Flint, Michigan Struggles to Complete Lead Pipe Replacement Decade After Water Crisis
Jeffrey Bell watched as crews dug up and replaced neighbors’ lead water pipes, hoping his mother’s house would be next. Workers told him it wasn’t on their list but probably assigned to another contractor. With Flint’s lead pipe replacement program …
Tech Industry Trade Group Sues Arkansas Over Social Media Laws
A tech industry trade group sued Arkansas Friday over two new laws that would place limits on content on social media platforms and would allow parents of children who killed themselves to sue over content on the platforms. The lawsuit …
US Warns Iran-Tied Hackers Pose Ongoing Risk to American Firms
Iran-affiliated hackers remain a potential threat to critical sectors of the US economy, including defense contractors and other American organizations, according to a bulletin published Monday from the FBI, the National Security Agency, the Cybersecurity and Infrastructure Security Agency and …
Idaho Officials Say Gunman Started Fire, Then Fatally Shot 2 Firefighters in Ambush
A man armed with a rifle started a wildfire and then began shooting at first responders in a northern Idaho mountain community, killing two firefighters and wounding a third during a barrage of gunfire over several hours, authorities said. A …
2024 Grocery Chain Cyberattack Exposed Data of 2.2 Million Employees, Others
Ahold Delhaize USA Services, the Dutch company that owns Stop & Shop and Hannaford grocery stores across New England and others across the country, reported on June 26 that a cyberattack last November likely exposed the personal information of an …
Lloyd’s Applauds Removal of Section 899 Tax Measure From ‘One Big Beautiful Bill’
Lloyd’s has issued a statement applauding the removal of Section 899 from the Senate’s version of the Republican’s reconciliation bill, which would have could have led to substantial additional tax on the US income of non-US-domiciled businesses. UK businesses had …
Wall Street Backs LA Wildfire Lawsuits, Chasing Billions
The Los Angeles wildfires have generated potentially thousands of new clients for lawyers and prospects for billions in fees. Wall Street wants in on the action, too. The chance at a piece of strong returns has encouraged investment banks, hedge …
Beazley Report: US Executives Misjudge Cyber Preparedness
U.S.-based executives feel more prepared to counter cyber threats, potentially indicating a false sense of security because many companies lack the ability to be adequately prepared, according to a new report from specialist insurer Beazley. According to the report, “Spotlight …
G7 Agrees to Avoid Higher Taxes for US and UK Companies
The United States and the Group of Seven nations have agreed to support a proposal that would exempt U.S. companies from some components of an existing global agreement, the G7 said in a statement on Saturday. The group has created …
‘Generali’ Sign Atop Insurer’s Skyscraper Offices Collapses in Milan
One of the giant Generali signs that crown the Italian insurer’s head offices in Milan collapsed on Monday, remaining atop the 170 meter-high (558 ft) skyscraper but at risk of crashing to the ground, firefighters said on Monday. Generali, which …
People Moves: Liberty Specialty Markets Taps CNA Hardy’s Butt as UK Head of Casualty Claims; SiriusPoint Names Pryde From Catalina Re as Group Chief Risk Officer
This edition of Interntional People Moves details appointments at Liberty Specialty Markets and SiriusPoint. A summary of these new hires follows here. Liberty Specialty Markets Taps CNA Hardy’s Butt as Head of Casualty Claims, UK Liberty Specialty Markets (LSM), part …
Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
AEGIS London, a top quartile Lloyd’s syndicate, has announced significant enhancements to its political and financial risk (PFR) offering. The syndicate has increased its sovereign non-payment (CF) and political risk (PR) line sizes from $20 million to $30 million, and …
Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Eleven former executives of companies linked to Miteni SpA were sentenced to a combined 141 years in prison by an Italian court for one of the largest groundwater contaminations of forever chemicals in Europe. Parent company Mitsubishi Corp., Japan’s biggest …
Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used …
PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
PricewaterhouseCoopers LLP, one of the world’s largest professional advisory firms, has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. “Clients would hear us talking about using …
Reeves Plans Rule Change to Create UK Captive Insurance Market
The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness. Chancellor of the Exchequer Rachel Reeves is expected to lay out …
As Hurricane Season Picks Up, Key Forecasting Tool Access Set to End
US National Hurricane Center (NHC) forecasters accurately predicted Hurricane Erick would explode in intensity as it hit Mexico’s Pacific coastline. Now, key tools that helped inform that outlook will go away by the end of this month, and it’s unclear …
Tech Firms Warn ‘Scattered Spider’ Hacks Are Targeting Aviation Sector
Tech companies Google and Palo Alto Networks are sounding the alarm over the “Scattered Spider” hacking group’s interest in the aviation sector. In a statement posted on LinkedIn on Friday, Sam Rubin, an executive at Palo Alto’s cybersecurity-focused Unit 42, …
GM Wins Victory as Appeals Court Decertifies Transmission Lawsuits
General Motors persuaded a federal appeals court on Friday to decertify a class action seeking to hold the automaker liable for knowingly selling about 800,000 cars, trucks and SUVs with faulty transmissions. In a 9-7 vote, the 6th U.S. Circuit …
Investigation Into Florida Condo Collapse Is Expected to Finish in 2026
More than four years after a Florida condominium collapse killed 98 people, federal investigators have yet to make a final determination of the cause — but they do have some leading theories. The National Institute of Standards and Technology, the …