INSURANCE NEWS
Inside Out: How Exit Crime, Insider Threats Are Creating Challenges for Insurers
There has been a lot of talk about how insurance companies are increasingly falling victim to outside cyber attacks, but the risk of insider threats can be just as scary and perhaps a little more difficult to prevent, according to …
Relation Insurance Acquires Maryland’s Insurance, Inc.
Walnut Creek, California-headquartered Relation Insurance Services said it has acquired the assets of Maryland-based Insurance, Inc. Terms of the transaction were not disclosed. Insurance, Inc. provides personal and commercial lines insurance and employee benefits throughout Maryland and is headquartered in …
Britain Initiates Post-Brexit ‘Transformation’ of Financial Services
British financial regulators will have to promote the global competitiveness of the country’s financial sector, though a plan for more government oversight of their work has been put on hold for now, finance minister Nadhim Zahawi said on Tuesday. Zahawi …
Nigeria to Continue $3.5 Billion Civil Claim Against Shell and Eni
Nigeria will continue its $3.5 billion civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings against the companies, a lawyer representing Africa’s largest crude producer said. The West African country, which joined the case as …
NEXT, Thimble Latest Insurtechs to Announce Layoffs This Year
NEXT Insurance and Thimble are the latest insurtechs to lay off part of their workforce this year, with NEXT citing challenging economic conditions and both insurtechs pointing to an increased focus on profitability. NEXT laid off 17% of its workforce …
Apple Sued Over Antitrust Violations Involving Apple Pay
Apple Inc. was sued on Monday in a proposed class action by payment card issuers accusing the iPhone maker of abusing its market power in mobile devices to thwart competition for its Apple Pay mobile wallet. According to a complaint …
NTSB: Helicopter Descended Quickly in Deadly Crash During Severe New Mexico Fire Season
Evidence indicates that a helicopter that crashed in northern New Mexico after helping fight a wildfire over the weekend descended at a fast rate, with the craft ending up mangled and in pieces after first hitting the ground upright, the …
Alera Group Acquires DFG 401(k) in Arizona
Alera Group acquired DFG 401(k) Advisors in Phoenix, Arizona. The firm joins Alera Group under the name BCG 401(k) Advisors through Benefit Commerce Group (BCG), an Alera Group company headquartered in Scottsdale, Arizona. The BCG 401(k) Advisors team will continue …
SEC Approves Demotech as NRSRO
Insurance rating agency Demotech Inc. has become the tenth organization to named a Nationally Recognized Statistical Ratings Organization (NRSRO) by the U.S. Securities and Exchange Commission. With the new designation, Demotech joins the likes of A.M. Best, Fitch Ratings, S&P …
Meta VR Rival Claims It Was Obliterated When Facebook Took Its Name
A Meta Platforms Inc. rival claims in a federal trademark infringement lawsuit that its business has been obliterated after Facebook adopted its name. Closely held MetaX LLC said since October 2021, when Facebook rebranded as Meta Platforms, its ability to …
Lawsuit Filed After Autistic Utah Boy Dies in Hot Car Settled
A wrongful death lawsuit filed after an 11-year-old autistic boy was left in a hot car while under the watch of a care facility in Utah has been settled. The lawsuit filed against Roost Services and some of its employees …
Officials Suggest Pipeline Company Hid Problems After Montana Spill
U.S. prosecutors suspect a Wyoming company of potentially concealing problems with a pipeline that broke in 2015 and spilled more than 50,000 gallons of crude into Montana’s Yellowstone River, fouling a small city’s drinking water supply, court filings show. The …