INSURANCE NEWS
When Extreme Weather Hits, Smaller Farms Often Pay the Price
Justin Ralph estimates he`s made about 200 trips delivering grain from the fields he farms with his brother and uncle this year. They`re accustomed to using their four semi-trucks to take the harvest from a total of about 800 acres …
Supreme Court Won’t Hear Delaware’s Captive Insurance Documents Battle With IRS
The state of Delaware has lost its fight with the Internal Revenue Service (IRS) over the release of information on captive insurers, a fight the state took all the way to the Supreme Court. The Supreme Court on Monday declined …
Tesla Launched its Own Car Insurance. These Drivers Say it’s a Lemon.
In February, Mark Bova purchased a used 2018 Tesla Model S. Before leaving the dealer, he bought insurance from Tesla, finding the initial $93 monthly premium “really reasonable.” Sixteen days later, as he drove along the Capital Beltway to his …
Reinsurers’ Earnings Rise on Lower Disaster Losses, Improved Investment Results: Fitch
Lower natural catastrophe losses, a better investment result and strong revenue growth in property/casualty reinsurance led to strong earnings’ increases for the four main European reinsurers in the nine month-period of 2023, according to Fitch Ratings in a new report. …
DP World Attack ‘Stark Reminder’ About Prioritizing Cyber Spend: Australia Watchdog
Australia’s markets regulator wants companies and directors to prioritize cyber resilience, warning it will take action against businesses that fail to make reasonable investments to protect themselves. Australian Securities and Investments Commission Chair Joe Longo said this month’s cyberattack on …
Climate on Track to Warm by Nearly 5.2F Without Aggressive Actions: UN Report
Countries’ current emissions pledges to limit climate change would still put the world on track to warm by nearly 3 degrees Celsius this century, according to a United Nations analysis released Monday. The annual Emissions Gap report, which assesses countries’ …
Labour Meets With Banks, Insurers to Discuss Ways to Boost Infrastructure Investment
Britain’s opposition Labour Party met bank and insurance leaders on Monday to discuss ways to boost investment in infrastructure, as it continues a charm offensive with finance bosses ahead of an expected election next year that it is favored to …
Schools Look to Improve Cybersecurity, but Many Vulnerable to Ransomware
Some K-12 public schools are racing to improve protection against the threat of online attacks, but lax cybersecurity means thousands of others are vulnerable to ransomware gangs that can steal confidential data and disrupt operations. Since a White House conference …
US Is Seeking More than $4 Billion From Binance to End Case
The US Justice Department is seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed resolution of a years-long investigation into the world’s largest cryptocurrency exchange. Negotiations between the Justice Department and Binance include the possibility …
NHTSA Probes Hyundai, Kia Recall Into 6.4 million Vehicles Over Fire Risks
U.S. auto safety regulators on Monday said they had opened a probe into 16 separate recalls issued by Hyundai and Kia covering 6.4 million vehicles relating to brake fluid leaks that could result in fires. The affiliated Korean automakers have …
New York Law That Opened Window for 2,500 Sex Abuse Suits Is Expiring
For a year, a special New York law has cleared the way for a wave of headline-grabbing lawsuits against famous men accused of sexual misconduct, including former President Donald Trump, hip hop mogul Sean “Diddy” Combs and the comedian and …
Citigroup Managing Director Sues Over Sexual Harassment
Citigroup was sued on Monday by a managing director who said a former top equities banker subjected her to sexual harassment and abuse including death threats. Ardith Lindsey said the New York-based bank, her employer since 2007, downplayed her complaints …