INSURANCE NEWS
Markets/Coverages: Beazley, Paragon Partner on Weather Guard; Praedicat, Experian Collaborate on D&O Models; Armadillo Expands With 100 Agencies
Beazley to enter distribution partnership with Paragon for Weather Guard Specialty insurer Beazley announced a new, efficient and effective online portal solution for its leading Weather Guard product. The new robust online portal, created in partnership with Paragon, will provide …
Insurer Loses $500K in Beer Pong Challenge by Badly Misplaying Liquor Liability Claim
An insurer that mishandled a liquor liability claim resulting from a fight after a beer pong tournament has discovered the tab is considerably bigger than it first thought. Hospitality Mutual Insurance Co. will have to pay $500,000 plus legal costs …
California Wildfires Lead to Evacuations Amid Heat Wave
California wildfires erupted Wednesday in rural areas, racing through bone-dry brush and prompting evacuations as the state sweltered under a heat wave that could last through Labor Day. Gov. Gavin Newsom declared a state of emergency with temperatures expected to …
California Electric Car Rule Includes Equity Goals
Discounted prices, car-share programs and at least one million more public charging stations are among the ways California will try to make electric cars easier to buy and drive as it phases out the sale of gas-powered cars. But the …
Italian Oil Giant Eni Hit by Cyber Attack
The Italian oil giant Eni SpA said Wednesday that its computer networks were hacked in recent days and that the consequences so far appeared to be minor. “Eni confirms that the internal protection systems have detected unauthorized access to the …
EU Urged to Simplify Life for Companies by Aligning Climate Reporting With Int’l Rules
The European Union should make extra time to align its policies with international rules on reporting on climate change to save time in the long run and simplify life for companies, global standard setting board said on Wednesday. That could …
London’s Financial Services Firms See Potential in Liz Truss’ ‘Radical’ Policies
After an international career in finance, a rapid political rise and high profile as chancellor of the exchequer during the pandemic, Rishi Sunak must have expected the full-throated backing of the financial sector when he made a bid to lead …
Mapping US Coastlines May ‘Drive More Equality’ in Climate Adaptation Policy
A Canadian technology company is using aerial imagery to build high-precision maps of US shorelines that will be used to help coastal communities adapt to climate change. By cataloguing which neighborhoods have more impervious surfaces like sidewalks and driveways compared …
Starbucks Executives, Directors Are Sued Over Diversity Policies
Starbucks Corp. executives and directors have been sued by a conservative think tank that believes the coffee chain’s efforts to promote diversity amount to racial discrimination. In a complaint filed on Tuesday, the National Center for Public Policy Research objected …
More Frequent, More Expensive Cyberattacks Spur US Spending on IT
A new study from insurer Hiscox shows that cyberattacks on U.S. businesses are more frequent and more expensive than ever before. The annual Hiscox Cyber Readiness Report, which gauges businesses’ preparedness to combat cyber incidents and breaches, surveyed over 5,000 …
Crossing the Rubicon (Again): New Arrests in Florida Insurance Schemes
Those familiar with insurance fraud schemes in Florida will remember Operation Rubicon. That was the year-long investigation by Miami-Dade and Florida authorities into an alleged property insurance fraud scheme that involved public adjusters, restoration companies, insurance agents, a police officer …
Despite Supreme Court Win, Most Maine Religious Schools Shun State Funding
Parents of children enrolled in Maine religious schools fought for years — all the way to the U.S. Supreme Court — for the state to treat tuition reimbursements the same as other private schools. But only one of the religious …