INSURANCE NEWS
Alaska Experiencing Wildfires It’s Never Seen Before
Alaska is burning this year in ways rarely or ever seen, from the largest wildfire in a typically mainly fireproof southwest region to a pair of blazes that ripped through forests and produced smoke that blew hundreds of miles to …
Alpine Glaciers Decline at Record Rates Following Heatwaves
MORTERATSCH GLACIER, Switzerland – From the way 45-year-old Swiss glaciologist Andreas Linsbauer bounds over icy crevasses, you would never guess he was carrying 10 kg of steel equipment needed to chart the decline of Switzerland’s glaciers. Normally, he heads down …
Alex Jones’ Defamation Trial Set to Begin in Texas
Jury selection was set for Monday in a trial that will determine for the first time how much Infowars host Alex Jones must pay Sandy Hook Elementary School parents for falsely telling his audience that the deadliest classroom shooting in …
Markets/Coverages: Openly’s New Homeowners Carrier; Neptune Flood, SIAA Partnership; MiKargo247 Launches for Per-Load Freight
Openly Starts Openly Insurance Company, a Licensed Homeowners Insurance Carrier Openly announced the launch of the Openly Insurance Company, a homeowners insurance carrier licensed in 17 states. Openly had formerly operating solely as a MGA. The announcement was made only …
Auto Claimants Waiting Longer for Collision Repairs
Auto claimants are waiting longer for collision repairs — 4.5 days longer this spring compared to the same period last year, according to a report released Friday by Enterprise Rent-a-Car. Enterprise extrapolated repair times by tracking the average length of …
Record Temperatures, Wildfires Wreak Havoc on Europe’s Wineries and Vineyards
In Portugal’s Douro Valley on July 7, a wildfire burned close to Oscar Quevedo’s Quinta da Alegria vineyard. By the middle of the night, flames surrounded it. The vines around the edges, amounting to about a hectare, burned. In his …
Japanese Insurers Sell Heatstroke Coverage as Temperatures Soar to Record Levels
As temperatures soar to unprecedented levels from Europe to Asia this summer, some Japanese insurance companies have begun selling policies to protect people struck down by the heatwave. Sompo Holdings Inc. and Sumitomo Life Insurance Co., two of the country’s …
Return of Coal as Alternative to Russian Gas Threatens European Firms’ ESG Ratings
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them scrambling to impress investors still vocal on sustainability. Despite an energy crisis following sanctions on Russia, major …
One-Quarter of Firms Operating at Lloyd’s Reach 35% Target for Women Leaders
A quarter of firms operating at Lloyd’s of London have reached the commercial insurance market’s target for 35% of leaders to be women, though progress on diversity was “incremental,” Lloyd’s said in a report on Monday. Lloyd’s has been trying …
Insurtech Funding Levels Hold Steady in Q2 vs. Q1: CB Insights
Funding for the insurtech sector held steady in the second-quarter of 2022, coming in at roughly $2.4 billion, the same as the overall funding figure recorded for first-quarter 2022, according to data released by CB Insights last week. The consistent …
Uber Admits Covering Up 2016 Hacking, Avoids Prosecution in U.S. Settlement
Uber Technologies Inc. on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges. In entering a non-prosecution agreement, Uber admitted …
U.S. Sues Chicken Producers, Alleging They Conspired to Keep Wages Down
US poultry producers Cargill Inc., Sanderson Farms Inc. and Wayne Farms LLC agreed to pay $84.8 million restitution for conspiring to lower wages for workers at chicken slaughterhouses as part of a settlement with the US Justice Department. The US …