INSURANCE NEWS
Cyberattacks on Renewables: The Stuff of Nightmares for Europe’s Power Sector
Saboteurs target a nation leading the world in clean energy. They hack into vulnerable wind and solar power systems. They knock out digitalized energy grids. They wreak havoc. It’s the stuff of nightmares for European power chiefs. Henriette Borgund knows …
Kentucky Coal Company, Employee Sentenced for Falsifying Dust Samples, Lying
A coal dust examiner who worked for a Kentucky mining company has been sentenced to six months in prison for falsifying dust samples and lying to federal officials. Walter Perkins’ employer, Black Diamond Coal Company, was placed on probation for …
AM Best: US Cyber Insurance Segment Reflects Hard Market, Profits
Last year marked robust growth in the U.S. cyber insurance market, with direct premiums increasing by 50% to $7.2 billion, brought on by better underwriting and improved loss ratios, according to Best’s Market Segment Report. Direct premium written tripled in …
MOVEit Cyber Atack Hits UK Printing Firm Used by Insurers, Brokers and Banks
A UK printing firm that sends mail for clients ranging from major health-insurance providers to multinational banks was a victim of the extensive MOVEit cyberattack. Adare SEC confirmed to Bloomberg News on Monday that it was hit by the MOVEit …
SEC to Weigh New Artificial-Intelligence Rules for Brokerages
Wall Street’s main regulator is moving to introduce new rules for brokerages using artificial intelligence to interact with clients. The US Securities and Exchange Commission said Tuesday that a long contemplated plan to rein in conflicts of interest associated with …
Bipartisan Bill Would End Section 230 Immunity for Generative AI
Two U.S. senators introduced legislation on Wednesday that would allow social media companies to be sued for spreading harmful material created with artificial intelligence. The law would open the door for lawsuits to proceed against social media companies for claims …
Intrepid Reinsurance Execs Take on Extreme Challenge in ‘World’s Toughest Row’
Four intrepid reinsurance executives from Convex and Swiss Re are rowing from Monterey, Calif. to Hawaii – as part of the “World’s Toughest Row – Pacific.” It’s all for charity – and, of course, for a challenging, life-changing adventure. In …
People Moves: XPT Specialty names Williams VP and Broker
XPT Specialty names Williams VP and Broker XPT Specialty has hired Catrina Williams as vice president and broker in the commercial lines division of XPT’s Texas offices. XPT is headquartered in New York, New York. Williams began her insurance career …
Three Texas Companies Recognized for Workplace Safety
The Texas Department of Insurance Division of Workers’ Compensation (DWC) awarded three companies the Lone Star Safety Award for their exemplary workplace health and safety programs and low rates of work-related injuries and illnesses. Among them are the Ocean Spray …
New Louisiana School A Step to Resolve Decades-Old Lawsuit
NEW ORLEANS (AP) – Authorities in a southwest Louisiana school district have agreed to develop a magnet school in a historically Black school zone to draw students of all races from across the district in a step toward resolving a …
Michigan State Students Wounded in Shooting Take Steps Toward Lawsuit
EAST LANSING, Mich. (AP) – Two students who were among eight killed or wounded in a winter shooting at Michigan State University are taking steps toward suing the school. Attorneys for Nate Statly and Troy Forbush, who survived the shooting, …
Crews Begin Demolishing Remains of Collapsed Iowa Building
DAVENPORT, Iowa (AP) – Crews on Monday started demolishing the remains of a six- story apartment building in Davenport, Iowa, that partially collapsed more than two weeks ago, killing three people and leaving dozens homeless. Workers were using large excavators …