INSURANCE NEWS

Markets/Coverages: ANV Expands Transactional Risk Offering to the U.S.

Specialty risk insurance managing general agent ANV Global Services, Inc. said it has launched its transactional risk insurance (TRI) program in the United States. The new ANV unit will be led by Colin Addy and Greg Conroy, who previously held …
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EV Startup Fisker Files for Bankruptcy, Aims to Sell Assets

Fisker filed for bankruptcy protection late on Monday, as the U.S. electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs. …
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Stellantis Recalls Over 1 Million Vehicles For Rearview Camera Issue

Chrysler parent Stellantis is recalling 1.16 million vehicles in North America over a problem with software that is preventing rear view cameras from displaying, raising the risk of a crash, the automaker said Tuesday. The over-the-air software update recall includes …
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Vantage Group Chairman and Former Arch CEO Iordanou Dies

Constantine “Dinos” Iordanou, the chairman of Vantage Group Holdings and former chairman and chief executive officer of Arch Capital Group Ltd. has died. Described as “an industry legend,” as well as “a remarkable businessman, generous philanthropist, and devoted family man” …
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Greencore Recalls Sandwiches, Wraps, Salads Amid E. Coli Concern

Convenience foods manufacturer Greencore Group is recalling a variety of products because of concerns over possible contamination with E. coli. The recall involves various sandwiches, wraps and salads sold at major retailers including Aldi, Asda, Boots, Morrisons and Sainsbury’s, according …
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Potential Tropical Storm in Southern Gulf of Mexico Gathers Strength

Tropical storm watches have been posted along the Texas and Mexican coasts as a low-pressure system gathers strength in Bay of Campeche at the southern end of the Gulf of Mexico and threatens heavy rain across Central America, the US …
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Dredger That Hit Tanker Reported Sudden Loss of Control; Oil Spill Cleanup Ongoing

Singapore authorities said Monday a dredger boat reported a sudden loss in engine and steering control that led it to hit a stationary cargo tanker, causing an oil spill that has blackened part of the city-island’s southern shores. The Netherlands-flagged …
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More Than 800 Coal Plants Worldwide Could Be Profitably Decommissioned: Research

More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are scheduled …
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Top Shipping Flag Cuts Approval for Sanctioned Russian Insurer

The world’s largest shipping register withdrew its approval for Russia’s Ingosstrakh Insurance Co. to provide a key document enabling ships to enter ports. The Liberian Register — under whose flag 16% of the world’s ships by capacity sail — said …
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Supreme Court to Hear Nvidia Bid to Scuttle Shareholder Lawsuit

The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The …
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Thanks to AI, Industry will Soon See Big Jump in Parametric Insurance, Consultant Says

Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly to data-driven A.I. …
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J&J Talc Users Want Cancer Checks Even If It Cost Billions

Johnson & Johnson should be on the hook for potentially billions of dollars in medical fees for women who used its talc-based baby powders and want to monitor their future health over cancer fears, according to a lawsuit. Lawyers representing …
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