Markets/Coverages: Special Contingency Risks Offers Enhanced Victim Support Cover
Special Contingency Risks (SCR), a WTW business, has launched an Enhanced Victim Support insurance extension (EVS) to support hostage victims. The SCR initiative launches as part of an exclusive partnership with the charity, Hostage International. This new offering underscores SCR’s …
Higginbotham Acquires Texas’ Stephens Insurance Services
Higginbotham has acquired Lubbock, Texas-based Stephens Insurance Services, a benefits specialist. The collaboration pairs on-the-ground relationships with added resources to enhance combined service offerings across West Texas and into eastern New Mexico, Higginbotham said. Stephens Insurance Services specializes in three …
NC Woman Faces 170 Felony Charges in Insurance Fraud Involving Stolen GLP-1 Drugs
A North Carolina woman has been busy over the last three years, illegally obtaining weight-loss medication, administering it to people, and defrauding insurance companies of more than $87,400, the state Department of Insurance alleged this week. Heather Ann Robinson, 37, …
Louisiana Police Video Counters Claim that LSU Star was Too Far From Fatal Wreck
Louisiana state police have released video evidence in a deadly 2024 car crash that authorities contend was caused by reckless driving by Kyren Lacy, a former Louisiana State University football star who took his own life days before a grand …
Truck Driver Sues Fox NFL Broadcaster Over Fight in Indianapolis
A 69-year-old truck driver who was seriously injured in a fight that prosecutors say was started by former NFL quarterback and sports analyst Mark Sanchez is suing Sanchez and his employer, Fox Corporation, in Indiana state court. Lawyers for Perry …
Recoop Disaster Insurance Names New CEO and CTO
Recoop Disaster Insurance announced the appointment of Greg Bailey as Chief Executive Officer and Charlie Turri as Chief Technology Officer. Together, Bailey and Turri bring deep experience in insurance, financial services, and technology innovation that will position Recoop for accelerated …
Ex-Fed Official Sees Secular ‘Shocks’ Ahead From Extreme Weather
The Federal Reserve’s former top-ranking official overseeing climate risk says the US economy faces a series of long-term, structural shocks as a result of increasingly extreme weather patterns. Kevin Stiroh, who left the Fed earlier this year after it wound …
La Niña’s Back, but Will It Amp Up Hurricane Season?
La Nina, the cooler and at times costlier flip side of El Nino, has arrived to warp weather worldwide, meteorologists said Thursday. This natural weather phenomenon often turbocharges the Atlantic hurricane season, but this La Nina may be too weak …
Constellation Energy to Spend $340M to Improve Water Quality at Maryland Dam
Constellation Energy has agreed to spend more than $340 million to improve water quality at Maryland’s Conowingo Dam, which flows into the Susquehanna River and eventually ends up in the Chesapeake Bay, the nation’s largest estuary, officials announced last week. …
People Moves: Aon Names Chisholm as Chairman of Asia Reinsurance Solutions; Markel Appoints Luxford as Head of Distribution and MGA Strategy, Australia
This edition of International People Moves details appointments at Aon and Markel Insurance. A summary of these new hires follows here. Aon Names Chisholm as Chairman of Asia Reinsurance Solutions Insurance broker Aon plc named Simon Chisholm as chairman of …
Ben & Jerry’s Co-Founder Expects Conflict to Continue Under New Ownership
Ice cream brand Ben & Jerry’s is set to switch corporate owners next month, but for Ben Cohen, the counterculture brand’s co-founder, it is a case of meet the new boss, same as the old boss. As of November, Ben …
New York City And Northeast Brace for Flooding Rains From Weekend Storm
New York City and the Northeast are in the crosshairs of a massive coastal storm that’s poised to bring high winds, surging tides and heavy rain throughout the region starting Sunday. Drenching rain and strong winds will likely arrive in …
Weak Governance of Artificial Intelligence Raises Risks of Cyberattacks: Moody’s
Weak artificial intelligence (AI) governance practices pose a growing risk of data breaches, warns a report published by Moody’s Ratings. Large numbers of companies and organizations “have no rules in place to govern the safe use of new artificial intelligence …
Ex-Insurance Agent Avoids Prison for Being ‘Model Cooperator’ in Menendez Case
Former New Jersey insurance agent Jose Uribe will not go to prison for his role in the bribery scheme involving former U.S. Senator Bob Menendez, the senator’s wife, and two other businessmen. U.S. District Judge Sidney Stein in New York …
Wyoming Library Director Fired in Book Dispute Wins $700K Settlement
A former Wyoming library director who was fired amid an uproar over books with sexual content and LGBTQ+ themes that some people complained were inappropriate for youngsters and who sought their removal from youth shelves will be paid $700,000 after …
Global Financial Watchdogs to Ramp Up Monitoring of Artificial Intelligence
Global financial regulators have laid out plans for closer monitoring of artificial intelligence risks as banks and other parts of the financial industry ramp up the use of AI. Banks have been broadly optimistic that AI will make them more …
Life-Threatening Heat Domes Are Confounding Forecasters
Record-breaking temperatures seared the eastern US last month, leading to power emergencies across the region. The cause: an enormous ridge of high pressure that settled on the region, known as a heat dome. This phenomenon has also already struck Europe …
Explosion at Orange Site in Paris Injures Workers, Affects 80,000 Users
An explosion occurred at one of Orange’s technical sites in Paris on Thursday, injuring three workers, two critically, and disrupting communication services for 80,000 users, the district mayor said. The incident took place around 10 a.m. (0800 GMT) [on Oct. …
People Moves: Boxx Hires Leads for Distribution, Claims and Tech; XPT Specialty Hires Staver, Luceno to Personal Lines Team
Boxx Hires Leads for Distribution, Claims and Tech Boxx Insurance, headquartered in Miami, Florida, appointed Joe Gates, Ray Moylan and Thomas Beale to new positions. Boxx appointed Gates head of distribution, central, where he manages access to Boxx’s all-in-one cyber …
Survey Shows Homeowners Warming to DIY Digital Claims, Insurance Processes
Nearly 80% of U.S. homeowners would use their smartphones to document property damage for an insurance claim, according to a new survey that suggests self-service digital tools could play a larger role in future claims handling. The online survey of …