INSURANCE NEWS
Norway to Improve Security Around Submarine Fiber Cables for Oil & Gas Industry
Norway will beef up security around the digital infrastructure that is essential for the Nordic country’s oil and gas production, following the recent sabotage on the Nord Stream pipelines. Norway will spend an additional 43 million kroner ($4.3 million) to …
EU Insurers, Banks Face Tougher Rules on Use of Cloud Computing Giants
Financial firms in the European Union will have to show how quickly they could recover from a cyber attack as they rely more for key services on “cloud computing” giants such as Amazon, Microsoft, Google and IBM, the EU said …
Google Play Fee Suit by Consumers Grows to 21 Million Users
Google now faces more than 21 million customers, instead of just a handful, in a lawsuit alleging its app store collects exorbitant fees. A federal judge exponentially increased the Alphabet Inc. unit’s damages exposure by granting class-action status Monday in …
It’s On: Florida Special Session on Insurance Slated for Dec. 12-16
It hasn’t been made official by the governor’s office, but Florida legislative leaders have set a date for a second special session to tackle property insurance issues – Dec. 12 through Dec. 16. Memos from newly sworn Senate and House …
After Fire, School Employee Charged in Connection with Falsified Alarm Inspections
When an elementary school in Durham, North Carolina, caught fire in the middle of the night last April, officials found it strange that the alarm did not sound or alert the local fire department. It turned out that inspections of …
Four Florida Cities in Top 10 Most Dangerous for Pedestrians, Affecting Insurance Costs
Six of the top 10 most dangerous cities for pedestrians are in the Southeast and four of those are in Florida, according to a report from an advocacy group that works for better planning and safer transportation designs. And the …
Hurricane Ian Runoff May Be Worsening Red Tide on Florida’s SW Coast
Scientists are saying a red tide bloom that’s lingered along the coast for a few weeks is now being fed by nutrients running off the landscape in the wake of Hurricane Ian. Red tide (Karenia brevis) is a naturally occurring …
Viewpoint: California Regulatory System Hurting Independent Agents and Their Clients
Millions of California insurance consumers are being adversely affected and incurring higher costs of insurance due to the malfunctioning insurance regulatory system in California. Moreover, the broken regulatory environment is undermining, and in some cases, threatening to destroy, independent insurance …
California Commissioner Issues Moratorium on Homeowners Insurance Cancellations in L.A. and Kern Counties
California Insurance Commissioner Ricardo Lara ordered insurance companies to preserve residential insurance coverage following Gov. Gavin Newsom’s Nov. 19 emergency declaration. The commissioner’s bulletin shields policyholders within the wildfire perimeter of the Route Fire and in adjacent ZIP codes from …
Proposed Settlement Bars Financing Firm From Victim Compensation Funds
The federal Consumer Financial Protection Bureau (CFPB) and the New York attorney general have resolved years-long their claims of deceptive practices in connection with cash advances offered to people on their settlement payouts from victim-compensation funds. Under the settlement, RD …
Avian Flu Outbreak Wipes Out Record 50.5 Million Birds
Avian flu has wiped out 50.54 million birds in the United States this year, making it the country’s deadliest outbreak in history, U.S. Department of Agriculture data showed on Thursday. The deaths of chickens, turkeys and other birds represent the …
Rokstone to Launch Ohio-Based Farm and Ranch Division
Rokstone Agriculture Risk Underwriters, the U.S. specialist agriculture division of the International Speciality (Re)Insurance MGA, Rokstone, has acquired two US market leading senior underwriters to launch a new specialist farm and ranch division based in Ohio. Joshua Lauth has been …