INSURANCE NEWS
Kennedy Cousin Whose Murder Conviction Was Overturned Sues Cop, Connecticut Town
Kennedy cousin Michael Skakel, whose murder conviction in the 1970s killing of a teenager in Connecticut was overturned, is suing the lead police investigator in the case and the town of Greenwich for alleged malicious prosecution, civil rights violations and …
Medical Biller Charged With Stealing $1 Million in Workers’ Compensation Payments
New York Attorney General Letitia James announced the arrest and arraignment of a New Jersey man for allegedly stealing more than $1 million that was intended to be paid to doctors who provided medical care to injured workers covered under …
FTC Reaches Settlement With XCast Labs Over Illegal Robocalls
U.S. regulators and XCast Labs have agreed on a proposed settlement of charges that the company facilitated billions of illegal robocalls, the Federal Trade Commission (FTC) said on Tuesday. The FTC also ordered the Voice over Internet Protocol (VoIP) provider …
NFL Star Receiver’s House Catches Fire in Miami
Miami Dolphins wide receiver Tyreek Hill and his family were reported safe after a fire broke out in his Miami-area home Wednesday afternoon. The Associated Press, the New York Post and other news outlets reported that the fire scorched part …
Viewpoint: Scoring Cyber Insurance Predictions of 2023
Twelve months ago in a rush of blood to the head, I wrote this article with a selection of cyber insurance themes I thought were pertinent for 2023. In the spirit of transparency, I thought I should mark my own …
January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US
While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on retentions and prices, according to reinsurance brokers in comments about the …
BMS Finalizes Acquisition of UAE’s Berns Brett Masaood, Rebranded as BMS Masaood
BMS, the London-based specialist insurance and reinsurance broker, has completed its majority stake acquisition of Berns Brett Masaood (BBM), a leading UAE insurance broker established in 2007 and headquartered in Abu Dhabi and Dubai. Financial details of the transaction, first …
Howden Acquires Norwegian Broker Arctic Insurance AS
Howden, the London-based insurance group, announced the acquisition of Arctic Insurance AS, a fast-growing Norwegian insurance broker. Financial details of the deal were not disclosed. This acquisition reflects Howden’s ambition to enhance its presence in the Nordic region, by investing …
Russian Hackers Were Inside Ukraine Telecoms Giant for Months: Cyber Spy Chief
Russian hackers were inside Ukrainian telecoms giant Kyivstar’s system from at least May last year in a cyberattack that should serve as a “big warning” to the West, Ukraine’s cyber spy chief told Reuters. The hack, one of the most …
Allianz Seeks to Buy Back Europe’s Biggest Old-School Bond
Insurance giant Allianz SE is looking to replace the biggest bond remaining under Europe’s old regulatory regime as it taps the market for new issues early on this year. The Munich-based insurer priced a new €1 billion junior note on …
Japan Airlines Counts Losses From Wrecked Tokyo Plane
Japan Airlines on Thursday said it expected losses of more than $100 million after one of its planes was destroyed when it collided with another aircraft on the runway at Tokyo’s Haneda airport this week. All 379 people on board …
SpaceX Illegally Fired Workers Critical of Elon Musk, US Labor Agency Says
Rocket and satellite maker SpaceX on Wednesday was accused by a U.S. labor agency of unlawfully firing eight employees for circulating a letter calling founder and CEO Elon Musk a “distraction and embarrassment.” A regional official with the National Labor …