INSURANCE NEWS
Korea Slaps Hefty Fine on SK Telecom for Years of Negligence
South Korea’s largest mobile operator was hit with a fine and stern criticism from the country’s privacy regulator after a cyberattack disclosed in April compromised the data of about half the nation’s population. The Personal Information Protection Commission on Thursday …
Goldman Sachs Fights £9 Million Claim From Manager Who Won Paternity Leave Suit
Goldman Sachs Group Inc. is fighting an £8.9 million ($11.9 million) claim from a former compliance manager who won a sex-discrimination ruling that he was unfairly fired after taking six months of paternity leave. Jonathan Reeves, who worked in Goldman’s …
Relation Acquires Illinois’ Joseph M. Wiedemann & Sons
Relation Insurance Services announced their acquisition of the assets of Joseph M. Wiedemann & Sons, Inc. (JMWS). The transaction went into effect on August 1, 2025; terms of the transaction were not disclosed. JMWS, a fourth-generation family-owned business based in …
Tropolis Completes Acquisitions of 8 Agencies in 3 States
Tropolis Insurance Services said it has completed eight agency acquisitions across the United States. Terms of the transactions were not disclosed. The tech-enabled brokerage providing property/casualty and employee benefits solutions out of Ann Arbor, Michigan said the acquisitions combine deep …
Two Planes Collide Midair at Colorado Airport, Killing 1 And Injuring 3
One person was killed and three were injured when two small planes collided midair as they tried to land at an airport in northeastern Colorado, authorities said. A Cessna 172 and an Extra Flugzeugbau EA300 collided Sunday morning while trying …
Neptune Insurance Files for IPO. Executive Compensation Not Remarkable This Time
St. Petersburg, Florida-based Neptune Insurance Holdings filed for a U.S. initial public offering on Wednesday, becoming the latest company to tap into renewed investor demand as easing tariff concerns and strong markets spur more firms to test the waters. With …
Judge Allows 9/11 Civil Claims Against Saudi Arabia to Proceed
A federal judge in New York rejected Saudi Arabia’s latest effort to dismiss civil claims that it supported the 9/11 hijackers. Judge George B. Daniels said in a written opinion last Thursday that his decision pertained to jurisdiction rather than …
Success of AI Music Creators Sparks Debate on Future of Music Industry
When pop groups and rock bands practice or perform, they rely on their guitars, keyboards and drumsticks to make music. Oliver McCann, a British AI music creator who goes by the stage name imoliver, fires up his chatbot. McCann’s songs …
Wildfire Burns Through Historic California Gold Mining Town, Destroying Multiple Homes
A quick-moving wildfire burned homes in a California Gold Rush town settled around 1850 by Chinese miners, forcing evacuations and destroying properties. The fire rapidly expanded to 6,473 acres, forcing the evacuation Tuesday of the Chinese Camp Town and surrounding …
Google Keeps Chrome and Apple Deal but Must Share Data in Big Antitrust Ruling
Google won’t have to sell its Chrome browser, a judge in Washington said on Tuesday, handing a rare win to Big Tech in its battle with U.S. antitrust enforcers, but ordering Google to share data with rivals to open up …
Disney to Pay $10M to Settle Claim of Allowing Unlawful Collection of Children’s Data
Walt Disney will pay $10 million to settle U.S. Federal Trade Commission allegations that the company unlawfully allowed personal data to be collected from children who viewed kid-directed videos on YouTube without notifying parents or obtaining their consent, the FTC …
Fitch Revises Global Reinsurance Sector Outlook to ‘Deteriorating’ on Rising Competition
Fitch Ratings has revised its outlook for the global reinsurance sector to “deteriorating” for 2026 from “neutral” for 2025, reflecting its expectation that underlying operational and business conditions are likely to worsen, “although they will remain overall favorable for reinsurers …