INSURANCE NEWS
Minnesota Vikings Rookie Said Dog Emergency Led to Ticket for Going 140 MPH
ST. PAUL, Minn. (AP) – Minnesota Vikings first-round draft pick Jordan Addison told the state trooper who clocked him going 140 mph in a 55 mph zone last week that he was speeding because of an emergency involving his dog. …
SEC Set to Adopt New Cyber Rule, Unveils Brokerage AI Proposal
Wall Street’s top regulator on Wednesday was poised to adopt new rules requiring publicly traded companies to disclose hacking incidents, a measure officials said was being taken to help the investing public contend with the mounting cost and frequency of …
Insurance Technology: Embroker Partners with Dashlane and Cowbell; Betterview and EagleView Launch Property Intelligence Alliance
Embroker announced a partnership with password-management provider Dashlane and cyber insurer Cowbell to increase customer security and expand cyber liability coverage. “Through Cowbell and Dashlane, we are not only able to support our customers in the event of a cyber …
Brown & Brown Q2 Earnings Beat Expectations
Florida-based Brown & Brown Inc. (BRO), a global insurance broker, reported second-quarter earnings of $190.4 million. The Daytona Beach company said it had profit of 67 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to …
Atlanta Suburb Government Lost $785,000 in Email Scam
An Atlanta suburb is trying to recover nearly $800,000 that it lost in an email scam. The losses became public knowledge after they were discussed in an audit report presented at a Thursday meeting Employees sent a total of $1,219,287, …
Risk Strategies Acquires Castle Rock Capacity in New York
National specialty insurance broker Risk Strategies has acquired Castle Rock Capacity, a property/casualty insurance broker with a specialty in the construction, real estate and development industries. Headquartered in New York City, Castle Rock was co-founded in 2006 by Jon Lipton, …
Pelican Ventures Invests in Nsure.com
Digital insurance agency Nsure.com said today it secured a strategic investment from insurance-focused fund Pelican Ventures, a private firm founded by Renaissance Re founder Jim Stanard and TigerRisk founder Rod Fox. Fox has agreed to join Nsure’s advisory board. The …
Starbucks Illegally Fired Manhattan Supervisor Over Union Activities, Labor Judge Rules
Starbucks violated U.S. labor law by firing a Manhattan store supervisor who had organized workers to join a union, a federal labor board judge ruled on Monday. The National Labor Relations Board established “striking and strong evidence of animus” behind …
New Jersey High Court to Hear Insurers’ Appeal Over War Exclusion in NotPetya Attack
The New Jersey Supreme Court has agreed to decide whether a hostile/warlike action exclusion in an all risks property insurance policy applies in a case involving insurance coverage for a 2017 Russian cyberattack. The state’s high court will hear an …
Airlines Face Doubling in War Insurance Premiums After Sudan Losses: Sources
Airlines could end up paying twice as much for insurance they need to protect themselves against losses triggered by war after a bruising year wiped out aviation war insurers’ revenue for 2023, industry sources say. Aircraft were destroyed at Khartoum …
Markets/Coverages: New Lloyd’s Syndicate Provides E&S Cover for Calif. Wildfire Risks
Wildfire Defense Systems Inc., Polo Managing Agency Ltd. (PMA) and Aon, announced Lloyd’s has approved the launch of Wildfire Defense Syndicate 1996, which started underwriting on July 1, 2023. Created under Lloyd’s “Syndicate-in-a-Box” program, Wildfire Defense Syndicate 1996 will focus …
Human-Induced Climate Change Plays ‘Overwhelming’ Role in July Heatwaves: Scientists
Human-induced climate change has played an “absolutely overwhelming” role in the extreme heatwaves that have swept across North America, Europe and China this month, according to an assessment by scientists published on Tuesday. Throughout July, extreme weather has caused havoc …