INSURANCE NEWS
Zelenskiy Says Crisis Averted as Russian-Held Ukraine Nuclear Plant Regains Power
President Volodymyr Zelenskiy said the world narrowly avoided a radiation disaster on Thursday as the last regular line supplying electricity to Ukraine’s Russian-held Zaporizhzhia nuclear power plant was restored hours after being cut. Zelenskiy blamed shelling by Russia’s military for …
Four Workers Hurt in Steam Release at North Carolina Paper Mill
Four workers were hurt at a North Carolina paper mill on Thursday, officials said. Four employees at WestRock’s mill in Roanoke Rapids were injured in an incident involving a steam release from a valve, WestRock spokesperson Robby Johnson said in …
Five Men Charged in Multi-State Catalytic Converter Theft Scheme
U.S. District Attorney Vanessa Roberts Avery in Connecticut announced the unsealing of a nine-count indictment that charges five men with federal offenses related to their participation in a stolen catalytic converter trafficking ring. The indictment, returned by a federal grand …
SEC Changes Whistle-Blower Award Rules to Boost Tipster Payouts
The US Securities and Exchange Commission changed its whistle-blower rules to give the agency more leeway to pay out hefty awards. Wall Street’s main regulator will be able to pay tipsters who help other government agencies that don’t have whistle-blower …
ILS Investors Could Help Fill Cyber Re/Insurance Protection Gap if Hurdles Are Overcome
The cyber re/insurance protection gap provides an opportunity for insurance-linked securities (ILS) investors, which historically have filled the gaps where traditional capital has either retrenched or is unavailable, according to a report published by S&P Global Ratings. “The demand for …
Viewpoint: Can the Florida Insurance Market Withstand Another Hurricane Andrew?
The wide-ranging impact of Hurricane Andrew on the Florida insurance market is a familiar story within the risk management world. However, 30 years on from August 24, 1992, when Andrew made landfall in Dade County, Florida, memories appear to be …
Mississippi Capital Area Bracing for More Pearl River Flooding
The rental home that Suzannah Thames owns in Mississippi’s capital city was filled with dirty, snake-infested flood water when the Pearl River overflowed its banks in 2020. On Friday, Thames pointed to a column on the front porch to show …
Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050
Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to GDP by 2050, according to a report released Monday. This year heavy rains have triggered floods that inundated cities in …
Cyber Insurance Price Hike Hits Local Governments Hard
This story originally appeared on Stateline, an initiative of The Pew Charitable Trusts. Horry County, South Carolina, officials were in for a shock earlier this year, when they discovered their cyber insurance premium would be spiking from $70,000 last year …
New York Detective Wants Supreme Court to Block Vaccine Mandate
A New York City police detective has asked the U.S. Supreme Court to stop the city from firing him and other workers for refusing to get vaccinated against COVID-19. Lawyers for Detective Anthony Marciano asked the court Thursday for an …
Britain’s Beaches Face Growing Problem With Sewage Discharges
Raw sewage has been spilling into seawater in some parts of England and Wales over the past week after heavy rains overwhelmed sewer systems. The contaminated flows triggered new pollution risk warnings and advice against bathing from the Environment Agency …
Deaths From Pakistan Floods Top 1,000 in ‘Climate Catastrophe’
ISLAMABAD (AP) – Deaths from widespread flooding in Pakistan topped 1,000 since mid-June, officials said Sunday, as the country’s climate minister called the deadly monsoon season “a serious climate catastrophe.” Flash flooding from the heavy rains has washed away villages …