INSURANCE NEWS
After Hedge Fund Interest, UK’s Flood Re Plans More Cat Bonds
Britain’s ultimate backstop against flood-related losses is planning to rely more on the capital markets, after its first ever catastrophe bond drew a lot of interest from specialist investors including hedge fund Fermat Capital Management. Flood Re, a state-backed insurance …
How China Is Masking Drone Flights in Potential Taiwan-Invasion Rehearsal
A large Chinese military drone has conducted regular flights over the South China Sea in recent months while transmitting false transponder signals that made it appear to be other aircraft, including a sanctioned Belarusian cargo plane and a British Typhoon …
Heavy Rains Kill Dozens in Southeast Brazil as Flood Risks Mount
Heavy rains that began Monday night have left dozens dead and caused widespread destruction in southeastern Brazil, exposing a longstanding structural problem of housing in high-risk areas vulnerable to seasonal downpours. Storms in the state of Minas Gerais caused rivers …
Corporate Treasuries Are Slow to Adopt AI, Survey Finds
Treasury departments in global companies are struggling to adopt artificial intelligence tools, according to a Crisil Coalition Greenwich survey, underscoring how slowly the technology is penetrating a critical function in corporate finance. Crisil’s survey of 100-plus firms from the US, …
Amazon Loses Bid to Throw Out 2 Mass Lawsuits From UK Retailers, Consumers
Amazon on Thursday lost its latest bid to try to throw out two mass lawsuits from retailers and consumers worth up to 4 billion pounds ($5.41 billion) for allegedly abusing its dominant position. Andreas Stephan, a competition law academic, brought …
Sweden Tells Energy Sector to Raise Security, but Faces no Specific Threat
Sweden has told its energy industry to raise security levels following a recent cyberattack on Polish infrastructure, although this was not in response to a specific threat, the Nordic country’s signal intelligence agency said on Thursday. Swedish TV4, citing unnamed …
Vanguard Settles Collusion Suit for $29.5 Million
Texas said Vanguard Group Inc. agreed to pay a total of $29.5 million to settle a lawsuit brought by a dozen states that accused the asset manager of colluding to manipulate the energy market and reduce coal output. As part …
Ford Recalling 4.3 Million US Vehicles Over Software Issue
Ford Motor Thursday it is recalling 4.3 million pickup trucks and SUVs in the U.S. because a software error may cause trailer brakes not to function and exterior lights to fail. The U.S. automaker said the recall covers the 2021 …
Walmart to Pay $100 Million to Settle FTC Case on Driver Wages
Walmart Inc. agreed to pay $100 million Thursday to settle a lawsuit by the US Federal Trade Commission and a group of states alleging the company withheld tips and misrepresented wages to drivers who deliver orders as part of its …
Hacker Used Anthropic’s Claude to Steal Mexican Data Trove
A hacker exploited Anthropic PBC’s artificial intelligence chatbot to carry out a series of attacks against Mexican government agencies, resulting in the theft of a huge trove of sensitive tax and voter information, according to cybersecurity researchers. The unknown Claude …
People Moves: Byrd Joins Alliant as Employee Benefits SVP in North Carolina
Byrd Joins Alliant as Employee Benefits SVP in North Carolina Backed by over 25 years of experience, Steve Byrd joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president within its employee benefits group. Based in North Carolina, …
State Farm Inked $1.5B Underwriting Profit for 2025 but HO Loss Persists
State Farm reported an underwriting gain of $1.5 billion for its property/casualty businesses in 2025, representing a turnaround from an underwriting loss of more than $6 billion in 2024—and more than $10 billion of underwriting losses in each of the …