Aggregator

Earlier this month, Standard & Poor’s Global Ratings announced another downgrade for State Farm General Insurance Co., lowering the California company’s financial strength rating to A- in spite of a show of financial support from its parent. In May, S&P …

Russian hackers briefly took control of a dam in Norway earlier this year, the head of the Nordic country’s counter-intelligence agency said on Wednesday, the first time Oslo has officially attributed the cyberattack to its neighbor. While in command of …

Australia’s financial regulator is suing A$70 billion ($46 billion) pension fund Mercer Super, accusing it of failing to report multiple investigations into serious member services issues. In a Federal Court filing, the Australian Securities and Investments Commission alleged between October …

Swiss Re AG has set up a task force to see how the tariffs installed by the United States against Switzerland and other countries is impacting the Zurich-based reinsurer. Chief Executive Officer Andreas Berger said he doesn’t see the tariffs …

Hong Kong’s central business district and outer airport were hit by violent gusts and a deluge of heavy rain on Thursday, with the city again issuing its highest rain warning as Tropical Storm Podul passed the region. Parts of Hong …

Nigeria increased capital requirements for insurance businesses fivefold and gave operators a year to comply or risk losing their licenses. The capital threshold for non-life insurers was raised to 15 billion naira ($9.8 million) from 3 billion naira that of …

A poll of workers recently hired into the property/casualty insurance industry conducted during a Travelers Institute webinar last month produced some unusual results, surprising one webinar panelist who leads a key business segment at Travelers. Only 20 percent of responding …

Sen. Adam Schiff recently reintroduced his Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to create a federal catastrophic reinsurance program. The insurance industry promptly reintroduced their opposition. “The INSURE Act may sound helpful on paper but would …

Former University of Georgia and NFL quarterback Jake Fromm has been hired as client advisor for Georgia-based insurance broker Sterling Seacrest Pritchard. “I’m excited to start this new chapter of my life, building new and long-lasting relationships, and helping people …

It was supposed to simplify and speed the process for insurance agents trying to find private coverage for Citizens policyholders, a vital link in depopulating Florida’s oversized insurer of last resort. But a year after the $36 million Citizens clearinghouse …

The Hanover Appoints Mitchell President of Technology and Life Sciences Business The Hanover Insurance Group, Inc., headquartered in Worcester, Massachusetts, appointed Toni E. Mitchell as president of its technology and life sciences business. Mitchell previously served as the regional executive …

Brown & Brown Dealer Services has acquired the assets of Tire Shield. The Tire Shield team will join Brown & Brown Dealer Services and continue to operate from their offices in Las Vegas, Nevada. The team will report to William …

Zelle was sued on Wednesday by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. The lawsuit in a New York …

A large-scale workers’ compensation fraud and tax evasion scheme that came to light when an employee was killed while removing a sign from a brewery has resulted in the sentencing of a construction firm owner. According to New York State …

An employer has pleaded guilty to criminal charges after investigation into deadly nitrogen leak held the company responsible. California Ranch Foods, a subsidiary of Golden West Food Group, pleaded guilty to two misdemeanor counts after being criminally charged in connection …

A Michigan financial advisor will stand trial for insurance fraud after waiving preliminary examination, Attorney General Dana Nessel announced this week. Todd Bernstein, 67, of Birmingham, is alleged to have submitted misleading information on annuity suitability applications on behalf of …

Water levels in this major source of drinking water for Rapid City were so low this spring that city leaders implemented water-use restrictions weeks earlier than normal and the state delayed installation of public boat docks. Lingering drought conditions and …

The all-girls Christian summer camp where 27 people, most of them children, were swept away and killed by the July 4 flooding in Kerr County was just one of 13 summer camps along the Guadalupe River built on land prone …

Cyber insurance remains an area of growth opportunity for property and casualty insurers, particularly in the face of large-scale risk factors. According to a new report, “CYBER: Insights on the current and future state of the US cyber insurance market” …

Dozens of tankers have joined the shadow fleet this year compared with hundreds in previous years as the harshest Western sanctions yet target Russia’s oil exports and add to the difficulty of finding suitable vessels, shipping sources said. The European …