INSURANCE NEWS
New Hampshire Court Nixes Medical Monitoring Part of PFOA Class Action
In a case involving a class action brought by New Hampshire citizens against a Merrimack plastics plant over its release of toxic chemicals into the air and groundwater, the state’s high court has found that medical monitoring is neither a …
Taking Care of Business: Opportunities Within Soft Workers’ Comp Market
Workers’ compensation is getting the job done. Premiums are decreasing, claims are stable, and retention is high. But even good news can present its own set of challenges, Burns & Wilcox indicated in its webinar, Navigating a Soft Workers’ Compensation …
North Korean Hackers Posed as NY Times, Voice of America Staff
Suspected North Korean hackers are posing as journalists and trying to gather intelligence about international officials’ approach to nuclear security policy and Kim Jong Un’s government, according to new research. A prolific cyber-espionage group that’s targeted US and South Korean …
Southeast Beware: More Killer Tornadoes on the Way, Study Says
America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently in the more populous Southern states, like Alabama, …
South Carolina Senate Moves to Ban Foreign Adversaries from Owning Land in State
South Carolina’s Republican-controlled Senate passed a bill Thursday that would bar citizens of “foreign adversary” nations from buying property in the state, an anti-espionage measure that critics fear will chill overseas investments over outsize concerns. The bill is one of …
NHTSA Opens Investigation Into Tesla Seat Belts Coming Loose
U.S. highway safety regulators have opened yet another investigation into problems with Teslas, this time tied to complaints that the seat belts may not hold people in a crash. The investigation by the National Highway Traffic Safety Administration covers an …
Colombia, Peru Eye World Bank Catastrophe Bonds on Renewed Investor Interest
Colombia and Peru are considering returning to a World Bank program that issues bonds to cover claims on natural disasters after the plan faced a nearly two-year lull. The countries are among those looking to take advantage of renewed investor …
Insurance That’s Out of This World, Literally
Battleface CEO Sasha Gainullin feels confident that as space tourism evolves, more data will exist to make insurers more comfortable entering this emerging market. In fact, his company already has a headstart. Battleface is a company launched in January of …
Ermotti to Step Down as Swiss Re Chair to Take UBS Role; Interim Chair Named
Sergio P. Ermotti is stepping down as the chairman of Swiss Re, following his appointment as the new CEO of UBS. Swiss Re’s Board of Directors will immediately start the search to find a successor. In the interim, board member …
People Moves: INSUREtrust Names Levy EVP; W. R. Berkley Hires President of Berkley Luxury Group
Levy Joins INSUREtrust as Executive Vice President INSUREtrust, a cyber insurance and risk management specialty broker within Starwind Specialty, has added Florence Levy as executive vice president. She will work out of Denver, Colorado. Before joining Norcross, Georgia-based INSUREtrust, Levy …
APCIA Says Property Insurance Market ‘Hardest in a Generation’
A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says in a new white paper. “The growth of …
Brazil Miner Vale to Pay $56M to Settle SEC Charges Related to Dam Safety Disclosures
Brazilian mining firm Vale SA agreed to pay $55.9 million to settle charges related to allegedly false and misleading disclosures about the safety of its dams prior to a 2019 dam collapse in Brazil that killed 270 people, the U.S. …