INSURANCE NEWS
Ermotti to Step Down as Swiss Re Chair to Take UBS Role; Interim Chair Named
Sergio P. Ermotti is stepping down as the chairman of Swiss Re, following his appointment as the new CEO of UBS. Swiss Re’s Board of Directors will immediately start the search to find a successor. In the interim, board member …
People Moves: INSUREtrust Names Levy EVP; W. R. Berkley Hires President of Berkley Luxury Group
Levy Joins INSUREtrust as Executive Vice President INSUREtrust, a cyber insurance and risk management specialty broker within Starwind Specialty, has added Florence Levy as executive vice president. She will work out of Denver, Colorado. Before joining Norcross, Georgia-based INSUREtrust, Levy …
APCIA Says Property Insurance Market ‘Hardest in a Generation’
A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says in a new white paper. “The growth of …
Brazil Miner Vale to Pay $56M to Settle SEC Charges Related to Dam Safety Disclosures
Brazilian mining firm Vale SA agreed to pay $55.9 million to settle charges related to allegedly false and misleading disclosures about the safety of its dams prior to a 2019 dam collapse in Brazil that killed 270 people, the U.S. …
At Least 50 U.S. Government Employees Hit With Spyware, Prompting New Rules
At least 50 U.S. government staffers stationed in 10 countries were targeted with commercial hacking tools, commonly known as spyware, according to a senior administration official, highlighting the growing threat caused by offensive cyber vendors and prompting the White House …
UK’s Poor Climate Planning Risks ‘Cascading Failures’: Report
Britain is “strikingly unprepared” for a changing climate and could face disruptions to energy, food supply, transport and communications infrastructure if it fails to adapt fast, the government’s independent adviser on climate policy has warned. The UK is already experiencing …
Mississippi Insurance Agency, Like Others Hit by Storms, Vows to Rebuild After Devastating Tornado
For the third time in the last 18 months, tornadoes or a hurricane have wiped out or have heavily damaged well-established insurance agencies in the Southeast. And all three of those agencies have rebuilt their businesses or have vowed to …
Washington Moves to End Child Sex Abuse Lawsuit Time Limits
People who were sexually abused as children in Washington state may soon be able to bring lawsuits against the state, schools or other institutions for failing to stop the abuse, no matter when it happened. House Bill 1618 would remove …
Wreckage Complicates Job of Investigators of Chocolate Factory Deadly Blast
Investigators looking for the cause of a deadly explosion that leveled part of a Pennsylvania chocolate factory faced an even more difficult task Monday as they combed through wreckage that was extensively picked apart and moved around during the intensive …
Internet Library’s Book Service Violated Copyright, Judge Rules
A federal judge has sided with four publishers who sued an online archive over its unauthorized scanning of millions of copyrighted works and offering them for free to the public. Judge John G. Koeltl of U.S. District Court in Manhattan …
Health Officials See No Sign of Contamination of Philadelphia’s Water After Spill
Philadelphia water officials say they are monitoring water quality closely and have seen no sign of contamination following a chemical spill into the Delaware River in a neighboring county. Bucks County health officials said Sunday that a leak late Friday …
People Moves: Watkins Insurance Group Appoints of Two Shareholders
Watkins Insurance Group Appoints of Two Shareholders Watkins Insurance Group has announced the appointment of Joe Guyton and John Aoueille as two new shareholders. With over a decade of commitment to the agency, Guyton and Aoueille have demonstrated their expertise …