INSURANCE NEWS
Allianz Sponsors Catastrophe Bond for European Windstorm Risks
Allianz has sponsored a new catastrophe bond which will provide the group with multi-year risk transfer capacity of €250 million to protect itself against European windstorms. Allianz entered into a three-year reinsurance agreement with Blue Sky Re DAC, a special …
A&E Loss Payouts on the Rise; Reserves Will Run Off in 8 Years
A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022. AM Best maintains its estimate for net asbestos losses at $100 billion and environmental losses at $46 billion as of …
Automakers Oppose NHTSA Bid to Force Recall of 52 Million Air Bag Inflators
Major automakers including General Motors, Toyota Motor and Volkswagen and two air bag makers said on Tuesday they oppose the U.S. auto safety regulator’s bid to require the recall of 52 million air bag inflators. Officials with the U.S. National …
Gas Eyed as Source of South Florida House Explosion that Injured 4
WEST PARK, Fla. (AP) — Four people were injured in an explosion early Tuesday that severely damaged a Florida house, authorities said. Investigators were focused on gas as the possible cause. The Broward Sheriff`s Office said in an email the …
UK to Sign Deal Boosting City of London’s Post-Brexit Ties to Switzerland
The UK and Switzerland will sign an agreement around financial services on Thursday, a post-Brexit accord to deepen ties between their respective financial centers. Chancellor of the Exchequer Jeremy Hunt will visit Bern to sign it, according to people familiar …
Hawaii Governor’s First Budget After Maui Wildfire Includes Funds for Recovery and Fire Prevention
Hawaii Gov. Josh Green said he was requesting $425 million from lawmakers during the next fiscal year to help Maui recover from August’s wildfires, and millions more to reduce the risk of wildfires statewide. The proposed budget is Green`s first …
Bird Global, Which Started the Scooter Craze, Files for Bankruptcy in Florida
(Bloomberg) — Bird Global Inc., the company that put electric scooters onto the sidewalks of major cities, has filed for Chapter 11 bankruptcy protection in Southern Florida. The Miami-based company listed assets and liabilities of between $100 million and $500 …
Large Fire Burns 2nd Residential Construction Site in 3 Days In Denver Suburb
Firefighters in the Denver metro area responded to the second large fire at an Aurora construction site in three days. Officials have not yet determined the cause for either fire and have not suggested that they were related, but both …
Lawsuits Claiming Tylenol Causes Autism Lack Scientific Support, Judge Finds
A judge has barred expert witnesses from testifying that Johnson & Johnson spin-off Kenvue’s painkiller Tylenol can cause autism if mothers take it during pregnancy, finding that they failed to support their conclusions with scientific evidence. The ruling on Monday …
Parkland Deputy’s Legal Team Says He had No Duty to Confront Gunman
FORT LAUDERDALE, Fla. (AP) — A former Florida sheriff`s deputy is claiming he had no legal duty to confront the gunman who murdered 17 people and wounded 17 others at Parkland`s Marjory Stoneman Douglas High School nearly six years ago, …
The Most Listened Insuring Cyber Podcast Episodes of 2023
From AI chatbots and insurance to tech burnout in the workplace to managing cybersecurity in e-commerce, Insuring Cyber Podcast listeners were all ears this year as the cyber landscape continued to evolve and impact insurance in new ways. These are …
Death Toll Climbs in China’s Worst Earthquake in Nearly a Decade
The death toll from China’s worst earthquake since 2014 rose to more than 130 as the government sent a top official to oversee recovery efforts. Some 113 people were killed in mostly rural areas of Gansu province and another 18 …