People Moves: Howden Taps Former Gallagher Exec Strickland to Launch Space Insurance Practice; Liberty Promotes Groenen to Head of Portfolio Solutions, Europe
This edition of International People Moves details appointments at Howden and Liberty Speciality Markets. A summary of these new hires follows here. Howden Taps Former Gallagher Exec Strickland to Launch Space Insurance Practice Howden, the London-based insurance intermediary group, has …
Trump Giving Farmers Hit by China Trade War $12B in Aid
President Donald Trump announced a $12 billion farm aid package Dec. 8 — a boost to farmers who have struggled to sell their crops while getting hit by rising costs after the president raised tariffs on China as part of …
Settlement Approved for New Orleans Archdiocese to Pay Hundreds of Abuse Victims
he New Orleans Archdiocese will pay at least $230 million to hundreds of victims of clergy sexual abuse under a settlement approved Monday by a federal judge that follows years of negotiations. Richard Trahant, an attorney representing victims in the …
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims
Liability risks for small businesses have shifted over the last decade, with fire and slip-and-falls becoming more expensive while water and freezing damage claims are now the most common type of claim. The Hartford analyzed more than one million small-business …
Markets/Coverages: MGA Navium Launches Consortium for Pre-Launch Satellite Risks
Navium Marine, the marine-focused specialty MGA operating through The Fidelis Partnership’s Pine Walk platform, announced the launch of the “Constellation Consortium,” which it described as “the largest satellite pre-launch consortium in the Lloyd’s market.” With the global satellite sector continuing …
FEMA Adds Another $33M for Helene Recovery in North Carolina
The Federal Emergency Management Agency announced another $33 million in Hurricane Helene recovery projects in North Carolina, bringing the agency’s total spending on public assistance grants since the storm to more than $1 billion. The funding is on top of …
Michigan Reports Finds 2019 Auto Reform Reduced Insurance $357
The Michigan Department of Insurance and Financial Services this month released a report on the impact of the state’s 2019 auto insurance reform and found cost was reduced an average of $357 per vehicle. “In 2019, Democrats and Republicans in …
Reuters: Ben & Jerry’s Board Chair Won’t Resign as Pressure Mounts From Unilever Unit
The chair of Ben & Jerry’s independent board said she has no plans to resign as Unilever pressured her ahead of Monday’s public spinoff of its Magnum ice cream division, which will include the Vermont-based brand. Magnum, a longtime division …
Disney’s New Disability Access Policies Are Too Restrictive, Lawsuit Contends
Changes that Disney made to a popular program that lets qualifying disabled people skip long lines at its California and Florida theme parks are too restrictive, disabled fans contend in a federal lawsuit and shareholder proposal that seek to expand …
Texas Plan to Stop Parasitic Fly From Destroying Cattle Population Is Not Complete
As Mexican officials battle the spread of New World Screwworm, Texas officials are still working to finalize a response plan that would be enacted should the parasitic fly spread into the state. Texas lawmakers questioned state and federal officials on …
US Slaps New Charges on Ukrainian Over Russian Cyberattacks
The US Department of Justice unveiled additional charges against a Ukrainian woman accused of supporting Russian state-backed cyberattacks against critical infrastructure. Victoria Eduardovna Dubranova, 33, was indicted on Tuesday over her alleged links to a Moscow-sponsored group, the DOJ said …
Massachusetts Asks Judge to Block Kalshi From Operating Sports-Prediction Market
addictioA Massachusetts judge on Tuesday questioned whether prediction-markets operator Kalshi could legally offer the state’s residents the ability to place financial bets on something as “trivial” as who wins sporting events without running afoul of gaming regulators. Suffolk County Superior …
WTW to Acquire Newfront in Deal Worth Up to $1.3B
Broker WTW said it has a definite agreement in place to acquire Newfront for up to $1.3 billion in a move to expand its middle-market reach in specialties such as technology, fintech, and life sciences. The transaction is expected to …
Truckers Who Fail English Tests Are Pulled Off Roads in Crackdown
Truck drivers are encountering a new risk on the highway: Law enforcement officers are empowered by the Trump administration to pull them off the road if they fail an English test. The government argues the rules are critical to safety. …
EU Strikes Deal on Climate Target to Cut Emissions by 90% by 2040
The European Union agreed on Wednesday to set a legally binding climate target to reduce greenhouse gas emissions by 90% from 1990 levels by 2040, and buy foreign carbon credits to cover 5% of the emissions cuts, goals that fell …
World Watches First Teen Social Media Ban Start in Australia
Australia’s social media ban for youths took effect Wednesday, a landmark move that’s drawn global attention at a time governments are increasingly enacting rules to shield minors from toxic content and cyberbullying. The law, passed last year, mandates services such …
Beijing Court Orders Malaysia Airlines to Pay Damages to Families of MH370 Victims
A Beijing court has ruled Malaysia Airlines must pay 2.9 million yuan ($410,000) each to the families of eight passengers who went missing in the disappearance of Flight 370 more than a decade ago. The court ordered the airline to …
Asahi Sales Drop Worsens as Cyber Hack Disruption Lingers
Asahi Group Holdings Ltd.’s November beer and other alcohol sales in Japan fell more than the previous month, underscoring the challenges the company faces in recovering from a cyberattack that crippled production and distribution. Asahi said on Wednesday monthly alcohol …
Japan’s Cyber Chief Warns Nation Still Behind on Cybersecurity
Japan still lags behind the US and Europe in defending against cyber threats and improvements are needed across the corporate sector, the nation’s new cyber chief said. “We have our intention to improve our capability, but it’s just started,” National …
Private Equity Firm Brookfield Targets Global Dominance in P/C Insurance Coverage
Brookfield Corp. plans to build its property and casualty insurance business as it looks to exploit a corner of the insurance industry in which the firm has a competitive edge and hasn’t been crowded by other private equity players. The …
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