Heavy Rain Causes Floods in New Zealand’s Canterbury Region, Forcing Evacuations

WELLINGTON, New Zealand (AP) – Several hundred people in New Zealand were evacuated from their homes Monday with some recounting dramatic helicopter rescues as heavy rain caused widespread flooding in the Canterbury region. Authorities declared a state of emergency after …

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Swiss Financial Watchdog Requires Insurers, Banks to Disclose Climate Change Risks

ZURICH – Large Swiss banks and insurance companies will have to provide qualitative and quantitative information about risks they face from climate change, Swiss financial watchdog FINMA said on Monday as it released an amended publication on disclosure. FINMA’s updated …

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German Insurtech Wefox Raises $650M in Funding, Valuing Firm at $3B

BERLIN – Digital insurance startup Wefox said on Tuesday it had raised $650 million from investors, in what it called a record-breaking round for a so-called insurtech company that valued the business at $3 billion. The funding means Berlin-based Wefox …

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Workers’ Comp Insurer SUNZ Expands into 13 Additional States

Florida-based SUNZ Insurance Co. is now licensed to write workers’ compensation policies in 13 additional states: Hawaii, Iowa, Nevada, New Hampshire, New Mexico, South Carolina, South Dakota, Utah, Vermont, Virginia, West Virginia and Wisconsin. With the addition of these states, …

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Wrongful Death Suit Filed Against County, Insurers Over Fatal 2020 Alabama Marina Fire

A lawsuit filed over a dock fire that killed eight people at a county marina in north Alabama last year contends officials failed to ensure the safety of the structure. The wrongful death suit names Jackson County commissioners at the …

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Too Little, Too Late? Breaking Down Florida’s Latest Property Insurance Reforms

A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop the state’s out-of-control …

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U.S. Updates Guidance on COVID Vaccine Mandates, Incentives, Privacy in Workplace

Federal employment laws do not prevent an employer from requiring all employees physically entering the workplace to be vaccinated for COVID-19, the Equal Employment Opportunity Commission (EEOC) has affirmed. Also, employers may offer incentives for employees to get vaccinated and …

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AssuredPartners Acquires Anchor Pardue Insurance of Alabama

AssuredPartners has acquired Anchor Pardue Insurance of Mountain Brook, Ala. Anchor Pardue is the second acquisition in May for Assured Partners and its 18th acquisition in 2021. The team will remain under the leadership of Richard Pardue, president, and Lisa …

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FEMA Approves More Flood Aid for 22 Kentucky Counties

Kentucky’s request for individual assistance for 22 additional counties hit by severe flooding has been approved by the Federal Emergency Management Agency, Gov. Andy Beshear said Friday. Assistance can include grants for temporary housing and home repairs, plus low-cost loans …

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Generali Launches $1.4 Billion Bid to Buy Remaining Shares of Italy Rival Cattolica

Italy’s largest insurer Assicurazioni Generali SpA launched a 1.2 billion-euro ($1.4 billion) bid to buy all the shares it doesn’t already own in smaller rival Societa Cattolica di Assicurazioni, as part of a strategy to cement its already-commanding presence in …

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Employees Sue Texas Hospital Network to Halt Vaccine Mandate

A group of 117 healthcare workers at a Texas hospital filed a lawsuit in state court against their employer’s mandate requiring all staff to get COVID-19 vaccinations, Washington Post reported on Saturday. Employees of Houston Methodist Hospital said in the …

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Inspector General Finds Trump EPA Officials Improperly Influenced Dicamba Approval

Environmental Protection Agency officials improperly influenced a decision to re-approve use of dicamba, a herbicide blamed for crop damage in hundreds of lawsuits, during the Trump administration, according to an internal agency report. “We found that the EPA’s 2018 decision …

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Pennsylvania Drops Legal Action Against Restaurants Over Pandemic

The Pennsylvania Department of Health has dropped its legal action against more than 40 restaurants that were accused of defying state orders to close indoor dining and maintain social-distancing protocols. The Health Department had filed two separate complaints alleging that …

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New Hampshire Sex Abuse Class-Action Suit Tossed, Individual Claims Stand

A judge on Wednesday dismissed a class action lawsuit involving 300 people who allege decades of abuse at New Hampshire’s youth detention center, but he left the door open for individual claims against the state. The lead plaintiff, David Meehan, …

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Woman in Racist Central Park Confrontation Sues Employer Over Firing

The white woman who was widely condemned and fired after a videotaped dispute with a Black birdwatcher in Central Park filed a lawsuit against her former employer, accusing the company of not doing an investigation before her termination because of …

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Internet Groups’ Lawsuit Claims Florida Social Media Law Is Unconstitutional

Two tech trade groups filed a lawsuit against Florida on Thursday over a new law that would fine social media companies that ban political candidates, which they said violated free speech rights. The lawsuit, which said the bill signed by …

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Attorney Dershowitz Files $80 Million Defamation Suit Against Netflix

Attorney and Harvard law professor Alan Dershowitz is suing Netflix for $80 million over his portrayal in the streaming service’s “Filthy Rich” series about sex offender Jeffrey Epstein. The lawsuit, filed Wednesday in Miami federal court, contends that Netflix intentionally …

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India Oil Giant Under Fire for Offshore Disaster During Cyclone Tauktae

When India’s weather office sent out cyclone warnings on May 13 and most vessels moved to safety, one barge working on Oil and Natural Gas Corp.’s field off the Mumbai coast stayed put. That decision would prove fatal when Tauktae, …

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Cyber Insurers Seeing Surge in Interest by Energy Companies Since Pipeline Attack

U.S. energy companies are scrambling to buy more cyber insurance after this month’s attack on Colonial Pipeline disrupted the U.S. fuel supply, but they can expect to pay more as cyber insurers plan to hike rates following a slew of …

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Australia Weighs Capping Fees for Litigation Funders, Lawyers as Class Actions Surge

SYDNEY – Australia is considering capping fees for litigation funders and lawyers, and guaranteeing a minimum rate of return for plaintiffs, in its latest clamp down on the industry following a surge in costly class action lawsuits. Australia’s government last …

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COVID Takes Big Bite from Multiline Insurers’ Earnings, but It’s a Manageable Event: S&P

The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit figure was down from $56 …

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Ford Halts Production at Southern India Plant as COVID-19 Cases Surge

CHENNAI – Ford Motor Co. said it will halt production at its car plant in India’s southern state of Tamil Nadu after workers staged a lunchtime sit-in protest on Thursday, demanding leave and health benefits, as the country battles the …

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Suez Canal Blames Container Ship’s Grounding on Its High Speed, Size of Rudder

ISMAILIA, Egypt – The container ship that got stuck in the Suez Canal in March was struggling to steer because of its high speed and the size of its rudder, and could have chosen not to enter the waterway in …

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Experts Say Texas Is Missing Chance to Avert Deadly Blackouts

Elzie Ford lost power in his freezing home for nearly a week during February’s catastrophic blackouts in Texas. By the time the 68-year-old widower was found on the floor, his hands were purpled with frostbite. He died the next day. …

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Texas Asks Feds for $750M More in Harvey Relief Funds

Texas Land Commissioner George P. Bush said he is requesting $750 million in federal funds to be sent directly to Harris County after the county and Houston were awarded $0 out of the $1 billion pot in the latest round …

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Critics Decry New North Dakota Asbestos Law; Urge Screenings

Labor unions and veterans groups are urging North Dakotans who may have been exposed to asbestos to get screened before a new law takes effect that will make it more difficult to sue. Backers of the law, which will bar …

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Internet Groups Warn Against Including Liability Shield in Trade Deals

A coalition of internet accountability groups is warning the Biden administration against including liability protections for tech companies in future trade agreements, saying that could hamstring efforts to hold platforms responsible for user content. In a letter sent to President …

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New Insurtech Advisor Insurance to Target Risks of Wealth Managers

K2 Placements and Wealth Advisor Growth Network (WAGN) have partnered on an insurtech platform for wealth managers buying business insurance to protect their firms. The new platform, Advisor Insurance, was designed to simplify the business insurance process for wealth managers …

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Nashville Apartment Fire Destroys 18 Units

A fire destroyed at least 18 units at a Nashville, Tennessee, apartment complex Monday night, fire officials said. News outlets reported that fire crews were called to the Brentwood Oaks Apartments around 8 p.m. Fire hydrants close to the building …

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3K Alabama Homes Now Strengthened to IBHS FORTIFIED Standards

The Strengthen Alabama Homes program has funded grants for 3,000 FORTIFIED roofs to help families protect their homes from severe weather, the Insurance Institute for Business & Home Safety (IBHS) said in a statement. The Strengthen Alabama Homes program, which …

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USAA to Open Office in Charlotte, N.C., Add Hundreds of Workers

USAA will open a new office in Charlotte, N.C., later this year. The financial services company, which serves the military community, entered into a lease agreement for The Square at South End located at 200 West Boulevard, which will eventually …

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South Dakota Voters Passed Medical Pot, but Docs Hesitant

Medical marijuana advocates have convinced South Dakota voters that legalizing the drug for medical use is a good idea, but they are struggling to do the same with many of the state’s physicians. A split between the state’s largest doctors’ …

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Car Crashes Through Roof of Missouri Home but No One Injured

Firefighters in suburban St. Louis said it’s astonishing no one was injured in a weekend crash that saw a car flip end-over-end down an embankment and crash through the roof of a home just feet from where two people were …

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Wild Well Catches Fire in Louisiana; Workers Injured

At least seven people were injured when a wild well in a coastal Louisiana marsh caught fire while they were trying to control it, news outlets report. The owners said that the fire was out within two hours after it …

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4 Killed in Florida Firefighting Helicopter Crash

A firefighting helicopter with four people on board crashed near an airport in central Florida, killing at least one person, officials said. The helicopter crashed into a marsh near Leesburg International Airport during a training exercise around 4 p.m. Tuesday, …

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AM Best: Florida’s Property Insurance Market Hit 5-Year Financial Low in 2020

AM Best’s composite of Florida property insurance companies hit five-year performance and surplus lows in 2020, and given persisting and significant market hurdles, companies will find sustaining current surplus levels a challenge, according to a new commentary from the ratings …

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Texas Nurse Practitioner Gets 20 Years, Must Pay Over $52M in Healthcare Fraud Case

A Waxahachie, Texas, nurse practitioner has been sentenced to 20 years in federal prison and ordered to repay more than $52 million in restitution for his role in a healthcare and insurance fraud scheme, according to Acting U.S. Attorney for …

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Italian Police Arrest 3 People After Funicular Disaster Kills 14

ROME (AP) – Police arrested three people Wednesday in the cable car disaster that killed 14 people in northern Italy, saying workers placed a clamp on the emergency brake to deactivate it as a patchwork repair – one that prevented …

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Cyber Insurers Hike Rates But Worry About Pricing Long-Term As Losses Mount: Fitch

U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings. Fitch predicts that immediate improvement is unlikely this year from these actions and …

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Penn. Court Says Tavern Entitled to Business Income Coverage for COVID-19 Losses

An insurer could have to pay for a Pennsylvania tavern’s business interruption losses after it shut down due to the COVID-19 pandemic because of a two-letter word in its policy. The Pennsylvania Court of Common Pleas for Allegheny County has …

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New U.S. Rules Require Pipelines to Report Cyber Incidents, Mitigate Risks

The Department of Homeland Security issued a new security directive for pipeline owners and operators on Thursday after a hack of the Colonial Pipeline disrupted fuel supplies in the southeastern United States for days this month. “The recent ransomware attack …

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BMS Launches Operations in Turkey, Hires Executive Team

BMS, the London-based independent specialist insurance and reinsurance broker, announced it has launched operations in Turkey. Called BMS Sigorta ve Reasürans Brokerliği, or “BMS Turkey,” the business is headquartered in Istanbul. Servet Gurkan, chairman, will lead the new operation along …

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Residents Debate Reopening of Car-Free San Francisco Streets

For Vanessa Gregson, the four-lane highway that borders the beach along San Francisco’s Pacific Ocean is now an automobile-free sanctuary where she can blissfully ride her bicycle and enjoy the quiet. “You hear the beach. You hear the waves,” said …

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Ag Groups Upset with Washington Governor for Farm Worker Rules

Some top agriculture groups are upset with Washington Gov. Jay Inslee because farm workers were not covered in last week’s announcement that fully vaccinated employees do not have to wear a mask or socially distance at work. Inslee also recently …

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Lloyd’s, London Insurers Form Joint Venture with DXC to Transform Digital Processing

Lloyd’s and insurers in the London company market have formed a joint venture with DXC Technology, which aims to transform digital capabilities and reduce processing costs for the London insurance markets. The joint venture intends to “deliver both world class …

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Lawsuit Dismissed in Death of Woman Buried in Maryland Beach Sand

The lawsuit surrounding the death of a woman who was accidentally buried alive on a Maryland beach by a tractor has been dismissed from federal court. The Daily Times reports that attorneys representing Ocean City and the victim’s mother filed …

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Pennsylvania Lawmakers Now Hold Fate of Regulations Waived Amid Pandemic

With voters shifting major new responsibilities to them, Pennsylvania’s state lawmakers are now tasked with deciding whether hundreds of state government regulations waived during the COVID-19 pandemic should be reinstated. This massive review is fueled by Tuesday’s referendum in which …

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Bayer Unveils New Roundup Risk Management Plan After $2B Proposal Fails

Bayer said today it will initiate a series of actions to address potential future litigation over its Roundup weedkiller product following the rejection of its $2 billion Roundup class settlement yesterday by a U.S. judge. Bayer said the new package …

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Suez Canal Authority Is Open to Further Talks with Owners of Seized Container Ship

CAIRO – The Suez Canal Authority (SCA) said on Tuesday it was still open to negotiating with the owners of a giant container ship which blocked traffic in the waterway for six days in March despite an ongoing litigation process …

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Ardonagh Group Agrees to Purchase BGC’s Insurance Brokerage Business for $500M

The Ardonagh Group, a leading UK insurance broker, announced it has agreed to acquire the insurance operations of BGC Partners Inc. for $500 million in cash. The transaction is expected to close in the second half of 2021, subject to …

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Rising Global Temperatures Move Closer to Climate Change Tipping Point: U.N. Report

There is now a 40% chance that global temperatures will temporarily reach 1.5 degrees Celsius above pre-industrial levels in the next five years — and these odds are rising, a U.N. report said on Wednesday. a U.N. report said on …

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Shell Loses Landmark Climate Case in Ruling with Global Implications for Big Oil

THE HAGUE/LONDON – A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around the world. Shell said it was “disappointed” …

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Chubb Updates Lower Middle Market Commercial Package Product

Chubb has rolled out a new insurance product for the lower middle market segment with an expanded base coverage offering in both property and liability. Benchmarq Package features scalable property and general liability coverages to protect clients from the risks …

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After Dutch Ruling Against Energy Company, Focus Turns to U.S. Climate Lawsuits

A landmark ruling on Wednesday by a Dutch court ordering Royal Dutch Shell to drastically cut its planned greenhouse gas emissions could impact the United States where most of the world’s climate cases are being litigated. About 1,375 lawsuits seeking …

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People Moves: Island Insurance Names Kuioka COO, The Liberty Company Insurance Brokers Adds Newman in California

Island Insurance Co. has promoted Scott Kuioka to senior vice president and chief operating officer. Kuioka will continue to serve as chief investment officer and chief risk officer, and oversee the commercial lines-large accounts division, and the personal lines, reinsurance, …

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Judge Rejects Bayer’s $2 Billion Proposal to End Roundup Litigation

A U.S. judge rejected Bayer’s $2 billion class action proposal aimed at resolving future lawsuits alleging its Roundup weedkiller causes cancer, saying in a Wednesday order that parts of the plan were “clearly unreasonable.” U.S. District Court Judge Vince Chhabria …

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Northwestern Oklahoma Shaken by Preliminary Mag 4.5 Quake

A strong earthquake measured at a preliminary magnitude of 4.5 rattled a small northwestern Oklahoma town Tuesday but apparently caused no injuries or significant damage. The U.S. Geological Survey reported the quake struck about 1:25 p.m. near Shattuck, a town …

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Renault-Nissan Shuts South India Plant Until May 30 on COVID Safety Concerns

CHENNAI – Automaker Renault-Nissan will shut its plant in India’s southern Tamil Nadu state until May 30, according to an internal note and two sources familiar with the matter, a day after workers said they would strike over coronavirus-related safety …

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Fire Displaces 50 People from Delaware Apartment Complex

More than 50 people have been displaced by a fire at a Delaware apartment, according to the state fire marshal’s office. Officials estimate that Saturday afternoon’s fire at the Lighthouse Hill Apartments complex in Wilmington caused more then $1 million …

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Phase One of Autonomous Corridor Project Begins in Maryland City

Drones, robots and self-driving cars were buzzing through downtown Westminster on Thursday for the ribbon-cutting of the first phase of MAGIC’s autonomous corridor project. MAGIC, which stands for Mid-Atlantic Gigabit Innovation Collaboratory, is a technology nonprofit in Carroll County and …

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U.S. Says Rules on Pilots’ Records Database Being Finalized

The Federal Aviation Administration said Wednesday it is finalizing rules establishing a long-delayed electronic pilot records database demanded by Congress in 2010 in the wake of a fatal crash. In March, the FAA published proposed rules to establish a new …

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Maine Lawmaker Sued Over Trees Cut Down on Neighbors’ Land

A state lawmaker from Maine is facing a lawsuit from neighbors who say she and her husband cut down thousands of trees from their property to build a barn and horse paddock. Sasha and Christopher Malone filed the lawsuit against …

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People Moves: Embroker Names 2 Execs; Markel Promotes Castriotta; Kaufmann, McPhail Join WTW; Laufer, Pignataro to AGS Executive Team

Digital commercial lines insurer Embroker announced the appointment of a chief insurance officer and a chief technology officer. Steve Prymas, Embroker’s new chief insurance officer, brings 20 years of experience to the company, having served as vice president, Specialty Lines …

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Ex-UCLA Doctor Indicted on 21 Sexual Abuse Counts

A grand jury indicted a former gynecologist at the University of California, Los Angeles on 21 counts of sexual abuse offenses in a case where he is accused of sexually assaulting seven women, court documents say. Dr. James Heaps faces …

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Technology Upgrades Follow Cyberattack on Alaska Courts

The Alaska court system said it is taking steps aimed at avoiding future cyberattacks, such as upgrading software and “investing in technology that can better protect our systems from intrusion.” The court system, in a statement, said it continues to …

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California Seeing More Wildfires as Drought Intensifies

As California sinks deeper into drought it already has had more than 900 additional wildfires than at this point in 2020, which was a record-breaking year that saw more than 4% of the state’s land scorched by flames. The danger …

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Storm Surges Inundate Villages in Eastern India as Cyclone Yaas Moves Inland

BHUBANESWAR, India – Storm surges inundated dozens of villages in eastern India on Wednesday after a powerful cyclone moved inland from the Bay of Bengal, damaging thousands of mud homes in two coastal states and killing at least one person, …

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Alabama Prohibits Businesses, Agencies From Requiring Vaccine Passports

Alabama Governor Kay Ivey on Monday signed a bill that prohibited private businesses and public institutions from requiring COVID-19 “vaccine passports” to access services or refusing those not inoculated against the coronavirus. “I’ve signed SB 267! Since the development of …

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Many Workers Begin to Return to Offices Transformed by COVID Safety Innovations

Masked, desk-bound and unable to recognize their colleagues in an elevator, people are starting to return to offices in cities around the world where the pandemic is receding. Many will find their offices transformed, too. In the challenge to make …

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How 3D Technology is Deepening Claims Efficiency in Insurance

The use of 3D technology has been a topic of discussion in insurance for years, but for an industry that is historically slow to adopt technological change, its impact has not yet been as widely felt as originally thought. However, …

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D&O Specialist MGA, Rising Edge, Launches with 4 Senior Appointments

Rising Edge, a London-based directors and officers (D&O) managing general agent, announced its official launch with the appointment of four key hires. As previously announced, Rising Edge will focus on D&O insurance and is led by Philippe Gouraud, a well-known …

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Biden Administration Working to Boost Cybersecurity of Pipeline Companies

The Biden administration is working with pipeline companies to strengthen protections against cyberattacks following the Colonial Pipeline hack, with announcements of actions planned in coming days, the Department of Homeland Security (DHS) said on Tuesday. A ransomware attack forced Colonial …

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Finland’s Sampo Sells $1.7B Stake in Nordea Bank, as It Moves Ahead with Planned Exit

The biggest shareholder in Nordea Bank Abp offloaded another chunk of its stake as it moves ahead with a planned exit from the Nordic region’s largest bank. Sampo Oyj sold 162 million shares in Nordea to institutional investors for 8.50 …

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Ransomware Attack Still Disrupting IT Systems of New Zealand Hospitals

Systems are still down a week after a ransomware attack disrupted the IT network of five hospitals in the New Zealand district of Waikato, and concerns remain that private patient information may have been exposed. Patients are being asked to …

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HSB Adds Coverages for Smart Farm Technology, Equipment

HSB, part of Munich Re. has launched HSB Precision Ag insurance, a suite of coverages for evolving farm data risks, technology and state-of-the-art equipment. Designed for large commercial enterprises and smaller family farms, the coverage combines equipment breakdown and cyber …

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Investigators Seek Cause of House Boat Explosion on Tennessee River

A woman was killed and a man was injured when a house boat exploded on a Tennessee river Sunday afternoon, according to the state Wildlife Resources Agency. The explosion happened shortly after the 38-foot (12-meter meter) vessel refueled near the …

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People Moves: The Plexus Groupe Adds Stollenwerck as VP; New Leadership at ANCO Insurance

The Plexus Groupe Commercial insurance brokerage and consulting firm, The Plexus Groupe, has named industry veteran John Stollenwerck to vice president of Business Development. He is based in Dallas. Stollenwerck has more than 20 years of client service experience across …

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USDA: February Storms Created Ag Disaster Area in Louisiana Parish

The U.S. Department of Agriculture has designated Rapides Parish, Louisiana, as a primary natural disaster area because of the winter storm and ice from Feb. 15-21. Producers in Rapides and the seven parishes that touch it are eligible to apply …

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Despite Safety Questions, Tesla Sticks With Autopilot Cameras Without Radar Sensor

Tesla Inc. said on Tuesday its Model 3 and Model Y vehicles will be equipped with cameras and no radar sensor for semi-automated driving in North America starting this month. The move came amid growing scrutiny by regulators and media …

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Wolves to Thank for 24% Drop in Deer-Auto Collisions

Ecologist Rolf Peterson remembers driving remote stretches of road in Michigan’s Upper Peninsula and seeing areas strewn with deer carcasses. But that changed after gray wolves arrived in the region from Canada and Minnesota. “When wolves moved in during the …

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California Aiming to Ease Virus Rules for Workers in Mid-June

California workforce regulators will aim for a mid-June easing of workplace mask and social distancing requirements to conform with a broader state order, postponing a vote on whether to revise coronavirus safety rules for employees. Cal/OSHA’s staff said it would …

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Earthquake Hits Beneath South Flank of Hawaii Volcano

A magnitude 4.2 earthquake struck Sunday beneath the south flank of Kilauea Volcano on the island of Hawaii, the U.S. Geological Survey’s Hawaiian Volcano Observatory confirmed. The earthquake was centered about 9 miles south of the volcano, at a depth …

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Swedish Tech Start-up Haidrun Launches Blockchain Platform Targeted at Re/Insurers

Swedish tech start-up Haidrun has launched an enterprise blockchain platform targeted at insurers and reinsurers. Haidrun’s private blockchain platform eliminates suspicious and duplicate transactions by securely and chronologically logging each event, document or transaction. Once verified, actions are cryptographically sealed …

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To Protect a Community from Climate Change, New York is Elevating a Park

Superstorm Sandy flooded lower Manhattan in 2012 with nearly 5 feet (1.5 m) of water, swamping the city’s subway and destroying homes and businesses. The storm and its aftermath were a wake-up call that New York City was not immune …

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People Moves: AFL’s Ralf to Ballantyne; Arab Insurance Group’s Albaharna to Trust Re; Hunt Promoted at Chaucer as Lines Plans to Retire

This wrap-up of international People Moves details recent appointments at Ballantyne Brokers; Bahrain’s Trust International Insurance and Reinsurance Co., and specialty re/insurer Chaucer. A summary of these new hires follows here. Ballantyne Brokers Ltd., the independent London broker, announced the …

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Insurance Techknowledgy: Vertafore Unleashes Analytics for Agencies; MGA Mile Auto Raises $10.3M, Partners With Ford

Insurance agency technology firm Vertafore has released a product it says puts the power of data and analytics into the hands of independent agencies. The new offering, MarketTrends, helps agencies identify coverage trends, cross-sell opportunities and appropriate markets in an …

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Crypto Insurer Evertas Raises $5.8M in Seed Funding

Evertas, a cryptoasset insurance company, said it has raised nearly $5.8 million in seed funding, which it will use to accelerate product development, increase its insurance cap[a city and build out its infrastructure. The insurer is focused on covering institutional …

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Impending Dutch Court Decision to Test Shell’s Responsibility for Climate Change

A Dutch court verdict against Royal Dutch Shell Plc will determine whether it has a legal responsibility for climate change, in a case that will be watched by Big Oil executives globally. A panel of judges in a lower court …

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Generali Opens Representative Office in Brussels to Build Access to EU Decision-Makers

Italian insurer Generali has opened a representative office in Brussels to strengthen public affairs activities with the European Union. Generali said it aims to represent its business priorities while, at the same time, playing an increasingly active corporate citizenship role …

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Renault-Nissan, Hyundai Face Factory Closures in India over Workers’ COVID-19 Fears

CHENNAI, India – Automakers Renault, its alliance partner Nissan Motor Co. and Hyundai Motor Co. face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan’s car plant in the southern …

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Industry Veteran Charman to Retire from Sompo Int’l, Succeeded by Zurich’s Shea

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property/casualty insurance and reinsurance, announced that after eight years with the company and more than five decades in the industry, John Charman will retire from Sompo International at the end of …

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Homeowner Seeks $5M in Lawsuit Over ‘Rotten Egg’ Smell from S.C. Mill

A pulp and paper mill in South Carolina emits fumes that smells like rotten eggs and which nearby residents say have caused headaches and sore throats, a North Carolina homeowner says in a lawsuit. Kenny White, who lives in the …

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Louisville Welcomes Justice Dept. Investigation of City’s Policing

For the people marching in the streets for more than a year after the killing of Breonna Taylor, a wide-ranging new federal investigation of policing in Louisville is seen as one more chance for justice. The demonstrations big and small …

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Judge Rejects State’s Argument in South Dakota Sinkhole Case

A judge has rejected the state of South Dakota’s argument that homeowners in a Black Hawk neighborhood lack legal standing to seek damages due to a sinkhole. The Rapid City Journal reports Judge Kevin Krull’s May 14 ruling may now …

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Iowa DHS Employee Awarded $790K in Sex Harassment Suit

A jury has awarded an Iowa Department of Human Services employee $790,000 in damages in her lawsuit accusing the department of fostering sexual harassment. The jury handed down the award at the conclusion of the nearly two-week-long trial in a …

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Texas Rehab Center to Pay $146.6K to Settle Pregnancy Discrimination Suit

A Dallas rehabilitation facility will pay $146,613 to settle charges that it unlawfully fired an employee because of her need for additional leave to recover from caesarean section, according to the U.S. Equal Employment Opportunity Commission (EEOC). Dallas-based Greenhouse Outpatient …

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Ban on Handheld Phone Use While Driving Passes Louisiana House

Louisiana drivers would have to use a handsfree device or put their cellphones on speaker mode to talk on the phone while driving or risk a fine from police, under a proposal that won House backing. Republican Rep. Mike Huval, …

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Owners Will Rebuild Iowa Grain Elevator Following Explosion

A dust explosion at a central Iowa grain elevator earlier this month should not affect storage capacity or operations during this fall’s harvest, the company said. Landus Cooperative grain elevator in Jefferson said in a news release that it expects …

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Three Disasters Show Gaps in Infrastructure Plan

Three times this year, major pieces of U.S. infrastructure have failed: first the Texas power grid, then the East Coast’s main gasoline pipeline, then a freeway bridge over the Mississippi River. The crises disrupted businesses and lives, cost billions and …

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White House Boosts Spending for Disaster, Extreme Weather Preparations

The United States will double its spending to $1 billion on preparations for extreme weather and other natural disasters as part of the battle against climate change, the White House said on Monday. It issued the statement just ahead of …

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Former Washington Logger Charged in Nearly $300K Workers’ Comp Scam

A Cowlitz County, Wash., man stands accused of faking injuries to collect nearly $300,000 in workers’ compensation benefits. James Joseph Thomasson, 52, of Kalama, is scheduled to be arraigned Tuesday in Thurston County Superior Court on one count of felony …

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The Highs, Low of Agency Q1 Profitability and the Post-Pandemic Path Forward: Reagan

Insurance agencies reported a couple of highs and a low in first quarter profitability results, according to the latest Reagan Consulting Growth & Profitability Survey of the agency consulting firm’s agents and broker clients. Three industry measures were the best …

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Online Boating Marketplace Boatim Adds Insurance with Marine Broker Partner AMI

Boatim Inc., a company offering digital boating products and services, has launched an online boat insurance offering for U.S. customers. Through a partnership with international marine insurance broker American Marine Insurance (AMI), Boatim customers can access coverage from insurers Markel, …

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Air India’s February Data Breach Affected 4.5 Million Passengers

NEW DELHI – Personal data of about 4.5 million passengers of Air India was leaked in a cyber attack on the airline’s data processor but the compromised servers were later secured, the Indian state-run carrier said in a statement. The …

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Barclays Dragged into Bitter Feud Between SCOR and Covéa over Failed Hostile Takeover

Barclays Plc has been dragged into a bitter feud between two French insurers over its role in a failed hostile takeover bid. SCOR SE is suing Barclays in London for breach of confidence when the bank advised Covéa on its …

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Utica National Adds Crisis Response Services for Educational Institution Insureds

The member companies of the Utica National Insurance Group have partnered with Empathia, Inc. to provide crisis counseling services, and The Castle Group to provide crisis public relations services to its school policyholders. According to Brian Saville, Utica National Educational …

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India Braces for Second Severe Cyclone in 10 Days

India braces for the second severe storm in about 10 days, with authorities in the eastern region preparing to evacuate people to safer places at a time when the country is battling the world’s worst outbreak of COVID-19. Cyclone Yaas, …

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Bank of England Plans to Nudge Companies to Cut Greenhouse Gas Emissions

LONDON – The Bank of England set out plans on Friday to use its 20 billion pounds ($28.4 billion) of corporate bond holdings to nudge companies to cut greenhouse gas emissions faster, part of a wider government strategy to achieve …

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Hack of Leading Japanese Dating App Could Expose Personal Data of 2 Million Users

A leading Japanese matchmaking app was hacked, likely exposing the personal information of more than 1.7 million account holders, in the latest high-profile online attack. Net Marketing Co., which runs the Omiai dating app, said that it found evidence of …

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Delaware Man Sentenced to Prison for Role in $2M Fraud Plot

A Delaware man was sentenced on Friday to nearly four years in prison for his role in a plot to defraud a beauty product manufacturer out of more than $2 million. U.S. District Judge James Bredar in Baltimore also ordered …

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Pennsylvania Woman Sentenced to Jail for Filing False Auto Insurance Claims

A Morrisville, Pennsylvania, woman was sentenced to four to 23 months in county jail for submitting a series of false auto insurance claims over the past few years that defrauded two auto insurance companies of almost $40,000. Shaminga L. Davis …

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Vermont Law Restricts Sale of Products Containing PFAS

Vermont Governor Phil Scott has signed a bill into law that restricts the use, manufacture and sale of products in Vermont containing a group of toxic chemicals collectively known as PFAS. The products include certain firefighting foams and equipment, food …

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Beneath the Surface: Why Insurers Should Look Beyond “the Tip of the A.I. Iceberg”

Nearly 75% of respondents in a recent survey from the Coalition Against Insurance Fraud and Shift Technology said they believe that among relevant technology, artificial intelligence (A.I.) will have the greatest impact on claims and fraud detection over the next …

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Relaxed Mask Rules Make Some Retail Workers Nervous

An abrupt relaxation of mask policies has left workers at some retail and grocery stores reeling as they try to sort out what the new environment means for their own safety and relationship with customers. Kroger, the country’s largest grocery …

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Debate Over Liability Holds Up Self-Driving Car Legislation in Senate

A debate over who to blame — or sue — when a self-driven car hits someone is holding up legislation the industry says it needs to advance. “If another driver hits you, it’s clear who the driver is,” Sarah Rooney, …

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Two Takeaways from Delta-8 Conversation

Delta-8 is generating quite a buzz over what appears to be legal loophole enabling the production and sales of the intoxicating product in both legal and non-legal states. New York just became the latest state to ban delta-8 THC, as …

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People Moves: Hapworth to Lead Amwins’ AEU; Former NFLer Ayodele Joins Spoznik Agency; Century Risk Advisors Adds Sawyer

Hapworth Appointed CEO of Alabama-Based American Equity Underwriters The American Equity Underwriters, Inc. (AEU, an Amwins Company), a provider of workers’ compensation insurance for waterfront employers and program administrator for American Longshore Mutual Association Ltd. (ALMA), has picked Adele S. …

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Tennessee Opening 3 Recovery Centers for People Dealing with March Floods

Tennessee officials are opening three recovery centers to help people find assistance after flooding in March. The Tennessee Emergency Management Agency says the Multi-Agency Recovery Centers open Saturday in Nashville-Davidson, Williamson and Wilson counties. The Tennessee agency, the Federal Emergency …

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2 Atlanta Warehouses Damaged by Fire, Nearby Apartment Building Saved

Firefighters in Atlanta say they successfully contained a fire that engulfed two warehouses in the city overnight on Thursday. No injuries were reported and authorities said no one appeared to be inside the burning storage buildings. Atlanta Fire Department crews …

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Houston Area to Get little of $1B in Federal Harvey Flood Aid

Houston area officials expressed shock and anger on May 21 after learning that their communities, which suffered the brunt of damage from Hurricane Harvey, would be getting only a small part of the $1 billion that Texas is awarding as …

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Michigan Property Owners Win Key Court Ruling in Failed Dams Lawsuit

Property owners near dams that failed in the Midland area won a key decision in lawsuits against the state. Judge Cynthia Stephens said the lawsuits can go forward, rejecting a request to dismiss by the Department of Environment, Great Lakes …

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Deck Collapse at Ohio Home During Party Leaves 4 Hospitalized

The collapse of the deck of an Ohio home during a party with more than two dozen people present sent at least four people to the hospital and injured several others, authorities said. The Madison Township fire department in Butler …

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Louisiana Sets Up $30M Buyout Program for Flood-Prone Lake Charles Neighborhood

Louisiana is offering a $30 million voluntary buyout program to residents of a neighborhood that has flooded three times in recent years, Gov. John Bel Edwards said on May 21. Recent rains brought the latest floods to the Greinwich Terrace …

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Security Shutdown Stops Hack of Tulsa, Oklahoma’s Computer System

Most residents of Tulsa are being prevented from paying their water bills after the city shut down its computer network as a security measure following an attempted ransomware attack, a city official said. The attempted breach was stopped before any …

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Wisconsin Court Rejects Man’s Suit Against Insurer After Bull Attack

A man who fell into depression and attempted suicide after he was gored by a bull can’t sue an insurance company for deciding to stop covering his medication, the Wisconsin Supreme Court ruled. According to court documents, Francis Graef was …

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Tropical Storm Ana Begins Expected Above-Normal 2021 Atlantic Hurricane Season

Just days after weather forecasters predicted another above-normal Atlantic hurricane season in 2021, Ana launched the season by forming off of Bermuda. Ana reached Tropical Storm status early on Sunday northeast of Bermuda, but then weakened to a Tropical Depression. …

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People Moves: Virtus Adds Ferworn as VP; Williams now President at Combined Insurance; POWERS Insurance Hires Weiler

Virtus Insurance brokerage and consulting firm Virtus LLC has hired Andrew Ferworn as vice president and insurance consultant in Chicago. The 10-year Lincoln Financial group insurance sales leader will expand the firm’s private capital and commercial insurance practice. Ferworn’s experience …

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Florida Construction Co. Owner Arrested for Evading Payment of Workers’ Comp Premium

The owner of a Florida construction business has been arrested for allegedly concealing payroll information to avoid paying more than $718,000 in workers’ compensation premiums, according to a statement from the Florida Department of Financial Services (DFS). An investigation by …

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Tennessee Dept. of Insurance Enables Remote Testing for Insurance Producers

The Tennessee Department of Commerce & Insurance (TDCI) has announced that Tennesseans seeking certification as insurance producers can now take their insurance exams remotely. Starting May 21, 2021, exams for prospective insurance producers can be taken at home, at the …

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CNA Paid $40 Million in Ransom After March Cyber Attack

CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack, according to people with knowledge of the attack. The Chicago-based company paid the …

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Black Media Mogul Allen Alleges Advertising Bias in Suing McDonald’s for $10 Billion

McDonald’s Corp. was sued on Thursday for at least $10 billion by two companies owned by media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising enough with Black-owned media outlets. The complaint filed in …

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Hawaii Can Expect 2 to 5 Storms During Hurricane Season

The central Pacific basin including Hawaii can expect between two and five tropical depressions, tropical storms or hurricanes this year, federal forecasters said Wednesday. The annual National Weather Service prediction said there is about an 80% chance of a near …

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Alaska Health Website Targeted in Malware Attack

The Alaska health department website was the target of a malware attack, officials said. A similar attack previously targeted the state’s court system. The health department in a statement late Tuesday said its website was taken offline Monday while an …

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Washington Creates New Farmworker Safety Team

The Washington state Department of Labor and Industries is creating a new team aimed at improving farmworker safety. When fully staffed, the agriculture compliance unit will create 16 new positions, the Yakima Herald reported. Thirteen of those posts will focus …

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AM Best Revises Outlook to Stable for Topa in California

AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Topa Insurance Co. in Calabasas, Calif. and its subsidiary, Dorchester Insurance …

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People Moves: Lockton Transactional Team; Marsh Counsel; Kemper Chairman; BMS Re CFO; AgriSompo North America

Lockton is bolstering its transaction liability team with key hires across the three transaction liability insurance product lines: Representations and Warranties Insurance, Tax Liability Insurance and Contingent Liability and Litigation Insurance. These hires come on the heels of Lockton’s addition …

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Canada Faces Mega-Hurricanes if Climate Change Pushes Storms North: Swiss Re Warns

Climate change is making hurricanes bigger and stronger, and it may soon push them farther north. Yet Canada’s homeowners, businesses and insurers underestimate that escalating risk, according to one of the world’s leading reinsurance firms. Overall, the northern nation has …

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Hackers of Irish Health Service Offer Decryption Key – for Ransom of $20M

A day after threatening to publicly release patient data, the hackers who targeted Ireland’s health service offered a decryption key that they said could be used to unlock computers infected with ransomware. While seeming to offer an olive branch — …

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Biden Executive Order Initiates Broad Strategy to Assess, Mitigate Climate Change Risks

President Joe Biden on Thursday directed federal agencies to assess and mitigate the increasing and serious risks that climate change poses to individuals, businesses, the federal government and the U.S. financial system, the White House said. Biden issued an executive …

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Africa Specialty Risks Launches Mauritius Reinsurer, Backed by PE Firm Helios

Africa Specialty Risks (ASR), a reinsurance managing general agent focused on the African corporate and specialty market, announced it has launched a fully capitalized and licensed reinsurer based in Mauritius. Alongside the reinsurer license, ASR has also been granted a …

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Waffle Raises $5M for Its ‘All-in-One’ Virtual Insurance Agency

The insurtech Waffle has raised $5 million in seed funding, with plans to offer cyber, renters, pet, travel and life insurance in the initial launch of its new virtual agency platform. Auto and home insurance are to be added by …

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Louisiana, Texas Brace for More Heavy Rain and Flooding

Heavy rain across the eastern Texas and western Louisiana Gulf Coasts may bring more flooding on Friday, the National Weather Service said, with rainfall-related deaths rising to five in Louisiana. Of the five deaths, four involved people driving into high …

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Italy Probes Alleged Cartel Among Auto Insurers, Including Allianz Direct, Zurich

MILAN – Italy’s antitrust watchdog said on Friday it had opened an investigation into an alleged cartel among insurance companies and insurance price comparison companies to limit competition for automobile insurance. In a statement, the Italian Competition Authority said the …

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Student Blamed for Cyber Attack on Massachusetts School’s Network

A student was behind a cyber attack on a Massachusetts school system this week that temporarily shut down the district’s computer network, disrupted remote learning, and forced the postponement of exams, officials said. The attack on the Agawam school district …

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Staffers Allege that Employer Ignored COVID Precautions in Massachusetts

A Massachusetts man claims that a national addiction treatment program with offices in Pittsfield and Cummington failed to take precautions to protect him, fellow staff members, as well as residential clients from COVID-19 infection. Stephen Seward and four co-workers filed …

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As One New Jersey Forest Fire is Contained, a Second Starts

As New Jersey firefighters gained control of one forest fire in the heavily wooded Pinelands region, a second broke out, and was halfway contained as of Tuesday afternoon. The New Jersey Forest Fire Service said it had fully contained a …

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Australia Bushfire Funding ‘Welcome’ but Insurance Tax Rise ‘Unsustainable:’ ICA

The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects. However, the ICA emphasized that the projected growth in taxes …

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Europe’s Aviation Regulator Says Flying Taxis Could Be Airborne by 2024 or 2025

PARIS – Europe could see the first flying taxis enter service as early as 2024, the region’s top aviation regulator said on Wednesday. More than half a dozen European firms have announced developments of Urban Air Mobility vehicles for passenger …

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Lumen Risk Services, Transverse to Offer Commercial Property Coverage

Program administrator Lumen Risk Services, in partnership with Transverse Insurance Group, has launched a new commercial property insurance program. The non-admitted program will initially offer monoline property coverage for multi-family, hospitality, and light commercial property accounts with plans to expand …

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California Restaurants Expect Rebound That Will Take Years

Nearly a third of California’s restaurants permanently closed and two-thirds of workers at least temporarily lost their jobs as the pandemic set in more than a year ago and Gov. Gavin Newsom imposed the nation’s first statewide lockdown, a legislative …

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Insurance Development Forum Launches Project to Build Colombian Climate Resilience

The Insurance Development Forum (IDF), a public-private partnership led by the insurance industry and supported by international organizations, has launched a program to develop a parametric flood and earthquake product, as well as indemnity landslide protection in Colombia. The IDF, …

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Fed Warns Credit Scores ‘May Lose Some Power’ After Covid

The Federal Reserve Bank of New York warned that credit scores — the all-powerful number that can determine if a consumer is able to qualify for a loan, rent a home or even buy car insurance — might have gotten …

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Lawsuits Over University of Delaware COVID-19 Shutdown Can Proceed

A federal judge on Tuesday refused to dismiss two lawsuits filed against the University of Delaware by current and former students who argue that they are entitled to refunds for services they didn’t receive when officials shut down the campus …

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Ex-Gynecologist in Virginia Gets 59 Years on Fraud Conviction

A former gynecologist in Virginia who was convicted on fraud charges for performing unnecessary surgeries and procedures was sentenced Tuesday to 59 years in prison. Dr. Javaid Perwaiz also was ordered to pay $18.5 million to insurance companies that covered …

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Element Risk Management Acquires Pennsylvania’s Smith Insurance

Element Risk Management has acquired Smith Insurance with locations in Hershey and Williamstown, Pennsylvania. Smith Insurance was founded as a small insurance agency by James J. Smith in 1933. The agency was bought by Bruce Moore in 1983, and he …

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Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil

Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain’s economy. “During this period of economic uncertainty, it has become increasingly …

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‘Cat-Prone’ Startup Kin Insurance in Talks to Go Public With ‘Shark Tank’ Judge’s SPAC

Home-coverage startup Kin Insurance is in talks to go public via Omnichannel Acquisition Corp., a special purpose acquisition company led by recurring “Shark Tank” guest judge Matt Higgins, according to people with knowledge of the matter. The combined entity is …

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Square Pegs Becomes Castel Underwriting Cell, Offering Cover for Difficult SME Risks

Square Pegs, which offers specialist insurance coverage for complex and unusual risks via a dedicated e-trading platform, has become a standalone underwriting cell within Castel Underwriting Agencies Ltd. Focused on small and medium sized enterprises in theUK, Square Pegs enables …

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UK Pushes G-7 Countries to Adopt Mandatory Climate Reporting for Big Companies

UK Chancellor of the Exchequer Rishi Sunak is pushing the Group of Seven (G-7) economies to impose mandatory reporting of environmental risks on their big companies, people familiar with the matter said. Under the proposals, the biggest companies would report …

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Trial Operations of Flying Taxis, Cargo Drones Will Begin in England This Year

Trial operations of flying taxis and cargo drones will begin in Coventry, England, before the end of the year as part of a plan to develop “aerial roads” for unmanned flights in urban areas. The project, backed by 1.2 million …

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London’s ‘Golden Age’ as Europe’s Financial Center Has Ended: NatWest Chair

The City of London’s ‘Golden Age’ as Europe’s financial capital is over following Brexit, but it will remain a major and profitable center, NatWest bank chairman Howard Davies said on Tuesday. The City has been largely cut off from the …

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Irish Patient Data May Have Been Posted on Dark Web After Cyber Attack: Minister Says

Reports of Irish patient data posted online after a cyber attack on Ireland’s health service appear to be accurate, a government minister said, as the fallout from the hack continues. A Financial Times report that some patient data has appeared …

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Arrowhead Launches E&S Program, Names Murray as President

Arrowhead General Insurance Agency Inc. has launched a new excess & surplus lines program and named Bill Murray as its president. The new E&S program operates as part of the National Programs division of Brown & Brown Inc., and initially …

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Louisiana Private Flood Insurance Bill Returned to House from Senate

A Louisiana bill that would make it easier for private flood insurance carriers to offer flood insurance in the state has been sent back to the House to contemplate amendments added by the Senate. House Bill 577, by Rep. Scott …

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Environmental Groups Sue Feds Over W. Virginia Mine Reclamation Program

Environmental groups are seeking to force the federal government to address an underfunded program in West Virginia whose purpose is to help cover the costs of coal mine reclamation. The lawsuit said the U.S. Office of Surface Mining Reclamation and …

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People Moves: CAC Specialty in Colorado Adds Lynch, Lockton Pacific Adds Lupe in California

CAC Specialty in Colorado has named Erin Lynch president of its natural resources division and co-leader of its power, utility and renewables vertical. Lynch most recently led the global energy practice at Beecher Carlson during her 14-year tenure. CAC Specialty …

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Climate Change Caused $8 Billion of Hurricane Sandy’s Economic Losses: Study

When Hurricane Sandy barreled over New York City and the East Coast in 2012, it caused $63 billion in damage, making it one of the costliest storms in U.S. history. Now, scientists have estimated that climate change pushed that price …

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Suit Claims Owners Drove Brooks Brothers to Bankruptcy to Avoid Paying Investor

The billionaire Italian family that until recently owned Brooks Brothers has been accused in a lawsuit of driving the iconic apparel retailer into bankruptcy instead of selling it, to avoid paying millions of dollars to an investor. In a complaint …

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Insurance Comparison Site Jerry Raises $28 Million

Auto insurance comparison site Jerry has raised $28 million in new financing. The startup, which operates as a licensed insurance broker, plans to use the money to scale its signature product and pursue hiring, so it can expand into additional …

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Medical Marijuana Now Legal in Alabama After Decades of Debate

Alabama Gov. Kay Ivey signed medical marijuana legislation Monday as Republican opposition to the issue faded after decades of debate. The program will allow people with a qualifying medical condition to purchase medical marijuana with the recommendation of a doctor. …

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Nebraska Lawmakers Say ‘No’ to Mandated Virus Protections for Meat Workers

Nebraska lawmakers have rejected state-mandated coronavirus protections for meatpacking workers, with opponents arguing that slaughterhouses have already taken precautions and that the pandemic is nearly over. Lawmakers voted, 25-18, to sideline the measure for the rest of the year, even …

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NTSB: Louisiana Offshore Lift Boat Flipped While Lowering Legs, Turning

An offshore oil industry boat had begun to lower its legs and was trying to turn to face heavy winds when it flipped in the Gulf of Mexico off Louisiana last month, according to a preliminary federal report released on …

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Severe Water Crisis on Oregon-California Border to Impact Agriculture

The water crisis along the California-Oregon border went from dire to catastrophic this week as federal regulators shut off irrigation water to farmers from a critical reservoir and said they would not send extra water to dying salmon downstream or …

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Crews Make Progress Against Los Angeles Wildfire

Firefighters increased containment of a Los Angeles wildfire and officials identified the man suspected of starting the blaze that prompted evacuations in canyon neighborhoods. Ramon Rodriguez Flores was detained Sunday when he emerged from heavy brush near the fire zone …

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Newfront Acquires Aviation Marine Insurance in California

Newfront Insurance has acquired Aviation Marine Insurance Services in Sausalito, Calif. Terms of the deal were not disclosed. AMIS is led by Scott Gault, who joins Newfront along with his team of aviation insurance experts. AMIS is a specialist brokerage …

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Organizations Miss Competitive Advantage by Underemphasizing Emerging Risks: Marsh

Cyber attacks, climate change, geopolitical unrest — organizations agree on what some of the emerging risks that pose threats are. But they lag in understanding just how much of a threat they can be. Despite a broad consensus across large …

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USAA Expands Telematics Auto Insurance App SafePilot to 7 More States

Military family-focused insurer USAA is expanding its SafePilot program to seven additional states, bringing the total where the telematics program is available to 23. The new states are Alabama, Colorado, Minnesota, Nebraska, Nevada, Oklahoma and Utah. The USAA SafePilot app …

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Brooklyn Landlord Charged in Deadly Fire Started by Space Heater

A Brooklyn landlord has been charged with manslaughter for the death of a tenant who jumped out of a window to escape a fire prosecutors said was caused by a space heater in a building that did not have heat. …

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Explosion Damages New Hampshire House Under Construction, Worker Burned

An explosion happened at an Amherst house that was under construction, causing a contractor to suffer burn injuries to his arms, New Hampshire fire investigators said Friday. Firefighters responded to the house near Baboosic Lake shortly before 9:30 a.m. and …

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Several Injured in Gas Explosion in Baltimore County

Several people were injured Friday, including one critically, after a gas explosion in a Baltimore County neighborhood, officials said. Elise Armacost, a Baltimore County Fire Department spokeswoman, said authorities at the scene are assessing the number injured and the extent …

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Howden Acquires UK Specialist Broker Medical Professional Risk Solutions (MPRS)

Howden Broking announced it has acquired Medical Professional Risk Solutions (MPRS), a specialist insurance broker for the primary care sector, for an undisclosed sum. Howden said the acquisition adds further expertise to its Health & Care division. Founded in 2014 …

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Metromile, Hippo Begin Offering Bundled Auto, Home Coverages in 8 States

Metromile and Hippo Insurance are partnering to offer home and auto insurance in a discounted bundled product. Drivers and homeowners will be able to purchase pay-per-mile auto insurance from Metromile and homeowners insurance from Hippo and save up to 15 …

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Indian Rescuers Continue Search and Rescue After Cyclone Tauktae; 51 Still Missing

AHMEDABAD/MUMBAI – Naval vessels and aircraft scoured the waters off India’s west coast on Wednesday after the most powerful cyclone in more than two decades battered the region, sinking a barge and killing 22 aboard, authorities said. Cyclone Tauktae unleashed …

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Ransomware Attacks Hit AXA’s Asia Units, New Zealand Health Provider

BANGKOK (AP) – The Thai affiliate of Paris-based insurance company AXA said Tuesday it is investigating a ransomware attack by Russian-speaking cybercriminals that has affected operations in Thailand, Malaysia, Hong Kong and the Philippines. Meanwhile, a cyber attack on a …

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Construction Firm Grupo Carso Faces Probe After Collapse of Mexico City Railway Line

MEXICO CITY – Mexican billionaire Carlos Slim’s construction arm Grupo Carso faces scrutiny from accident investigators for the possible role it played in the building of a metro railway line that collapsed this month, killing 26 people. While no officials …

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March Storm in Eastern Canada Cost Insurers C$50 Million

A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Damage reports spanned the region …

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Alera Group Acquires Direct Benefits in Minnesota

Alera Group, an independent, national insurance and wealth management firm based in Deerfield, Illinois, has acquired Direct Benefits Inc., located in Saint Paul, Minnesota. Direct Benefits specializes in insuring individuals, families, retirees and small businesses with dental, vision, pet, travel, …

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Hasner, Knight, Telemaco Join Board of Citizens Property Insurance

Governor Ron DeSantis has appointed three new members to the board of governors of Citizens Property Insurance Corp., his office said in a statement. Jillian Hasner of Boca Raton currently serves as president and chief executive officer of Take Stock …

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ISC Launches General Liability Program for Gig Economy Contractors

Integrated Specialty Coverages (ISC), a multi-line program administrator that builds end-to-end insurance products with artificial intelligence (AI) engineering and data analytics, has launched a new general liability policy program for gig economy contractors. The program provides contractors “by the job” …

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Dozens More Sue Ohio State over Doc’s Alleged Sex Abuse, Misconduct

Dozens more men are suing Ohio State over the university’s failure to stop sexual abuse and misconduct decades ago by team doctor Richard Strauss. They echo claims filed previously by over 400 men, many of whom allege they were groped …

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Conduent to Pay $395K in Back Wages to Settle Oklahoma Discrimination Case

A company with a Yukon, Oklahoma, facility has agreed to pay $395,000 in back wages under a settlement of allegations that it discriminated against Black, Asian, Native Hawaiian and Pacific Islander job applicants, the U.S. Labor Department reported. Under the …

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Attorney: Michigan Flood Victims May Have to Wait for Accountability

A lawsuit that accuses the state of Michigan of failing to regulate and enforce safety regulations on a dam that failed, causing an estimated $200 million in damages and destroying 2,500 structures, may not be resolved soon, an attorney representing …

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Amazon Continues Moratorium on Police Use of Its Facial Recognition Software

Amazon.com Inc. said on Tuesday it is extending until further notice a moratorium it imposed last year on police use of its facial recognition software. The company had halted the practice for one year starting in June 2020. Its announcement …

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5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS

While a typical business interruption can often be a confusing insurance situation, the picture gets even muddier when it involves cyber coverage. Chris Mortifoglio, a forensic accountant, knows all too well how muddy it can become. “I will tell you …

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Judge Has Questions About Bayer’s $2 Billion Roundup Settlement

A federal judge on Tuesday questioned a $2 billion proposal by Bayer AG that would create a framework for resolving future claims that its Roundup weedkiller causes cancer, casting doubt on the plan a day before a key hearing. Bayer …

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Southern California City Agrees to Settle Suit Against Bloggers for $350K

The Southern California city of Fullerton has agreed to pay $350,000 and take back its accusations of criminal computer hacking to settle a lawsuit against two local bloggers, a newspaper reported. The agreement was approved by the City Council last …

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California Regulator Reviewing Tesla’s Self-Driving Claims

A California regulator said on Monday it is reviewing whether Tesla Inc. violated regulations by falsely promoting its advanced driver-assistance systems as being “full self-driving.” Tesla’s driver assistant features, which it describes as “Autopilot” or “full self-driving” are under growing …

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People Moves: Lockton Hires Haraden, MLMIC Names Schoppmann CEO

Lockton Hires Haraden as President of Boston Operations Lockton has hired Patrick J. Haraden as president of its Boston, Massachusetts, operations. In his new role, Haraden will lead a team of property/casualty insurance and employee benefits experts who serve commercial …

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Forest Fire Consumes Hundreds of Acres in Southern New Jersey

A forest fire that has consumed roughly 900 acres in southern New Jersey continued to burn Monday, though no injuries have been reported. The fire was spotted around 4 p.m. Sunday in the Bass River State Forest in Little Egg …

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Labor Leader Urges U.S. to Require Human Drivers in Automated Vehicles

A senior American labor union leader will tell U.S. lawmakers on Tuesday that the government should require human operators in all self-driving passenger services to take over in the event of an emergency. Greg Regan, president of the Transportation Trades …

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Parties in Connecticut Class-Action Lead Suit to Give Settlement Details

Information on an impending settlement in a class-action lawsuit over lead poisoning in New Haven, Connecticut, children is expected to be released Monday. The New Haven Register reports the parties are scheduled to give details on a settlement in the …

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People Moves: Metromile Adds Capital One Exec; Spinnaker Names CEO From USAA; Carpenter’s Snyder Joins TigerRisk

Digital pay-per-mile auto insurer Metromile has hired a Capital One marketing veteran to help shepherd national growth. Troy Dye, who was with the credit card giant for 20 years, will have the title of senior vice president, Growth, once he …

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Cyclone Sinks Barge Operated by India’s Oil & Natural Gas Corp., Hundreds Rescued

A cyclone barreling through India’s west coast sank a barge hired by state-run explorer Oil & Natural Gas Corp. prompting a massive operation to rescue 96 people missing from the vessel. “Long-range maritime surveillance aircraft were assisting the rescue effort …

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Warming Arctic Permafrost Will Make It Harder to Curb Climate Change: Study

The warming Arctic tundra will make it harder for the world to curb climate change, as thawing permafrost and wildfires release greenhouse gases that are not fully accounted for in global emissions agreements, a study said on Monday. As temperatures …

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Medical Protection Society Receives Approval to Form Full Lloyd’s Syndicate

Asta, the third-party managing agent at Lloyd’s, announced it has received “in principle” approval from the Lloyd’s Council for the transition of the Medical Protection Society’s (MPS) Special Purpose Arrangement (SPA) 1892 to a full syndicate, effective Jan. 1, 2022. …

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Howden’s Data, Digital and Analytics’ Division, HX, Launches in Asia

HX, the data, digital and analytics division of Howden Group Holdings, announced it has established HX Asia, which enables it to deploy its data, analytics and technology capabilities directly to clients and carriers in the Asian market. HX Asia will …

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Lawsuit Filed by Business Over Mississippi City’s COVID Restrictions Dismissed

A federal judge has dismissed a civil lawsuit a fitness gym filed against a Mississippi city claiming the city violated business owners’ rights when it forced non-essential businesses to close to help mitigate the spread of COVID-19. Republican Gov. Tate …

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New CFC Reps & Warranty Product Supports Transatlantic Mergers, Acquisitions

CFC has enhanced its transaction liability services with the launch of a new product designed to support North American buyers purchasing a UK or European target business. CFC’s transatlantic suite of transaction liability insurance products can bridge the gap between …

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Rousseau to Replace Kessler as CEO of SCOR, in Change to Succession Plan

Denis Kessler, SCOR’s chairman and chief executive officer, has decided to step down, for personal reasons, from his role as CEO at the end of his current term of office, which will expire at the reinsurer’s general meeting on June …

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Nearly 800 Residents to Sue Wisconsin City Over PFAS Contamination

Nearly 800 residents of French Island plan to sue the city of La Crosse, Wisconsin, stemming from contamination of private drinking water wells from chemicals known as PFAS, a move that could expose the city to up to more than …

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New Civil Trial Ordered in 2015 N.D. Crash that Brought $1B Jury Award

The North Dakota Supreme Court has ordered a new civil trial for a driver who caused a Bismarck expressway crash that killed two women, injured a third and produced a jury award of more than $1 billion in damages. The …

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Uber Can’t Avoid Driver Classification Lawsuit, Says Supreme Court

The U.S. Supreme Court on Monday turned away Uber’s bid to avoid a lawsuit over whether drivers for the ride-hailing company’s limousine platform UberBLACK are employees and not independent contractors as the company claims. The justices left in place a …

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Retired Black Players Fight NFL Brain Injury Payout Algorithm Based on Race

Thousands of retired Black professional football players, their families and supporters are demanding an end to the controversial use of “race-norming” to determine which players are eligible for payouts in the NFL’s $1 billion settlement of brain injury claims, a …

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People Moves: Midwestern Insurance Alliance Adds Young in California, Crest Adds Holt in Colorado

Midwestern Insurance Alliance has named Robert Young to its wholesale division as vice president of business development. Young will be based out of San Diego, Calif. Young’s focus will be to help the team grow revenue by enhancing retail agent …

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Supreme Court Backs Energy Firms Against Baltimore on Legal Issue in Climate Case

The U.S. Supreme Court on Monday ruled in favor of BP PLC, Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and other energy companies contesting a lawsuit filed by the city of Baltimore seeking monetary damages from them due …

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The Potential Liabilities for Cities, Insurers from Florida’s New ‘Anti-Riot’ Law

The right to protest in America is a fundamental right guaranteed by the First Amendment to the United States Constitution, which protects both the “freedom of speech” and the “right of the people peaceably to assemble, and to petition the …

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People Moves: Security First Names Lockhart CFO; Freeland Joins Alliant in Tenn.; SIU Adds Hayes Everett in Georgia

Lockhart Named CFO of Florida-Based Security First Insurance Security First Insurance, a private homeowners insurer in Florida, has promoted David Lockhart to chief financial officer, effective June 1. Lockhart will report to the company’s President Melissa Burt DeVriese and succeeds …

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Iowa Town Evacuated After Fiery Train Derailment

Thick black smoke billowed into the air on May 16 after a train derailed in northwest Iowa, prompting authorities to evacuate part of a small, nearby town. The fiery derailment happened early in the afternoon on the southwest edge of …

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1K Los Angeles Residents Ordered to Evacuate in Wildfire

About 1,000 Los Angeles residents were evacuation orders on Monday as firefighters protected canyon homes from a smoky wildfire that churned through vegetation that hasn’t burned in half a century. The cause of the fire in steep, inaccessible terrain near …

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California Crash Victim Posted Videos Riding in Tesla on Autopilot

The driver of a Tesla involved in a fatal crash that California highway authorities said may have been operating on Autopilot posted social media videos of himself riding in the vehicle without his hands on the wheel or foot on …

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Oregon Landowner Suit Seeks $103M from Public Utilities for Wildfire

A lawsuit filed on behalf of 70 landowners in Oregon’s McKenzie River Valley seeks $103 million from Lane Electric Cooperative and Eugene Water and Electric Board for damages linked to one of the Labor Day fires that ravaged communities around …

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Ex-Bank Official in Massachusetts Gets Year in Prison for $1.5M Embezzlement

A former Bank of America manager who pleaded guilty to embezzling $1.5 million from a company that did business with the bank and using some of the money to buy a luxury Porsche SUV has been sentenced to a year …

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Meetings to Be Held on Status of PFAS Chemicals in New Hampshire Communities

Meetings will be held online for three southern New Hampshire communities to give the public updates on the status of chemicals found in the water, the Department of Environmental Services said. The meetings are scheduled for Litchfield on May 17, …

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Severe Cyclone Tauktae Slams India’s West Coast

A severe cyclonic storm is set to slam India’s west coast, home to major refineries and ports, prompting authorities already grappling with a savage second virus wave to evacuate people and patients to safer areas. Cyclone Tauktae, equivalent of a …

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New Vermont Law Waives Time Limit for Physical Abuse Suits

Vermont Governor Phil Scott has signed into law a measure that lifts the statute of limitations in civil cases of childhood physical abuse. Scott signed the bill on Wednesday. The new law builds on legislation passed two years ago that …

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Digital Transformation Vital to Keeping London Market Competitive: Survey

Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying processes to enable processing without manual intervention as their highest strategic …

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Climate Litigation Cases Booming After Paris Agreement – Often Led by Young Activists

Whatsapp chat rooms and Telegram channels across Germany lit up in the early hours of April 29. Young people frantically exchanged messages in a tone that went from disbelief to surprise to euphoria. The country’s highest court had just ruled …

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Setting the Stage for Thousands of Opioid Lawuits, Potentially Years of Litigation

A corner of West Virginia wrenched by opioid addiction is getting the chance to argue in a courtroom that some of the corporate giants it blames for a public health crisis that left hundreds of people dead deserve to be …

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Aon to Sell Pensions Business in Germany, in Another Step to Get EU Nod for WTW Deal

Aon plc announced it has signed a definitive agreement to sell its pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany to Lane Clark & Peacock LLP (LCP). The agreement is another step Aon and Willis …

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New Post-COVID Hybrid Work Arrangements May Not Be as Flexible as Desired

Fourteen months after coronavirus confined the world’s office-workers to their homes, companies are embarking on another great experiment — how to get their teams back together, in-person, at least some of the time. It’s a task that is briefly uniting …

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Mississippi Supreme Court Kills Voter-Backed Medical Marijuana Initiative

Mississippi will remain in the minority of states without a medical marijuana program after the state Supreme Court on Friday overturned an initiative that voters approved last fall – a decision that also limits other citizen-led efforts to put issues …

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Teams Assess Damage After Fire on Overturned Cargo Ship in Georgia Port

A salvage team assessed damage Saturday after a fire was ignited inside the remains of an overturned cargo ship that is being dismantled along the Georgia coast. “The assessment is likely to take several days,” the multiagency command overseeing the …

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People Moves: Texas Mutual Promotes Potter to CFO, Martin to Sr. VP-HR

Texas Mutual Workers’ compensation insurer, Texas Mutual Insurance Co., has promoted Bill Potter to chief financial officer (CFO). Potter, a certified public accountant, succeeds Mike Barron, who served as Texas Mutual’s CFO for over 17 years and has retired. Potter …

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People Moves: National Interstate Promotes Mikolay, Keenan; Old Republic Surety Names Littlefield VP

National Interstate National Interstate Insurance Co. has promoted Christopher (Chris) E. Mikolay to senior vice president, Specialty Division and Daniel (Dan) M. Keenan to vice president, National Accounts. Mikolay will assume leadership responsibility for National Interstate’s Specialty Division and Hawaii …

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Appeals Court Rejects Bayer Appeal of $25M Roundup Cancer Verdict

A federal appeals court on Friday upheld a $25 million judgment and trial verdict finding Bayer’s Roundup caused a California resident’s non-Hodgkin lymphoma, dealing a blow to the chemical company’s hopes of limiting its legal risk over the weed-killer. The …

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Pipeline Ransomware Attack Stirs Debate on Whether Insurance Attracts Hackers

The ransomware attack on Colonial Pipeline Co. that caused gasoline shortages along the U.S. East Coast also sparked a debate about whether cyber insurance helps protect against marauders — or attracts them. Some cyber-security experts say hackers target companies that …

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Under Pressure, Ransomware Gangs Claim They’re Shutting Dow

Multiple ransomware groups claimed they were shutting down or scaling back operations on Friday as the U.S. government ramped up pressure while tech companies, cryptocurrency exchanges and others worried about getting caught in the crossfire. DarkSide, the Russian-speaking gang blamed …

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Private Firefighting Firms Add to Tension While Saving Vineyards, Mansions From Wildfires

Last October, firefighter Ryan Bellanca and his crew battled to keep the raging Glass Fire in California from devastating an upmarket Napa Valley vineyard. But Bellanca wasn’t working for any fire department. He owns a private company that had been …

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BriteCo Launches Online Jewelry Insurance Program

BriteCo jewelry insurance has launched a program to insure fine jewelry and watches that can be quoted and bound online offering enhanced coverage and a monthly pay option. The new insurance offering is backed by Glencar Insurance Co. Consumers can …

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Judge Rules Florida Deputies Fired Over Parkland Massacre Should Get Jobs Back

A Florida judge ruled Thursday that two deputies who were fired for inaction during a high school mass shooting in 2018 should be reinstated with back pay. Broward Circuit Judge Keathan Frink concluded that arbitrators last year were correct in …

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AM Best Says Pipeline Attack Shines Spotlight on Cyber Insurance

The ransomware attack on one of the largest pipelines in the United States highlights the interconnectedness of cyber risk and the importance of cyber security to all business operations, according to a new AM Best commentary. In its Best’s Commentary, …

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EPA Says Water OK to Drink in Miss. Capitol City as Treatment System Struggles

Environmental Protection Agency officials met with Jackson leaders Tuesday to discuss severe issues with the water system in Mississippi’s capital city. They said fixing the system will take years and cost millions of dollars, but for now, it’s OK for …

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New Florida Law Seeks to Protect State from Sea Level Rise

Florida – one of the most vulnerable places in the world to sea level rise – will spend hundreds of millions of dollars over the next few years to protect against coastal flooding under a bill Republican Gov. Ron DeSantis …

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Nebraska Medical Marijuana Legalization Bill Meets Resistance

A bill to legalize and tightly regulate medical marijuana hit a wall of resistance in the Nebraska Legislature on May 12, even though some opponents acknowledged that rejecting it will pave the way for a much less restrictive ballot measure …

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Oklahoma Workers’ Comp Fraud Law Signed by Governor

Oklahoma Gov. Kevin Stitt on May 7 signed into law legislation creating new penalties for workers’ compensation fraud. The legislative summary for House Bill 2236 states that anyone “failing to report to an employer, insurance carrier, or third-party administrator any …

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People Moves: Marsh’s Daudt to Oneglobal; MS Amlin’s Boreham to Africa Specialty Risks; Zurich’s Jadav to AXA XL; RFIB’s Hallett to SiriusPoint

This wrap-up of international People Moves details recent appointments at Oneglobal Broking, Africa Specialty Risks, AXA XL and SiriusPoint. A summary of these new hires follows here. Oneglobal Broking, the London based broker, announced the appointment of Nicolau Daudt as …

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People Moves: Lockton Pacific Adds Burbach and Szot in San Francisco, Denham in L.A.

Lockton’s Pacific region has added Jordan Burbach, Daniel Denham and Andrew Szot. They will help private equity firms looking for strategic guidance and insurance solutions to manage risks. Burbach and Szot are based in Lockton’s San Francisco office. Denham is …

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California Crash, Arrest Draw More Scrutiny of Tesla Autopilot

Safety regulators are sending a team to California to investigate a fatal freeway crash involving a Tesla, just after authorities near Oakland arrested a man in another Tesla rolling down a freeway with no one behind the steering wheel. Experts …

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High Street Insurance Partners Acquires Paladin, Richardi-Demola Insurance Agencies

High Street Insurance Partners (HSIP), a full-service insurance brokerage platform, has acquired New Jersey-based Paladin Insurance Agency and Richardi-Demola Insurance Agency (RD). Terms of the transaction were not disclosed. Both firms specialize in business and personal Insurance solutions. President Tom …

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Massachusetts Health Boards Overwhelmed, Unready to Protect Workers

With federal regulators missing from the field and state leaders scrambling to manage the COVID-19 crisis, Massachusetts’ 351 overtaxed local boards of health were unwittingly thrust into a new role last year – overseers of workplace safety. The challenge created …

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People Moves: National Flood Names Erickson CEO; Aon Adds 3 in Healthcare; State Auto CFO to Retire; Barg Joins Ascot Claims

National Flood Services announced the appointment of Lindsey Erickson as its chief executive officer. Erickson replaces interim CEO George Ruhana, who will continue in his role as operating partner. Erickson has been with National Flood Services for more than 20 …

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Danish Lawmakers Eye New Probe of 1990 Ferry Disaster, with Insurance Focus

COPENHAGEN, Denmark – Danish lawmakers agreed Wednesday to set up a task force to look into a 1990 ferry fire that killed 159 people, which could lead to a new police investigation into one of Scandinavia’s worst peacetime maritime disasters. …

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New York to Set Workplace Safety Standards for Airborne Diseases

State regulators in New York will soon draft rules that will require employers to protect workers from airborne infectious disease. A new state law tasks state labor and health officials with coming up with minimum workplace standards around things like …

from News – Insurance Journal https://ift.tt/2QiyLVz
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