INSURANCE NEWS
M&S, Co-op Cyberattackers Duped IT Help Desks Into Resetting Passwords, Report Says
Cyberattacks on Britain’s Marks & Spencer and Co-op Group started with hackers impersonating employees while contacting the retailers’ IT help desks, technology specialist site BleepingComputer reported. The site said the hackers were able to convince the help desks to reset …
Q1 Has Lowest Insurance Agency M&A in 5 Years; Mega Deals Coming?
The first three months of 2025 were the slowest quarter for insurance agency mergers and acquisitions since the second quarter 2020, according to investment banking and financial consulting firm OPTIS Partners. The total number of insurance agency mergers and acquisitions …
Money Laundering Risks Remain High in Switzerland, Financial Regulator Says
Money laundering and cyber risks remained high in Switzerland, the head of the country’s financial market regulator said on Monday, while there was an increasing risk of individuals and trying to get around financial sanctions on Russia. Money-laundering risks were …
Florida Bill Passes Making it Easier for Agents to Seek Surplus Lines Coverage
Starting July 1, Florida insurance agents will no longer need to make a “diligent effort” to find coverage for hard-to-place properties before turning to surplus lines insurance if the governor signs House Bill 1549 into law. But a separate bill …
Oregon’s Compensable Worker Fatalities Down in 2024, Report Shows
Oregon saw a drop in worker deaths last years, according to newly released data from the state’s Department of Consumer and Business Services. But despite the overall decline, the numbers show that certain industries—particularly logging and construction—continue to carry some …
Ex-State Trooper Found Guilty of Taking Bribes to Pass Commercial Drivers
A former Massachusetts state police sergeant was found guilty Friday of taking part in a scheme to take bribes, including a new snowblower and a driveway, in exchange for giving passing scores on commercial driving tests. Gary Cederquist, 59, of …
Message App That Waltz Was Seen Using Is Probing Possible Breach
TeleMessage, the message-archiving app that former National Security Adviser Michael Waltz appeared to be using in a photograph of him communicating with other Trump administration officials, is investigating whether hackers exploited its technology. A spokesperson for TeleMessage confirmed the inquiry …
11 Face Charges in NY School Hazing That Allegedly Included Staged Armed Abduction
Members of a high school lacrosse program in upstate New York are accused of staging an armed abduction of younger players in a stunt that “went way beyond hazing,” prosecutors said this week. All 11 people believed to be involved …
Spain Discloses New Power Grid Failure on Day of the Blackout
Spain’s high-voltage electricity grid suffered more power generation disruptions than previously known ahead of the country’s largest ever blackout, the government said. “There is new information: there was a third loss of power generation” that occurred 19 seconds before the …
In The Wake of Devastating LA Fires, Residents Begin to Rebuild
Nearly four months after wildfires reduced thousands of Los Angeles-area homes to rubble and ash, some residents are starting to rebuild. In the Pacific Palisades neighborhood, construction workers recently began placing wooden beams to frame a house on a lot …
Insurers Paid $612M on Kansas Storm Damage Claims in 2024
Kansas Insurance Commissioner Vicki Schmidt released data last month on the amount paid by insurance companies for Kansas storm damage claims in 2024. In 2024, reported storm claims totaled 56,778 and the amount paid out on those claims by insurance …
TWFG Acquires Agencies in Texas and North Carolina
TWFG, Inc., a high-growth insurance distribution company, announced the acquisition of two agencies, one in Texas and one in North Carolina, and the hiring of Denise Davis as Vice President of Retail Operations. Denise Davis Insurance, located in Tomball, Texas, …