INSURANCE NEWS
Amazon, Google Named by EU Among ‘Critical’ Tech Providers for Finance Industry
European Union regulators on Tuesday designated 19 technology companies, including Amazon Web Services, Google Cloud, and Microsoft, as critical third-party computing providers for the bloc’s finance industry. Under the EU’s Digital Operational Resilience Act (DORA), which started being applied in …
Former Owner of Arkansas Apartment Complex Sued for Sexual Misconduct
The Justice Department announced that it has filed a lawsuit against Thomas Ray Kelso, the former owner and manager of rental properties formerly known as Briarwood Apartments in Searcy, Arkansas, for engaging in sexual harassment and retaliation in violation of …
Tulsa Approves Ordinance Allowing Fire Department to Bill Insurers for Car Accident Responses
The Tulsa City Council last week approved an ordinance allowing the city’s fire department to charge insurance companies for responses to some motor vehicle accidents. The cost recovery program will charge the at-fault driver’s insurance carrier, and the fee amount …
People Moves: Chubb Appoints Hazelton COO of North America Field Operations; Haase Joins Everest as CEO of Legacy Operations
Chubb Appoints Hazelton COO of North America Field Operations Chubb, headquartered in New York City, named Bill Hazelton as chief operating officer (COO) for North America Field Operations, effective Dec. 1. Hazelton will oversee the delivery of Chubb’s full portfolio …
Senator Opposes FCC Plan to Reverse Cyber Rules Adopted After Salt Typhoon Attack
The top Democrat on the Senate Commerce Committee on Tuesday called on the Federal Communications Commission to abandon plans to rescind cybersecurity requirements adopted after the massive Salt Typhoon Chinese hacking incident that infiltrated U.S. telecom companies last year. Senator …
Has Insurtech Funding Found a Floor?
Two separate reports published this month show that while quarterly insurtech deal counts have plummeted from heights attained in 2021 and 2022, dollar levels invested in insurtechs have stabilized since late 2022. While their deal-dollar and deal-count tallies are slightly …
How Big Tech Is Faring Against US Antitrust Lawsuits?
A federal judge ruling that Meta Platforms does not hold an illegal social media monopoly handed Big Tech its first decisive win against the antitrust crackdown started in President Donald Trump’s first term. Here are the statuses of the U.S. …
GEICO Can’t Slip Out of SC Lawsuit That Says it Owes $70M in Taxes and Penalties
GEICO insurance companies can’t dismiss a South Carolina lawsuit that demands they pay almost $70 million in back taxes and penalties, a federal judge ruled in a case that could ultimately affect how insurance taxes are collected by cities in …
People Moves: TMK Taps Beazley’s Silvestre as Head of Cyber Reinsurance Solutions; MGA Augmented Names Overall From Atrium as Head of Underwriting
This edition of International People Moves details appointments at the specialty insurer Tokio Marine Kiln and the MGA Augmented UW. A summary of these new hires follows here. TMK Taps Beazley’s Silvestre as Head of Cyber Reinsurance Solutions Tokio Marine …
Motive, GEICO Partner to Improve Safety and Lower Premiums for Commercial Fleets
GEICO and fleet management company Motive have partnered to improve drive safety and drive down insurance prices for commercial fleets. Motive’s artificial intelligence-powered operations platform integrates fleet management, spend management, equipment and temperature monitoring, compliance, and workforce management in one …
Registration Deadline for Louisiana Fortify Homes Program Grants Extended
The registration deadline for the current round of Louisiana Fortify Homes Program (LFHP) grants has been extended to 5 p.m. on Thursday, Nov. 20, due to the national Cloudflare outage on Tuesday, the Louisiana Department of Insurance said. Homeowners who …
Trump Administration Considers Moving FEMA to Texas, Report Says
The Trump administration is weighing whether to relocate the Federal Emergency Management Agency to Texas and tap the state’s top emergency official to lead it, Politico reported Monday, citing two former senior FEMA officials. In February, Trump interviewed Nim Kidd, …