INSURANCE NEWS
Local Regulators Deny Rezoning Request for Pennsylvania Data Center Development
A county commission in Pennsylvania on Tuesday denied a request by Talen Energy to rezone hundreds of acres of land for the development of data centers, marking the latest example of local pushback hampering the U.S. expansion of server warehouses. …
EU Aims to Use Global Upheaval to Drive New Single Market Push
European Council President Antonio Costa said leaders are ready to make another push to unify their markets, arguing that a fracturing world order could force action on languishing reforms. “My feeling is there is a real commitment for all the …
Estee Lauder Sues Walmart Over Alleged Counterfeit Fragrances
Estee Lauder sued Walmart in California federal court on Monday, accusing the retail giant of selling knockoffs of Estee Lauder fragrance and skin care brands including Clinique, Tom Ford and Le Labo. Estee Lauder said in the lawsuit that Walmart …
South Korea Crypto Exchange Bithumb Says System Flaws Led to $40 Billion Error
South Korea’s Bithumb said on Wednesday that serious flaws had left the crypto exchange’s internal system susceptible to potential sabotage and failed to prevent an erroneous transfer of more than $40 billion in assets last week. The country’s second-largest virtual …
Climate Change and Budget Cuts Fueled South American Blazes
Human-induced climate change, along with land-use shifts and budget cuts, likely worsened recent wildfires in Argentina and Chile that are threatening some of the world’s oldest trees, an analysis has found. These regions are now receiving 20% to 25% less …
Canadian Airlines Suspend Cuba Flights as Island Set to Run Out of Jet Fuel
Canadian airlines on Monday suspended flights to Cuba, which warned it was running out of jet fuel, as the U.S. tightens its grip on the communist-run nation’s oil supply by blocking shipments from Venezuela. Air Canada, the country’s biggest carrier, …
Acorn Owners Said to Weigh Options for £1 Billion UK Cab Insurer
The owners of British specialist motor and home insurer Acorn Group are exploring strategic options including selling a controlling stake in the company, according to people familiar with the matter. The London black cab insurer’s shareholders, which include Inflexion Private …
Viewpoint: Why Unified Data, Not More Data, Will Decide Insurance’s Next Winners
The role of data across the insurance value chain has evolved noticeably. What was once used primarily for retrospective reporting is now becoming a source of real-time intelligence that shapes daily decision-making. This shift is being driven by three forces: …
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch
Fitch Ratings said it does not expect autonomous vehicles (AVs) to “have any meaningful impact” on insurers in the next decade. Therefore, impacts to credit ratings will be modest. However, over time, the technology “will indelibly alter” the landscapes of …
White House Says Trump to Rescind Climate Change Finding Key to Auto Emissions Rules
U.S. President Donald Trump plans to formalize on Thursday a move to overturn the Obama-era legal basis for federal greenhouse gas rules, which will lead to the repeal of vehicle emissions rules, the White House said on Tuesday. White House …
Injured Employee Loses Evidence Spoliation Bid Over Video Erased by Employer
A Virginia public school employee must proceed with his workers’ compensation claim appeal without the evidence of a video he believes shows how and when he was injured at work. His employer, the Newport News Public Schools, erased the video …
People Moves: Hinterland Insurance Names Krozy CUO, Harding VP Commercial Package and Property
Hinterland Insurance appointed Evan Krozy as the company’s chief underwriting officer and Kristine Harding as executive vice president, commercial package and property, reporting to Krozy. Krozy has more than 25 years of insurance experience, including commercial lines underwriting, specialty lines, …