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Archive: March 2024

Last Year Was Safest Ever to Fly, With No Jetliner Fatalities
Insurance Journal | March 1, 2024
Last Year Was Safest Ever to Fly, With No Jetliner Fatalities
Last year was the safest ever for commercial flying by a number of measures, the airline industry’s global lobby said, with no fatal accidents involving passenger jets in 37.7 million flights. No hull losses to passenger jets were recorded either, …
Marsh McLennan, Ukraine, Lloyd’s Expand Insurance Facility for Non-Military Shipments
Insurance Journal | March 1, 2024
Marsh McLennan, Ukraine, Lloyd’s Expand Insurance Facility for Non-Military Shipments
Insurance broker Marsh McLennan, the Ukrainian government and Lloyd’s have announced a major expansion of the Unity insurance facility – a public-private partnership originally launched in November 2023 to provide war risk insurance for grain shipments and other critical food …
State Farm Underwriting Loss Climbs to $14B
Insurance Journal | March 1, 2024
State Farm Underwriting Loss Climbs to $14B
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history. A year later, and another record. The underwriting loss figure climbed to $14 billion for 2023, with a nearly …
UK Plc Attracts Wave of Takeover Offers From Foreign Suitors
Insurance Journal | March 1, 2024
UK Plc Attracts Wave of Takeover Offers From Foreign Suitors
The UK has become a hotbed for mergers and acquisitions this year as dealmakers hunt for bargains in the country’s underperforming stock market. Direct Line Insurance Group Plc and electronics retailer Currys Plc both rejected bids from overseas buyers this …
Climate Tech Firm to Pilot Fast-Paying Flood Insurance in Africa
Insurance Journal | March 1, 2024
Climate Tech Firm to Pilot Fast-Paying Flood Insurance in Africa
Climate change is particularly perilous for small farmers. Warmer conditions are resulting in more damaging bouts of rain and drought, but traditional crop insurance products are often unavailable or financially out of reach. In Africa, 99% of smallholder farmers are …
Taiwan Military Says Hackers Sold Telecom Giant’s Data on Web
Insurance Journal | March 1, 2024
Taiwan Military Says Hackers Sold Telecom Giant’s Data on Web
Taiwan’s military said hackers sold data stolen from the island’s biggest telecom company on the internet, the latest challenge to the democratically run island’s cybersecurity. The leaked documents that related to the military didn’t contain confidential information, the Defense Ministry …
Job Cuts, Fleeing Investors: How Anti-DEI Lawsuits Take a Toll on Targets
Insurance Journal | March 1, 2024
Job Cuts, Fleeing Investors: How Anti-DEI Lawsuits Take a Toll on Targets
Elizabeth Gore is fighting for survival. Just six months ago, the founder of financial technology startup Hello Alice was getting ready to close an investment round to grow its business offering grants and networking opportunities to entrepreneurs from underrepresented groups. …
Drugmaker Endo Reaches $465M Bankruptcy Settlement With US
Insurance Journal | March 1, 2024
Drugmaker Endo Reaches $465M Bankruptcy Settlement With US
Bankrupt drugmaker Endo International will pay up to $465 million to settle the federal government’s law enforcement, tax, and healthcare cost claims, the U.S. Department of Justice said on Thursday. The settlement removes Endo’s largest obstacle to completing its plan …
UnitedHealth Says ‘Blackcat’ Group Behind Recent Hack
Insurance Journal | March 1, 2024
UnitedHealth Says ‘Blackcat’ Group Behind Recent Hack
UnitedHealth Group said on Thursday the recent cyberattack at its tech unit, Change Healthcare, was perpetrated by hackers who identified themselves as the “Blackcat” ransomware group. The statement confirms a Reuters report on Monday. UnitedHealth had initially blamed a “suspected …
Sierra Club Testing Finds High Levels of ‘Forever’ Chemicals in Water in NE Tennessee
Insurance Journal | March 1, 2024
Sierra Club Testing Finds High Levels of ‘Forever’ Chemicals in Water in NE Tennessee
High levels of “forever chemicals,” including poly-fluoroalkyl, or PFAS compounds, have been found in northeastern Tennessee rivers and drinking water supplies, likely from wastewater sludge that is spread on farms as fertilizer, the Sierra Club’s Tennessee Chapter said in a …