INSURANCE NEWS
Cyber Resilience Overestimation Leads to Business Continuity Issues, Ransom Payments
New research commissioned by Cohesity, an AI-powered data security firm, reveals organizations overestimate their cyber resilience capabilities and maturity, leading to significant business continuity disruptions and ransom payments. The Cohesity Global Cyber Resilience Report 2024, which polled over 3,100 IT …
U.S. Transport Safety Board Opens Investigation Into Tesla Crash in California
The U.S. National Transportation Safety Board has opened an investigation into a crash and fire involving a Tesla electric semi-truck on a California highway, the agency said late Wednesday. The NTSB will carry out the safety investigation along with the …
Crew Evacuated From Houthi-Stricken Oil Tanker in Red Sea
The crew of a ship that suffered several attacks in the Red Sea has been evacuated with naval support. Delta Tankers, which operates the Sounion, said Thursday that plans are now in place to move the vessel to a safer …
Propane Blast Levels Pennsylvania Home, Kills Woman and Injures Man
An explosion that leveled a home in northeastern Pennsylvania, killing a woman and leaving a man seriously injured, was apparently caused by a propane leak, state police said. The blast in Jefferson Township, near Scranton, was reported around 2 p.m. …
Why the Canadian Freight Rail Halt Will Roil North American Supply Chains
Canada’s two main freight rail companies locked out around 10,000 of their Canadian unionized workers early on Thursday, starting an unprecedented simultaneous work stoppage that will grind almost all railway freight movement in the country to a halt. HOW INTEGRATED …
East Palestine Residents Seek More Time, Information Before $600M Settlement Deadline
Some East Palestine, Ohio, residents want more time and more information before they have to decide by a deadline this week whether to accept their share of a $600 million class-action settlement with Norfolk Southern over last year’s disastrous train …
Collapsed Rail Bridge Gets Controlled Demolition After Severe Flooding
NORTH SIOUX CITY, S.D. (AP) — Half of a collapsed rail bridge connecting South Dakota and Iowa was blasted in a controlled demolition, part of the process to remove the bridge months after it fell into the river, swollen from …
Two Killed in West Texas Plane Crash That Set Off a Fire
ODESSA, Texas (AP) — A small plane crashed in a West Texas neighborhood Tuesday, killing the pilot and a passenger and setting off a large fire on the ground that injured a woman, authorities said. Witnesses said the plane struggled …
The Hilb Group Expands Central Region Presence With Texas Acquisition
The Hilb Group announced that it has acquired a Texas-based property and casualty agency, adding to the company’s expanding presence in the Central region of operations. The company did not name the acquired agency. The acquisition took effect on August …
Cyber Risk: West Virginia OIC Plans to Dispose of Older Workers’ Comp Files
The West Virginia insurance commissioner’s office has adopted a new policy: It will soon begin destroying workers’ compensation claim files that are 10 years old or older. “Given increasing cybersecurity concerns and the type of information contained in the closed …
Markets/Coverages: Hanover Enhances Work Safe Program; Berkley Adds AttorneyShield; Encore Fiduciary Moves Into Management Liability
The Hanover Enhances Its Holistic Work Safe Program The Hanover. Insurance Group has expanded its Hanover Work Safe, a group of services promising a personalized approach to worker safety and claims handling. The Hanover’s claims specialists proactively gain insights into …
Safety Regulator Closes Probe into GM’s Cruise Robotaxis
The National Highway Traffic Safety Administration said it was closing its preliminary investigation into the hard braking and immobilization issues in 1,194 autonomous ride-hailing vehicles operated by General Motors’. Cruise unit. The NHTSA said on Thursday it was closing the …