INSURANCE NEWS
Fidelis Partnership Launches Renewables MGA Called ‘Novagen’
Pine Walk Capital Ltd., the specialist managing general agency platform and wholly owned subsidiary of The Fidelis Partnership (TFP), announced the launch of Novagen, a renewables MGA. Novagen will focus on underwriting the full spectrum of renewable technologies (onshore, offshore, …
China Evergrande Group’s Liquidators Start Legal Action Against PwC
China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property giant. Lawyers of liquidators have started legal actions against PwC and PricewaterhouseCoopers Zhong Tian …
Norway Salmon Farming Industry Grapples With Harsh Climate Effects
Norwegian salmon farmers face challenges from an unusually harsh winter and the El Nino climate phenomenon which led to record fish mortality and concerns over long-term forecasts ahead of a warmer summer. El Nino — a climate pattern raising temperatures …
Time to Retire ‘Hard to Abate’ as Climate Solutions Become More Affordable
Jargon often gets in the way of clearly understanding the climate challenge. While some technical terms such as “net zero” are useful and continue to gain wider acceptance, others aren’t so helpful. Take the phrase “hard to abate.” The simplest …
Fosun’s Fidelidade Explores Sale of New Lisbon Headquarters
Fidelidade, an insurer controlled by Shanghai-based Fosun International Ltd., is weighing the sale and leaseback of a building in Lisbon that it plans to use as its new headquarters. The company will give up its current base near Lisbon’s Chiado …
Hurricane Debby Data Due to Florida OIR Thursday and Friday
The Florida Office of Insurance Regulation said it is reminding property insurers in the state to file Hurricane Debby claims data Thursday and Friday this week. Insurers should use the Simplified 2024 Catastrophe Reporting Form through the Insurance Regulation Filing …
‘We’re Going to Survive and It’s Going to Come Back’: A Year After Maui Wildfire, Survivors Press on
They have combed the ashes for mementos, worried about where they would sleep, questioned their faith and tried to find a way to grieve amid the great, unsettling devastation. Residents have faced a year of challenges, practical and emotional, since …
People Moves: Benefield Joins B&R as SVP and Broker
Brown & Riding, headquartered in Dallas, named Wes Benefield to its national management and professional liability practice as senior vice president and broker, D&O, E&O and cyber. Based in Fort Worth, Benefield has over 11 years of combined retailer, carrier …
Ohio Begins Sales of Recreational Marijuana
COLUMBUS, Ohio (AP) — Recreational marijuana sales will begin across Ohio on Tuesday when the state issues its first operating certificates. Nearly 100 medical marijuana dispensaries will be able to begin sales immediately, although it’s not clear how many will …
El Paso Contractor Faces $260K Fine After Employee Fatally Injured in Trench Collapse
An El Paso, Texas contractor could have prevented a 37-year-old employee from suffering fatal injuries in February 2024 by following federally required safety standards to avoid trench collapses, the same failure for which the U.S. Department of Labor has cited …
City of Columbus, Ohio Says Foreign Cyber Threat Attempted to Disrupt IT System
The City of Columbus said an investigation into a July 18 cybersecurity incident has found that a foreign cyber threat actor attempted to disrupt the city’s IT infrastructure, in a possible effort to deploy ransomware and solicit a ransom payment …
NHTSA Seeking Information on Fatal Tesla Cybertruck Crash in Texas
The National Highway Traffic Safety Administration said on Monday it was seeking more information about an accident involving Tesla’s TSLA.O Cybertruck from the electric vehicle maker. The driver of the electric pickup truck was declared dead as a result of …