INSURANCE NEWS
What Disruptions Have Been Reported After the Global Tech Outage?
A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported: AIRLINES, …
Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss
The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion. The New York-based insurer posted …
Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ
Independent agents play a critical role in helping clients find the right home insurance policies for them. They are also instrumental in sharing information about general safety considerations for homeowners, which is especially essential during the summer when risks tend …
West Virginia’s Ludewig Retires as Agency Joins with Leavitt Group
Longtime West Virginia insurance agent Charles Ludewig has decided to retire, paving the way for his agency to join the Leavitt Group, one of the largest privately held brokerages in the country. “I’m looking forward to this next chapter and …
Chicken Culling, Disposal Raise Concern as Bird Flu Spreads
The spread of bird flu among poultry and dairy farms has heightened some health experts’ concerns that the process of killing and disposing of poultry infected with the virus may pose a risk to humans and livestock. Recent instances of …
Soccer Officials Arrested After Melee That Damaged Hard Rock Stadium in Miami
MIAMI GARDENS, Fla. (AP) — Colombia’s soccer federation president and his son were among 27 people arrested during the crowd control issues that broke out at the Copa America final between Argentina and Colombia, a melee that may have caused …
Global Cyber Outage Grounds Flights, Hits Banks, Telecoms, Media
A software update wreaked havoc on computer systems globally on Friday, grounding flights, forcing some broadcasters off air and hitting services from banking to healthcare. An update to a product offered by global cyberscurity firm CrowdStrike appeared to be the …
Allstate Reports Second Quarter Pretax Catastrophe Losses of $2.1B
Allstate Corp. said it recorded pretax catastrophe losses of about $2.1 billion in the second quarter. The Northbrook, Illinois-based insurer on July 18 said the total included $230 million of pretax catastrophe losses for the month of June from 18 …
Rain Helps First Responders Contain Forest Fire at New Jersey Military Base
BASS RIVER, N.J. (AP) — Heavy rain overnight helped firefighters gain more control over a forest fire burning at a military bombing range in southern New Jersey. Fire officials said Wednesday that half an inch (1.3 centimeters) of rain fell …
Angola to Sell Stakes in Biggest Insurer, Standard Bank Unit
Angola will sell stakes in its largest insurer and in the local unit of Standard Bank Group Ltd. this year, as the oil-producing nation moves ahead with a privatization program to raise cash and diversify the economy. The disposal of …
Two Oil Tankers Are Ablaze East of Singapore, Rescue Underway
Two oil tankers have been on fire since early Friday morning to the east of Singapore, according to a statement from the country’s Maritime and Port Authority. Hafnia Nile, a Singapore-flagged refined-products tanker, and Ceres I, a crude oil tanker …
Severe Storms Pummel Large Swath of U.S.
LITTLE ROCK, Ark. (AP) — Another wave of severe storms pummeled a wide swath of the United States and Canada leading to flash floods and water rescues Wednesday in the Ozark Mountains, dropping a tornado that ravaged a community in …