INSURANCE NEWS
Clorox’s First-Quarter Results Could See ‘Material Impact’ From Cyber Attack
Pine-Sol maker Clorox said on Monday its first-quarter results could see a “material impact” from a cybersecurity attack last month that damaged portions of its IT infrastructure and caused widescale disruption to its operations. The household staples maker said on …
Blockchain Analysts Suspect N. Korea-Linked Hackers Behind $70M Crypto Theft
Blockchain researchers say North Korea-linked hackers are likely behind a $70 million theft from crypto exchange CoinEx. CoinEx, which says it is based in Hong Kong, said on Tuesday on social media platform X, formerly known as Twitter, that wallets …
Regulators Move to Stop Greenwashing Before It Gets Worse
In 2021, a series of HSBC advertisements started appearing on bus stops around the UK. Part of a campaign centered on the slogan “Climate change doesn’t do borders,” the posters paired images of trees and ocean waves with statements about …
Private Equity Firm CVC Invests in Dale Underwriting to Boost Growth at Lloyd’s
Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, has agreed a strategic partnership with CVC, a leading global private markets manager with €161 billion of assets under management. CVC funds will invest in Dale to …
PE Firm Advent Eyes Sale of Car Insurance Software Vendor CCC: Sources
Private equity firm Advent International is exploring a sale of CCC Intelligent Solutions Holdings Inc., a provider of software to the car insurance industry that has a market value of $7.1 billion, people familiar with the matter said on Friday. …
Hippo Investors Call for Strategic Review by Board, Other Actions
Members of the board of directors of insurtech Hippo were on the receiving end of an open letter from a “concerned shareholder group,” yesterday, urging board actions to preserve the value of a company that has faced financial difficulties recently. …
The Hartford Launches Digital Submission Capabilities for Midsize And Large Accounts
The Hartford said it expanded its digital capabilities with new submission and quote Application Programming Interfaces (APIs), and portal options for agents and brokers who write midsize and large businesses. The new capabilities save time, provide faster turnaround, and increase …
South Carolina Bars, Eateries Closing Down for Lack of Affordable Liability Coverage
Wanted in South Carolina: $1 million in liquor liability coverage at an affordable premium to prevent closure of establishment. That’s the type of advertisement one can imagine bars and bistros across the Palmetto State running this fall, as the full …
People Moves: Nordholm joins Mercury as Head of Technical Product
Mercury Insurance, headquartered in Brea, Calif., named Cameron Nordholm as its head of technical product. Before joining Mercury Insurance, Nordholm was head of product and head of strategy at AgentSync and served as a product consultant at Diegetic Media, LLC.
New York Could Require Flood Disclosures in Home Sales
Alan Oligario`s home is prone to flooding — and he wishes someone had told him before he bought it. His initial flood came in the first year after he bought the house in Highland Falls, New York. The second came …
Delaware: Professional Services Exclusion Didn’t Bar False Claims Act Settlement
A mortgage lender accused of violating the False Claims Act by approving government-backed loans that did not meet federal guidelines can seek to recover the $15 million it paid to resolve the allegations from its management liability insurer, the Delaware …
Gas Leak Forced Evacuation of Southern California Homes
A Southern California neighborhood was evacuated for more than six hours early Thursday due to a large leak of natural gas from an underground pipe, authorities said. The leak was detected around 1:30 a.m. in unincorporated West Whittier, about 10 …