INSURANCE NEWS
Pipeline Break Spills 45,000 Gallons of Diesel in Wyoming
A diesel pipeline in Wyoming owned by a company that’s being sued by federal prosecutors over previous spills in two other states cracked open and released more than 45,000 gallons of fuel, state regulators and a company representative disclosed. Cleanup …
LA Dodgers Pitcher Accuser Files Countersuit to Defamation Claim
A San Diego woman who alleges Los Angeles Dodgers pitcher Trevor Bauer sexually abused her has filed a countersuit to his defamation claim, alleging the baseball star beat her and left her bruised, according to a court filing. Bauer has …
Coalition to Now Offer Cyber Policies With Acquisition of Admitted Carrier
Coalition said it received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is a property and casualty insurer licensed in all 50 states. The acquisition …
$16 Million Part of Federal Funding to Aide Florida with Affordable Housing
The U.S. government is providing almost $12 million to help residents pay rent and mortgages in south Florida, a place that has been called the epicenter of the nation’s affordable housing crisis. The South Florida Times news site reported that …
People Moves: Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO
This edition of International People Moves details appointments at Peak Re and CNA Hardy. A summary of these new hires follows here. Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO Peak Re, a Hong Kong-based global reinsurer, announced the …
Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires
Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance Group Ltd. expired, according to people familiar with the matter. Hang Seng Bank …
Car Crash Into Virginia Pub Injures More Than a Dozen People, 2 Critically
Two people remained in critical condition on Saturday among the more than a dozen who were injured after a vehicle crashed into a northern Virginia pub and restaurant, according to authorities. The crash at the Ireland’s Four Courts establishment in …
Security Firm Finds Cyber Vulnerabilities at Indian Online Insurance Aggregator
NEW DELHI (AP) – Last month, a cyber-security startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers …
Credit Suisse Steps Up $440M Legal Dispute With SoftBank Over Greensill Funds
Credit Suisse has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp. in a $440 million dispute over Greensill-linked funds, two sources familiar with the matter said on Thursday. Switzerland’s second-largest bank is …
Louisiana Car Maintenance Operator Cited for Waiting to Report Stabbing
Federal safety inspectors have cited the operator of several Baton Rouge-area car wash, oil change, fueling and convenience store locations after a workplace violence investigation into the stabbing of an assistant manager on Feb. 6, 2022. The employee was treated …
Lingering La Niña Weather Phenomenon Boosts Threat of More Atlantic Hurricanes
The odds of La Niña hanging around for a few more months are climbing, bolstering chances of more storms as the Atlantic hurricane season reaches its peak. There’s an 80% chance the waters across the equatorial Pacific Ocean will stay …
Reinsurance M&A Slows Amid Macroeconomic Risks, Higher Natural Disaster Claims
Mergers and acquisitions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change, according to Fitch Ratings. “We expect reinsurers to prioritise pricing, risk management and …