INSURANCE NEWS
Drones, Systems Hack Test Europe’s Aviation Security Defenses
A hack hitting major airports across Europe followed by drone incursions in Copenhagen and Oslo are testing the weak spots of the region’s aviation infrastructure and raising fears about coordinated attacks leading to increased disruption. In Denmark, drones halted flights …
Hong Kong’s Airlines Evacuate Planes as They Wait Out Typhoon Ragasa
As Typhoon Ragasa, the world’s most powerful tropical cyclone this year, approached Hong Kong this week, mass flight cancellations and lost revenue were not the only headache for airlines based at one of the world’s busiest airports. Ahead of the …
Typhoon Ragasa Eclipses Mangkhut in Hong Kong’s Wild Weather Run
Super Typhoon Ragasa’s fierce winds have kept Hong Kong’s most severe storm warning in place for the second-longest ever duration, eclipsing storm Mangkhut but falling short of an all-out record. The city’s highest storm alert, signal No. 10, was in …
People Moves: XS Brokers Promotes Wirkus to CEO, McVicker President
Independent binding authority and wholesale brokerage XS Brokers recently announced Erik Wirkus has been promoted to chief executive officer. Wirkus has served as president of the Quincy, Massachusetts-based company since 2019. He has been with XS Brokers for 16 years, …
New Visa Fees Spur Offshoring Talks, Hiring Turmoil
The Trump administration’s hefty new visa fees for H-1B workers have prompted high-level talks inside companies in Silicon Valley and beyond on the possibility of moving more jobs overseas—precisely the outcome the policy was meant to stop. U.S. President Donald …
Reviving RadioShack Online Turned Into Ponzi Scheme, SEC Claims
A company that snatched up distressed brick-and-mortar brands including RadioShack and Pier 1 Imports and promised investors big returns in a pivot to e-commerce operated as a Ponzi-like scheme, the US Securities and Exchange Commission alleged. When the pandemic sparked …
OneDigital Plans More Expansion With $2.3B Investment from Canada, Stone Point
Atlanta-based insurance and benefits brokerage OneDigital is the beneficiary of a $2.3 billion investment – a majority stake to be taken by the Canada Pension Plan and Stone Point Capital. The investment comes through an acquisition of a stake from …
People Moves: LP Insurance Appoints Thompson as First Chief Financial Officer
LP Insurance named Heather Thompson as its first chief financial officer. Thompson joined LP in 2018 as a financial analyst and was promoted to controller, overseeing all of LP’s accounting and finance operations in 2022. As CFO, she leads LP’s …
ALKEME Acquires New York City Real Estate Specialist Gotham Brokerage
California-based ALKEME Insurance reports it has acquired Gotham Brokerage Co., a New York City insurance agency specializing in insurance for condos, co-ops, and apartments with a concentration in the high-value real estate markets of Brooklyn and Manhattan. The acquisition enhances …
Root Insurance Expands Driving Behavior Product to Washington
Root Insurance has brought its driving behavior insuring pricing model to Washington in an expansion of its West Coast footprint. Root now offers its product to drivers in Washington, Oregon and California. Root’s model is designed to measure driving behaviors …
Michigan Reaches Settlements With Paper Mill Over PFAS Contamination
Michigan Attorney General Dana Nessel has reached two settlement agreements with the current and past owners of a paper mill in White Pigeon, Michigan. The two settlements secure funding for response activities to address per- and polyfluoroalkyl substances (PFAS) released …
Man Pleads Guilty to Setting Fires at 2 Minnesota Mosques
A man who set fires at two mosques in Minnesota in 2023 pleaded guilty to federal charges Wednesday, federal prosecutors said. Jackie Rahm Little, 38, admitted to one count of arson and one count of damage to religious property for …