INSURANCE NEWS
AXA Fund to Invest $49 Million in Brazil Reforestation Projects
An alternative investment vehicle controlled by French insurer AXA said on Tuesday it will inject $49 million into reforestation projects in Brazil led by local startup Mombak. AXA IM Alts, which has over 185 billion euros ($208 billion) under management, …
People Moves: AXA XL Insurance Names CNA’s Smith as Head of US Mid-Market Business; Miller Expands US Casualty Team With 2 Hires From Price Forbes
AXA XL Insurance Names CNA’s Smith as Head of US Mid-Market Business AXA XL Insurance appoints Adele Smith as head of Mid-Market Generalist in the next phase of its targeted U.S. Mid-Market insurance business launch. Based in New York, and …
UK Watchdog Proposes Toughening Safeguards Against Illegal Marketing on Social Media
Britain’s financial watchdog on Monday proposed toughening up safeguards against the illegal marketing of financial products on social media by applying a stringent “consumer duty” that is being rolled out to banks, funds and insurers on July 31. The Financial …
Travel Essentials: Passport, Money, Bluetooth Luggage Trackers?
After returning to New York from Oslo in late May, Harley Hendrix noticed her suitcase containing a cherished Alexander McQueen dress had been diverted to Copenhagen. Also rotting in Denmark: packs of cheese that Hendrix had stuffed into the suitcase …
Business Leaders Appear Less Concerned by Cyber Risk: Report
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according to a Beazley risk and reliance report. “The perceived threat of cyber risk …
Tesla Directors Pay $735M to Settle Shareholder Lawsuit Over Excess Compensation
Tesla Inc.’s directors will return $735 million to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court. The settlement resolves a …
New Saharan Heat Blast Spells More Extreme Temperatures in Europe
The heat wave engulfing the Mediterranean is set to intensify as another Saharan anticyclone threatens record temperatures from Italy to Greece. The new weather system — named Charon after the mythological ferryman who delivered souls to the underworld – could …
Memphis Grizzlies’ Ja Morant Seeks ‘Stand Your Ground’ Immunity for Punch Lawsuit
The future of a lawsuit accusing Memphis Grizzlies star Ja Morant of assaulting a teenager during a pickup basketball game hinges on whether Morant will be allowed to say that he was acting in self-defense and can receive immunity under …
Hub Acquires Edbrooke/Stelcner Associates in Florida
Global insurance broker Hub International Limited announced that it has acquired the assets of Edbrooke/Stelcner and Associates, Inc. in Coral Gables, Florida. Edbrooke/Stelcner is an employee benefits brokerage and consulting firm specializing in the aviation, hospitality and healthcare industries, Edbrooke/Stelcner …
Heavy Rains Swamp Northeast Again; Floods Claims 5 Lives; Others, Including 2 Children, Missing
Heavy rains pounded an already saturated Northeast on Sunday for the second time in a week, spurring another round of flash flooding, cancelled airline flights and power outages. In Pennsylvania, a sudden flash flood late Saturday afternoon claimed at least …
Firefighters Make Gains on Southern California Wildfire
Firefighters gained ground Monday against a large wildfire and three smaller blazes in the torrid interior of Southern California. The Rabbit Fire grew slightly overnight to more than 12 square miles but containment jumped to 35%, according to the Riverside …
Owner of Louisiana Residence Inn Settles ADA Civil Claims
The United States has finalized a settlement agreement with IM Baton Rouge OPCO, LLC, owner and manager of the Residence Inn by Marriott Baton Rouge Towne Center Cedar Lodge (the “Marriott Towne Center”), to resolve civil claims under Title III …