INSURANCE NEWS
India Considers Introducing Nationwide Climate-Linked Insurance Scheme
India’s government has begun early-stage talks with local insurers about designing a nationwide climate-linked insurance program aimed at simplifying the payout process after extreme weather events such as heatwaves and floods. The scheme would adopt a parametric insurance model, where …
Malaysia’s Weststar Secures $309 Million Funding for Expansion
Malaysia’s financial services firm MBSB Bhd will provide MYR1.3 billion ($309 million) in funding to support the expansion of Weststar Aviation Services Sdn Bhd, the aviation arm of The Weststar Group, the Edge newspaper reported Friday, citing a statement. The …
Rural Texas Communities Weigh Pros and Cons of Data Centers
Kendra Kay loved growing up in the quiet of West Texas. She enjoyed the peacefulness brought in by the open lands. She appreciated how everyone in her community had a purpose and contributed to their way of life. She never …
Activision Officials Must Face Claims Over Microsoft Takeover, Judge Rules
A Delaware judge said former Activision Blizzard officials including Chief Executive Bobby Kotick must face most of a lawsuit alleging they shortchanged shareholders when Microsoft bought the “Call of Duty” game maker for $75.4 billion. Chancellor Kathaleen McCormick of the …
Cyber Group Extorts Executives After Claiming Oracle Apps Breach
Executives at large organizations are being extorted by a notorious ransomware group, which claims to have stolen data from them via Oracle Corp.’s popular E-Business Suite applications, according to a Google cybersecurity executive and three others familiar with the matter. …
Florida Was a Top Destination for Immigrants in Recent Years — and Economy Grew
After Paola Freites was allowed into the U.S. in 2024, she and her husband settled in Florida, drawn by warm temperatures, a large Latino community and the ease of finding employment and housing. They were among hundreds of thousands of …
Florida Chemical Plant Releases Toxic Vapor Cloud But No Injuries Reported
A toxic cloud of chemicals was released from an industrial site near Cocoa Beach last week, but authorities said no one was seriously injured, and the leak has been repaired. Florida Today and other news outlets reported that about 10 …
Florida’s Citizens is Deferring Flood Coverage Proof While NFIP is Shut Down
Florida’s Citizens Property Insurance Corp. is deferring the required proof of flood insurance while the federal government shutdown continues and the National Flood Insurance Program is in limbo. “Citizens will accept applications and defer the required proof of flood coverage …
California State University Targeted by EEOC Antisemitism Inquiry
Federal officials have opened inquiries into California State University for allegations of antisemitism and claims of racial discrimination tied to a diversity hiring initiative. The U.S. Equal Employment Opportunity Commission has launched an investigation into claims of antisemitism and was …
OpenAI Says Musk’s xAI Filed Secrets Suit to ‘Bully’ Ex-Workers
OpenAI Inc. says a lawsuit accusing it of stealing technology from xAI is just Elon Musk’s latest attempt to distract attention from the failures of his own generative artificial intelligence company. “Unable to match OpenAI’s innovation, xAI has filed this …
White Mountains Insurance to Sell Unit to CVC in $1.75 Billion Deal
White Mountains Insurance said on Friday it would sell a controlling interest in insurance distribution platform Bamboo to European private equity firm CVC in a deal that values the company at $1.75 billion. Shares of Hamilton, Bermuda-based White Mountains jumped …
More NC Outer Banks Homes Collapse into Surf as Hurricanes Stay Far Offshore
Six unoccupied houses along North Carolina’s Outer Banks have collapsed into the ocean as Hurricanes Humberto and Imelda rumble in the Atlantic, the latest private beachfront structures to fall as sea levels rise due to global warming. Five of the …