INSURANCE NEWS
Climate Tech Firm to Pilot Fast-Paying Flood Insurance in Africa
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallholder farmers are …
Taiwan Military Says Hackers Sold Telecom Giant’s Data on Web
Taiwan’s military said hackers sold data stolen from the island’s biggest telecom company on the internet, the latest challenge to the democratically run island’s cybersecurity. The leaked documents that related to the military didn’t contain confidential information, the Defense Ministry …
Job Cuts, Fleeing Investors: How Anti-DEI Lawsuits Take a Toll on Targets
Elizabeth Gore is fighting for survival. Just six months ago, the founder of financial technology startup Hello Alice was getting ready to close an investment round to grow its business offering grants and networking opportunities to entrepreneurs from underrepresented groups. …
Drugmaker Endo Reaches $465M Bankruptcy Settlement With US
Bankrupt drugmaker Endo International will pay up to $465 million to settle the federal government’s law enforcement, tax, and healthcare cost claims, the U.S. Department of Justice said on Thursday. The settlement removes Endo’s largest obstacle to completing its plan …
UnitedHealth Says ‘Blackcat’ Group Behind Recent Hack
UnitedHealth Group said on Thursday the recent cyberattack at its tech unit, Change Healthcare, was perpetrated by hackers who identified themselves as the “Blackcat” ransomware group. The statement confirms a Reuters report on Monday. UnitedHealth had initially blamed a “suspected …
Sierra Club Testing Finds High Levels of ‘Forever’ Chemicals in Water in NE Tennessee
High levels of “forever chemicals,” including poly-fluoroalkyl, or PFAS compounds, have been found in northeastern Tennessee rivers and drinking water supplies, likely from wastewater sludge that is spread on farms as fertilizer, the Sierra Club’s Tennessee Chapter said in a …
Maryland Expects $238M From Opioid Makers and Pharmacies
Maryland Attorney General Anthony G. Brown reported that his Opioids Enforcement Unit has finalized settlements with Teva, Allergan, Walmart, and Walgreens, after multi-year investigations of these opioids-makers’ or chain pharmacies’ involvement in the opioid crisis in the state. The settlements …
Woman Gets 5-10 Years for Scamming Family Dollar, Restaurant on Workers’ Compensation
A Delaware woman will serve 5 to 10 years in state prison for a workers’ compensation scam that spanned 2½ years, two states, and cost a Pennsylvania employer more than $170,000, according to Pennsylvania Attorney General Michelle Henry. Victoria Newell-Brown, …
People Moves: Alliant Hires Ross to Bay Area Brokerage Team
Alliant Insurance Services hired Frank Ross as vice president within its Alliant Americas division. Ross joins Alliant with a property/casualty insurance background encompassing risk management, cyber liability, and executive liability. Before joining Alliant, he was senior vice president at USI …
People Moves: Braverman and Bill join Lockton Lawyers Professional Liability Practice
Lockton, headquartered in the Kansas City metropolitan area, named Eric Braverman and Eric Bill to its lawyers professional liability practice. Both are based in Chicago. Braverman joins as senior vice president, professional services practice leader. He brings 20 years of …
Insurers Offer Tips for Residents to Navigate Texas Wildfires
The Smokehouse Creek Fire has grown to more than 1 million acres in the Texas Panhandle, making it the second-largest wildfire in state history. The fire is 3% contained as of Thursday morning according to officials with the Texas A&M …
RT Specialty Adds Cyber Liability to its Proprietary Digital Platform
RT Specialty, the wholesale distribution division of Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, announced addition of Cyber Liability to its proprietary digital platform, RT Connector. RT Connector allows retail insurance agents to access multiple lines of …