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Is Mar-a-Lago Worth $1 Billion? Valuations at the Core of Trump’s Fraud Trial
Insurance Journal | October 10, 2023
Is Mar-a-Lago Worth $1 Billion? Valuations at the Core of Trump’s Fraud Trial
FORT LAUDERDALE, Fla. (AP) — How much is Donald Trump`s Mar-a-Lago worth? That`s been a point of contention after a New York judge ruled that the former president exaggerated the Florida property`s value when he said it`s worth at least …
SpaceX Paid Her $92K While Men Got $115K Suit in California Says
Insurance Journal | October 10, 2023
SpaceX Paid Her $92K While Men Got $115K Suit in California Says
SpaceX was accused in a lawsuit of discrimination for allegedly paying women and minority employees less than their male and White co-workers. The proposed class action, which cites California’s Equal Pay Act, was filed in Los Angeles Superior Court by …
Georgia Power to Pay $413M to Settle Lawsuit over Nuke Plant Cost Overruns
Insurance Journal | October 10, 2023
Georgia Power to Pay $413M to Settle Lawsuit over Nuke Plant Cost Overruns
ATLANTA (AP) — Georgia Power Co. will pay $413 million to settle a lawsuit accusing the utility of reneging on financial promises to one of its nuclear reactor partners. The payments to Oglethorpe Power Corp., announced Friday, could hold down …
Amtrak Train Crash into Car in Vermont Kills Driver, Injures Passenger
Insurance Journal | October 10, 2023
Amtrak Train Crash into Car in Vermont Kills Driver, Injures Passenger
An Amtrak passenger train crashed into an SUV in southeastern Vermont, killing the SUV`s driver and injuring his passenger, authorities said. The state police said 53-year-old Craig Hudson, of Brattleboro, died in the crash Friday in Vernon, a town of …
People Moves: Gallagher Re Taps RenRe’s Allard as Head of Global Credit & Political Risk; Sompo Int’l Names Heads of Claims, Distribution & Client Relationship Mgmt
Insurance Journal | October 10, 2023
People Moves: Gallagher Re Taps RenRe’s Allard as Head of Global Credit & Political Risk; Sompo Int’l Names Heads of Claims, Distribution & Client Relationship Mgmt
This edition of International People Moves details appointments at Gallagher Re and Sompo International. A summary of these new hires follow here. Gallagher Re Taps RenRe’s Allard to Lead Global Credit & Political Risk Global reinsurance broker Gallagher Re has …
Markets/Coverages: Irish MGA iSure Launches Professional Indemnity Facility
Insurance Journal | October 10, 2023
Markets/Coverages: Irish MGA iSure Launches Professional Indemnity Facility
iSure, the specialist SME managing general agent in Ireland, part of the re/insurance MGA Rokstone, has announced the launch of a professional Indemnity (PI) facility with a €2 million primary and a €3 million excess of loss limit. Drawing on …
Odey Asset Management to Shut Wealth Business in Wake of Sexual Assault Allegations Against Founder
Insurance Journal | October 10, 2023
Odey Asset Management to Shut Wealth Business in Wake of Sexual Assault Allegations Against Founder
Odey Asset Management is closing its wealth business, the UK’s Financial Conduct Authority said, months after its founder Crispin Odey was accused of sexual misconduct. “We will work closely with the firm as it winds down, to ensure clients are …
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 …