INSURANCE NEWS

Banks, Insurers Targeted as Climate Group Seeks EU Review of Deforestation Rule

Climate activists are putting pressure on the European Union to reconsider its decision to exclude banks from a landmark deforestation rule, in a move designed to preempt an official review of the regulation next year. UK-based nonprofit Global Canopy says …
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Southern Water Fined for Sewage Spill That Killed 2,000 Fish in England

Southern Water was fined £330,000 on Tuesday after admitting a raw sewage spill that killed thousands of fish on the edge of England’s South Downs National Park. Southern, which supplies more than 4.6 million people in England, acknowledged that sewage …
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UK Has More ‘Fragile Firms’ Than EU Peers: Allianz Report

The UK has the highest proportion of “fragile firms” out of all major European economies, another sign of the headwinds facing Prime Minister Rishi Sunak as he attempts to boost growth. About 15% of small and medium-sized enterprises in the …
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Wildfires Forces Texas Panhandle Residents to Shelter in Place

Officials have ordered nearly 5,000 residents in the Panhandle cities of Canadian, Fritch and Glazier to shelter in place Tuesday as four separate wildfires engulfed the region, burning more than 280,000 acres. Residents in Hemphill County, where Canadian is, were …
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Change Healthcare Cyberattack Is Still Disrupting Pharmacies, Other Providers

A cyberattack that has disrupted Change Healthcare’s computer networks for nearly a week is creating a growing administrative problem for pharmacies and health-care providers around the nation. Change Healthcare, a division of UnitedHealth Group Inc., processes insurance claims and pharmacy …
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OpenAI Says New York Times ‘Hacked’ ChatGPT to Build Copyright Lawsuit

OpenAI has asked a federal judge to dismiss parts of the New York Times’ copyright lawsuit against it, arguing that the newspaper “hacked” its chatbot ChatGPT and other artificial-intelligence systems to generate misleading evidence for the case. OpenAI said in …
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Markets/Coverages: Legal & Contingency Launches EV Charging Site Insurance for England and Wales

Legal & Contingency Ltd. (L&C), the London-based MGA that specializes in underwriting legal indemnities and title risks, announced the launch of an insurance policy which will cover the installation of electric vehicle charging points in England and Wales. The “Electric …
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People Moves: Alabama, NC DOIs Name Two to Key Positions

Two state insurance departments have named new people to high-level positions. North Carolina Insurance Commissioner Mike Causey this week announced that Amy Funderburk, a longtime attorney for a number of state government agencies and a credit union, will take over …
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People Moves: Markel’s Colosimo Joins CRC; Risk Strategies Consulting Names Piltch

CRC Group, headquartered in Birmingham, Alabama, hired Vince Colosimo as executive vice president in the company’s New York City downtown office. Colosimo will assume the role of office president in mid-2025, with current Office President Fred Curatolo taking on a …
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People Moves: Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO; Marsh Names Fort From McGill and Partners as Int’l Cyber Product Leader

This edition of International People Moves details appointments at the brokers Price Forbes and Marsh. A summary of these new hires follows here. Ardonagh’s Price Forbes Taps Horler From Lockton as Deputy CEO Sarah Horler has been appointed as Price …
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Family Dollar to Pay $41M Fine Over Rodent-Infested Distribution Center

Family Dollar agreed this week to pay $41.7 million for holding food, drugs, medical devices, and cosmetics under insanitary conditions at company’s West Memphis, Arkansas, distribution center. A criminal information unveiled Feb. 26 in federal court in Little Rock, Arkansas, …
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Iowa Meat Processing Plant Accused of Illegally Hiring Children

DES MOINES, Iowa (AP) — U.S. authorities have accused another sanitation company of illegally hiring at least two dozen children to clean dangerous meat processing facilities, the latest example of illegal child labor that officials say is increasingly common. The …
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