INSURANCE NEWS
Lindberg’s Investment Firm Objects to Liquidation of His Former Insurance Companies
An investment group founded by embattled insurance executive Greg Lindberg has filed an objection to North Carolina regulators’ plan to liquidate two of Lindberg’s insurance companies, arguing that the companies could be sold and benefits paid quickly. “We deeply disagree …
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium rate rises for property catastrophe cover in 2023, driven …
Could Recent NotPetya Case Outcomes Pressure Insurers to Reword War Exclusions?
With recent news of multinational food and beverage company Mondelez International settling its lawsuit against its insurer Zurich American Insurance Company over the company’s NotPetya claims, conversation has continued around what this could mean for war exclusion language and definitions …
New York Expects Lifting of Deadline to Bring Wave of Claims by Adult Sex Abuse Survivors
Sexual assault victims in New York will get a one-time opportunity to sue over their abuse starting Thursday, under a new law expected to bring a wave of allegations against prison guards, middle managers, doctors and a few prominent figures …
Widow Asks $55M From NCAA for Football Player’s Death
Attorneys asked a jury Monday to award $55 million to the widow of a former USC football player, in a landmark case accusing the NCAA of failing to protect him from repetitive head trauma that led to his death. Matthew …
Is Britain Starting to Have Second Thoughts About Brexit?
Even after years of division and vitriol, it seems like Britain still needs to talk about Brexit. More than six years after voting to leave the European Union, the UK is facing a prolonged recession, a deep cost-of-living crisis and …
Ardonagh Group to Buy Australian Insurance Investment, Distribution Firm Envest
The Ardonagh Group, the London-based independent insurance distribution platform, announced it has agreed to acquire Envest Pty Ltd., an Australian insurance investment and distribution business. Headquartered in Brisbane, Queensland, Envest operates with a diverse portfolio of brands and a national …
FTX Collapse Ensnares Creditors Big and Small Across the Globe
From a German bank seeking a more than $2 million payment to a Chinese investor requesting $21,000 of lost savings. Claimants around the world who were caught up in the epic collapse of FTX Group are beginning to appear in …
Insurance Journal Releases New Single from First Insurance-Themed Holiday Album
Insurance Journal, a Wells Media Company, is pleased to announce the release of its entertaining first single, “O Property O Casualty“, from the first ever album of Insurance-themed holiday carols – “Have A Claims Free New Year” – due to …
Cyber Protection as Important as Missile Defense Systems: Retired NATO General
A cyber attack on the German ports of Bremerhaven or Hamburg would severely impede NATO efforts to send military reinforcements to allies, retired U.S. General Ben Hodges told Reuters. The European Commission proposed an action plan to bolster cyber defense …
Australia’s Extreme Weather Events to Worsen as Climate Warms: Report
Australia will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government’s chief science and weather agencies. In a dire report released Wednesday …
Indonesia Earthquake Kills 268 Amid Collapsed Homes, Landslides
A quake in Indonesia killed at least 268 people as the search continues for victims amid landslides and collapsed buildings. The 5.6-magnitude earthquake that struck West Java on Monday damaged more than 20,000 homes, leaving thousands injured and hundreds still …