Russia Is Trying to Overwhelm Europe With its Sabotage Campaign: Western Officials
In November, a train carrying almost 500 people came to a sudden halt in eastern Poland. A broken overhead line had smashed several windows, and the track ahead was damaged. Elsewhere on the line, explosives detonated under a passing freight …
British Regulator Cracks Down on Home, Travel Insurers
Britain’s financial watchdog on Thursday laid out its efforts to raise standards in the home and travel insurance market after a consumer group made a rare “super-complaint” against the regulator, accusing it of letting customers down. The Financial Conduct Authority …
India’s Big-Bang Financial Reforms Target Foreign Money
India’s long-awaited package of financial services reforms is setting the stage for a surge of foreign capital into the world’s fastest-growing major economy. In the latest step, lawmakers passed a bill this week allowing up to 100% foreign ownership of …
Catastrophe Bonds Linked to Wildfires Lose ‘Untouchable’ Status
Alternative investment managers are starting to take a serious interest in catastrophe bonds tied to wildfires, moving into a risk category that just a few years ago was seen as too difficult to model. More than $5 billion of cat …
Tesla Door Safety Issues Have Owners Buying Car Escape Tools
Tesla owners are going to extreme lengths to deal with a problem most had never imagined: being unable to open malfunctioning doors.
Odometer Fraud Sees 14% Jump in the Past Year
An estimated 2.45 million cars on the road likely have their odometers rolled back, 14 percent more than last year, according to vehicle history provider CARFAX. There was just a 4 percent increase between 2023 and 2024. “Odometer rollbacks occur …
UPS Ripped Off Seasonal Workers With Unfair Pay Practices, Lawsuit Alleges
UPS stole tens of millions of dollars in pay from seasonal workers who help the shipping giant deliver packages during the busy holiday season, forcing some to clock in well after their shifts started and deducting pay for lunch breaks …
Higginbotham Adds Energy Sector Specialty Firm in Georgia
Higginbotham, ranked as one of the top-20 largest independent insurance brokerages in the U.S., has continued its growth with the addition of Charter Energy, a specialty insurance brokerage in Atlanta. Charter was founded in 1986 by Pete Lunati and is …
People Moves: Siry Joins Patriot Growth; Starkweather & Shepley Names Zito
Siry Joins Patriot Growth Insurance Services as COO Patriot Growth Insurance Services LLC, headquartered in Fort Washington, Pennsylvania, appointed Darryl Siry as chief operating officer (COO). Siry has over 25 years of experience leading technology, operations and growth initiatives across …
X Corp. Sues Virginia Social Media Startup Over Bid to Claim ‘Twitter’ Brand
Elon Musk’s X Corp. sued a startup on Tuesday after it sought to cancel X’s Twitter trademarks so it can “bring Twitter back” as a new social media platform. X said in the lawsuit in Delaware federal court that its …
Contractor Again Exposed Workers to Cave-In, Excavation Hazards: OSHA
The Occupational Safety and Health Administration reported that it has again cited an Easton, Connecticut concrete and earthwork contractor for willfully failing to protect workers from cave-in and excavation hazards OSHA has proposed more than $1.2 million in fines after …
California Cuts PG&E’s and Edison’s Profits for Grid Investments
California regulators reduced the profit that utilities are allowed to make on infrastructure investments in an effort to rein in soaring electricity bills. Related: Massive Wildfire Liabilities Push Utilities to Use AI to Stop Blazes The move Thursday by the …
California Commissioner Orders Moratorium on Cancellations Over Pack Fire
Insurance Commissioner Ricardo Lara ordered a mandatory one-year moratorium to prevents homeowners’ insurance cancellations and non-renewals for Pack Fire victims following an emergency declaration. Lara ordered insurers to preserve residential property insurance coverage for more than 14,800 policyholders affected by …
Davis & Towle Adds Keene Agency to Its New Hampshire Group
Davis & Towle Insurance Group, a large New Hampshire independent insurance agency, now has 13 agency locations in its group across the state with the addition of The Insurance Source. The Insurance Source in Keene has served the Greater Monadnock …
AIG Partners With Amwins, Blackstone to Launch Lloyd’s Syndicate Using Palantir
American International Group (AIG) said it has teamed up with specialty insurer Amwins and asset manager Blackstone to launch a Lloyd’s syndicate, using its relationship with Palantir to assist in assessing the portfolio. AIG said Syndicate 2479 will start underwriting …
Apollo Expands Asset-Level Risk Reviews to Reflect Impact of Extreme Weather
Apollo Global Management Inc. is building out its risk review process to reflect the impact on asset valuations of extreme weather. The decision comes amid a rise in the damage done to physical assets by floods, storms and wildfires. Apollo, …
Vantage Group to Be Acquired by Ackman-Backed Howard Hughes Holdings for $2.1B
Vantage Group Holdings Ltd., the privately held specialty re/insurer, has entered into a definitive agreement to be acquired by Howard Hughes Holdings Inc. (HHH) for approximately $2.1 billion. The Vantage deal, which is expected to close in the second quarter …
Former National General Loss Rep and Mom Charged With Fake Claims Scam
A former loss representative for National General Insurance Co. and his mother allegedly ran a scheme in 2022 that involved false claims, a fake towing company and a $141,000 loss for the insurer. Horace Kelly, 40, and his mom, Greta …
Iowa AG Sues Roblox for Allegedly Failing to Protect Kids on Gaming Platform
Attorney General Brenna Bird announced she has sued the online gaming company Roblox for allegedly failing to take necessary steps to protect Iowa kids from sexual exploitation, facilitating distribution of child sex abuse material, and failing to warn Iowa parents …
Munich Re Offers Geothermal Risk Insurance in State-Backed Drive
Insurer Munich Re and Germany’s KfW Development Bank are introducing a state-backed program to mitigate the financial risk of geothermal drilling and encourage exploration for the renewable heat and power source. Geothermal power is an abundant energy source that can …
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Comunicados de prensa más recientes
Gran Caimán, Islas Caimán, 1o de octubre de 2020. El CCRIF SPC ha lanzado su nuevo producto de seguros paramétricos, que ha sido desarrollado para el sector de servicios públicos de electricidad en el Caribe. Según el Director Ejecutivo del CCRIF, Sr.
Gran Caimán, Islas Caimán, 24 de junio de 2020. El CCRIF SPC realizó un pago de US$203.136 al Gobierno de Belice por su póliza de seguro paramétrico de exceso de lluvia después de tres días de fuertes lluvias durante las tormentas tropicales Amanda y Cristóbal. Amanda fue un ciclón tropical que se originó en el Océano Pacífico y provocó lluvias que afectaron a Belice el 30 de mayo y luego se debilitaron.
Gran Caimán, Islas Caimán, 22 de junio de 2020. El CCRIF pagó al Gobierno de Guatemala aproximadamente US$3,6 millones bajo su póliza de seguro paramétrico de exceso de lluvia (XSR) por nueve días de lluvia que ocurrieron durante las tormentas tropicales Amanda y Cristóbal. La póliza se activó por las lluvias que comenzaron el 31 de mayo.
Gran Caimán, Islas Caimán, 16 de junio de 2020. El CCRIF SPC se complace en anunciar que los países miembros del Consejo de Ministros de Hacienda o Finanzas de Centroamérica, Panamá y República Dominicana (COSEFIN) recibirán beneficios especiales en las pólizas de seguro paramétrico del CCRIF SPC para el año de póliza 2020/21 como apoyo a la respuesta regional a la pandemia de COVID-19.
Gran Caimán, Islas Caimán, 2 de junio de 2020.