INSURANCE NEWS
Avalanches Kill Skier, Snowmobiler as Dangerous Snow Conditions Persist Across West
A backcountry skier and a snowmobiler were killed in separate avalanches in the Rocky Mountains as dangerous snow conditions persist across much of the West. The skier was buried Sunday in an area locally known as “The Playground” near Crested …
Markets/Coverages: Marsh’s D&O Facility Provides Up to $75M of Capacity
Insurance broker Marsh announced that its D&O Echo facility is now offering clients with enhanced directors and officers insurance protection, in order to provide greater financial stability amid continued volatile market conditions and fluctuating insurance rates. Available to Marsh clients …
College Board to Pay Penalty and Stop Monetizing New York Students’ Data
College Board, which administers standard educational tests that are used as part of college admissions, has agreed to a $750,000 settlement with New York state for violating students’ privacy and unlawfully selling their personal data. As a result of the …
In SW Florida, High Home Insurance Rates Are Driving Away Would-Be Buyers
(Bloomberg) — Florida’s southwestern coast — long one of America’s fastest-growing regions — is losing some of its boomtown swagger as a home-insurance crisis and other soaring costs make homes unaffordable. Homeowners from Sarasota south to Naples, known for its …
Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%
The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines office release by the Wholesale & Specialty Insurance Association (WSIA). 2023 premiums reflected a 14.6% …
US Seizes 747 Cargo Plane that Iran Sold to Venezuelan Firm, Plans to ‘Dispose’ of it
WASHINGTON (AP) — The U.S. government has seized a Boeing 747 cargo plane that officials say was previously sold by a sanctioned Iranian airline to a state-owned Venezuelan firm in violation of American export control laws. The Justice Department said …
Kentucky Attorney General Sues Kroger Alleging Role in Opioid Crisis
FRANKFORT, Ky. (AP) — Kentucky Attorney General Russell Coleman filed a lawsuit Monday against one of the nation’s largest grocery chains, claiming its pharmacies helped fuel the state’s deadly opioid addiction crisis. The lawsuit against the Kroger Co. says its …
Columbia University Sued by Jewish Student Over Campus Antisemitism
Columbia University was sued by a Jewish graduate student who claims the campus experienced an “explosion” of antisemitism since the Oct. 7 attack by Hamas on Israel. Mackenzie Forrest, 23, claims she faced discrimination because she’s an Orthodox Jew and …
Former VW Chief Tells Court He Didn’t Deceive Investors Over Dieselgate
Former Volkswagen chief executive Martin Winterkorn told a German court on Wednesday he did not deceive investors over the carmaker’s rigging of diesel engine emissions tests. It was the first time Winterkorn has spoken about the so-called dieselgate scandal in …
The Art of Managing Cyber Risk for Museums
Cyber attacks are a concern for many industries, and the museum sector is no exception. As more museums and cultural institutions are using technology to display digital works, manage internal documents, or store donor data, the risks are prevalent. “The …
Cyberattack Hits German Battery Maker Varta, Halts Production
German battery maker Varta AG was hit by a cyberattack Monday night that halted production in five of its production facilities, the company said. The company’s information technology systems “and thus also production were pro-actively temporarily shut down for security …
Brexit Red Tape Puts Valentine’s Day Thorn in UK Flower Trade
Giraffe Flowers in Manchester, northern England, is preparing for the annual Valentine’s Day rush but florists fear that Brexit trade barriers will increasingly spell higher costs and delays for their business. The company operates two shops in the center of …