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Archive: October 2023

Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
Insurance Journal | October 10, 2023
Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
Budgets and insurance policy costs have increased exponentially despite doubts surrounding efficacy of cyber practices, according to a recent survey gauging cybersecurity practices among global debt issuers conducted by Moody’s Investors Service. Increased C-suite focus on cyber risk has led …
Hacked Philippine Health Insurer Didn’t Have Cyber Protection Software
Insurance Journal | October 10, 2023
Hacked Philippine Health Insurer Didn’t Have Cyber Protection Software
The Philippines’ state health insurer didn’t have cyber protection software when hackers attacked its computers, giving criminals access to the data of millions of its citizens and triggering calls for an extensive cybersecurity audit. While the full extent of the …
Middle-Market Companies Report Performance Improvements
Insurance Journal | October 10, 2023
Middle-Market Companies Report Performance Improvements
New data from Chubb and the National Center for the Middle Market shows nearly 75% of middle-market companies report an improvement in overall performance compared to last year — a record high statistic shared in the insurer’s biannual Middle Market …
UK Financial Services’ Firms Caught in Crossfire of Labour-Tory Business Battle
Insurance Journal | October 10, 2023
UK Financial Services’ Firms Caught in Crossfire of Labour-Tory Business Battle
Britain’s Labour party has held back the launch of a new business council after senior Conservatives intervened with financial services companies that were due to take part. Chancellor of the Exchequer Jeremy Hunt spoke to at least one business about …
Summit: Cannabis Data A Key to Growing, Retaining Client Base
Insurance Journal | October 10, 2023
Summit: Cannabis Data A Key to Growing, Retaining Client Base
Data and technology are becoming more important to the cannabis market as it matures, and insurance professionals specializing in the segment would benefit from keeping that at top of mind. A group of experts gathered during Insurance Journal’s Insuring Cannabis …
Sarasota and Ocala Named Florida Housing Hot Spots — Ocala Due to Lower Insurance
Insurance Journal | October 10, 2023
Sarasota and Ocala Named Florida Housing Hot Spots — Ocala Due to Lower Insurance
Two areas in Florida have become hot spots for home buying and building, one of them due to higher insurance costs in the rest of the state, according to news and insurance agency reports. Ocala, in the central part of …
OSHA Fines Pennsylvania Candy Factory for Not Evacuating Before Fatal Explosion
Insurance Journal | October 10, 2023
OSHA Fines Pennsylvania Candy Factory for Not Evacuating Before Fatal Explosion
A Pennsylvania chocolate factory was fined more than $44,000 by the federal workplace safety agency on Thursday for failing to evacuate before a natural gas explosion that killed seven people. R.M. Palmer Co. did not heed warnings from employees about …
Michigan’s Hastings Mutual Seeks Approval to Restructure into Mutual Holding Company Structure
Insurance Journal | October 10, 2023
Michigan’s Hastings Mutual Seeks Approval to Restructure into Mutual Holding Company Structure
Hastings Mutual Insurance Company has submitted a Plan of Reorganization with the Michigan Department of Insurance and Financial Services seeking approval to restructure into a mutual holding company structure. HMIC plans to complete the following stops: HMIC will form Hastings …
Families Blame Faulty Vehicle for Ship Fire That Killed Two New Jersey Firefighters
Insurance Journal | October 10, 2023
Families Blame Faulty Vehicle for Ship Fire That Killed Two New Jersey Firefighters
The families of two New Jersey firefighters who were killed battling a July blaze inside a cargo ship said Friday a malfunctioning vehicle being used to load cargo onto the ship caused the fire. Relatives of Newark firefighters Captains Augusto …