INSURANCE NEWS
Dollar General Again Caught in OSHA’s Crosshairs; Retailer’s Fines Top $21M in 6 Years
Federal workplace safety inspectors at two Tampa-area Dollar General stores said they found the company again exposing employees to fire hazards and other unsafe conditions, continuing the long history of disregard for worker safety by one of the nation’s largest …
Understanding the Domino Effect of Cyber Accumulation Risk
While technology is continuing to evolve and provide many benefits to insurers and their customers, one concern is that growing connectivity and dependence on technology means a single cyber event could simultaneously impact a large number of businesses. This is …
Twitter Again Sued Over Severance Pay, Bias During Layoffs
Twitter Inc. on Tuesday was hit with the second lawsuit this month to claim that it owes at least $500 million in severance pay to ex-workers, the latest in a series of cases arising from Elon Musk’s acquisition of the …
Bain Capital Raises $1.15B for Its First Fund Dedicated to Insurance Investments
Bain Capital has raised $1.15 billion for its first fund dedicated to investing in the insurance industry, as the private equity firm aims to create and invest in companies in the sector, a senior executive told Reuters. The fund exceeded …
Digital Asset Insurer Evertas Acquires Bitsure, Crypto Mining Insurance Specialist
Evertas, the Chicago-based dedicated crypto insurance company, announced the acquisition of Bitsure, the world’s first insurer dedicated to coverage for crypto mining operations. Launched in 2021, Cape Town, South Africa-based Bitsure bound its first mining policy in June of 2022, …
Judge Dismisses Lawsuit Against Police by Mississippi Woman Hit by Stray Bullet
A federal judge has dismissed a lawsuit filed by a Mississippi woman who says she was hit by a stray police bullet while lying in bed. Latasha Smith, 49, was in bed on Dec. 11 when an officer from the …
Utility Investors Wary of Exposures After Buffet’s PacifiCorp Held Liable for Wildfires
Destructive wildfires are now an almost routine part of summer in the American West, and electrical utilities have likewise become used to having their power lines and equipment blamed for igniting the blazes. But a jury verdict last month ordering …
Ukraine Plea to Keep Grain Moving Clashes With Reality Facing Insurers, Shippers
Ukraine is pushing for grain exports to continue from key ports following Russia’s withdrawal from the Black Sea grain deal. Insurers and shippers aren’t so sure. Russia’s termination of the pact this week means that it will no longer guarantee …
Australia’s Fortescue Hit by Cyber Attack That Disclosed Some Network Data
Fortescue Metals Group Ltd. said it had been subject to a cyber attack that resulted in “the disclosure of a small portion of data from our networks.” The world’s fourth-largest iron ore exporter described the attack as “a low impact …
US Auto Safety Regulators Open Special Probe Into Fatal Tesla Crash
U.S. auto safety regulators are opening a special crash investigation into a fatal accident in California involving a 2018 Tesla Model 3 suspected of relying on advanced driver assistance systems, the government agency said on Tuesday. The National Highway Traffic …
UK’s Post-Brexit Access to EU Financial Markets Still Unclear, EU Official Says
It is too early to tell if Britain’s financial rules post-Brexit will diverge too far from European Union norms to consider giving it access to the bloc’s markets, a senior EU official said on Tuesday. Paulina Dejmek Hack, a director …
ALKEME Acquires Kansas’ Wiggins Farha, Ohio’s The Milestone Company
ALKEME recently acquired a pair of Midwestern agencies. ALKEME announced the acquisition of Wiggins Farha Insurance Group,a full-service insurance agency operating out of Wichita, Kansas. Wiggans Farha Insurance Group is an independent insurance agency serving the state of Kansas and …