INSURANCE NEWS
More Than 600 Firefighters, Water-Dropping Planes Struggle to Control Greece Wildfires
More than 600 firefighters, including reinforcements from several European countries and backed by a fleet of water-dropping planes and helicopters, were battling three major wildfires in Greece Sunday, two of which have been raging for days. A massive blaze in …
Cyber Startup Wiz Is Weighing Potential Bid for SentinelOne
Closely held cloud cybersecurity company Wiz Inc. is considering a potential bid for SentinelOne Inc. in what would represent a rare move by a startup to buy a large listed company. Wiz spokesperson Tamar Harel said on Friday that the …
Alabama Supreme Court Says Work on New Coastal Bridge Can Resume
The Alabama Supreme Court ruled Friday that the state can continue work on a new bridge that will give motorists an alternate route to state beaches. Justices reversed an injunction issued by a Montgomery judge that had halted work on …
US Workers Exposed to Extreme Heat Have No Consistent Protection
Santos Brizuela spent more than two decades laboring outdoors, persisting despite a bout of heatstroke while cutting sugarcane in Mexico and chronic laryngitis from repeated exposure to the hot sun while on various other jobs. But last summer, while on …
Man Kills Three in Racially Motivated Shooting at Jacksonville Store
A masked white man carrying at least one weapon bearing a swastika fatally shot three Black people inside a Florida store Saturday in an attack with a clear motive of racial hatred, officials said. The shooting in a Dollar General …
Florida Braces for Another One as Idalia Strengthens in Gulf
Insureds and insurers across much of Florida began bracing for the impact of another major hurricane as Tropical Storm Idalia was expected to strengthen and make landfall by Wednesday afternoon. Florida Gov. Ron DeSantis declared a state of emergency for …
Broken Satellite Risks Big Claim in Shrinking Insurance Market
Viasat Inc. has more than $1 billion of orbiting satellites in trouble, and space insurers are girding for market-rattling claims. The company’s roughly $1 billion ViaSat-3 Americas satellite, central to expanding its fixed-broadband coverage and fending off rivals including Elon …
Historic Rhode Island Hotel Damaged in Blaze to Be Torn Down; Cause Under Investigation
The historic Rhode Island hotel ravaged by a fire last weekend is a total loss that will be torn down, authorities said Wednesday. The Harborside Inn on Block Island was severely damaged in a blaze that started late last Friday …
Employee Impersonators Scam $2M from Pennsylvania Banks’ Customers, Officials Say
A theft ring stole nearly $2 million from bank customers in central Pennsylvania in an elaborate scheme in which the scammers, posing as bank employees, tricked people into giving up their account information, the attorney general`s office said Friday. The …
Kansas’ MutualAid eXchange (MAX) Declared Insolvent, Placed into Liquidation
The District Court of Shawnee County, Kansas has declared MutualAid eXchange (MAX) insolvent, and the company has been placed into liquidation pursuant to a petition filed by the Commissioner of Insurance. The court ruled MAX to be insolvent on August …
AM Best Revises Outlook to Positive for Texas’ Skyward Specialty
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- (Excellent) of Great Midwest Insurance Company, Houston Specialty Insurance Company, Oklahoma Specialty Insurance …
Ukraine Says Second Ship to Sail From Odesa Reaches Romania
A Liberian-flagged bulk carrier that was the second ship to sail from Odesa since Russia quit the Black Sea safe-transit deal has reached Romanian waters, said President Volodymyr Zelenskiy. The Singapore-operated Primus successfully navigated the temporary Black Sea corridor set …