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Archive: November 2022

Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System
Insurance Journal | November 10, 2022
Insurers Say ‘Bazooka’ of Bogus Boys Scouts Claims is Abuse of Bankruptcy System
A group of insurers – including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers – are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of …
Chubb Agrees to Defend Basketball Hall of Fame Against Unlawful Funding Claims
Insurance Journal | November 10, 2022
Chubb Agrees to Defend Basketball Hall of Fame Against Unlawful Funding Claims
The Basketball Hall of Fame has succeeded in getting Chubb subsidiary Federal Insurance Co. to defend it in a case accusing the museum of unlawfully securing funds for renovations to its facility. Documents filed in the U.S. District Court for …
Prosecutors Oppose Release of Alleged Restoration Extortion Gang Leader
Insurance Journal | November 10, 2022
Prosecutors Oppose Release of Alleged Restoration Extortion Gang Leader
The alleged leader of a gangland extortion ring that took control of the New York City fire restoration industry can be heard on recordings threatening to kill competitors and ordering an attack on a rival firm’s employee, federal prosecutors say …
Suspect Arrested in Connection With 7 Fires Across Mississippi’s Capital
Insurance Journal | November 10, 2022
Suspect Arrested in Connection With 7 Fires Across Mississippi’s Capital
JACKSON, Miss. (AP) — Authorities have arrested a suspect in connection with seven fires set across Mississippi’s capital city early Tuesday. At least two of the buildings set ablaze in Jackson were churches; one was burned to the ground. Another …
Tech Update: Risk Solved, expert.ai Partner to Offer Language-to-Data Solution for Insurers; Zurich Insurance Launches Global API Marketplace
Insurance Journal | November 10, 2022
Tech Update: Risk Solved, expert.ai Partner to Offer Language-to-Data Solution for Insurers; Zurich Insurance Launches Global API Marketplace
Risk Solved, expert.ai Partner to Offer for Language-to-Data Solution for Insurers Risk Solved Ltd, a global risk management platform provider, and expert.ai, an artificial intelligence (AI) specialist in natural language understanding, have announced a partnership to deliver a language-to-data solution …
FTC Aims to Clamp Down on Companies Engaged in Unfair Competition
Insurance Journal | November 10, 2022
FTC Aims to Clamp Down on Companies Engaged in Unfair Competition
The US Federal Trade Commission plans to make wider use of its 1914 founding statute to police anticompetitive behavior by companies in the internet age. The Democratic-led commission on Thursday issued a new policy statement that empowers the agency to …
Tropical Storm Nicole Expected to Continue Weakening Over Florida, Head to Georgia
Insurance Journal | November 10, 2022
Tropical Storm Nicole Expected to Continue Weakening Over Florida, Head to Georgia
Tropical Storm Nicole was centered over central Florida at 7 a.m., having weakened from being a Category 1 hurricane when it made landfall earlier in the morning on the coast. Nicole’s maximum sustained winds have decreased to near 60 mph …
People Moves: Everest Re Taps AXA XL’s Mann to Lead Casualty, UK; RenRe Promotes Marra to CUO; Lockton Re Names Aon’s Ryan for Retrocession & Property Specialty
Insurance Journal | November 10, 2022
People Moves: Everest Re Taps AXA XL’s Mann to Lead Casualty, UK; RenRe Promotes Marra to CUO; Lockton Re Names Aon’s Ryan for Retrocession & Property Specialty
This edition of International People Moves details appointments at Everest Re, RenRe and Lockton Re. A summary of these new hires follows here. Everest Re Names AXA XL’s Mann Head of Casualty, UK Branch Everest Reinsurance, the reinsurance division of …
By Modeling Players’ Insurable Values, Lloyd’s Predicts England Will Win World Cup
Insurance Journal | November 10, 2022
By Modeling Players’ Insurable Values, Lloyd’s Predicts England Will Win World Cup
Lloyd’s of London predicts that England will beat Brazil and emerge victorious at the 2022 FIFA World Cup – with France, Argentina and Spain falling just behind. Lloyd’s is going for a hat-trick of predictions, after correctly identifying Germany and …
Insuring Cannabis Summit: Making Carriers Comfortable, Ensuring Clients Sleep Well
Insurance Journal | November 10, 2022
Insuring Cannabis Summit: Making Carriers Comfortable, Ensuring Clients Sleep Well
Making sure carriers are comfortable and your clients sleep well at night could be the key definition of what an insurance broker does. However, in the business of selling insurance to cannabis companies, whose exposures include many products intended to …