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Category: Insurance Journal

Bitcoin Is Being Artificially Propped Up and Shouldn’t Be Legitimized: ECB
Insurance Journal | November 30, 2022
Bitcoin Is Being Artificially Propped Up and Shouldn’t Be Legitimized: ECB
Bitcoin is being artificially propped up and should not be legitimized by regulators or financial companies as it is more akin to gambling, the European Central Bank said on Wednesday. Bitcoin and other cryptocurrencies have been variously presented as an …
Aircraft Lessors’ Lawsuits Against Their Insurers Rise to $8B for Seized Russian Planes
Insurance Journal | November 30, 2022
Aircraft Lessors’ Lawsuits Against Their Insurers Rise to $8B for Seized Russian Planes
Aircraft leasing firms are suing dozens of insurers for around $8 billion in a string of lawsuits over the loss of hundreds of aircraft stuck in Russia since Moscow’s invasion of Ukraine. More than 400 leased planes worth around $10 …
Cyber Attackers Cripple IT Systems of Prominent Indian Hospital
Insurance Journal | November 30, 2022
Cyber Attackers Cripple IT Systems of Prominent Indian Hospital
Cyber attackers have crippled systems at one of India’s most prominent hospitals for a week, forcing the institution to operate a raft of key medical services and labs manually. The All India Institute of Medical Sciences — a hospital that’s …
Western Governments Struggle to Set Russian Oil Price Cap Before Dec. 5
Insurance Journal | November 30, 2022
Western Governments Struggle to Set Russian Oil Price Cap Before Dec. 5
Western governments want to set a maximum purchase price for Russian oil on the world market to limit Moscow’s ability to raise money for its war on Ukraine. The plan is meant to punish Russia while at the same time …
Sunshine Insurance Begins Taking Investor Orders for $950 Million IPO
Insurance Journal | November 30, 2022
Sunshine Insurance Begins Taking Investor Orders for $950 Million IPO
Chinese insurer Sunshine Insurance Group Co. is seeking to raise as much as HK$7.4 billion ($950 million) in its Hong Kong initial public offering. Beijing-based Sunshine Insurance started taking investor orders for about 1.15 billion new shares on Wednesday, according …
Russia Seeks to Boost Recognition of its Shipping Insurance to Dodge Sanctions
Insurance Journal | November 30, 2022
Russia Seeks to Boost Recognition of its Shipping Insurance to Dodge Sanctions
Moscow is seeking to bolster the recognition of Russian maritime cargo insurance to allow it to ship oil and related products abroad in the face of Western sanctions, a government official was quoted as saying on Tuesday. Western sanctions imposed …
Walmart Sued by Employee Over Deadly Shooting
Insurance Journal | November 30, 2022
Walmart Sued by Employee Over Deadly Shooting
An employee at the Walmart in Chesapeake, Virginia, where a supervisor fatally shot six people last week, filed a lawsuit on Tuesday against the company, claiming she and others had warned management about the shooter’s behavior and that nothing was …
Florida Amusement Park Fined $250,000 After Teen’s Fatal Fall
Insurance Journal | November 30, 2022
Florida Amusement Park Fined $250,000 After Teen’s Fatal Fall
The operator of an Orlando amusement park ride from which a Missouri teenager fell to his death should pay a $250,000 fine and can never hold a ride permit in Florida again, state officials said Tuesday. Fourteen-year-old Tyre Sampson fell …
Maryland’s Smith Island Commits to Rebuilding Community, Rejecting Buyouts
Insurance Journal | November 30, 2022
Maryland’s Smith Island Commits to Rebuilding Community, Rejecting Buyouts
SMITH ISLAND, Md. (AP) — For the people of Smith Island, weather guides a way of life as much as the tranquil atmosphere for which it has become known. Hurricanes with names like Hazel, Agnes, Isabel and Irene become part …
Report on Deaths of Workers at Veterans Hospital Finds Protocols Not Followed
Insurance Journal | November 30, 2022
Report on Deaths of Workers at Veterans Hospital Finds Protocols Not Followed
A federal investigation released Monday of a hot steam accident that killed two workers conducting maintenance on a boiler system at a Veterans Affairs hospital in Connecticut substantiates a whistleblower’s allegations that employees did not follow proper protocols to control …