INSURANCE NEWS
EU Court Sides With Car Service Firms in Data Fight With Sweden Truck Maker Scania
Swedish truck maker Scania must share car data, such as vehicle identification numbers, with repair shops and parts distributors, Europe’s top court said on Thursday in a ruling that could provide a boost for the latter looking to tap a …
Russia Flagship Carrier Aeroflot Says It Reached Settlement With Aircraft Leasing Firm
Russian flagship carrier Aeroflot said on Thursday it had clinched a settlement with leasing company BOC Aviation under which nine aircraft are to be handed over to Russian state insurance company NSK. A statement issued by Aeroflot said NSK would …
Freight Costs for Ships in Ukraine’s Export Corridor Ease Back to Former Levels
Freight costs for ships in Ukraine’s alternative export corridor have eased back to their former levels, a government source said on Friday, after brokers said earlier they had risen following an attack on a cargo vessel in the Black Sea …
Bank of England to Deepen System-Wide Stress Test for Banks, Insurers
The Bank of England said on Friday it would start the second leg to its first system-wide stress test of how banks, insurers, pension schemes and clearing houses collectively cope with shocks involving interest rates and risky asset prices over …
Former NFL Cornerback Among Six Killed in Crash in Downtown Houston
HOUSTON (AP) – A crash at a red light killed six people including former NFL cornerback D.J. Hayden in downtown Houston early Saturday. The two-vehicle crash occurred about 2 a.m. when a Chrysler 300, apparently “going very fast, high velocity,” …
Cyber ‘Catastrophe Bonds’ Move Step Closer to Hitting Public Debt Markets
Cyber catastrophe bonds may be about to move out of the shadows of private deal-making and into the public debt markets. So-called cat bonds, which farm out hard-to-insure risks to capital market investors in exchange for double-digit returns, have typically …
Ransomware Gang Lockbit Posts What It Says Is Boeing Data on Site
The notorious hacking gang Lockbit has posted what it described as documents belonging to Boeing Co. on its website, two weeks after claiming credit for a cyberattack against the aircraft manufacturer. LockBit recently posted the documents on the dark web …
Russia-Linked Hackers Claim Credit for OpenAI Outage
A hacking group linked to Russia claimed responsibility for attacks that periodically forced OpenAI’s ChatGPT offline last week, saying it targeted the company due to its support of Israel. The group, which calls itself Anonymous Sudan, said in a post …
Business Groups Sue Labor Board to Block Contract, Franchise Worker Rule
Several major U.S. business groups sued a federal labor board on Nov. 9, seeking to strike down a rule treating many companies as employers of contract and franchise workers and requiring them to bargain with their unions. The groups led …
WV High Court: Liability Coverage Due for Latent Disease, Even Years after Policy Dates
Liability insurers that write in West Virginia and beyond received some unsettling and expensive news from the state Supreme Court last week: Without iron-clad policy language barring coverage, long-tail illness claims must be covered and a carrier has a duty …
Maine’s Ending Limits on Child Sex Abuse Suits Is Unconstitutional, Church Tells Court
A lawyer for the Roman Catholic Diocese of Portland told supreme court justices Thursday that Maine’s elimination of time limits on child sex abuse lawsuits is unconstitutional and imposes new liabilities, a reference to costly lawsuits that have driven some …
Violations Against Washington Roofer Bring Fines to over $3.5M
A Snohomish, Washington roofing company fades more than $400,000 in fines for reportedly disregarding safety rules it has violated 60 times over the past four years. The Washington State Department of Labor & Industries opened an inspection of Allways Roofing …