INSURANCE NEWS

China’s Financial Regulatory Revamp Raises Hope, but Some Concerns

A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention. In a major shake-up, China will set up the …
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Markets/Coverages: Specialist Re/insurer Apollo Announces Partnership With Praedicat to Harness Emerging Risk Insights

Apollo, the London-based independent specialist insurer and reinsurer, announced a three-year agreement with Praedicat, the California-based emerging risk analytics and modeling company, that will deploy Praedicat’s technology and data for Apollo’s underwriting and portfolio management. Praedicat’s CoMeta™ platform creates underwriting …
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UK’s Largest Companies Fail to Comply With FCA’s New Gender-Diversity Quotas

Seven of the UK’s 10 largest listed companies have failed to comply with the FCA’s new gender-diversity quotas, a reminder of the scale of the challenge facing businesses as they look to improve diversity in their upper ranks. AstraZeneca Plc, …
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European Central Bank to Test Cyber Resilience of Banks

The European Central Bank plans to test the cyber resilience of the euro zone’s top banks after a sharp rise in cyberattacks, including after Russia’s invasion of Ukraine, ECB supervisory chief Andrea Enria told a Lithuanian newspaper. “Next year we …
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Viewpoint: Stronger Building Standards Must Be the Norm

Regardless of where you call home, we all face growing risk of damage related to extreme weather. Hurricanes, wildfires, winter storms, tornadoes and hail pose increased risk for homes, businesses and communities across the country. According to the National Oceanic …
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JPMorgan Must Hand Over CEO Dimon’s Records in Jeffrey Epstein Lawsuit

A U.S. judge on Thursday ordered JPMorgan Chase & Co. to hand over more documents concerning Chief Executive Jamie Dimon to the U.S. Virgin Islands for the territory’s lawsuit accusing the bank of aiding in Jeffrey Epstein’s sex trafficking. U.S. …
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Georgia Insulation Maker Fined $432,400 After Worker’s Head Injury

The U.S. Occupational Health and Safety Organization has cited a Georgia insulation manufacturer after a 21-year-old worker suffered severe head trauma when he was caught in a machine’s roller. Bonded Logic Inc., in Lafayette, Georgia, was cited for multiple willful, …
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1 Worker Killed, 3 Injured in Wall Collapse at Manhattan Demolition Site

A worker died after a wall collapsed at a New York City demolition site and buried him in rubble, authorities said. The collapse happened Tuesday at a three-story building being demolished on Lafayette Street in lower Manhattan, city Department of …
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Court Finds Medical Malpractice Suit Partially Time-Barred, Trims Jury Award by $1.2M

A Pennsylvania Superior Court three-judge panel has slashed $1.2 million from a $2.7 million jury award in a medical malpractice case alleging two cancer misdiagnoses, finding that one of the claims was not brought until after the statute of limitations …
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Colorado Officer Charged in Shootout Sued by Injured Bystander

A police officer accused of accidentally shooting five bystanders as he fired at an armed man as bars let out in downtown Denver last year is being sued. Angelica Rey, one of the bystanders, filed the lawsuit against Officer Brandon …
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Mercury Insurance in California Names Pang Chief Technology Officer

Mercury General Corp. named Wilson Pang chief technology officer to lead its technological transformation efforts. As part of Mercury’s executive leadership team, Pang will develop and drive digital transformation strategies and will be responsible for overseeing the company’s software engineering …
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Ohio Insurance Department Warns of ‘Past Posting’ Fraud Scheme

The Ohio Department of Insurance warned of an insurance fraud scheme committed after an auto accident or property damage that is trending in the state. Named the “past posting” scheme, the term describes the action of a person attempting to …
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