INSURANCE NEWS
Kentucky Launches $5 Million Roof Grant Program
Kentucky, far inland from where most hurricanes land but a place all too familiar with high winds and hail, has become the latest state to offer grants for stronger roofs. Gov. Andy Beshear announced this week that the Strengthen Kentucky …
Judge Weighs If Penn Must Produce Jewish Employees’ Records for Antisemitism Probe
The federal government’s demand for information about the membership of Jewish groups from the University of Pennsylvania in an investigation into whether antisemitism has created a hostile environment for employees landed Tuesday before a federal judge who will decide whether …
Only 3 in 10 Americans Review Insurance Annually, Says Big I Survey
Though people understand the importance and value of insurance, a policy is only something they think about when something goes wrong. According to a new survey from the Independent Insurance Agents & Brokers of America (the Big I), nine of …
Delivery Service Company Faces Allegations of Pregnancy Discrimination in Louisiana
The U.S. Equal Employment Opportunity Commission (EEOC) filed an action in federal court to enforce a subpoena issued during its investigation into allegations against JamRock Solutions LLC. JamRock Solutions is an Amazon delivery service partner, and a charge received by …
Markets/Coverages: Coalition Provides Expended Cyber Protection in Canada
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it is offering expanded cyber cover in Canada. Coalition said its “Active Cyber Policy” expands protection for Canadian organizations facing faster-moving ransomware attacks, AI-enabled fraud, and growing regulatory …
Iran’s New Supreme Leader Vows to Keep Hormuz Shut, Netanyahu Issues Threat
Iran will fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel, new Supreme Leader Mojtaba Khamenei said on Thursday in defiant first comments attributed to him since he succeeded his slain father. …
Satellite Firm ICEYE Targets €1 Billion Revenue Next Year
Finnish satellite intelligence company ICEYE Oy is on track to grow revenue to more than €1 billion ($1.2 billion) next year as a raft of government orders allows it to ramp up production. Revenue last year exceeded €250 million, more …
Canadian Telecom Telus Says It’s Investigating Cyber Breach
Canadian telecommunications provider Telus Corp. said it’s investigating a cybersecurity incident. The breach involves “unauthorized access to a limited number of our systems,” a spokesperson for Telus Digital said by email. “Upon discovery, we took immediate steps to address the …
Top Africa Insurer Sanlam Flags ‘Massive’ Risks From Iran War
Sanlam Ltd. sounded the alarm about the impact of a protracted war in the Middle East, with Africa’s biggest insurer saying the conflict could have a “massive” impact on its performance. The escalating tensions will hurt earnings of the firm …
AM Best Upgrades Credit Ratings for Members of CapSpecialty
AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa-” (Superior) from “a+” (Excellent) of Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation, both of Middleton, Wisconsin, and Platte …
Prices for New Cars Have Soared. Here’s One Big Reason Why
The U.S. car business is grappling with a stubborn affordability problem, one that threatens to relegate more Americans to the used-car lot and leave automakers vulnerable to lower-priced rivals. Lawmakers have framed the issue around partisan lines. U.S. President Donald …
People Moves: Anders Joins Alliant Insurance Services’ Employee Benefits Group
Reed Anders joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president within its employee benefits group. Based in Chicago, Illinois, Anders has led cross-functional teams across finance, accounting, HR, compliance, IT, and operations. He began his career …