INSURANCE NEWS
US Indicts Slew of Alleged Chinese Hackers, Sanctions Company Over Spy Campaign
The U.S. on Wednesday announced indictments against a slew of alleged Chinese hackers, sanctioned a Chinese tech company and offered a $10 million bounty over what Washington called a years-long spy campaign that stole information from victims across America and …
Birth Injury Compensation Fund Executive Gets 9 Years for Embezzling $6.7 Million
A Providence Forge, Virginia man has been sentenced to nine years in prison for embezzling funds from his former employer, the Virginia Birth-Related Neurological Injury Compensation Program. According to court documents, John Hunter Raines was the chief financial officer and …
US Anger Grows Over Global Reach of EU’s ‘Hostile’ ESG Rules
As trans-Atlantic relations grow increasingly fraught, Europe’s ESG regulations are becoming yet another flashpoint that threatens to sour ties. The American Chamber of Commerce to the European Union (AmCham EU) says proposed revisions to the bloc’s environmental, social and governance …
People Moves: Tokio Marine HCC Int’l Promotes Gower as Head of Marine and Energy Liability; Miller Launches M&A and Strategic Solutions Team With 3 Senior Hires
This edition of International People Moves details appointments at Tokio Marine HCC International and the broker Miller. A summary of these new hires follows here. Tokio Marine HCC Int’l Promotes Gower as Head of Marine and Energy Liability Tokio Marine …
Engineers Assessing Risk After Condo in Charleston, SC, Ordered Evacuated
Multiple condominium buildings in Florida have been evacuated since the deadly 2021 collapse in Surfside. Now, residents of a Charleston, South Carolina, structure have been forced out, with city officials citing conditions similar to the Champlain Towers South condo in …
Markets/Coverages: RenaissanceRe Launches Property Catastrophe Bond Fund
RenaissanceRe Holdings Ltd. announced the launch of an Irish-domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund (Medici UCITS). A sub-fund of RenaissanceRe Medici ICAV, Medici UCITS is purpose-built to provide European and other global investors with access to RenaissanceRe’s …
Georgia Lawmakers Push to Ban Automated Speeding-Ticket Cameras
(AP) — Outside Beacon Hill Middle School in the Atlanta suburb of Decatur, like along hundreds of roadsides across Georgia, the unblinking eye of a camera tickets drivers who speed through a school zone. Supporters say cameras slow down drivers …
Liberty Mutual Q4 Income Up Nearly 90%, Year Earnings Climb
Liberty Mutual Holding Co. reported fourth quarter 2024 net income of $1.2 billion – a nearly 90% increase over the same period the prior year. Boston-based Liberty Mutual’s total combined ratio of 91.5 for the fourth quarter was the lowest …
Aon’s NFP Acquires UK-Based Business Management Consultancy, Clay GBP Ltd.
NFP, the Aon company and insurance brokerage and consulting firm, has acquired Clay GBP Ltd., a London-based business management firm. Financial details of the transaction were not disclosed. NFP plans to integrate Clay GBP into its subsidiary Ground Control Business …
EU Court Fines Five Countries for Lacking Whistleblower Protection
The EU Court of Justice on Thursday fined five countries for failing to adopt rules to boost protection for whistleblowers who expose fraud, tax evasion, data breaches and other misdeeds. The court handed a fine of 34 million euros ($36.7 …
Australia’s Prudential Watchdog Targets Longest-Serving Board Directors
Australia’s prudential regulator has long-serving board directors in its sights with a proposal to limit their terms to 10 years. The Australian Prudential Regulation Authority’s suggestion was one of several in a discussion paper released Thursday aimed at bolstering governance …
Proxy Adviser Glass Lewis Sticks With Diversity Guidance, Will Flag Risks
Proxy adviser Glass Lewis will continue to consider boardroom diversity when advising how to vote at U.S. company annual meetings, but plans to be clearer about the counter argument for critical vote recommendations to help clients avoid rising political risks. …