INSURANCE NEWS
Insurtech Lemonade Launches in UK
Lemonade, the New York City-based insurer that is powered by artificial intelligence, has launched in the United Kingdom, following previous moves in France, Germany, and the Netherlands. Founded in 2015, Lemonade launched its flagship renters insurance in the U.S. in …
People Moves: Canopius Names QBE’s Corrigan as Head of Change; Howden Taps AXA XL’s Lutgen as COO, Europe; IGI Hires Canopius’ Jarvis as CUO
This edition of International People Moves details appointments at re/insurers Canopius Group and International General Insurance Holdings Ltd. as well as the broker Howden. A summary of these new hires follows here. Canopius Names QBE’s Corrigan as Group Head of …
Social Media Company Liability Draws US Supreme Court Scrutiny
The US Supreme Court will decide whether social media companies can be sued over targeted content recommendations, agreeing to hear an appeal from a family that says Alphabet Inc.’s Google bears some of the responsibility for a 2015 ISIS terrorist …
Ex-PG&E Execs Paying $117M To Settle California Wildfires Lawsuit
Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment. The settlement was announced by the PG&E Fire Victim …
Chinese Hackers Suspected in Tampering With Comm100’s Client-Chat Program
Suspected Chinese hackers tampered with widely used software distributed by a small Canadian customer service company, another example of a “supply chain compromise” made infamous by the hack on U.S. networking company SolarWinds. U.S. cyber-security firm CrowdStrike said in a …
EU Proposes Exempting Maritime Pilot Services From Russia Oil Ban
The European Union proposed making so-called pilot services exempt from sanctions targeting the transfer of Russian oil that are set to kick in this year to punish Moscow for its invasion of Ukraine. The exception, which would allow shipowners to …
Russia May Start Providing Trade Finance to Importers of Its Grain: Agriculture Minister
Russia may start providing trade finance to importers of its grain as sanctions imposed on Moscow since it sent troops to Ukraine affect this financial instrument, Agriculture Minister Dmitry Patrushev said. Russia, the world’s largest wheat exporter, is working with …
New York Surgeon Pleads Guilty to Participating In $31M Trip-and-Fall Fraud
A New York doctor last week pled guilty to performing unnecessary surgeries as part of a scheme by doctors and lawyers to obtain insurance reimbursements and other compensation from fraudulent trip-and-fall accidents, according to federal prosecutors. A litigation funding company …
Ian Again Shows the Risks and Costs of Living on Barrier Islands
When Hurricane Ian struck Florida’s Gulf Coast, it washed out the bottom level of David Muench’s home on the barrier island of Sanibel along with several cars, a Harley-Davidson and a boat. His parents’ house was among those destroyed by …
Analysis Shows Climate Change Increased Ian’s Rainfall Amounts by 10%
Human-induced climate change, long denied by some elected officials in the states pounded by Hurricane Ian, made the storm’s most extreme rainfall about 10% worse than it would have been without two centuries of greenhouse gas pollution, according to a …
Indonesia Soccer Stampede Kills at Least 131 as Police Use of Tear Gas Questioned
At least 131 people died after police fired tear gas to dispel rioters at a soccer match in Indonesia, triggering a stampede as fans panicked and ending in one of the world’s worst stadium disasters. Questions are being raised over …
Optus’ Parent Company Singtel Assesses Potential Cost of Australia Data Breach
Singapore Telecommunications said on Monday it was assessing the potential cost of a massive cyber-security breach at its Optus arm, Australia’s second-largest telco, 12 days ago. In its second comment on the breach of private data from 10 million accounts, …