INSURANCE NEWS

Erie Insurance Still Working to Restore Systems After Outage

Pennsylvania-based Erie Insurance is still working to restore systems following a network outage that it revealed on Sunday. “A network outage impacting Erie systems continues. All available resources are working to restore access as soon as possible,” the company reported …
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States Recover $19 Million in Commission Overcharges From Brokers

Five large brokerage firms must reimburse customers $19 million as the result of a nationwide crackdown by state securities regulators on what they say are commission overcharges on small-dollar transactions, according to Massachusetts Secretary of State William F. Galvin whose …
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After 46-Day Cyberattack Pause, British Retailer M&S Resumes Online Orders

British retailer Marks & Spencer resumed taking online orders for clothing lines on Tuesday after a 46-day hiatus following a cyberattack. Shares in M&S, one of the best-known names in British business, were up 3.5% after it restarted standard home …
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SEC Plan Says Existing Staff Cuts Help Meet DOGE Targets

Wall Street’s top regulator told the White House in March it had already made substantial progress toward meeting President Trump and Elon Musk’s demands for leaner government via voluntary workforce reductions, according to a planning document obtained by Reuters. The …
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Whole Foods Supplier United Natural Foods Says Cyber Incident Disrupted Operations

United Natural Foods Inc., one of the largest U.S. grocery distributors whose clients include Whole Foods, took certain systems offline in recent days after the discovery of unauthorized activity on internal networks, the company said on Monday. A Whole Foods …
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Ryan Specialty Underwriting Managers Forms International Renewable Energy MGU

Ryan Specialty Underwriting Managers (RSUM), the specialty underwriting segment of Ryan Specialty, has launched Ryan Specialty Renewables, an international renewable energy managing general underwriter. The MGU is formed from the unification of existing company brands: PERse Americas, PERse International, de …
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New Push to Reframe DEI in London Shifts Away from Diversity

A new study aims to reframe the global debate surrounding diversity, equity and inclusion in the City of London by focusing less on demographics and more on hiring people with diverse experiences. The report, published on Monday by the Diversity …
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UK Judge Warns of Risk to Justice After Lawyers Cited Fake AI-Generated Court Cases

Lawyers have cited fake cases generated by artificial intelligence in court proceedings in England, a judge has said — warning that attorneys could be prosecuted if they don’t check the accuracy of their research. High Court justice Victoria Sharp said …
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USI Mid-Year Update: Ongoing Trends to Continue

Mid-year insurance industry assessments indicate that the ongoing trends of the last six months are likely to persist through the end of the year, even if the conditions in question are defined as unstable or unpredictable. The new USI report, …
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Fitch Warns of Rising Mortgage-Bond Risk Due to Extreme Weather

For analysts at Fitch Ratings, the recent demolition of a Swiss village by a glacier is fresh proof that climate change is altering the laws of mortgage risk. The world looked on in shock last month as 3 million cubic …
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Financier Lex Greensill Decries ‘Code of Silence’ Around SoftBank Deals

Financier Lex Greensill said there was a “code of silence” around a series of transactions with SoftBank Group Corp. to keep potential losses hidden, in his first public court appearance since the high-profile collapse of his firm. Greensill is giving …
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Unison Risk Advisors Acquires Boutique Hatcher Insurance Agency in Orlando

The Orlando-based boutique agency and brokerage Hatcher Insurance is now part of Unison Risk Advisors, Unison announced this week. Hatcher, founded almost 80 years ago, offers property and liability insurance, surety bonding, employee benefits and personal insurance services. Industry veterans …
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