INSURANCE NEWS
AI, Ransomware, Tech Burnout Biggest Takeaways from RIMS’ Riskworld
The 2023 RIMS’ Riskworld conference took place last week in Atlanta, and on this episode of The Insuring Cyber Podcast, two guests shared the biggest takeaways from the conference this year. Paul Bantick, global head of the cyber and tech …
Stalled Gun Bill Advances in Texas After Recent Mass Shootings
AUSTIN, Texas (AP) – Facing new pressure over gun violence in Texas after two more mass shootings, Republicans on Monday unexpectedly allowed a bill that would raise the purchase age for semiautomatic rifles from 18 to 21 to advance out …
Shell: Fire That Reignited at Houston-Area Plant is Extinguished
HOUSTON (AP) – Crews have finally extinguished a fire at a Houston-area petrochemical plant that had been burning on and off for days, according to Shell, which operates the plant. Fire fighters first responded to the blaze at the Deer …
U.S., Allies Dismantle 20-Year Russian Malware Spying Operation
The US and allied countries have disrupted a wide-ranging Russian hacking operation that spied on its adversaries over some 20 years, the Justice Department announced. Law enforcement agencies penetrated a global network of computers infected with malicious software that the …
Could Wearables Capture Well-Being?
Applying machine learning models, a type of artificial intelligence (AI), to data collected passively from wearable devices can identify a patient’s degree of resilience and well-being, according to investigators at the Icahn School of Medicine at Mount Sinai in New …
It’s Time to Roll up Our Sleeves and Rebuild the Florida Insurance Market
With the Florida legislative changes passed in December – prohibiting assignments of benefits and one-way attorney fees – there is now an opportunity to change the dynamic in Florida and create a more stable market. Historically, the main tools to …
NCCI Symposium: Strong Profits for Workers’ Comp, but Medical Still a Concern
While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy” nationwide reserve redundancy level of $17 billion. “The system is healthy …
Brown & Brown Buys Brownlee Agency in Georgia
Brown & Brown has acquired Georgia-based Brownlee Agency, one of the oldest insurance agencies on Florida’s east coast. Terms of the deal were not disclosed, the companies said in a news release. Founded in 1974 and headquartered in Tifton, Georgia, …
2 Children Died in California House Fire
Two children died in a house fire, authorities in Clovis said. The blaze was first reported shortly after 9:30 a.m. last week, Clovis police spokesperson Capt. Robbie Telles said. Responding officers found flames coming from the bottom floor of the …
Guyana’s Environmental Agency Appeals Court Decision Against Exxon
Guyana’s environmental regulator on Tuesday appealed a court decision that last week declared that the agency and Exxon Mobil unit breached oil-spill insurance obligations for the company’s first offshore project in the country. Guyana’s High Court Justice Sandil Kissoon said …
EU Set for Tough Talks After Lawmakers Back Stricter Methane Rules
The European Parliament voted on Tuesday in favor of rules that would force companies selling oil and gas in Europe to cut their methane emissions, setting itself up for tough negotiations with EU countries seeking weaker limits on the potent …
People Moves: AXIS Appoints Gregory Head of Global Markets, McKenna Head of North America
AXIS Capital Holdings Limited announced the following appointments within its specialty insurance business: Mark Gregory as head of global markets and Michael J. McKenna as head of North America. The newly created leadership positions will report directly to Vince Tizzio, …