INSURANCE NEWS
Generali Is Seeking Buyers for Turkey, Philippines Units: Sources
Assicurazioni Generali SpA is seeking to sell its units in Turkey and the Philippines, people with knowledge of the matter said. The Italian insurer has kicked off separate processes to dispose of its small Istanbul-based Generali Sigorta AS subsidiary and …
UK Hospital Hackers Claim to Publish Stolen NHS Data
The cyber criminals taking credit for the hack on London hospitals earlier this month have published what they claim is stolen data from the attack. England’s National Health Service said in a statement Friday it was aware that the data …
Details of Aviation Lessor Settlements With Russia Over Trapped Planes
Aircraft leasing firms have struck settlements with Russia totalling around $2.7 billion for over a quarter of the roughly 400 aircraft stuck in the country since Moscow’s invasion of Ukraine in 2022. In return, international lessors handed ownership of the …
Activist Report Shows More Insurers Making Climate-Related Disclosures
A new report from a climate activist group portrays a “mixed picture of progress and persistent challenges” in the insurance sector in addressing climate-related risks, with some insurers successfully integrating climate-related risks and others leaving “significant gaps and disparities.” The …
New Drivers and Electric-Vehicle Tech Bring New Risks to Auto Insurance Market
High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond, according to the 2024 U.S Auto Insurance Trends Report …
A Good Year May Not Be a Good Thing in D&O Liability Market, Says AM Best
The U.S. directors and officer segment in 2023 recorded a direct loss ratio of 50.8—the best result in nearly a decade—but industry rating agency AM Best is not convinced the good times will last. In a special report on U.S. …
Exclusion Does Not Exclude Coverage for Condo in Nashville Christmas Bombing
The insurance fallout from the Christmas Day 2020 bombing in downtown Nashville continues, with a federal court deciding this week that Aspen Specialty Insurance must cover millions in replacement costs for a heavily damaged condominium building. The insurer in 2021 …
Bridge Collapse Attorneys for Baltimore Want to Keep Dali Crew From Returning Home
Attorneys are asking a federal judge to prevent crew members on the cargo ship Dali from returning to their home countries amid ongoing investigations into the circumstances leading up to the deadly collapse of the Francis Scott Key Bridge in …
Growing Wildfires in New Mexico Destroyed 1,400 Structures
A pair of wildfires in New Mexico continue to rage uncontained, destroying an estimated 1,400 structures, forcing the evacuation of more than 8,000 people, while rains also flooded parts of the state. The Salt and South Fork fires have burned …
Chicago Health Care Company to Pay $2M To Settle False Claims Act Suit
A Chicago health care company and its former owners will pay nearly $2 million to the United States and the States of Illinois and Indiana to resolve a civil lawsuit arising from the submission of false claims to Medicare and …
Texas Electricity Demand Could Nearly Double in Six Years – ERCOT
The state’s main electric grid operator has sharply increased its prediction for how much power demand will increase in coming years. If it’s accurate, the state would need to be able to provide nearly double the amount of power within …
Heat Wave Sweeps Across Midwest and Northeast, Bringing Safety Measures
TOLEDO, Ohio (AP) — Stifling heat blanketed tens of millions across United States on Tuesday, forcing people and even zoo animals to find ways to cool down as summer arrives in what promises to be a sweltering week. Extreme heat …