INSURANCE NEWS
What Caused Closure of Toyota’s 14 Assembly Plants in Japan?
Toyota Motor was ramping back production at its Japan-based factories on Wednesday after a computer system processing orders for vehicle parts broke down on Tuesday, forcing the closure of 14 assembly plants. The disruption shut down a system that is …
Super Typhoon Saola Lashes Taiwan Before Heading to Hong Kong
Super Typhoon Saola pummeled the south of Taiwan early Wednesday with strong winds and heavy rain, shutting offices and canceling some flights before heading to Hong Kong. Authorities in Taiwan, where no typhoon has made landfall since 2019, closed offices …
People Moves: Starr Names Chen CEO of Starr Singapore; Arch Re Announces 4 Executive Promotions; Fidelis MGU Boosts Underwriting Team With 6 Promotions
This edition of International People Moves details appointments at Starr Insurance, Arch Reinsurance and Fidelis MGU. A summary of these new hires follows here. Starr Names Chen CEO of Starr Singapore Starr Insurance announced that Sean Chen, a 14-year member …
Dutch Insurer NN Says Extreme Weather May Make Further Premium Hikes Unavoidable
Dutch insurer NN Group NV may increase premiums further as extreme weather patterns become more prevalent, Chief Executive Officer David Knibbe said. While NN benefited from benign weather conditions in the first half of the year, the July storm in …
UK’s Direct Line Group Names Aviva’s Winslow as Group Chief Executive Officer
UK insurer Direct Line Group announced that Adam Winslow has been appointed as chief executive officer, subject to regulatory approval. It is expected that he will take up the role in the first quarter of 2024, succeeding Jon Greenwood who …
Car Premiums to Rise Again as British Insurers Feel the Heat
Motorists in Britain should brace for another year of steep insurance rises as providers confront cost pressures, industry figures have warned. Admiral Group Plc will continue increasing motor insurance prices and expects the rest of the market to follow suit, …
People Moves: Cover Genius Names Rudow Chief Financial Officer
Cover Genius Names Rudow Chief Financial Officer Cover Genius, headquartered in Mumbai, India, appointed David Rudow as its new chief financial officer (CFO). Rudow has over 18 years of experience and previously served as CFO of the cloud-based technology company …
Tesla Faces More Questions From Feds on Autopilot Safety
The U.S. auto safety regulator investigating Tesla’s Autopilot driver assistance system is demanding an explanation for a software change that allows drivers to keep their hands off the wheel for longer, risking collisions, documents released on Tuesday showed. The National …
Lufthansa Weighs Sale of Aviation Insurance Broker, Insurer: Sources
Deutsche Lufthansa AG, the German airline, is looking to sell its insurance brokerage unit Albatros and insurance business Delvag, according to people familiar with the matter. The country’s largest carrier is working with advisers to find a buyer for the …
Parents of Maine Teen Who Died on School Hiking Trip File Suit
The parents of a 17-year-old Maine boy who died on a school-sponsored hiking and camping trip are suing the school district and two staff members. The lawsuit contends Michael Strecker had limited access to water while hiking and that his …
Maine Police Say Driver on Drugs Swerved Off Road, Hit 4 Troopers
A motorist who veered off a highway and struck four state troopers was charged with operating under the influence of drugs, officials said Monday, as two of the troopers remained hospitalized. Three troopers and a trooper-in-training were at the end …
Hawaii Power Utility Takes Responsibility for First Fire on Maui, But Faults County Firefighters
Hawaii’s electric utility acknowledged its power lines started a wildfire on Maui but faulted county firefighters for declaring the blaze contained and leaving the scene, only to have a second wildfire break out nearby and become the deadliest in the …