INSURANCE NEWS
People Moves: Specialty MGA Taps BMS’s Conway as Senior MedMal Underwriter; HDI UK & Ireland Names Potter From AXA XL as Director of Liability
This edition of International People Moves details appointments at Specialty MGA and HDI UK & Ireland. A summary of these new hires follows here. Specialty MGA Taps BMS’s Conway as Senior MedMal Underwriter Specialty MGA, the London-headquartered managing general agent …
Flood-Focused Neptune’s IPO Joins Boom in Niche Insurer Debuts
Neptune Insurance Holdings Inc. is hoping its record of growth and profitability selling flood insurance policies will generate the same investor enthusiasm for its US IPO that greeted most debuts by other firms in the sector this year. Like many …
Transportation Department Tightens Noncitizen Truck Driver Rules After Florida Crash
The U.S. Transportation Department tightened commercial driver’s license requirements for noncitizens Friday after three fatal crashes this year that officials say were caused by immigrant truck drivers. The new rules make getting commercial driver’s licenses extremely hard for immigrants because …
Report: Response to Disastrous LA Fires Slowed by Lack of Resources, Outdated Alert Process
A lack of resources and outdated policies for sending emergency alerts led to delayed evacuation warnings as flames began consuming neighborhoods during deadly Los Angeles-area wildfires in January, according to an outside review. The Independent After-Action Report produced by the …
Trump Says US to Impose 100% Tariff on Movies Made Outside the Country
U.S. President Donald Trump said on Monday he would impose a 100% tariff on all foreign-made movies, an unprecedented move that threatens to upend Hollywood’s global business model. The step signals Trump’s willingness to extend protectionist trade policies into cultural …
Hurricane Humberto Will Allow Storm Imelda to Veer Away From US
Hurricane Humberto will likely bulldoze a path for Tropical Storm Imelda to veer away from the coastal US Southeast, sparing the region from a direct strike. Category 4 Humberto’s winds rose to 145 miles (233 kilometers) per hour as of …
Perelman Loses Bid for $400 Million for Less ‘Vibrant’ Art
A New York judge ruled Ron Perelman was not entitled to $400 million from insurers over alleged damage to an Andy Warhol and four other paintings from a 2018 fire at his Hamptons home. Justice Joel M. Cohen’s Friday decision …
Harrods Warns Customers of Data Theft in Latest IT Breach
Customers of Harrods Ltd., the luxury London department store, had their personal data stolen, the latest in a string of cyberattacks and IT breaches affecting major UK businesses this year. Data including names and contact details for some Harrods customers …
French Court Opens New Trial on Air France 447 Air Disaster, After 16 Years
A French appeals court will begin a new trial on Monday of Air France and Airbus, 16 years after a jetliner plunged into the Atlantic killing all 228 people on board. A lower French court cleared both companies of corporate …
OpenAI to Bring Parental Controls in ChatGPT After Teen’s Suicide
OpenAI is rolling out parental controls for ChatGPT on the web and mobile, following a lawsuit by the parents of a teen who died by suicide after the artificial intelligence startup’s chatbot allegedly coached him on methods of self-harm. The …
New Zealand to Ease Strengthening Rules on Quake-Prone Buildings
New Zealand is changing the way it assesses earthquake-prone buildings in an attempt to reduce costs and confusion for owners. The government is implementing clearer definitions to identify buildings that pose a genuine risk to human life in medium and …
Jaguar Land Rover Seeks £2 Billion Lifeline to Tide Over Cyberattack
Tata Motors Ltd.-owned Jaguar Land Rover is raising £2 billion ($2.7 billion) loan from global banks as the luxury carmaker seeks to ease the financial strain of a cyberattack that forced it to halt production, according to people familiar with …