INSURANCE NEWS
Third Point’s Loeb Looks to Take Re/insurer SiriusPoint Private
Activist investor Daniel Loeb is looking to take insurance firm SiriusPoint Ltd. private, the founder of hedge fund Third Point said in a regulatory filing, sending the shares of the company up 13% in early trading on Wednesday. The billionaire …
AccuWeather: Storms May Have Delayed California’s Wildfire Season
The massive rainfall and snow California received this winter will likely delay the upcoming wildfire season for the state – though all that moisture is unlikely to curtail it much if at all, a wildfire report out today shows. The …
Re/insurance MGA Aspect Labs Opens for Business, Backed by Everest Re and AmTrust
Aspect Labs Ltd., the London-based re/insurance managing general agent, has officially opened its doors for business – targeting small-to-mid-market risks that are not big enough for Lloyd’s of London. Initially focusing on the direct and facultative property arena in the …
Dog-Related Injuries Cost Insurers More Than $1 Billion in 2022
Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and State Farm. There were 17,597 …
U.S. Proposes 56% Vehicle Emissions Cut by 2032, Requiring Big EV Jump
The U.S. Environmental Protection Agency (EPA) on Wednesday proposed sweeping emissions cuts for new cars and trucks through 2032, a move it says could mean two out of every three new vehicles automakers sell will be electric within a decade. …
Man Admits Role in Catalytic Converter Theft Ring in Connecticut
An East Hartford man has pleaded guilty to participating in a stolen catalytic converter trafficking ring. Bryant Bermudez pleaded guilty to one count of conspiracy to commit interstate transportation of stolen property and three counts of interstate transportation of stolen …
How Insurers Can Harness the Power of AI
There is a lot of talk about the insurance industry being slower to adopt new technologies, such as artificial intelligence, but Counterpart CEO Tanner Hackett and Socotra CEO Dan Woods both agreed on the latest episode of The Insuring Cyber …
Russia’s Largest Cargo Airline Ordered to Pay Aircraft Lessor BOC Aviation $406.2M
/A U.S. judge on Tuesday ordered Russia’s largest cargo airline to pay aircraft lessor BOC Aviation Ltd. $406.2 million after being declared in default on leases for three Boeing 747-8 freighters following Russia’s invasion of Ukraine. U.S. District Judge Lewis …
French Building Collapse Kills at Least 6; Gas Explosion Suspected
French investigators are treating the deaths of at least six people who were killed when a building collapsed in the city of Marseille as a possible “involuntary homicide” case, a prosecutor said Tuesday. Prosecutor Dominique Laurens said an investigation was …
NFP Acquires UK Broker Gravity Risk Services
NFP, a New York City-based property/casualty broker, announced it has acquired Gravity Risk Services Ltd., an insurance broker based in the West Midlands, England. Financial terms of the deal were not disclosed. NFP will integrate Gravity’s risk services into its …
German Superyacht Maker Lürssen Hit by Ransomware Cyber Attack
German shipbuilder Lürssen, which makes military vessels as well as luxury yachts, has become the target of a ransomware cyberattack. The Bremen-based company was attacked over the Easter holiday period, company spokesman Oliver Grün said Tuesday. “In coordination with internal …
People Moves: Strong Named N2G CEO; Butera to Head Swiss Re FinPro Lines, Casualty North America; Ascot Hires Totolos as Captive Solutions Leader
Strong Named New N2G CEO N2G Worldwide Insurance Services, LLC has named Kevin M. Strong its new chief executive officer. Strong replaces retiring N2G CEO Bill Skapof, who has led the company since 2020. Strong has more than 20 years …