INSURANCE NEWS
Twitter Sued in Germany in Bid to Force Vetting of Antisemitic Posts
Twitter Inc. was hit by a lawsuit in Germany by an anti-hate speech organization and a European group of Jewish students in a bid to force the platform to remove antisemitic content. HateAid and the European Union of Jewish Students …
A Class-Action Wave Is Coming for ESG Claims
Lawyers are bracing for an increase in ESG-related cases as corporate disclosure requirements stiffen around the world. A survey by the law firm Norton Rose Fulbright found that 28% of more than 430 general counsel and in-house litigation leaders said …
Markets/Coverages: kWh Analytics, Aspen Partner on Property for Renewables; Hub Starts People & Tech Consulting; DUAL New Fine Art Program
kWh Analytics, Aspen Partner on Property Insurance for Renewables kWh Analytics, a leader in climate insurance, announced the launch of property insurance for renewable energy assets with capacity partner Aspen Insurance. This new product will provide coverage against physical damage …
People Moves: Everest Insurance Int’l Hires Powell to Lead Financial Lines; Swiss Re Corporate Solutions Names Arquint CEO EMEA, Succeeding Kleiterp
This edition of International People Moves details appointments at Everest Insurance International and Swiss Re Corporate Solutions. A summary of these new hires follows here. Everest Insurance Int’l Taps Zurich’s Powell to Lead Financial Lines Everest Insurance, the primary insurance …
UK Parliament Seeks Power to Scrutinize Financial Services Regulators
Britain’s financial regulators would face more scrutiny over their policies for consumers and the economy from Parliament under proposals from members of the House of Lords. A new independent body could track progress against certain metrics, with elected officials also …
Qantas Mayday Alert, Flight Turnbacks Put Safety Reputation Under Spotlight
Qantas Airways Ltd., the airline whose stellar safety record was made famous by Hollywood, is back in the spotlight after a flurry of mechanical malfunctions. The Australian airline has been hit by a spate of in-flight issues since the middle …
No Class of 2023: Why Capital Is Sitting on the Reinsurance Sidelines
Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they’ll continue to sit on the market sidelines, a market executive said recently. During an AM Best Reinsurance Briefing, Aditya Dutt, president of Aeolus …
FDA Proposes New Limits on Lead in Baby Foods
The U.S. Food and Drug Administration on Tuesday announced new guidance to reduce exposure to lead in processed baby foods. Though recommended and not required, the new proposed action levels from the FDA “could result in as much as a …
U.S. Targets Google’s Online Ad Business Monopoly in Latest Big Tech Lawsuit
The U.S. Justice Department accused Alphabet Inc’s Google on Tuesday of abusing its dominance in digital advertising, threatening to dismantle a key business at the heart of one of Silicon Valley’s most successful internet companies. The government said Google should …
Climate Is Forcing the Most Risk-Aware Industry to Reinvent Itself
When it comes to climate impacts, the frontline of the finance industry is insurance. Last year’s payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that’s a 50% increase over …
Alera Group Acquires Collective:Choice in California
Alera Group acquired Collective:Choice Insurance Solutions in Westminster, California. The Collective:Choice team will continue serving clients in their existing roles. Collective:Choice was created in 2006 to provide a way to shop for and enroll in the Affordable Care Act plans. …
$78M Grant Promises Upgrades at One of Philadelphia’s Deadliest Roads
Federal and city officials say a new $78 million federal grant will be used to make major safety improvements along a Philadelphia boulevard called one of the most dangerous in the city. The U.S. Department of Transportation grant will be …