INSURANCE NEWS
Origami Risk Acquires Illinois’ Dais Technology
Origami Risk announced it has acquired Chicago, Illinois-based Dais Technology, a provider of no-code insurance technology. The acquisition increases Dais’ market reach and client support capabilities and expands Origami’s innovative suite of property and casualty insurance solutions for managing general …
Drought and Low Mississippi River Levels Pose Challenges for Midwest Farmers’ Crop Transportation
DES MOINES, Iowa (AP) – A long stretch of hot, dry weather has left the Mississippi River so low that barge companies are reducing their loads just as Midwest farmers are preparing to harvest crops and send tons of corn …
Louisiana Prisoner Suit Claims They’re Forced to Endure Dangerous Conditions at Prison Farm
BATON ROUGE, La. (AP) – Men incarcerated at Louisiana State Penitentiary filed a class-action lawsuit Saturday, contending they have been forced to work in the prison’s fields for little or no pay, even when temperatures soar past 100 degrees. They …
Louisiana, 9 Other States Ask Federal Judge to Block Increases in National Flood Insurance Program
NEW ORLEANS (AP) – Increases in federal flood insurance premiums that are projected to surpass 700% over the coming years are already leading people to back out of home purchases and will likely lead to an exodus of residents and …
AM Best Revises US Homeowners Insurance Segment to Negative as Losses Persist
The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance costs. These market headwinds have led AM Best to revise …
Child Dead, Others Sickened from Opioid Exposure at NY Day Care Center
NEW YORK (AP) — A 2-year-old boy at a home-based day care center in New York City who showed symptoms of opioid exposure died and three other young children were hospitalized, authorities said. Police responded to a 911 call on …
California Suit Says Oil Giants Deceived Public on Climate, Seeks Funds for Storm Damage
The state of California filed a lawsuit against some of the world’s largest oil and gas companies, claiming they deceived the public about the risks of fossil fuels now faulted for climate change-related storms and wildfires that caused billions of …
NC City Denies Christmas Parade Permit After Girl’s Death Last Year
RALEIGH, N.C. (AP) — Officials in North Carolina have denied a permit for a Christmas parade after a truck towing a float struck and killed a girl during last year’s event. The city of Raleigh announced Thursday that it denied …
Storm Lee Brings High Winds, Waves and Rain to New England
BAR HARBOR, Maine (AP) — Atlantic storm Lee made landfall at near-hurricane strength Saturday, bringing destructive winds, rough surf and torrential rains to New England and Maritime Canada. But officials withdrew some warnings for the region and predicted the storm …
Zurich and KPMG Collaborate to Provide Climate Change Advisory Services
Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance Group (Zurich), and the professional services firm KPMG have formed a strategic collaboration to offer advisory services to address physical and transition risks, respectively, associated with climate …
Clorox’s First-Quarter Results Could See ‘Material Impact’ From Cyber Attack
Pine-Sol maker Clorox said on Monday its first-quarter results could see a “material impact” from a cybersecurity attack last month that damaged portions of its IT infrastructure and caused widescale disruption to its operations. The household staples maker said on …
Blockchain Analysts Suspect N. Korea-Linked Hackers Behind $70M Crypto Theft
Blockchain researchers say North Korea-linked hackers are likely behind a $70 million theft from crypto exchange CoinEx. CoinEx, which says it is based in Hong Kong, said on Tuesday on social media platform X, formerly known as Twitter, that wallets …