INSURANCE NEWS
Hackers Breached Propulsion System of US-Bound Oil Tanker
FBI and US Coast Guard investigators have found evidence that hackers accessed the propulsion system of an oil supertanker as it was approaching the Texas coast this summer, according to US officials familiar with the matter, an extraordinary breach that …
Sedgwick: Property Claims Face Delays, Are Growing More Complex
Despite the promise of artificial intelligence and other technology to improve and speed the insurance process, property claims face delays and growing complexity, according to a new report that also shows claims costs are under pressure. Several factors are putting …
Prime London Homes Are Increasingly on Frontlines of Extreme Weather
More than a decade into a downturn caused by tax hikes, economic and political shocks, London’s high-end housing market has a new villain to contend with — intractable heat and flood risks. The assessment comes from Prime Purchase, the branch …
Gronkowski Now Pitchman for eMaxx, a Reciprocal With a Different Playbook
Rob Gronkowski, the star former pro football player and pitchman for USAA insurance, will now call audibles for eMaxx Assurance Group, a Tampa-headquartered provider of a new type of risk-managed, captive-based commercial insurance. “The Gronkowski and the McCarthy families have …
Houston and Dallas Face Risk of Floods as Storms Sweep Texas
Houston and Dallas face more flooding rains Friday as storms continue to sweep across the eastern third of Texas, where thousands are without power and hundreds of flights were canceled Thursday. Dallas Fort Worth International Airport reported 3.47 inches (9 …
Business Moves: Everest Completes Sale of Canadian Retail Operations to Wawanesa; Arthur J. Gallagher & Co. Buys New Zealand’s Albany Insurance Services
Everest Group Ltd., the Bermuda-based specialty re/insurer, announced the completion of the previously announced sale of its Canadian retail Insurance operations, to Wawanesa Mutual Insurance Co. In connection with the Everest acquisition, Wawanesa launched a unit called “WSI,” which comprise …
Florida Insurance Agent Pleads Guilty in $300,000 Premium Finance Scheme
A Florida insurance agent faces years in prison after he pleaded guilty to fraudulently arranging more than $300,000 in premium financing for fake companies, then diverting much of the money to his personal use. Daniel Raney, 41, who managed Raney …
US P/C Insurers See Fewer Ratings Downgrades in H1 2026 on Improved Performance
The US property/casualty insurance segment saw substantially fewer ratings downgrades and more ratings upgrades in the first half of 2026 — mostly related to either poor or improved operating performance, according to AM Best. There were about half as many …
AI Tools Suspected in Korea’s Shinhan Bank Hack, Yonhap News Reports
Advanced artificial intelligence tools may have been used in a cyberattack on South Korea’s Shinhan Bank Co. that exposed information on about 25,000 customers, Yonhap News reported, highlighting the risk of automated hacking against financial institutions. Attackers probably used sophisticated …
To Shield Its Parishes, Vermont Diocese Wants to Pull Its Bankruptcy Filing
Facing a ruling that could expose its local parishes and schools to liability, no progress in settlement talks, and rising litigation costs, the Roman Catholic Diocese of Burlington, Vermont has taken the unusual step of asking the U.S. bankruptcy court …
California AG Bonta Issues Subpoena to OpenAI over AI Cybersecurity Risks
California Attorney General Rob Bonta has issued an investigative subpoena to OpenAI, as part of a broader inquiry into cybersecurity incidents and risks related to its AI models, his office said on Thursday. Last month, Bonta announced that the Department …
No Lights, No Radio: Getting Oil Through Strait of Hormuz Is a Risky Job
The tanker captain summoned his years of experience when he saw the blast in front of him. He veered his 300-meter-long ship around the vessel ahead and could see a fire had started. He called the US Navy to tell …