INSURANCE NEWS
Spain and Portugal Hit With Worst European Blackout in Years
Most of Spain and all of Portugal were hit by a major blackout that impacted public transport, airports and phone service, leaving authorities scrambling to find the causes for one of the worst outages in Europe in years. Data from …
Trawick International Moves HQ from Alabama to Miami
Trawick International, a longtime provider of travel insurance, student insurance and specialty coverage, is moving its headquarters from the quiet streets of Fairhope, Alabama, to Miami. “Miami is a thriving, diverse, and internationally connected city that mirrors our company’s mission …
Vermont Takes Over Medical Liability Insurer CARE RRG Facing $35.4M Judgment
A Vermont Superior Court has approved a state takeover and rehabilitation plan for a medical professional liability insurer for 1,300 physicians that the state says is in hazardous financial condition as a result of a $35.4 million arbitration judgment against …
Corporate America Boosts Security Spending After UnitedHealth Murder, Filings Show
U.S. corporations have been ramping up their security spending, but following the murder of UnitedHealth executive Brian Thompson that expenditure is set to rise further in 2025 as more companies see heightened threats to their top brass. At least a …
Cyber Market Continues to Expand as Rates Adjust, Says Guy Carpenter
Those fighting cybercrime and those who insure against it must perpetually race to keep up with the new tech, strategies, methods and goals thrown at them by nefarious actors working from all over the world. After significant compound rate increases …
UK’s M&S Tells Warehouse Agency Staff to Stay Home as Cyber Incident Continues
British retailer Marks & Spencer told agency staff at its central England distribution center to stay at home on Monday, after it stopped taking online orders following a cyber incident last week. Shares in the company, one of the best …
Ukraine Says It Detained Grain Ship From Russia’s ‘Shadow Fleet’
Kyiv detained a ship it says was part of Moscow’s “shadow fleet” which illegally exports grain from areas of Ukraine occupied by Russian forces. A dry cargo ship was detained in Ukrainian territorial waters as it headed from Moldova along …
Mediobanca Makes €6.3 Billion Offer for Generali’s Wealth Arm
Mediobanca launched a surprise €6.3 billion ($7.2 billion) offer for the wealth management arm of Italian insurer Assicurazioni Generali SpA, opening a potential defense strategy for the Milan-based bank amid Italy’s intensifying deal wave. Mediobanca, which itself is facing a …
Uvalde Approves $2M Settlement for Families of Elementary School Shooting Victims
City leaders in Uvalde, Texas, approved a $2 million settlement for families of the victims of the 2022 Robb Elementary School shooting, marking the first time one of the myriad lawsuits has led to financial compensation. Attorneys for the families …
Viewpoint: Turning the Embedded Insurance Challenge Into an Opportunity
Would you like pet insurance with your juvenile ball python, Ma’am? Until relatively recently, that kind of additional purchase came only after settling the scaly friend safely in its new terrarium at home. But with the growth of e-commerce, insurance …
Health Officials Seek to Phase Out Artificial Dyes From the Food Supply
U.S. health officials say they will urge foodmakers to phase out petroleum-based artificial colors in the nation’s food supply, but stopped short of promising a formal ban and offered few specifics on how they intended to achieve the sweeping change. …
Did Florida House ‘Sneak’ Attorney Fee Wording Into Phosphate Mine Bill?
A late amendment to a phosphate mine bill has set off alarm bells among some in the Florida insurance industry, with concerns that it could cut out the heart of 2022 and 2023 legislative changes that disincentivized excessive claims litigation. …