions of customers, Qantas said, in Australia’s biggest breach in years and a setback for an airline rebuilding trust after a reputational crisis. The hacker targeted a call …
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