INSURANCE NEWS
The Fidelis Partnership Launches Accident & Health MGA, Corsiam
Pine Walk Capital Ltd., the specialist MGA platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Corsiam Specialty Ltd., a new accident & health managing general agent (MGA). Backed by The Fidelis Partnership Syndicate 3123 …
Private Credit Could Amplify Shock in Next Crisis, Fitch Says
Private credit could be a “meaningful” transmission channel during the next crisis, amplifying a systemic shock to the financial system with negative repercussions for a broad range of investors, according to Fitch Ratings. The fast-growing asset class has already exhibited …
Chinese Hackers Breached Foreign Ministers’ Email Servers
Chinese hackers breached email servers of foreign ministers as part of a years-long effort targeting the communications of diplomats around the world, according to researchers at the cybersecurity firm Palo Alto Networks Inc. Attackers accessed Microsoft Exchange email servers, gaining …
Lengthy Government Shutdown to Impact Insurers, Says AM Best
Unless Congress reaches a compromise on funding by midnight, there will be no budget and the government will shut down—sending out waves of implications that will disrupt the insurance industry, according to AM Best. “The potential government shutdown coincides with …
Volkswagen Loses Top Court Case Over Diesel Deal With Ex-CEO
Volkswagen AG lost an appeals case in Germany’s highest civil court over the shareholders’ approval of a settlement with former Chief Executive Officer Martin Winterkorn over his role in the diesel-emissions scandal that cost the company more than €30 billion …
Marsh Names Fred Smith Florida Risk Management Leader
Marsh, the global insurance broker and risk advisor, has named Fred Smith the Florida corporate and risk management segment leader, overseeing service for large and middle-market clients in the state. Smith will relocate to Miami from New York and report …
New York Financial Services Regulator Harris to Depart
New York Governor Kathy Hochul announced that Superintendent Adrienne Harris will be leaving the Department of Financial Services (DFS). Hochul is appointing Kaitlin Asrow as acting superintendent of DFS effective October 18, 2025. “I’d like to thank Superintendent Harris for …
Canada’s WestJet Says Some Passenger Data Exposed in Cybersecurity Breach
Canadian carrier WestJet said on Monday the personal information of some passengers was exposed in a cybersecurity breach earlier this year, though no payment data was compromised. The airline said it detected suspicious activity on June 13 and later determined …
Asahi Suspends Some Beverage Shipments After Hit by Cyberattack in Japan
Asahi Group Holdings Ltd. suspended some beverage shipments on Monday after a cyberattack hobbled some of the drinks company’s operations in Japan. The maker of Asahi and Peroni beer said the disruption from the system failure is so far limited …
Cargo Ship Hit by Explosive Device off Yemen’s Coast
A cargo ship was hit by an explosive device near Yemen and caught fire, injuring two seafarers. The Netherlands-flagged Minervagracht, a relatively small general cargo ship, is currently on fire in the Gulf of Aden, its manager Spliethoff said in …
Louisiana FedEx Location Sued for Sexual Harassment
Federal Express Corporation (FedEx) violated federal law by subjecting a female administrator at the company’s St. Rose, Louisiana location to sexual harassment and firing her when she refused to continue to work with her harasser, the U.S. Equal Employment Opportunity …
People Moves: QBE North America Appoints Cunningham Environmental Underwriting Leader; Gramling Joins Alliant as SVP, Employee Benefits
QBE North America Appoints Cunningham as SVP and Environmental Underwriting Leader QBE North America, headquartered in New York City, appointed Jayne Cunningham as senior vice president and environmental underwriting leader, reporting to Dan Fortin, president of specialty insurance. Based in …