INSURANCE NEWS
1 Dead, 15 Injured After SUV Traveling Wrong Way Collides With Bus in Chicago
CHICAGO (AP) – An SUV traveling the wrong way along a Chicago lakefront road collided with a city bus Sunday morning, killing one of the SUV`s passengers and injuring 15 other people, authorities said. A man was driving a Dodge …
Former VW Executives Ordered to Testify in Investor Lawsuit
A German court will call former Volkswagen AG executives as witnesses in a €9 billion ($9.8 billion) investor lawsuit over the diesel emissions scandal to find out what the top brass knew about the the so-called defeat device used in …
What’s Next for Ant Group After its Nearly $1B Fine?
The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s …
UK Pension Funds Back Next Phase of Post-Brexit Shakeup in City of London
Aviva, Legal & General and seven other pension firms intend to invest 50 billion pounds ($64 billion) in unlisted companies by 2030 to help the City of London remain a competitive global finance center after Brexit, finance minister Jeremy Hunt …
Insurance Claims From French Riots Rise to $716 Million
Some 11,300 claims for damages from riots in France had been filed as of July 7 for a total cost of €650 million ($716 million), the insurers federation said in a statement Tuesday. The number of claims has doubled compared …
Russia-Linked Oil Tanker Fleet Vanishes Even Faster Than It Grew
A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its petroleum to buyers around …
Markets/Coverages: Zurich Launches Cyber for Middle Market
Zurich North America introduced a cyber insurance offering designed specifically for middle market businesses. The Zurich Cyber Insurance Policy Concierge Suite includes not only cyber Insurance coverage but also loss-prevention and resilience services such as a breach coach and a …
Rising ‘Anti-ESG’ Sentiment in US Is Impacting Funds, HSBC Says
The backlash against investing strategies that factor in environmental, social and governance issues is rising in the US and is impacting the way managers are thinking about integrating such considerations into their funds, according to a survey by HSBC Holdings …
Automated Weather Insurance Could Offer Help in an Increasingly Hot World
Carlos José Báez experienced the full brunt of Hurricane Maria when it made landfall in Puerto Rico as a catastrophic storm in 2017. The auto paint shop owner, who lives in Aguas Buenas, Puerto Rico, saw his home badly damaged …
Florida Insurers Show a Little Profit in 2023 But Two Join the Watch List
Florida’s beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller underwriting losses than in recent years, according to state regulators’ latest market stability report. …
NSM Acquires Shield Commercial Insurance Services in California
NSM Insurance Group acquired Shield Commercial Insurance Services in Palm Desert, California. Shield specializes in insurance solutions for the general contractor and construction liability space. Shield is focused on underwriting business for small and mid-sized contractors, offering coverages for general …
Truck Makers Complying with California Rules Phasing Out Gas-Powered Vehicles
Some of the nation`s largest truck makers pledged to stop selling new gas-powered vehicles in California by the middle of the next decade, part of an agreement with state regulators aimed at preventing lawsuits that threatened to delay or block …