INSURANCE NEWS
Russian Hackers Claim Cyberattack on Spanish Defense Company
Santa Barbara Systems, a General Dynamics subsidiary in Spain that is refurbishing Leopard tanks for delivery to Ukraine, suffered a cyberattack on its website, a pro-Russia hacker group said. A spokesperson for General Dynamics confirmed that the defense contractor’s Spanish …
5th Circuit: Louisiana Law Voids Arbitration Clause in Surplus Lines Policies
A panel of the 5th Circuit Court of Appeals ruled this week that a Louisiana statute voids the formation of an arbitration clause in a surplus lines insurance contract. In its opinion, the appellate court reasoned that the general principles …
Insurers to Build Private Credit Exposure in Coming Years: Moody’s
Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to a new report by Moody’s Ratings. In a survey this week of the world’s largest insurers, Moody’s found that nearly …
UK Court Decides Aircraft Disputes to Be Heard in Ukraine, not London
A legal battle between insurers and aircraft leasing companies over jets stuck in Ukraine should be heard in Ukraine rather than London, the High Court in London ruled on Thursday. Aircraft lessors, including Ireland’s AerCap, are pursuing insurers after Russia’s …
Report Shows Increase in Total EV Loss Claims
A new report shows a jump in total loss frequency for both electric and newer internal combustion engine automobiles. Mitchell this week released its Q1 2024 trends report: Plugged-In: EV Collision Insights. The report shows EV total loss frequency has …
World Meteorological Organization: 80% Chance Annual Average Global Temps Exceed 1.5°C
A new study on adoption of behaviors that reduce personal carbon emissions in 37 countries and territories classified as “high-emissions” shows that daily household behaviors are far more common than higher-cost, infrequent behaviors. Lower-cost, daily behaviors to reduce carbon emissions …
Student Pilot’s Solo Cross-Country Flight Crashed In Connecticut Campground
PLYMOUTH, Conn. (AP) — A student pilot was attempting a solo cross-country flight before crashing into a Connecticut campground, according to a federal aviation report released Tuesday. The 1968, fixed-wing, single-engine Cessna 172 aircraft had “sputtered” and “quit” on Monday, …
Environmental Groups Looking to Sue Colorado Refinery for 1K-plus Pollution Violations
Environmental groups took the first step to sue the owner of an oil refinery near Denver for years of pollution violations, saying that state regulators haven’t done enough to hold the owner accountable. The refinery owned by Suncor Energy sits …
Ex-Prosecutor Settles Defamation Suit Against Netflix Over Central Park Five Series
Former Manhattan prosecutor Linda Fairstein and Netflix announced Tuesday they’ve settled the defamation lawsuit she filed four years ago over her portrayal in the streaming service’s miniseries about the five Black and Latino teenagers known as the now-exonerated Central Park …
California City Awarded Grant to study Insurance Protections from Sea Level Rise
A California city has been awarded a grant to study insurance protections from sea level rise. The City of Imperial Beach received an $848,000 grant to develop flooding adaptation strategies to help prepare residents for coastal flooding expected to intensify …
Tornadoes Touch Down Across US, Killing toddler in Michigan and Injuring 5 in Maryland
LIVONIA, Mich. (AP) — A tornado killed a 2-year-old boy and injured his mother Wednesday when a tree fell on their house in suburban Detroit, while emergency workers in Maryland were responding to reports of collapsed structures with people trapped …
Green Bay Packers’ Jordan Love Named American Family Insurance Brand Ambassador
American Family Insurance announced today Jordan Love, Green Bay Packers quarterback, has signed on as the company’s newest brand ambassador. Jordan becomes the latest addition to this group of fearless dreamers, who will continue the company’s strategy of promoting and …