INSURANCE NEWS

Pandemic, Labor Shortage Keep Hurricane Victims in Limbo

Nearly six years after flood damage from Hurricane Matthew displaced Thad Artis from his home in Goldsboro, North Carolina, he has still not been placed in permanent housing. Living alone in a motel for the last two years, growing increasingly …
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AMBest Report Shows Florida Insurers Far Out of Line on Reinsurance Dependency

Mango Questions State-Run Ratings Agency Idea Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best financial rating firm said. Despite that, AM Best is willing …
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New Hampshire Moves to Assist Birthing Centers, Midwives With Insurance Costs

The New Hampshire Joint Legislative Fiscal Committee approved a request from the Sununu Administration to use $252,000 in federal pandemic aid to offset the cost of premium increases for birthing centers and home birth midwives. The state Department of Health …
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Insurance Technology Firm Xceedance Opens Global Headquarters in Massachusetts

Xceedance, a global provider of technology and data services to insurance organizations, has open a new global headquarters in central Massachusetts in the city of Worcester. The company said the new Massachusetts office on Mercantile Street in downtown Worcester reflects …
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People: IQUW Taps Lancashire’s Warburg as Head of Reinsurance, London; Gallagher Re Names Swiss Re’s Choniski as Head of Embedded Insurance

IQUW Taps Lancashire’s Warburg as Head of Reinsurance, London Property and specialty re/insurer IQUW has named Dan Warburg as its new head of Reinsurance, London. Based in London, he will report to Steven Tebbutt, active underwriter, IQUW Syndicate 1856 and …
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Greek-Managed Vessel Shipped Coal From Russia Despite EU Sanctions

A vessel managed by a company based in Greece transported coal from a port in Russia late last month, after European Union sanctions on the commodity had come into force, according to maritime data reviewed by Bloomberg. The ship, the …
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NFL Is Latest Target in Lawsuits Over Data-Sharing With Meta

The National Football League was sued for allegedly sharing digital subscribers’ personal data with Meta Platforms Inc.’s Facebook, becoming the latest target of consumers claiming companies pass on private information to the social media site without their consent. NFL.com subscriber …
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Tesla Sued by Drivers Over Alleged False Autopilot, Full Self-Driving Claims

Tesla Inc. was sued on Wednesday in a proposed class action accusing Elon Musk’s electric car company of misleading the public by falsely advertising its Autopilot and Full Self-Driving features. The complaint accused Tesla and Musk of having since 2016 …
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Fire at E-scooter Showroom in India Kills 8, Adding to Vehicles’ Safety Concerns

MUMBAI – A fire that started at an electric scooter showroom in India killed at least eight people and injured 11, police said on Tuesday, in what is the deadliest such incident involving electric vehicles in the country. A spate …
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Singapore Plans Financial Services Overhaul to Boost Sustainable Finance, Reinsurance

Singapore announced plans on Thursday to overhaul its financial services industry by 2025 in a bid to cement its position in a “key battleground” to fight climate change, mobilizing capital to support sustainable financing and green fintech. The “Industry Transformation …
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Fitch Rates California Earthquake Authority’s New Revenue Bonds ‘A-‘

Fitch Ratings assigned an ‘A-‘ rating to the $500 million revenue bond issuance by The California Earthquake Authority. According to the rating agency, the CEA’s ratings reflect a risk transfer strategy that will set its minimum and maximum aggregate claims-paying …
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Restaurants Facing New Challenges These Days: Getting More From Insurance Coverage

If the past two years have taught us anything, it’s that anything can happen. There are dozens of unforeseen possibilities that could leave your business financially liable or could otherwise discourage guests from returning. And in the restaurant industry, that …
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