INSURANCE NEWS
Insurtech Inshur Raises $35 Million From Trinity Capital for US Expansion, AI Tech
Inshur said it as received a $35 million capital raise from alternative asset manager Trinity Capital to invest in research and development of artificial intelligence technology to support its embedded auto insurance policies within the autonomous vehicle market. The company …
Online Ticket Seller to Pay $85K for Violating Connecticut’s New Data Privacy Law
Connecticut Attorney General William Tong announced a settlement with TicketNetwork, Inc. as a result of an investigation into violations of the Connecticut Data Privacy Act. Under the settlement, TicketNetwork has agreed to comply with the requirements of the CTDPA, maintain …
Markets/Coverages: Markel Launches Pre-Loss Services for UK Cyber Clients
Markel Insurance, the insurance operations within Markel Group Inc., announced the launch of its pre-loss services for UK Cyber360 policyholders. These new offerings include a complimentary one-hour call with an experienced cyber and data risk lawyer from Markel Law to …
Credit Fund’s Collapse Leads to $1 Billion Lawsuit Against EY
Bridging Finance Inc.’s receiver is suing Ernst & Young LLP for C$1.4 billion ($1 billion), alleging the auditor failed to detect fraud and misstatements that contributed to the Toronto private lender’s collapse. In a claim filed with Ontario’s Superior Court …
Three Killed in Houthi Attacks on Cargo Ships, One Vessel Sinks, in Red Sea
Houthi attacks on cargo ships in the Red Sea killed three crew members, sank one vessel, and left a second without propulsion in signs the Tehran-backed group is once again escalating assaults in the vital trade route. The attacks resulted …
UK Companies Should Have to Disclose Major Cyberattacks, M&S Says
British businesses should be legally required to report material cyberattacks to the authorities, the chairman of retailer Marks & Spencer said on Tuesday, claiming two recent major attacks on large UK firms had gone unreported. Giving evidence to lawmakers on …
No Alerts Heard in Deadly Texas Flash Flood as 161 Still Missing
In the early hours of July 4, the only sound many of the vacationers along the banks of the Guadalupe River would have heard was pounding rain and thunder. They didn’t get any official warning of the rapidly rising waters …
Time to Change North Carolina’s Unique (and Antiquated) Rate Bureau System?
Insurance markets differ in important ways from state to state, and North Carolina’s stands out for two reasons. First, insurers responded to an exceptionally catastrophic storm in 2024—Hurricane Helene. The Tar Heel State bore $60 billion of the hurricane’s $80 …
California Fails to Stop 23andMe Founder From Re-Acquiring Firm Amid Privacy Concerns
Genetic testing company 23andMe can proceed with a $305 million sale to the company’s co-founder Anne Wojcicki after a U.S. bankruptcy judge rejected California’s bid to delay the sale while the state appeals over privacy concerns related to the deal. …
People Moves: ReSource Pro Appoints Hugh as CFO
ReSource Pro, headquartered in New York City, appointed Eugene “Gene” Hugh as chief financial officer (CFO). Hugh will lead the company’s accounting, financial planning and analysis, tax, treasury, legal, and mergers and acquisitions functions. He also plays a key role …
Viewpoint: Rising False Advertising Claims Reveal Major Coverage Protection Gap
The steady rise in false advertising claims against consumer-facing companies has exposed a major insurance protection gap. The drivers of these legal actions are many and varied and include consumers’ growing – and regularly-shifting – health preoccupations; sustainability concerns; patriotic …
People Moves: LP Insurance Services Names Rossi Executive Chairman, Cushard CEO and President
Rossi Named Executive Chairman, Cushard Named CEO and President at LP Insurance Services LLC LP Insurance Services LLC named Founder and CEO Nick Rossi as executive chairman. Rossi, who founded the company in 2010, will maintain a role supporting client …