INSURANCE NEWS
Europe Automakers Will Not Challenge 2035 Fossil-Fuel Car Ban, Industry Group Says
Europe’s automakers will not challenge the European Union’s decision to effectively ban fossil-fuel vehicles as of 2035 no matter who wins this year’s European parliamentary elections, the head of the continent’s auto industry group said on Monday. Speaking at a …
Damaged Subsea Cable in Red Sea Highlights Telecom Vulnerability
A subsea cable off the coast of Yemen that connects Europe to India has been damaged, and the telecommunications carrier that owns it must now figure out how to make underwater repairs in a war zone. Seacom Ltd., the South …
Tesla to Fix Software in 8,700 vehicles in China Product Recall, Regulator Says
China’s market regulator said on Friday that Tesla Inc. would fix software in 8,700 vehicles to reduce the chance of accidents. The action involving 1,071 imported Model S and Model X and 7,629 China-produced Model 3 is described as a …
FTC Sues to Block Kroger’s $24.6 Billion Albertsons Deal
The US Federal Trade Commission, eight states and Washington DC sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. Monday, arguing the tie-up would lead to lower wages for workers and higher prices for groceries. In a complaint …
People Moves: Heaton Named Chief Operating Officer of Markel Group
Markel Group Inc., headquartered in Glen Allen, Virginia, named Mike Heaton as executive vice president and chief operating officer. Heaton most recently served as executive vice president at Markel Group. From 2016 to 2022, he served as president of Markel …
Lockbit Cybercrime Gang Says It Is Back Online Following Global Police Bust
Lockbit, the cybercrime gang that was knocked offline by a comprehensive international police operation earlier this month, says it has restored its servers and is back in business. The group, notorious on the internet’s criminal underground for using malicious software …
MGM Resorts Says Regulators Probing September Cyberattack
MGM Resorts International disclosed that state and federal regulators were probing a cyberattack on its systems that took place in September and caused a $100 million hit to the company’s third-quarter results. The casino operator intends to respond to the …
Company Linked to MMA Law Firm Still Paid by Florida; Case Highlights Issue with AOBs
The continuing saga of the Houston-based plaintiffs’ law firm of McClenny Moseley & Associates, suspended and sanctioned for flooding courts with erroneous lawsuits against property insurers in Louisiana, has taken a new political twist in recent days. It also has …
Investigators Fault Pittsburgh for Poor Inspection, Maintenance of Bridge That Collapsed
The city of Pittsburgh did not adequately maintain or repair a bridge and failed to act on inspection reports, leading to the corrosion of the structure’s steel legs and its collapse into a ravine, federal investigators said Wednesday. The city-owned …
US Pharmacy Outage Triggered by ‘Blackcat’ Ransomware at UnitedHealth Unit: Sources
Hackers working for the ‘Blackcat’ ransomware gang are behind the outage at UnitedHealth’s technology unit that has snarled prescription deliveries for six days, two people familiar with the matter told Reuters on Monday. The problems began last week after hackers …
Signers National Acquires Texas’ Affiliated Insurance Agents
Signers National a group of insurance companies dedicated to servicing key client segments across the United States, announced the acquisition of Affiliated Insurance Agents. Affiliated Insurance Agents is an independent agency based in Houston and focused on comprehensive, competitive insurance …
State Farm Sues Norfolk Southern Over Ohio Train Derailment Damages
State Farm Insurance brought forth a subrogation lawsuit last week against Norfolk Southern over damages to a pair of East Palestine, Ohio homes allegedly caused by the railroad company’s February 2023 train derailment. State Farm filed a complaint in Columbiana …