INSURANCE NEWS
Ethics Panel Recommends Georgia Appeals Court Judge Be Removed From Office
Georgia’s Supreme Court should permanently remove a state appeals court judge accused of ethical misconduct, a judicial discipline panel recommended in a report released Monday. The three-member state panel said Christian Coomer flouted ethics rules on how a lawyer should …
North Carolina Rate Bureau Files for 28% Increase in Auto Insurance Rates
The North Carolina Rate Bureau is asking for a 28% increase in auto insurance rates for the state, an increase that will likely be slashed significantly by the state Department of Insurance. The average statewide increase for private passenger auto …
Global Commercial Insurance Rates Rise 4% in Q4, Continuing Moderating Trend
Global commercial insurance prices increased 4% in the fourth quarter of 2022, down from a 6% increase in Q3 and a 9% increase in Q2, which is a continuation of a trend of moderating increases that began in Q1 2021, …
Judge Allows New Jersey Town’s Suit to Recover $21M Spent on Beach Restoration
A New Jersey beach town that defied state environmental authorities and fixed its dunes that were seriously eroded by a storm can proceed with a lawsuit seeking to recover $21 million it spent bulking up its shoreline, but cannot build …
Mississippi Pet Insurance Bill Fur Real This Time, Senators Say
More Mississippi dogs, cats, reptiles and birds may soon be insured against costly medical bills thanks to legislation that passed in the state Senate Wednesday. Senate Bill 2228, by Sen. Walter Michel, a Republican from Ridgeland, would create “a comprehensive …
Kentucky Tornado Relief Payments Come Under Scrutiny
Some people unaffected by tornadoes that ravaged Kentucky in late 2021 were mistakenly sent payments from a relief fund funneling private donations into the region, the state treasurer’s office said Wednesday. State Treasurer Allison Ball’s office said it canceled payment …
Westfield Completes Acquisition of Lloyd’s of London Syndicate 1200
Westfield has completed the acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings Ltd. for about $125 million. The deal was first announced in September 2022. Westfield said this strategic acquisition establishes the company as a global …
Ransomware Attack Closes Nantucket Schools
Public schools on the Massachusetts island of Nantucket remained closed on Wednesday a day after a ransomware attack targeted the district’s computer system and prompted officials to send students home early. “Together with outside data security experts, our Information Technology …
Amwins Global Risks Acquires UK Broker Roberts Armytage & Partners
Amwins Global Risks, the London-based international arm of global specialty insurance broker Amwins, announced the acquisition of Roberts Armytage & Partners (RAP), the specialist, energy and marine-focused London broker. Financial details of the transaction were not disclosed. As the energy …
Airbus and Qatar Airways Settle Bitter Dispute Over Grounded A350 Jets
Airbus and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable …
Hackers of ION Trading Also Hit UK Postal Service, Canada Hospital, U.S. Local Agencies
The hacking group behind a cyberattack against the software firm ION Trading UK has recently conducted a series of breaches throughout the world, with its victims including the UK’s postal service and local government agencies in the US. The gang, …
Crypto Thefts Hit Record $3.8B in 2022 on Surge in North Korea Hacking: Report
Thieves stole a record $3.8 billion worth of cryptocurrency in 2022 as sanctions on North Korea drove a surge in suspected hacking by the Asian nation. Overall crypto losses increased from $3.3 billion stolen in 2021, blockchain analysis firm Chainalysis …