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Hacking Firm Boss Pleads Guilty to Stealing, Selling Secrets
Insurance Journal | October 30, 2025
Hacking Firm Boss Pleads Guilty to Stealing, Selling Secrets
A former director at a US military contractor that sells computer vulnerabilities pleaded guilty on Wednesday to stealing and reselling $35 million in trade secrets to a Russian cyber-tools broker whose clients include the Russian government. Peter Williams, 39, worked …
FIO: Insurer Litigation Expenses Dipped Slightly Between 2023 and 2024
Insurance Journal | October 30, 2025
FIO: Insurer Litigation Expenses Dipped Slightly Between 2023 and 2024
Insurer litigation expenses declined slightly between 2023 and 2024 and potentially benefitted from state legal reforms to address increasing litigation costs, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) said in a new report. Citing S&P Global Data, …
Ship With Radioactive Zinc Dust Stuck Near Philippine Port, Official Says
Insurance Journal | October 30, 2025
Ship With Radioactive Zinc Dust Stuck Near Philippine Port, Official Says
A ship with 23 containers of radioactive zinc dust is stuck off the coast in the Philippines, unable to unload because there’s no site that has agreed to entomb the offending material, according to a top official. Port authorities aren’t …
Jamaica’s Grid Was Not Ready for Hurricane Melissa
Insurance Journal | October 30, 2025
Jamaica’s Grid Was Not Ready for Hurricane Melissa
After Hurricane Beryl devastated Jamaica’s grid last year, officials at the island’s sole utility vowed to fortify it. But the company’s initiatives were only in the planning and early implementation stages when Hurricane Melissa hit as a Category 5 storm …
Hurricane Melissa Wreaks $8 Billion of Damage, Kills Dozens
Insurance Journal | October 30, 2025
Hurricane Melissa Wreaks $8 Billion of Damage, Kills Dozens
The devastation from Hurricane Melissa came into focus after the record-setting storm moved past Jamaica, Haiti and Cuba with at least 33 deaths and almost $8 billion of damage in its wake. Across the Caribbean, the storm’s powerful winds have …
EverPeak Launches Workers’ Comp in Arkansas
Insurance Journal | October 30, 2025
EverPeak Launches Workers’ Comp in Arkansas
EverPeak Insurance announced the launch of its workers’ compensation solution in Arkansas. “Arkansas is powered by its small business community, and we recognize the critical need for accessible, reliable, and high-quality workers’ compensation coverage right here in the state,” said …
Adjuster Countersues Heritage Over ’60 Minutes’ Response While DFS Probe Stalls
Insurance Journal | October 30, 2025
Adjuster Countersues Heritage Over ’60 Minutes’ Response While DFS Probe Stalls
Independent adjusters’ claims that some Florida insurance companies had tampered with their damage estimates continue to trickle through courthouses and state agencies, with final resolutions far from certain or still months or years in the future. The latest developments include: …
Prediction Markets Firm Kalshi Sues NY Gambling Regulator Alleging Overreach
Insurance Journal | October 30, 2025
Prediction Markets Firm Kalshi Sues NY Gambling Regulator Alleging Overreach
Predictions marketplace Kalshi Inc. sued New York’s gaming commission, saying the state agency is overstepping its authority by attempting to regulate sports-betting operations that fall exclusively under federal jurisdiction. In a lawsuit filed Monday in Manhattan US District Court, Kalshi …
People Moves: Aspire Promotes Alam to Chief Financial Officer
Insurance Journal | October 30, 2025
People Moves: Aspire Promotes Alam to Chief Financial Officer
Aspire General Insurance Services promoted Bilal Alam to chief financial officer. Alam has been with Aspire since January 2023, joining the firm as chief information officer and most recently serving as chief risk officer, where he oversaw the risk, actuarial, …
SCE Wildfire Fund to Pay Millions, Fast-Track Death Claims
Insurance Journal | October 29, 2025
SCE Wildfire Fund to Pay Millions, Fast-Track Death Claims
Southern California Edison said on Wednesday it would pay several million dollars each to families who lost loved ones in the January wildfires that scorched 14,000 acres in greater Los Angeles and destroyed thousands of homes and businesses. The utility, …