INSURANCE NEWS
European Heat Wave Gives Way to Violent Storms and Flooding
Severe storms are triggering flooding in parts of Europe following weeks of extreme heat, while temperatures on the Italian island of Sicily climb to 44C (111F). A powerful low-pressure system delivered heavy precipitation as it moved east into central Europe …
Prior Knowledge Ends Filmmaker Baldoni’s Coverage for Harassment Claims: Insurer
The insurer for the actor Justin Baldoni and other executives at his movie studio Wayfarer says its policy does not cover actress Blake Lively’s allegations of sexual harassment during the filming of the movie “It Ends With Us.” Wayfarer and …
Microsoft Rushes to Stop Hackers From Wreaking Global Havoc
Hackers exploited a security flaw in common Microsoft Corp. software to breach governments, businesses and other organizations across the globe and steal sensitive information, according to officials and cybersecurity researchers. Microsoft over the weekend released a patch for the vulnerability …
People Moves: Willis Launches Dedicated Residential Real Estate Team, Led by Palmer and Grainger; Aspen Promotes Welch to Group Chief Underwriting Officer
This edition of International People Moves details appointments at Willis and Aspen Insurance Holdings. A summary of these new hires follows here. Willis Launches Dedicated Residential Real Estate Team, Led by Palmer, Grainger Willis, a WTW business, announced the launch …
HP Owed Over $940M by Mike Lynch’s Estate, Ex-Business Partner, UK Court Rules
Hewlett Packard is owed more than 700 million pounds ($944 million) from the estate of the late Mike Lynch and his former business partner over its acquisition of their British software firm Autonomy, a judge at London’s High Court said …
British Business Slows Climate Action, Sees Government Net Zero Agenda as Unrealistic
British business leaders are putting a brake on their plans to combat climate change and do not believe the government’s approach to net zero is compatible with growth, a survey of 1,000 executives showed on Tuesday. Both large companies and …
Philippines Braces for Heavy Rain After Six People Killed
Philippine authorities suspended government work and classes in the capital region and dozens of provinces for a third day on Wednesday, warning of continued strong rains that killed at least six people and forced thousands in flooded areas to evacuate. …
UK Plans to Ban Public Sector Bodies From Paying Ransom to Cyber Criminals
Britain plans to ban public sector bodies and operators of critical national infrastructure, including the state-run health service, local councils and schools, from paying ransom demands to cyber criminals, it said on Tuesday. The country has been the victim of …
Camp Mystic Deaths After Floods Darken a Cherished Texas Tradition
Camp Mystic was the totemic rite of passage for girls from establishment families in the American South: Lyndon Johnson sent his daughters there, Laura Bush worked there as a counselor years before becoming First Lady, and its alumni include the …
People Moves: Novatae Risk Group Names Arora as VP Data, Business Intelligence & Innovation
Novatae Risk Group (Novatae), headquartered in Dallas, Texas, named Anju Arora to the newly created role of vice president of data, business intelligence and innovation. Arora will spearhead Novatae’s data-driven transformation, overseeing business intelligence, analytics and innovation programs. Arora has …
Insurer Says it Has No Duty to Defend Kansas City Super Bowl Parade Shooting Lawsuit
Cincinnati Specialty Underwriters said in a complaint last week that it has no duty to defend or indemnify a Kansas City sports promotion group facing an underlying lawsuit over a mass shooting at a 2024 Super Bowl parade. CSU said …
Louisiana Cancels $3B Gulf Coast Repair Project Funded by Deepwater Horizon Settlement
Louisiana last week canceled a $3 billion repair of disappearing Gulf coastline, funded by the 2010 Deepwater Horizon oil spill settlement, scrapping what conservationists called an urgent response to climate change but Gov. Jeff Landry viewed as a threat to …