INSURANCE NEWS
Overseas Companies Welcome China’s Decision to End Quarantines for Visitors
Companies welcomed China’s decision to end quarantines for travelers from abroad as an important step to revive slumping business activity while Japan on Tuesday announced restrictions on visitors from the country as infections surge. The ruling Communist Party’s abrupt decision …
North Korea Hackers Stole $1.2B in Virtual Assets Over 5 Years: South Korea Spy Agency
North Korean hackers have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrency and other virtual assets in the past five years, more than half of it this year alone, South Korea’s spy agency said Thursday. Experts and officials …
Insurer Finds Connecticut Public Buildings Free From Foundation Problems of Homes
A review of concrete foundations of public buildings in northeastern Connecticut, including schools and fire stations, has found no widespread deterioration problems like what’s plagued hundreds of residential homeowners. Out of 100 structures surveyed, only a handful showed signs of …
Death Count Rises as Buffalo Digs Out From ‘Worst Storm’ in Lifetime
BUFFALO, N.Y. (AP) — Buffalo residents hovered around space heaters, hunted for cars buried in snow drifts and looked for more victims Monday, aftermore than 28 people died in one of the worst weather-related disasters ever to hit western New …
Putin Bans Russian Oil Exports to Countries Implementing Sanctions-Related Price Cap
President Vladimir Putin on Tuesday delivered Russia’s long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap. …
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit
Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …
The SEC’s Crypto Crackdown Is Just Getting Started After FTX Blowup
The US Securities and Exchange Commission is just getting started with its crackdown on crypto firms that refuse to abide by its rules. SEC Chair Gary Gensler said in an interview on Thursday (Dec. 22) that the agency’s patience is …
Southwest Cancels Thousands More Flights; U.S. Government Vows Scrutiny
Southwest Airlines Co. on Dec. 27 came under fire from the U.S. government after the low-cost carrier kept canceling flights due to harsh winter weather that grounded planes and disrupted holiday travel. U.S. airlines have canceled thousands of flights as …
U.S. FDA Weighs Regulating Cannabis Compound CBD in Food, Supplements
The U.S. Food and Drug Administration (FDA) is planning to make recommendations on how to regulate the use of popular cannabis compound CBD in food and supplements, the Wall Street Journal reported Dec. 27, citing agency officials. After weighing the …
Lindberg’s Top Associate To Be Sentenced After Pleading Guilty to Federal Fraud Charges
A top executive for embattled North Carolina insurance executive Greg Lindberg is awaiting sentencing after pleading guilty to federal fraud charges in connection with an elaborate scheme to shunt millions of dollars from Lindberg’s insurance companies. Christopher Herwig, a chief …
Extreme Heat in Florida: Miami-Dade Has a Plan
You’re not imagining it: Miami-Dade County has gotten hotter in the last fifty years, a trend that’s set to continue if climate change remains unchecked. That’s more than a discomfort for residents in South Florida, where more people work outdoors …
Missouri Men Sentenced in Catalytic Converter Theft Ring
SPRINGFIELD, Mo. (AP) – Three Missouri men have been sentenced for their roles in the theft of tens of thousands of stolen catalytic converters, which were taken to an Arkansas business as part of a multi-million-dollar scheme. Evan Marshall, 25, …