INSURANCE NEWS

AI Should Run on 100% Renewable Energy by 2030, UN Chief Says

Major tech firms should commit to fully powering data centers with renewable energy by 2030, said United Nations Secretary-General António Guterres. Big tech also must be responsible in its use of water for cooling, Guterres said Tuesday in New York …
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‘We’ll Have to See How This Plays Out,’ Says CEO Berkley on MGA Competitors

The leader of W.R. Berkley Corp. has seen it before—some version of the MGA movie in which delegated underwriting authority is given to market participants whose ambitions aren’t always aligned with capacity providers. President and Chief Executives Officer W. Robert …
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11th Circuit Upholds $1.75M Verdict Against Church Mutual on Georgia Roof Claim

Central Baptist Church of Albany, Georgia, suffered roof damage during a hailstorm in 2014. Its insurance carrier, Church Mutual Insurance, determined that the roof had only minor damage that could be repaired. It offered $2,300 for the work. After the …
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People Moves: Wolfenberger Joins Alliant as VP in California

Steve Wolfenberger joined Alliant Insurance Services, headquartered in Irvine, California, as vice president within its employee benefits group. Based in California, Wolfenberger focuses on delivering customized benefits strategies for mid-sized employers throughout the West Region. Wolfenberger has extensive experience in …
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Heffernan Insurance Brokers Acquires Pac Global Insurance Brokerage, Inc.

Heffernan Insurance Brokers has acquired Pac Global Insurance Brokerage and formally added marine cargo expertise to its suite of services. Located in El Segundo, California, Pac Global joined as Heffernan’s marine cargo specialty practice on April 1. Marine cargo is …
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Lawsuit Says Clorox Hackers Got Passwords Simply by Asking

Bleach maker Clorox said Tuesday it has sued information technology provider Cognizant over a devastating 2023 cyberattack, alleging that the hackers pulled off the intrusion simply by asking the tech company’s staff for employees’ passwords. Clorox was one of several …
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Business Moves: Coverys Agrees to Sell Italy MGA to AnaCap-Backed Edge Group; Portuguese Insurance Broker Universalis Rebrands as Acrisure

Coverys, the Boston-based medical professional liability and healthcare insurer, has signed an agreement for the sale of its Italian managing general agent, AEC Agenzia di Assicurazione e Riassicurazione SpA (AEC), to Edge Group, a leading Italian insurance broking platform. Financial …
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Arizona Governor Tours Wildfire Destruction Along Grand Canyon’s North Rim

Democratic Gov. Katie Hobbs toured the destruction left by a wildfire along the Grand Canyon’s North Rim, on Saturday, surveying what she described as devastating damage. The governor, who has called for an investigation into how the blaze was handled, …
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Attempts to Reform Litigation Funding Disclosure Continue on the Hill

Changes to the taxes paid by litigation investors did not make it in the final version of the expansive One Big Beautiful Bill, but the issue of third-party litigating funding continues to have the attention of at least some lawmakers …
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NC Expands FORTIFIED Roof Grant Program With Another $20 Million

North Carolina’s residual property insurance association is expanding its roof-grant program by $20 million, offering $6,000 to policyholders who upgrade their roofs to the more wind-resistant FORTIFIED standard. “In May, we launched the Strengthen Your Roof program, which invested $20 …
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European Heat Wave Gives Way to Violent Storms and Flooding

Severe storms are triggering flooding in parts of Europe following weeks of extreme heat, while temperatures on the Italian island of Sicily climb to 44C (111F). A powerful low-pressure system delivered heavy precipitation as it moved east into central Europe …
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Prior Knowledge Ends Filmmaker Baldoni’s Coverage for Harassment Claims: Insurer

The insurer for the actor Justin Baldoni and other executives at his movie studio Wayfarer says its policy does not cover actress Blake Lively’s allegations of sexual harassment during the filming of the movie “It Ends With Us.” Wayfarer and …
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