New entity a ‘significant milestone’ in carrier’s strategic plan to strengthen presence in the excess and surplus lines market Source link
Connecticut’s insurance regulator is weighing whether to approve a workers’ compensation industry proposal for an overall average decrease of 4.9% to the current voluntary loss costs and an average decrease of 5.8% to the current assigned risk rate level. If approved by the Connecticut Insurance Department, the new loss costs and assigned risk rates would …
Cyber market risks repeating the confusion generated by war wordings without a uniform approach, senior WTW broker warns Source link
A Barnhart, Missouri man pleaded guilty to destroying property at a Telsa dealership in Kansas City, Missouri and to unlawfully possessing an unregistered destructive device. Kevin Harkins, 28, entered a guilty plea today in federal court to one count of malicious destruction of property related to arson and one count of unlawful possession of an …
Marine mutual books tiny underwriting deficit as investment returns drive first-half profit Source link
A $357 million hack of crypto exchange Bitget on Thursday was likely carried out by North Korea-linked hackers, pushing the nation-state’s haul from digital-asset thefts above $1 billion this year, according to analytics firm Elliptic Enterprises Ltd. The Bitget exploit showed similarities to previous attacks attributed to the Democratic People’s Republic of Korea, including how …
Davis Cartage Co., a transportation, warehousing and logistics company headquartered in Corunna, Michigan, violated federal law by allowing its president of logistics to sexually harass two female employees at its Owosso, Michigan location, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit announced. According to the EEOC’s lawsuit, in 2023, the president of …
Another financial crisis may land on the doorstep of insurers who have covered many financial risks Source link
A judge on Wednesday dismissed Donald Trump’s lawsuit accusing The Des Moines Register and its former pollster of misrepresenting the state of the 2024 presidential race, rejecting the president’s claim that the newspaper’s poll coverage violated Iowa’s consumer fraud law. Calling the case extraordinary, Iowa District Judge Scott J. Beattie said that allowing the lawsuit …
Liberty Specialty Markets’ Ross Drabble describes how market changes, geopolitics and climate change are affecting high-value goods Source link
The Texas Department of Insurance this week launched a tool that allows residents to see reasons for why insurance companies decline, non-renew or cancel home and auto insurance policies. The webpage lets users review declination, non-renew and cancellations notices by choosing from a reporting period, ZIP code and policy type. The page also includes the …
London market trade body calls for more work on product governance regulations Source link