INSURANCE NEWS
Robust Business Continuity Plans Need Regular Updates – and Insurers Play Vital Role
Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and don’t update them on a regular basis. …
Ukraine War, Geopolitics Fuel Cyber Attacks: EU agency
Geopolitics such as Russia’s invasion of Ukraine has led to more damaging and widespread cybersecurity attacks in the year to July, EU cybersecurity agency ENISA said in its annual report on Thursday. ENISA’s study follows concerns about the role of …
SEC Considering Action Against SolarWinds Over Cyber Disclosures
The U.S. Securities and Exchange Commission has recommended an enforcement action against SolarWinds Corp over its public statements on cybersecurity and procedures governing such disclosures, the software firm said on Thursday. The Austin, Texas-based company also said in a filing …
TotalEnergies to Take Legal Action After Greenpeace Says it Under-Reports Emissions
France’s TotalEnergies said on Thursday it would take legal action after environmental group Greenpeace France said it had under-reported its carbon emissions in 2019. Greenpeace France earlier accused the oil giant of under-reporting emissions, sparking a debate about its seriousness …
Markel Q3 Income Drops on Investments but Insurance ‘Solidly Profitable’
On the heels of a third quarter that saw increased earned premiums compared to the same stretch in 2021, leaders at Markel Corp. recently reflected on their recent earnings and examined how current events are shaping their future approach. “You …
UK to Cap Price of Russian Oil Using Insurance, Brokerage, Shipping Services Ban
The UK government is to cap the price of Russian oil for any company in the world using the country’s insurance, brokerage and shipping services. The UK Treasury said in a statement on Thursday that the country will prohibit the …
Moody’s: Environmental Considerations Increasingly Pressuring Issuers’ Credit Profiles
A Moody’s Investors Service Report shows that 16 sectors holding $4.3 trillion in rated debt are exposed to high or very high environmental credit risk. That’s more than twice as much as when the Paris Agreement was announced in 2015, …
Specialty Program Group Acquires Texas’ Catapult
Specialty Program Group, an operator of specialty insurance brokerages and underwriting facilities, announced the acquisition of the assets of Catapult Insurance Solutions. Based in Carrollton, Texas, Catapult is a privately held managing general insurance agency and wholesale brokerage for niche …
$6M Awarded in Missouri Asbestos Suit Against Ford, Others
ST. LOUIS (AP) – A St. Louis jury has ruled that Ford Motor Co. and other companies must pay $6 million to a Missouri family over claims that a woman’s death was caused by exposure to asbestos, including from dust …
Family of Man Killed by Detroit Police Files $50M Lawsuit
DETROIT (AP) – The family of Porter Burks, a Black man fatally shot during an early morning confrontation with Detroit police, is suing the city for $50 million, their lawyer announced Tuesday. Five unnamed officers also are named in the …
People Moves: Kuchma CEO Hamilton Select; O’Neill AXA XL New Head of Crime & Crisis; Branch Hires First CFO
Hamilton Names Kuchma as CEO of US E&S Insurer Hamilton Select Hamilton Insurance Group announced the appointment of Anita Kuchma as chief executive officer at Hamilton Select, its U.S. excess and surplus (E&S) lines insurer. Kuchma reports to Group CEO …
More Violations: OSHA Fines Dollar General $2.7M for Workplace Safety Problems
A month after federal regulators hit Dollar General stores with $1.6 million in fines for safety violations, the retailer now faces an additional $2.7 million in penalties for similar problems in Alabama, Florida and Georgia. The U.S. Occupational Safety and …