INSURANCE NEWS
Finland’s Elisa Says Baltic Undersea Cables Were Torn Apart by External Force
Two undersea telecommunications cables that were damaged in the Baltic Sea on Dec. 25 appeared to have been torn apart by a strong external force, Finland’s Elisa said on Monday, adding that they had now been repaired. Baltic Sea nations …
UN Aviation Agency Investigates Reports of Possible Data Breach
The United Nations’ civil aviation agency is investigating reports of a “potential information security incident” following a claim that tens of thousands of its records had been stolen, the organization said on Monday. The Canada-based International Civil Aviation Organization (ICAO) …
Swiss Insurer Helvetia Said to Mull Sale of German Operations
Helvetia Holding AG is considering a sale of its loss-making German insurance operations, according to people familiar with the matter. The Swiss insurer has hired JPMorgan Chase & Co. and plans to collect non-binding offers for the unit in the …
Did Florida Appeals Court Put the Final Nail in the AOB Coffin? Maybe
Almost five years after Florida lawmakers clamped restrictions on assignment-of-benefits agreements and two years after they effectively outlawed AOBs altogether, state appeals courts may have finally put an end to one creative way that been used in attempts to get …
Delaware Personal Data Privacy Act Now in Effect
The Delaware Personal Data Privacy Act, passed in 2023, went into effect at the beginning of this new year, granting Delawareans ew personal data privacy rights. “Businesses collect Delawareans’ personal data every day,” said Attorney General KathyJennings. “Unfortunately, some businesses …
Massachusetts High Court Upholds $20 Million Verdict Over Leg Amputation
The Massachusetts Supreme Judicial Court has upheld a $20 million jury award In a medical malpractice case that found three medical professionals caused a patient to have to undergo an above-the-knee amputation of his leg. In 2023, a jury found …
Man Is Charged With Truck Arson While Out on Bail on Other Arson Charge
A Maine man out on bail for an April 2024 arson charge has been charged with a new arson incident. According to officials, on the evening of January 5, the Maine State Fire Marshal (FMO) assisted with an investigation of …
McDonald’s Retires Some Diversity Goals in Latest Corporate Retreat
McDonald’s Corp. is revamping its approach to diversity, equity and inclusion, becoming the latest large company to change its strategy as the once-ubiquitous goals come under pressure from conservative advocates. The company will no longer set “aspirational representation goals” and …
California Winds Drive Severe Fire Danger in Rain-Starved LA
Exceptionally powerful, dry winds expected across Southern California this week are set to send wildfire risk skyrocketing in a region that’s endured more than eight months without significant rain. Forecasters predict the strongest Santa Ana wind event of the season …
People Moves: XS Brokers Promotes Buccinna in New York; Leadership Changes at Falvey Insurance
XS Brokers Promotes Buccinna to Regional Leader of New York XS Brokers, headquartered in Quincy, Massachusetts, promoted Peter Buccinna to vice president and regional leader of New York. Buccinna has over 26 years of industry experience and joined XS Brokers …
Denver Group Lands NWSL Team for $110M Expansion Fee, Owners Include IMA and Parsyl Execs
The NWSL’s 16th team is headed to Denver for a record $110 million expansion fee, Sportico.com reported. It’s more than double the previous NWSL record for new teams and the largest expansion fee ever in U.S. women’s sports. Groups from …
People Moves: AXIS Taps Chubb’s Farrup to Lead Global Mkts, Succeeding Gregory; Agile’s Lloyd’s Syndicate Hires AXA XL’s Hughes for London Marine Operation
This edition of International People Moves details appointments at AXIS Capital Holdings and Agile Insurance Group. A summary of these new hires follows here. AXIS Appoints Chubb’s Farrup as Head of Global Markets, Succeeding Gregory AXIS Capital Holdings Ltd. announced …