INSURANCE NEWS

People Moves: Ardonagh Group Announces Senior Management and Structural Shakeup; QBE Promotes Purkis in Continental Europe Distribution Team

This edition of International People Moves details appointments at the broker Ardonagh and QBE Europe. A summary of these new hires follows here. Ardonagh Group Announces Senior Management and Structural Shakeup The Ardonagh Group, the London-based independent insurance distribution platform, …
Read More

Costs of Small Business Cyberattacks Are Down But Frequency Is Up, Says Hiscox

The less-than-encouraging news: Only a third (33%) of US small businesses consider cyber risk high or very high. The somewhat encouraging news: 53% of U.S. small businesses have either a standalone cyber insurance policy or have cyber coverage through another …
Read More

Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re

Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural catastrophe claims surpassing $100 million, according to Swiss Re Institute in a new report. As the US is particularly prone …
Read More

New Mexico Sues Meta, CEO Zuckerberg Over Child Protection Failures

New Mexico Attorney General Raul Torrez on Wednesday said the state sued Facebook and Instagram parent Meta Platforms META.O and CEO Mark Zuckerberg, saying the social media company had failed to protect children from sexual abuse, online solicitation, and human …
Read More

Markets/Coverages: Driver Technologies Launches Video Telematics-Based Driver Score

Driver Technologies, Inc., an AI-based mobility tech company, has announced its Driver Technologies Rating Service Inc. (DTRS) is rolling out its newly launched driver score to commercial fleets and insurance partners. In a press release, Driver Technologies said Driver Score …
Read More

Florida Family Sues Panera Bread Over Caffeinated Lemonade After Man’s Death

FLEMING ISLAND, Fla. (AP) –The family of a 46-year-old Florida man has filed a wrongful death and negligence lawsuit against one of the biggest fast-casual restaurant chains in the U.S., claiming Panera Bread Company`s caffeine-filled lemonade drink led to his …
Read More

UK Data Protection Watchdog Warns Companies Over AI Use and Privacy

Britain’s data protection watchdog warned companies to consider people’s privacy rights whenever they use artificial intelligence (AI) or face not just fines but losing the public’s trust in the technology. The country’s Information Commissioner, John Edwards, said at a speech …
Read More

Report: Kentucky Fund Made $239,000 in Erroneous Tornado Relief Payments

FRANKFORT, Ky. (AP) — A report released Tuesday by state officials on the disbursement of Kentucky`s tornado relief fund found that it sent out about $239, 000 in mistaken payments. The review of the fund by State Auditor Mike Harmon`s …
Read More

Family of Man Who Died Sues Tow Truck Driver They Said Sat on the Man’s Head

ATLANTA (AP) — The family of a Georgia church deacon who died after struggling with a police officer following a minor car crash has filed a wrongful death lawsuit against a tow truck driver they say arrived during the confrontation …
Read More

Airline Industry to Meet to Discuss Safety Concerns Around Spike in GPS Spoofing

Global aviation industry leaders will meet in January to discuss safety concerns around increased GPS interference by cyberattackers steering planes off course, an International Air Transport Association executive said on Wednesday. Global Positioning System (GPS) spoofing has spiked in recent …
Read More

AXA Weighs $1.1B Disposal of European Protection Insurance Businesses: Sources

AXA is considering selling some of its protection insurance businesses across Western Europe in a deal that could be worth up to 1 billion euros ($1.1 billion), two people close to the matter told Reuters. The French insurance group has …
Read More

UK Insurance Broker Ardonagh Weighs Refinancing $3.9 Billion Debt Pile

The Ardonagh Group is considering refinancing its entire debt stack to help finance more acquisitions, in a deal that would rank among the largest ever for private credit. The UK insurance broker is in talks with lenders about refinancing its …
Read More