INSURANCE NEWS
Rapid Shocks in Store for Insurers in New Bank of England Stress Tests
The Bank of England said on Tuesday it will check the health of general insurers in 2025 with a “stress test” that includes a rapid series of shocks, as sector capital rules are eased. Regulators have introduced stress tests since …
Alliant Names Griggs SVP of Americas Division, Based in Tennessee
Alliant Insurance Services, a major insurance distributor based in California, has named Mike Griggs senior vice president of its Americas division. Griggs, with almost 20 years in the insurance industry, will be based in Nashville and will manage property-casualty insurance …
Lawsuits Blame Utility for Washington Fire That Killed Man and Burned Hundreds of Homes
Two lawsuits have been filed against an electric utility for allegedly sparking a fire in eastern Washington that killed a man and burned approximately 240 homes. A lawsuit filed in Spokane County Superior Court says Inland Power and Light Company`s …
Bill Gates-Backed Florida Startup Aims to Turn Oil-Drilling Gas into Useful Methanol
(Bloomberg) — Semi trailer-sized machines could provide a unique solution to a major source of the fossil fuel industry’s methane problem. Rather than flaring or venting the planet-warming gas into the atmosphere, the machines can convert it into methanol, a …
Video Shows Officers Surrounding Bloodied Man During Florida Traffic Stop
JACKSONVILLE, Fla. (AP) — A traffic stop captured on video by a bystander shows a handcuffed Black man with swollen eyes and a bloody face sitting on the ground surrounded by officers outside a vehicle in northeast Florida, and the …
Nooses Found at Construction Site Lead to Lawsuit Against Amazon, Contractors
Five Black and Hispanic electricians who felt threatened when several nooses were found at an Amazon warehouse construction site in Connecticut have filed a federal civil rights lawsuit against the company and two contractors, accusing them of inaction, retaliation and …
Georgia Group Launches Ad Campaign Pushing Kemp’s Tort Reform
ATLANTA (AP) — A political group linked to Georgia Gov. Brian Kemp says it is launching an ad campaign backing the Republican`s efforts to make it harder for people to file lawsuits and win big legal judgments. The group, called …
Supreme Court Spurns Copyright Fight Over Concert Recordings
The U.S. Supreme Court on Monday declined to hear a bid by Sony Music, Warner Music and other music publishers to hold the owner of Wolfgang’s Vault directly liable for copyright infringement for recordings by rock greats such as the …
People Moves: BHSI Promotes Meyer to Head of Product Liability, North America; Forte President of Berkley Public Entity
Berkshire Hathaway Specialty Insurance (BHSI) announced it has promoted Angela Meyer to head of Product Liability in North America. She was previously head of Life Sciences in North America. Meyer joined BHSI in 2014 as senior underwriter, casualty, and has …
Typhoon Koinu on Track to Hit Taiwan Before Heading to Hong Kong
Severe Typhoon Koinu will pass over the southern tip of Taiwan in coming days before heading toward Hong Kong in a weakened state, according to regional observatories. The storm will intensify into a super typhoon with maximum sustained winds near …
MGA Skyrisks Officially Launches With Investment, Capacity From Convex Group
Skyrisks Ltd., the London-based MGA and specialist in the advanced air mobility (AAM) sector, has officially launched with capacity and a cornerstone investment from Convex Group, the specialty re/insurer. Financial details of Convex’s investment were not disclosed. Skyrisks said AAM …
PE Firm Cinven Eyes Sale of German Life Insurer Viridium: Sources
Cinven is considering a sale of German life insurer Viridium after another of its insurance investments in Europe, Eurovita, was hit by heavy customer outflows earlier in the year, three people familiar with the matter told Reuters. The private equity …