INSURANCE NEWS
Shaw Appointed CEO of Tokio Marine Kiln, Succeeding Irick
Specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew Shaw as CEO, with effect from April 1, subject to regulatory approval. Shaw will succeed Brad Irick who is taking up the position of co-head of international business for …
US and Allies Kick Russian Hackers Off Home Routers, FBI Says
The US and its allies have disrupted access by a Russian-state sponsored hacking organization to “well over a thousand home and small business routers” used for criminal and intelligence purposes, FBI Director Christopher Wray said on Thursday. Speaking at the …
Over 350 People Contact Law Firm Reviewing FDIC Workplace Culture
More than 350 people have contacted an outside law firm reviewing workplace culture at the U.S. Federal Deposit Insurance Corporation in the wake of media reporting last year on allegations of persistent sexual harassment, top agency officials said on Thursday. …
Hackers Exploit Ad Tools to Track Victims, Boosting Scam Efforts
Cybercriminals are using advertising tools to make their scams as “clickable” as possible. In a new kind of email phishing tactic, hackers are sending malicious PDF attachments containing a link that’s registered through an advertising network, security researchers from HP …
Palomar Insurance in Alabama Names Messer VP; Carofin Elevates Clifford
Palomar Insurance Corp., based in Montgomery, Alabama, announced that Shon Messer has joined the company’s Birmingham office as vice president. Messer, who spent 16 years at DSD Insurance, an Acrisure agency partner, and 11 years with Allstate before that, will …
Symphony Risk in California Launches Captive Program for Cannabis Industry
Symphony Grow is launching a bespoke captive insurance program for large and sophisticated cannabis businesses called “Symphony Grow Captive.” The “Symphony Grow Captive” risk financing tool provides a breadth of benefits not commonly afforded to cannabis businesses due to the …
Illinois Construction Contractor Fined $264K for Safety Violations
An Illinois construction contractor – with a history of ignoring federal safety regulations – has again been found exposing workers to deadly fall hazards on a jobsite in Naperville. Inspectors with the U.S. Department of Labor’s Occupational Safety and Health …
Police Investigate How Texas Church Shooter Obtained Rifle Despite Mental Illness
HOUSTON (AP) — The shooter who opened fire at a Houston megachurch before being gunned down by security officers used an AR-style rifle that police say she legally purchased despite a years-long criminal record, a history of mental illness and …
Vehicle Crashes Into Austin, Texas Emergency Room, Killing 1
AUSTIN, Texas (AP) — A car crashed into a Texas hospital’s emergency room Tuesday, killing the driver and injuring five other people, including a child with life-threatening injuries, authorities said. The car smashed into the lobby of the ER at …
Allstate Reports $276M in January Cat Losses, Updates Rate Increases
Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low totals. Consolidated catastrophe losses for the fourth quarter 2023 totaled …
Texas Housekeeping Provider to Pay $520K Over Disability Discrimination Suit
Hospital Housekeeping Systems, LLC (HHS), a provider of housekeeping, food and facilities support to numerous industries, based in Dripping Springs, Texas, will pay $520,000 as part of the settlement of a disability discrimination lawsuit brought by the U.S. Equal Employment …
Despite Deepfake and Bias Risks, AI Is Still Useful in Finance, Firms Told
A bank uses biased artificial intelligence outputs in a mortgage lending decision. An insurance firm’s AI produces racially homogeneous advertising images. Users of an AI system complain about a bad experience. These are just a few of the potential risks …