INSURANCE NEWS

Markets/Coverages: WTW Launches Global D&O Excess Facility Called ‘A-Star’

Insurance broker WTW announced the launch of “A-Star,” an excess layer D&O insurance solution for directors and officers. The new facility provides access to up to £/$/€ 80,000,000 additional capacity for directors & officers liability insurance, ensuring comprehensive protection for …
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Port Operator DP World Chips Away at Freight Backlog After Crippling Cyber Attack

DP World Plc is slowly working through a backlog of more than 20,000 freight containers piled up at Australian ports following a crippling cyberattack, as labor strikes impede a return to normal operations. DP World, one of the world’s largest …
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Travelers Webinar Focuses on Connecting Gen Z, Independent Agents

Members of Generation Z who have worked with insurance agents believe they are knowledgeable and help them make better choices. Nevertheless, Gen Z is under-tapped in the independent agent channel and over-indexes on direct writers. During a recent Travelers Institute …
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Banks, Insurers May Escape EU’s Toughest ESG Regulation So Far

Banks, asset managers and other financial firms have won a reprieve from Europe’s most consequential ESG regulation to date, as a wave of intense industry lobbying pays off. Spain, which holds the European Union’s rotating presidency, has proposed that financial …
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Piercing Through Rain, Smoke and Fog: How Radar Satellites See Catastrophes

Executive Summary: The potential for satellite technology to revolutionize claims management has long been recognized but has only recently been realized with technological advancements. Satellite-based data can give the insurer a “head start” on the event, according to Stephen Lathrope …
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Federal Court Splits North Carolina Hurricane Insurance Claims

A North Carolina investment firm and its property insurer have each won partial victories in a dispute over hurricane insurance claims that has been in court since 2019. A federal district court judge for Eastern North Carolina dismissed the insured’s …
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Dash Cams in Fleet Vehicles are Key to Avoiding Nuclear Verdicts, Risk Managers Say

ORLANDO, Fla. — Cameras. One showing the driver and another facing forward. Those can be the keys to avoiding nuclear verdicts after auto and truck crashes, especially for companies with fleets of vehicles and relatively inexperienced drivers, two Crum & …
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California Funeral Home Stored Bodies for 4 Years, Deceived Families, Prosecutors Say

The owners of a Colorado funeral home were arrested Wednesday in Oklahoma on charges linked to the discovery of 190 sets of decaying remains at one of their facilities, including some that apparently had been languishing there for four years. …
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Washington Commissioner Issues $607K on Fines for Violations

Washington Insurance Commissioner Mike Kreidler issued fines in October totaling $607,613.35 against insurance companies and insurance producers that reportedly violated state insurance laws and regulations. Following are the alleged violators and a breakdown of their reported fines: Insurance companies AIG …
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Fraternity and Bar Sued Over 2021 Death of University of New Hampshire Student

liquor liabilityThe mother of a University of New Hampshire student who died in an icy swamp two years ago filed a wrongful death lawsuit Thursday against the Durham bar and fraternity her son visited that night. Vincenzo Lirosi, 22, was …
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Specialty Program Group Acquires Illinois’ Insurance Allies

Specialty Program Group LLC (SPG), an operator of specialty insurance brokerages and underwriting facilities, announced that it has acquired the assets of Insurance Allies LLC (Insurance Allies), an industry leader in the axe throwing and sports and entertainment industry operating …
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Kansas Judicial Branch Slowly Restoring Court Information Amid Ongoing Ransomware Investigation

TOPEKA, Kan. (AP) – Nearly a month after a “security incident” with all the hallmarks of a ransomware attack, Kansas judicial officials are slowly renewing public access to court information. But for now, that access requires a trip to the …
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