INSURANCE NEWS
People Moves: Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO
This edition of International People Moves details appointments at Peak Re and CNA Hardy. A summary of these new hires follows here. Hong Kong Reinsurer Peak Re Appoints Nowakowski as CUO Peak Re, a Hong Kong-based global reinsurer, announced the …
Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires
Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance Group Ltd. expired, according to people familiar with the matter. Hang Seng Bank …
Car Crash Into Virginia Pub Injures More Than a Dozen People, 2 Critically
Two people remained in critical condition on Saturday among the more than a dozen who were injured after a vehicle crashed into a northern Virginia pub and restaurant, according to authorities. The crash at the Ireland’s Four Courts establishment in …
Security Firm Finds Cyber Vulnerabilities at Indian Online Insurance Aggregator
NEW DELHI (AP) – Last month, a cyber-security startup told a major Indian online insurance brokerage it had found critical vulnerabilities in the company’s internet-facing network that could expose sensitive personal and financial data from at least 11 million customers …
Credit Suisse Steps Up $440M Legal Dispute With SoftBank Over Greensill Funds
Credit Suisse has applied to the English High Court to initiate formal legal proceedings against Japan’s SoftBank Group Corp. in a $440 million dispute over Greensill-linked funds, two sources familiar with the matter said on Thursday. Switzerland’s second-largest bank is …
Louisiana Car Maintenance Operator Cited for Waiting to Report Stabbing
Federal safety inspectors have cited the operator of several Baton Rouge-area car wash, oil change, fueling and convenience store locations after a workplace violence investigation into the stabbing of an assistant manager on Feb. 6, 2022. The employee was treated …
Lingering La Niña Weather Phenomenon Boosts Threat of More Atlantic Hurricanes
The odds of La Niña hanging around for a few more months are climbing, bolstering chances of more storms as the Atlantic hurricane season reaches its peak. There’s an 80% chance the waters across the equatorial Pacific Ocean will stay …
Reinsurance M&A Slows Amid Macroeconomic Risks, Higher Natural Disaster Claims
Mergers and acquisitions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change, according to Fitch Ratings. “We expect reinsurers to prioritise pricing, risk management and …
Hub International Acquires Canada Broker Jaimac Risk Management
Hub International Ltd., the Chicago-based insurance brokerage and financial services firm, announced it has acquired Jaimac Risk Management Inc. Terms of the transaction were not disclosed. Located in Ottawa, Ontario, Canada, Jaimac is an independent insurance brokerage specializing in risk …
Family of Michigan Woman Killed by Exploding Air Bag Sues GM, Others
The family of a Michigan woman who was killed after an air bag module exploded in her SUV following a crash filed a lawsuit alleging negligence. The complaint was filed last Thursday in Houghton County Circuit Court and names Arc …
Peloton Must Face Lawsuit Over Availability of Fitness Classes
A U.S. judge on Thursday said Peloton Interactive Inc. must face a proposed class action lawsuit accusing the bike and treadmill maker of misleading customers about the “ever-growing” size of its library of on-demand fitness classes. The lawsuit stemmed from …
South Carolina Woman Dies After Being Impaled by Beach Umbrella
A beachgoer was killed Wednesday after a loose beach umbrella impaled her in the chest, authorities said. The umbrella was blown from its anchoring by the wind around 12:40 p.m. and hit Tammy Perreault while she was at a Garden …