INSURANCE NEWS
Brink’s Sues Air Canada After $17 Million Heist of Gold and Cash
An unsolved $17 million heist of Swiss gold and cash near Canada’s busiest airport has led Brink’s Co. to sue Air Canada for allegedly letting a thief slip away with the loot. Miami-based Brink’s accused the airline of “negligence and …
SEC Probes Twitter Security Lapse Before Elon Musk Took Over
The Securities and Exchange Commission is investigating how Twitter Inc. managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year. The agency has been scrutinizing whether the former top …
Key to Proactive Cyber Security Is Management of Third-Party Vendor Risks
The hack of the MOVEit file transfer platform, developed by Progress Software and used by businesses of all sizes, serves as a reminder of the potential vulnerabilities faced by third party vendors. In this June 2023 hack, attackers exploited a …
Despite Lower Premium Volume, U.S. Title Insurers Continue to Post Solid Results
The U.S. title insurance industry saw its volume of net premium written decline by 16.1% in 2022, to approximately $20.9 billion, following a decade of growth during which this level had more than doubled, according to a new AM Best …
Airlines Face Israel Insurance Alert in Wake of Weekend Attacks
Governments and airlines scrambled to lay on flights to evacuate thousands of tourists from Israel and repatriate the country’s citizens, as the industry faced a warning over insurance cover in the wake of weekend attacks. Israeli flag carrier El Al …
Businesses in Vermont`s Flood-Damaged Capital Rebuilding Slowly
Nearly three months after severe flooding inundated Vermont’s capital city, Montpelier businesses launched an event Friday to celebrate how much they`ve rebuilt — and remind the public not to forget them as they struggle to make a complete comeback. The …
Internet Companies Report Biggest-Ever Denial of Service Operation
Internet companies Google, Amazon and Cloudflare say they have weathered the internet’s largest-known denial of service attack and are sounding the alarm over a new technique they warn could easily cause widespread disruption. Alphabet Inc-owned Google said in a blog …
AIG Makes Leadership Promotions for ‘Next Phase of Profitable Growth’
American International Group (AIG) on Oct. 11 announced three significant appointments within its executive leadership team. David McElroy, currently chief executive officer of General Insurance, will assume a newly created role of chairman, General Insurance. AIG said McElroy will focus …
Mother of Teen Found Dead in Illinois Hotel Freezer Reaches Settlement in Lawsuit
CHICAGO (AP) – The mother of a 19-year-old Chicago woman who was found dead in 2017 in a freezer at a suburban hotel where she had attended a party has reached a settlement in her lawsuit against the hotel and …
How Alleged Florida Theft Ring Led to Pastor’s ‘Anointed Liquidator’ eBay Account
A St. Petersburg pastor and head of a drug recovery program, along with his wife, mother and others, is awaiting trial after authorities say he ran a theft ring that stole tools from Home Depot and sold them on eBay …
Q3 Commercial, Personal Rates Moderate: MarketScout
Third quarter 2023 commercial insurance rates remained up, but about 3.7% compared to up about 5% during the second quarter. According to MarketScout’s Market Barometer, the composite rate for all U.S. lines of commercial insurance business moderated except for business …
23andMe Faces Class Action Lawsuit Following Data Breach
In a move that has come to be expected following most cyberattacks, two victims of the recent 23andMe data breach have filed a class action lawsuit. The suit, filed in U.S. District Court for the Northern District of California alleges …