INSURANCE NEWS
SpaceX Paid Her $92K While Men Got $115K Suit in California Says
SpaceX was accused in a lawsuit of discrimination for allegedly paying women and minority employees less than their male and White co-workers. The proposed class action, which cites California’s Equal Pay Act, was filed in Los Angeles Superior Court by …
Georgia Power to Pay $413M to Settle Lawsuit over Nuke Plant Cost Overruns
ATLANTA (AP) — Georgia Power Co. will pay $413 million to settle a lawsuit accusing the utility of reneging on financial promises to one of its nuclear reactor partners. The payments to Oglethorpe Power Corp., announced Friday, could hold down …
Amtrak Train Crash into Car in Vermont Kills Driver, Injures Passenger
An Amtrak passenger train crashed into an SUV in southeastern Vermont, killing the SUV`s driver and injuring his passenger, authorities said. The state police said 53-year-old Craig Hudson, of Brattleboro, died in the crash Friday in Vernon, a town of …
Truist in Talks to Sell Insurance Business for $10 Billion: Report
Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor reported on Monday, citing people familiar with the matter. The potential deal would be the latest …
New Jersey Attorney General Opens Inquiry Into Fatal Crash Involving Nadine Menendez
The New Jersey attorney general’s office has opened an inquiry into how local law enforcement handled an investigation into a fatal car crash that involved the then-future wife of U.S. Sen. Robert Menendez, according to a law enforcement official familiar …
New Hampshire Helicopter Crash That Took Pilot’s Life Is Under Investigation
A helicopter crashed in the woods shortly after taking off in Croydon, New Hampshire, killing the pilot, the only person on board, authorities said. The craft was reported as missing for at least several hours. The helicopter had taken off …
People Moves: Gallagher Re Taps RenRe’s Allard as Head of Global Credit & Political Risk; Sompo Int’l Names Heads of Claims, Distribution & Client Relationship Mgmt
This edition of International People Moves details appointments at Gallagher Re and Sompo International. A summary of these new hires follow here. Gallagher Re Taps RenRe’s Allard to Lead Global Credit & Political Risk Global reinsurance broker Gallagher Re has …
Markets/Coverages: Irish MGA iSure Launches Professional Indemnity Facility
iSure, the specialist SME managing general agent in Ireland, part of the re/insurance MGA Rokstone, has announced the launch of a professional Indemnity (PI) facility with a €2 million primary and a €3 million excess of loss limit. Drawing on …
Odey Asset Management to Shut Wealth Business in Wake of Sexual Assault Allegations Against Founder
Odey Asset Management is closing its wealth business, the UK’s Financial Conduct Authority said, months after its founder Crispin Odey was accused of sexual misconduct. “We will work closely with the firm as it winds down, to ensure clients are …
Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
Budgets and insurance policy costs have increased exponentially despite doubts surrounding efficacy of cyber practices, according to a recent survey gauging cybersecurity practices among global debt issuers conducted by Moody’s Investors Service. Increased C-suite focus on cyber risk has led …
Hacked Philippine Health Insurer Didn’t Have Cyber Protection Software
The Philippines’ state health insurer didn’t have cyber protection software when hackers attacked its computers, giving criminals access to the data of millions of its citizens and triggering calls for an extensive cybersecurity audit. While the full extent of the …
Middle-Market Companies Report Performance Improvements
New data from Chubb and the National Center for the Middle Market shows nearly 75% of middle-market companies report an improvement in overall performance compared to last year — a record high statistic shared in the insurer’s biannual Middle Market …