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Archive: September 2023

Israeli Cyber Firm Cato Networks Raises $238M, Valued at $3B
Insurance Journal | September 20, 2023
Israeli Cyber Firm Cato Networks Raises $238M, Valued at $3B
Israeli cybersecurity firm Cato Networks said on Tuesday it had raised $238 million in a private funding round that valued the company at $3 billion. The round, one of Israel’s largest this year and Cato’s biggest, was led by LightSpeed …
The Legal Tensions of Collaboration and Competition in the Life Sciences Industry
Insurance Journal | September 20, 2023
The Legal Tensions of Collaboration and Competition in the Life Sciences Industry
Moderna’s suit against Pfizer and partner BioNtech over alleged COVID-vaccine-related patent infringement – and the targets’ countersuit – might suggest an abrupt return to business as usual after an unprecedented period of cooperation among life sciences companies during the height …
People Moves: Hylant Names Reyes Risk Leader and Adds NC Benefits Team Members
Insurance Journal | September 20, 2023
People Moves: Hylant Names Reyes Risk Leader and Adds NC Benefits Team Members
Hylant, one of the larger privately held insurance brokers in the country, has made a number of personnel changes in recent weeks. Alejandro Reyes will lead Ohio-based Hylant’s business risk consulting teams, which help clients manage operational risks, the company …
Assumable Mortgages Could Save Buyers Thousands in Interest, Startup Says
Insurance Journal | September 20, 2023
Assumable Mortgages Could Save Buyers Thousands in Interest, Startup Says
A New York startup company said it is now offering a platform that will make it easier for homebuyers to assume a mortgage from the seller, potentially saving buyers significantly over current interest rates. Roam, as it’s known, launched last …
People Moves: Bundy to Lead Burns & Wilcox San Diego Office
Insurance Journal | September 20, 2023
People Moves: Bundy to Lead Burns & Wilcox San Diego Office
Kendall Bundy has joined Burns & Wilcox and will lead its San Diego, Calif. office. Bundy most recently served as a vice president at RT Specialty and also worked as project manager at Fieldwork Network. Burns & Wilcox is headquartered …
Washington Proposes 4.9% Increase in Workers’ Comp Rates for 2024
Insurance Journal | September 20, 2023
Washington Proposes 4.9% Increase in Workers’ Comp Rates for 2024
The Washington State Department of Labor & Industries is proposing a 4.9% increase in the average hourly rate employers and workers will pay for workers’ compensation insurance next year. If adopted, the increase would have employers and workers jointly paying …
Class Action Claims Mobile Home Park Managers Conspired to Fix and Inflate Lot Rental Prices
Insurance Journal | September 8, 2023
Class Action Claims Mobile Home Park Managers Conspired to Fix and Inflate Lot Rental Prices
CHICAGO (AP) – A lawsuit seeking class-action status accuses nine mobile home community management companies and a mobile home market data provider of conspiring to fix and inflate lot rental prices at more than 150 locations across the U.S. The …
Kansas Insurance Department Returns Funds to Group-Funded Pools After Eliminating Assessment Fees
Insurance Journal | September 8, 2023
Kansas Insurance Department Returns Funds to Group-Funded Pools After Eliminating Assessment Fees
Kansas Insurance Commissioner Vicki Schmidt announced the Kansas Insurance Department (KID) has returned dollars to group-funded pools following the enactment of legislation that does away with two assessment fees. The Department introduced and successfully lobbied for the passage of legislation …
Litigation Funding Firms Seek to Intervene in Disciplinary Proceedings Against McClenny Moseley & Associates
Insurance Journal | September 8, 2023
Litigation Funding Firms Seek to Intervene in Disciplinary Proceedings Against McClenny Moseley & Associates
Two litigation funding firms are seeking to intervene in disciplinary proceedings against McClenny Moseley & Associates after a federal judge in Louisiana ruled that the law firm has no right to any attorney fees for 201 hurricane-damage claims. The Equal …
Severe Storm Leaves Thousands Without Power in Little Rock, Arkansas
Insurance Journal | September 8, 2023
Severe Storm Leaves Thousands Without Power in Little Rock, Arkansas
LITTLE ROCK, Ark. (AP) – Thousands of Little Rock residents were without power Wednesday after a severe storm uprooted trees and damaged homes in neighborhoods rebuilding from a tornado that hit the state last spring. There were no immediate reports …