INSURANCE NEWS
Ukraine’s Top Mobile Network Operator Hit by Biggest Cyber Attack of War to Date
Ukraine’s biggest mobile network operator, Kyivstar, was hit on Tuesday by what appeared to be the biggest cyber attack of the war with Russia so far, knocking out mobile and internet services for millions. Kyivstar has 24.3 million mobile subscribers …
Real Estate Titans Battle DeSantis Over China Property Crackdown
(Bloomberg) — Ron DeSantis rattled corporate America by making Walt Disney Co. a target of his conservative culture wars. Now, the Florida governor’s campaignto rid the state of Chinese influence is fueling a forceful backlash from big-name investors. A group …
Residents Cleaning up After Deadly Tennessee Storms
NASHVILLE, Tenn. (AP) — Residents of central Tennessee communities slammed by deadly tornadoes this weekend described tragic and terrifying scenes in which one mobile home landed on top of another, roofs were ripped from houses and an entire church collapsed …
Police in Massachusetts Town Move Quickly, Recover 16 Stolen Vehicles in 36 Hours
Auburn, Massachusetts police report they recovered 16 cars within 36 hours of them being stolen from a local auto rental business. Three Boston men have been charged with receiving a stolen motor vehicle and other charges. All of the vehicles …
Maryland’s Workers’ Compensation Bars Non-Dependent Child’s Wrongful Death Claim
A non-dependent adult child whose father died on the job does not have a right to bring a wrongful death claim against her late father’s employer, the Maryland Appellate Court has ruled. The appeals court affirmed a circuit court that …
Musk Can’t Escape Investor Suit Over Flip-Flop on Twitter Buyout
Elon Musk must face a Twitter investor lawsuit that accuses him of fueling uncertainty about his proposed buyout in an effort to drive down the social media platform’s stock price, a California federal judge ruled. US District Judge Charles Breyer …
Markets/Coverages: MGA Optio and Insurer Partner AmFirst to Offer Political Violence & Terrorism Cover
Optio Group, the London-based specialty managing general agent (MGA), announced it has entered into an agreement with a new insurer partner to provide underwriting capacity for political violence and terrorism (PVT) risks. The partner company – AmFirst Insurance Co. (AmFirst) …
Houthi Militants Hit Fuel Tanker With Missile in Vital Red Sea Trade Artery
A fuel tanker was struck by missile as it navigated the Red Sea, the latest in a string of incidents that have turned the area where the attack took place into the world’s riskiest waters. The vessel’s owner said the …
Tech Update: Hiscox London Mkt, Google Collaborate to Boost Underwriting With AI
Hiscox, the specialist global insurer, has collaborated with Google Cloud to create the first AI-enhanced lead underwriting model in the London market insurance industry. The collaboration combines Hiscox London Market’s recently built technology platform, Hiscox AI Laboratories (Hailo) with Google …
Typhoon That Hit China’s Ports Provides Wakeup Call for Climate Risk to Markets
As Typhoon Doksuri aimed toward mainland China, major southeast ports were forced to turn away dozens of vessels for days. The storm, supercharged by the warm July waters of the Pacific, delivered Beijing’s worst flooding in more than 50 years, …
Apple-Backed Study Finds Rise in Data Breaches as iPhone Maker Defends Encryption
In the first nine months of 2023, U.S. data breaches increased by 20% compared to the full year 2022, according to a new study that was commissioned by Apple. The iPhone maker paid for the study, which was conducted by …
Bernie Madoff Is Long Gone. The Lawyers Are Going Strong
Long before cryptocurrency and Sam Bankman-Fried, the biggest name in corporate fraud was Bernie Madoff. Fifteen years after the FBI arrested Madoff on Dec. 11, 2008 for running a massive Ponzi scheme — and two years after his death in …