INSURANCE NEWS
Full Repairs to Damaged Red Sea Internet Cables Delayed by Yemen Political Splits
Full repairs to three submarine internet cables damaged in the Red Sea in February are being held up by disputes over who controls access to infrastructure in Yemeni waters. The Yemeni government has granted permits for the repair of two …
Clergy Sexual Abuse Probe Targets New Orleans Catholic Church Leaders
NEW ORLEANS (AP) — Authorities have expanded an investigation of clergy sexual abuse in the Roman Catholic Church in New Orleans to include senior church officials suspected of shielding predatory priests for decades and failing to report their crimes to …
Company to Pay $650K Over Child Labor Violations at Meat Processing Facilities
DES MOINES, Iowa (AP) — A Tennessee-based sanitation company has agreed to pay more than half a million dollars after a federal investigation found it illegally hired at least two dozen children to clean dangerous meat processing facilities in Iowa …
Cyber Startup Wiz Raises $1B in Private Funds, Valued at $12B
U.S.-Israeli cloud cybersecurity startup Wiz said on Tuesday it raised $1 billion in a private funding round that values the four-year old company at $12 billion. Wiz, which has raised $1.9 billion since its founding in 2020, said the funds …
TikTok Lawsuit Sets Stage for Prolonged Legal Fight Over US Ban
China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could …
US Probe Finds Widespread Sexual Misconduct at FDIC
The Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and other misconduct, according to an independent report released on Tuesday that raises questions about the future of the banking regulator’s leadership. The report, prompted by …
Viewpoint: The 10 Major Risks Shaping Insurance Today
I readily admit that lists of top risks, top threats, and opportunities for insurance are well-trodden ground, and ranking risks in order of importance inevitably triggers debate about which risk should be near the top or bottom, rather than the …
Georgia AG Says Savannah Overstepped on Ordinance Banning Guns in Unlocked Cars
SAVANNAH, Ga. (AP) — Georgia’s attorney general says city officials in Savannah overstepped their authority by making it illegal to leave firearms in unlocked cars. Savannah’s mayor and city council in April enacted the new city ordinance aimed at making …
El Niño Sees African Union Insurance Agency Pay Out $60 Million
The African Union’s climate insurance agency will pay out at least $60 million to four southern African nations to help them offset the impact of a drought that’s been driven by the El Niño weather pattern, its director general said. …
Michigan Supreme Court Rules Against Couple in Drone Surveillance Case
The Michigan Supreme Court unanimously ruled in favor of a local government Friday in a dispute over sending a drone to take pictures of a rural salvage yard without permission. Liberal and conservative groups closely watched the case, even joining …
Specialist Casualty MGA Casper Secures New Capacity Partners, Chaucer and TMK
Casper Specialty UK Ltd., the casualty-focused MGA and independent sister company to the broker Miller, announced it had secured two new capacity providers, as it enters its second year of trading. Chaucer and TMK have joined Argenta to provide additional …
Higginbotham Acquires Texas’ Barnard Insurance Group
Higginbotham announced it has acquired Barnard Insurance Group of Wichita Falls, Texas. Family owned and operated since 1931, Barnard is an independent agency with services that include personal, life and health, and commercial coverage. Barnard specializes in oil and gas …