Insurance
Price Forbes Re Taps Aon’s Power for Alternative Risk and Capital Solutions; AXA XL Promotes Kilshaw as Head of Broker Mgmt., Alternative Distribution, UK & Lloyd’s
This edition of International People Moves details appointments at Price Forbes Re and AXA XL. A summary of these new hires follows here. Price Forbes Re (PF Re) announced the appointment of Sherman Power to the newly created role of …
Read More UK Terrorism Reinsurer Pool Re Completes Expanded Retrocession Placement of £2.75B
Pool Re, Britain’s government-backed terrorism reinsurer, has completed placement of a new retrocession programme with more than 60 international reinsurers. The placement provides £2.75 billion ($3.5 billion) aggregate excess of loss cover, increased from £2.4 billion ($3.0 billion), with Hannover …
Read More Japan Battles Worst Wildfire in 40 Years Amid Record Dry Season
Japan is battling its worst wildfire in four decades, forcing thousands of people to flee amid some of the driest weather on record. At least one person has been killed since the blaze broke out Feb. 26 near the the …
Read More South Korea’s New Lithium Battery Rules on Planes Highlight Growing Risk for Aviation
South Korea tightened rules on carrying lithium batteries on planes from Saturday, highlighting a growing risk to flights worldwide from the batteries used in cellphones and e-cigarettes which can malfunction to produce smoke, fire or extreme heat. Last year three …
Read More Optio Group Acquires Norwegian-Based Marine Hull Specialist MGA, S Insurance
Optio Group, the London-based independent specialty MGA, announced it has acquired Norwegian-based MGA S Insurance AS (S Insurance) for an undisclosed sum, subject to regulatory approval. This acquisition follows Optio’s acquisitions of Netherlands and-Brussels based MGA Den Hartigh and Luxembourg-based …
Read More SEC’s ‘Demolition’ of Crypto Enforcement Met With Cheers as Well as Jeers
The US Securities and Exchange Commission has kicked off the new year with a makeover, wiping clean its slate of crypto enforcement actions and turning what was once a hostile landscape for digital assets into a potential haven. In the …
Read More CFPB Data Imperiled by Cybersecurity Contract Cancellation, Ex-Official Says
The cancellation of nearly three-dozen cybersecurity contracts at the US Consumer Financial Protection Bureau endangers the security of sensitive data maintained by the federal watchdog, a former senior official at the bureau said in court documents filed Friday. Former CFPB …
Read More Tennessee Gynecologist Charged With Unnecessary Medical Procedures
MEMPHIS, Tenn. (AP) — A Tennessee gynecologist was arrested Friday and accused of performing unnecessary procedures on patients with re-used medical devices held under unsanitary conditions. Dr. Sanjeev Kumar, 44, is charged with enticing four people to travel interstate to …
Read More Computer Simulations Suggest Atlantic Current Shutdown Less Likely This Century
The nightmare scenario of Atlantic Ocean currents collapsing, with weather running amok and putting Europe in a deep freeze, looks unlikely this century, a new study concludes. In recent years, studies have raised the alarm about the slowing and potential …
Read More Florida Bills Would Set up Limited Trust Fund for Home Hardening Grants
Florida’s chief financial officer, now a candidate for Congress, is backing a bill that would set up a trust fund that would help fund home hardening grants for years to come. Senate Bill 1466, sponsored by state Sen. Nick DiCeglie, …
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