INSURANCE NEWS
Citigroup Must Face New York Lawsuit Over Handling of Fraud Scams
A federal judge on Tuesday rejected Citigroup’s bid to dismiss a lawsuit by New York Attorney General Letitia James claiming it failed to protect customers from online scammers and refused to reimburse customers who were victimized. U.S. District Judge Paul …
Trump Puts Federal DEI Staff on Paid Leave as Cuts Take Shape
Federal employees in diversity, equity and inclusion roles will be placed on paid leave Wednesday as their offices related to those programs are being ordered to shut down after President Donald Trump’s executive orders, White House Press Secretary Karoline Leavitt …
AXA XL Supports UK’s First Development-Stage Accelerator for Climate Tech Businesses
AXA XL is partnering with London GreenCity, the UK’s first accelerator for development-stage climate tech entrepreneurs, to offer expertise in insurance and risk management to the accelerator’s members. London GreenCity supports the development of new technologies that address the causes …
Storm Éowyn Set to Hit UK With Damaging Winds and Heavy Rains
Winter Storm Éowyn is gathering strength, supercharged by the Arctic blast that moved through the US, and has the potential to trigger power outages and travel disruptions across the UK later this week. Authorities have expanded warnings, forecasting the storm …
EU Is Set to Shrink ESG Reporting Rules Amid French Demands
The European Union is set to scale back its highly contested ESG reporting requirements, as France prepares to unveil a formal proposal seeking to limit the scope of the regulatory framework. The French government is readying a new set of …
Six Years Post Fatal Disaster, Mines Start Global Waste-Dam Body
An international institute that seeks to improve the safety of reservoirs that store toxic waste from mining known as tailings kicked off Tuesday, six years after the collapse of a dam owned by Vale SA killed 272 people in the …
South Korea to Change Airport Design After Deadly Jeju Air Crash
South Korea will extend runway safety areas and redesign infrastructure after the crash of a Jeju Air Co. flight last month that killed almost everyone on board, sparking criticism that the design of the airport might have exacerbated the accident. …
People Moves: Allianz Commercial Names Region Heads of Property, Financial Lines; New Leadership Roles at Resilience
Allianz Commercial Makes North American Leadership Promotions in Financial Lines and Property Allianz Commercial, headquartered in New York City, made two promotions to its North American leadership in financial lines and property. Nancy Dorvil, head of property Canada, will succeed …
Insurtechs’ Approach to Wildfire Insurance: Part II – Kettle
While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion and $45 billion. Moody’s RMS, in …
Alliant Employees Blocked From Soliciting Former MMA Clients
A federal judge in Manhattan overseeing an insurance brokerage poaching case has blocked three Alliant Insurance Services employees from soliciting or contacting any current Marsh & McLennan Agency (MMA) clients or using a spreadsheet of MMA clients that MMA alleges …
Growing Concerns About Wildfires in Carolina Thanks to Kindling Left by Helene
As southern California continues to suffer from wildfires, officials in another part of the country fear their area could be next – thanks to tons of dry wood left over from Hurricane Helene’s wind and flooding. “The number one fire …
New York Proposes Plan to Stabilize Broken Taxi Insurance Market
New York Governor Kathy Hochul proposed measures to stabilize the city’s taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance Co. Two of the bills would make it easier to adjust …