INSURANCE NEWS
Microsoft Warns Other Firms of Russian-Sponsored Group in Email Hacking
Microsoft Corp. said an account that was compromised by Russia-linked hackers, resulting in a hack of some company emails including senior leaders, didn’t have multifactor authentication enabled. The hackers “tailored their password spray attacks to a limited number of accounts, …
Markets/Coverages: Insurtech BOXX Partners With AXA to Offer Cyber Risk Mitigation for Small Businesses
BOXX Insurance, the Toronto-based cyber insurtech and managing general agent, has announced the launch of a cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small businesses. Recognizing the critical need for comprehensive protection against …
People Moves: Lezynski Joins Alliant Americas in New Jersey From USI
Michael Lezynski has joined Alliant Insurance Services, headquartered in Irvine, California, as executive vice president within the company’s Alliant Americas division. Based in Red Bank, New Jersey Lezynski will be responsible for growth and expansion in the New Jersey and …
Mississippi Lawmakers Approve Incentives for 2 Large Amazon Data Centers
JACKSON, Miss. (AP) — Mississippi lawmakers met in special session last week and quickly approved job training money and other state incentives to support a plan by Amazon Web Services to spend $10 billion to build two data centers in …
Former Prominent Georgia Labor Lawyer Who Shot Wife Sentenced to 8 Years
ATLANTA (AP) — A once-prominent labor and employment attorney who fatally shot his wife in 2016 as they rode in an SUV pleaded guilty to a charge of involuntary manslaughter and was sentenced to eight years in prison as part …
Generali to Return €500 Million to Investors in Share Buyback
Assicurazioni Generali SpA will return €500 million [$541.4 million] to shareholders, following acquisitions last year that are set to boost its non-life and asset management businesses. The share buyback plan will be submitted for shareholder approval in April and started …
Agency M&A Down 24% in 2023 but More Large Deals May Be Seen in 2024: OPTIS
There has been a somewhat return to normal when it comes to insurance-agency mergers and acquisitions, with traditionally active buyers preferring to remain inactive to focus on integration of agencies they’ve already acquired. According to the M&A database of investment …
EU Reinforces Tight Limits on Crypto Firms From Outside Bloc
Crypto companies based outside the EU will only be able to directly serve customers within the bloc under very limited conditions to avoid unfair competition, the European Securities and Markets Authority (ESMA) proposed on Monday. The EU approved the world’s …
Environmental Officials Working to Clean Up Fuel After Fiery Tanker Truck Crash in Ohio
MACEDONIA, Ohio (AP) — Environmental officials in Ohio were back on the scene Sunday of a fiery tanker truck crash, working to contain thousands of gallons (liters) of diesel fuel that spilled during the accident. The truck that crashed Saturday …
Banks, Insurers Set to Lose Reprieve From EU’s Toughest ESG Rule
Financial firms in the European Union look set to be hit by a new ESG requirement that they lobbied hard to avoid. The European Parliament and the European Council are moving toward an agreement that banks, asset managers and insurers …
NCCI: Wage Growth Likely to Continue Workers Comp Payroll Growth
Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …
Philips’ US Sales of Sleep Apnea Devices Face Years-Long Halt After FDA Deal
Dutch health technology company Philips will not sell new devices to treat sleep apnea in the U.S. in the coming years as it works to comply with a settlement with the Food and Drug Administration (FDA) announced on Monday. The …