INSURANCE NEWS
Markets/Coverages: Liberty Specialty Offers Security Advice for Political Risk Clients
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has introduced a new benefit for eligible political risk insurance policyholders: access to a one-off advisory consultation with Blackthorn Risk Group Ltd., a London-based independent security consultancy. Through this new …
Springfield to Reopen Schools Monday After Closing Them Due to Cyber Attack
Public school students in Springfield, Massachusetts have been told they can return to their schools on Monday, September 14 after the schools were closed on Tuesday due to a cyber incident. According to Mayor Domenic J. Sarno and school officials, …
Ryan Files Protest Over Clearinghouse Contract Awarded to Brown & Brown Firm
The months-long effort to put a Ryan Turner Specialty insurance unit in charge of a lucrative commercial policies clearinghouse in Florida may be far from over, after Ryan filed notice of intent to protest the awarding of the contract to …
Cleaning Crew Killed by Amazon Plane Was Wrapping up Shift at Demanding Job
Five members of a crew killed when an Amazon cargo jet smashed into their van were wrapping up their eight-hour shift cleaning planes at the Miami airport when they were struck, lawyers for one of the victims said on Wednesday. …
Federal Terrorism Insurance Backstop Prompted by 9/11 Still Waits for Reauthorization
Prior to September 2001, terrorism was covered by a standard commercial insurance policy. Either as a direct mention in the policy wording or by its omission, it was covered. But the attacks on 9/11 changed everything. Today, an insurance industry …
Northern California Braces for Power Shutoffs Amid Fire Risk
Nearly a dozen counties in Northern California face an elevated risk of power shutoffs this weekend as extreme heat and high winds boost wildfire conditions across the region. PG&E Corp., which serves more than 5.5 million electric customers in northern …
Japan’s Digital Agency Hit by Unauthorized Access to Servers
Japan’s Digital Agency said it suffered unauthorized access to its servers and personal data on about 246,000 people may have leaked. The agency detected access to a large volume of files on its Government Solution Service network using a maintenance …
Europe Struggles to Counter Russian Attacks Falling Short of War
A day after Germany blamed Russia for a failed drone attack on cargo planes at its Leipzig-Halle airport, European Commission President Ursula von der Leyen made a tacit admission that the continent was not responding quickly enough to the threat. …
At First NYC Firehouse to Respond on 9/11, Sal Argano Is Last Still on Staff
Sal Argano got lucky. When the World Trade Center was struck by hijacked jets on Sept. 11, 2001, the New York City firefighter was in Brooklyn, on loan to another station, rather than at his usual post at the small …
Allianz, Zurich Say They Have No ‘Material Exposure’ to Radiant
Insurers Allianz SE and Zurich Insurance Group AG, who had both written policies covering transactions tied to Radiant World, said they have no material exposure to the iron ore trader. Zurich had insured Radiant World against non-payment from counterparties including …
AI ‘Arms Race’ Still Poses Global Stability Risk, BIS Chief Says
The artificial intelligence boom remains a global financial stability danger that risks more damage than past crashes, the Bank for International Settlements chief said. Pablo Hernandez de Cos reiterated a warning delivered by his institution in June, observing that investors’ …
What Do We Remember About 9/11? Whom Do We Remember?
Where were you on September 11, 2001, when you heard that at 8:46 a.m. a hijacked American Airlines Flight 11 crashed into the North Tower of the World Trade Center (WTC) in Manhattan? And that minutes later hijackers crashed United …