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Archive: April 2023

Cyber Firm Group-IB Finalizes Exit From Russia to Spur Global Expansion Ambitions
Insurance Journal | April 20, 2023
Cyber Firm Group-IB Finalizes Exit From Russia to Spur Global Expansion Ambitions
Cybersecurity company Group-IB has finalized its exit from Russia, the group said on Thursday, cutting ties with its original market in an effort to spur its global expansion ambitions. Punitive Western sanctions against Moscow since it sent tens of thousands …
BMS to Acquire Australian Broker Western United Financial Services
Insurance Journal | April 20, 2023
BMS to Acquire Australian Broker Western United Financial Services
BMS Group, the London-based independent specialist re/insurance broker, has entered into an agreement to acquire West Australian specialist broker Western United Financial Services (WUFS). The terms of the transaction have not been disclosed. WUFS was founded in 2002 and offers …
British Officials Sound Alarm on Spyware, Mercenary Hacking Market
Insurance Journal | April 20, 2023
British Officials Sound Alarm on Spyware, Mercenary Hacking Market
British officials are sounding the alarm over the widespread abuse of surveillance software and hackers-for-hire, saying that thousands of people were being targeted each year by an industry they described as posing an increasingly unpredictable threat. Britain’s National Cybersecurity Centre …
Google’s Rush to Win in AI Led to Ethical Lapses, Employees Say
Insurance Journal | April 20, 2023
Google’s Rush to Win in AI Led to Ethical Lapses, Employees Say
Shortly before Google introduced Bard, its AI chatbot, to the public in March, it asked employees to test the tool. One worker’s conclusion: Bard was “a pathological liar,” according to screenshots of the internal discussion. Another called it “cringe-worthy.” One …
Veterans Suing 3M Over Earplugs Seek to Stop ‘False Alarm’ Bankruptcy
Insurance Journal | April 20, 2023
Veterans Suing 3M Over Earplugs Seek to Stop ‘False Alarm’ Bankruptcy
U.S. veterans and members of the military on Wednesday urged a judge to dismiss 3M’s bid to use the bankruptcy of its subsidiary Aearo Technologies to shield itself from nearly 260,000 lawsuits over military-issue earplugs that former users allege were …
Sedgwick Acquires Appraisal Service in Mississippi
Insurance Journal | April 20, 2023
Sedgwick Acquires Appraisal Service in Mississippi
Sedgwick, the global benefits, risk management and claims management firm, has acquired Appraisal Service of Mississippi Inc., an auto and property valuation firm. The move further expands Sedgwick’s presence in auto and property claims, the company said in a news …
Oakbridge Adds Another: Wilson Insurance in Georgia
Insurance Journal | April 20, 2023
Oakbridge Adds Another: Wilson Insurance in Georgia
Oakbridge Insurance Agency has continued its growth plans with the acquisition of of Wilson Insurance in Waycross, Georgia. The move is the latest expansion for Atlanta-based Oakbridge, which said it is now one of the largest independent agencies in the …
Hannover Re Latest Company to Leave Net-Zero Insurance Alliance
Insurance Journal | April 19, 2023
Hannover Re Latest Company to Leave Net-Zero Insurance Alliance
German reinsurer Hannover Re on Wednesday became the third major company to leave a global climate alliance focused on reducing emissions that has faced growing political pressure in the United States. Hannover said in an emailed statement that it was …
California Workers’ Comp Committee OK’s .03% Higher Pure Premium Filing
Insurance Journal | April 19, 2023
California Workers’ Comp Committee OK’s .03% Higher Pure Premium Filing
The Workers’ Compensation Insurance Rating Bureau of California’s Governing Committee voted on Wednesday to authorize the WCIRB to submit a Sept. 1, 2023 pure premium rate filing to the state’s Insurance Commissioner on average 0.3% above the average approved September …
TWIA to Maintain $4.6B Total Funding for 2023 Storm Season
Insurance Journal | April 19, 2023
TWIA to Maintain $4.6B Total Funding for 2023 Storm Season
The Texas Windstorm Insurance Association (TIWA) Board of Directors on Tuesday elected to forego additional reinsurance beyond the $2.24 billion it selected in January, bringing the insurer of last resort’s total funding for the 2023 storm season to $4.5 billion. …