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Category: Insurance Journal

As E-bikes Proliferate, so Do Deadly E-Bike Fires Blamed on Exploding Batteries
Insurance Journal | August 1, 2023
As E-bikes Proliferate, so Do Deadly E-Bike Fires Blamed on Exploding Batteries
The explosion early on a June morning ignited a blaze that engulfed a New York City shop filled with motorized bicycles and their volatile lithium-ion batteries. Billowing smoke quickly killed four people asleep in apartments above the burning store. As …
Aircraft Lessors Aim for June 2024 Trial Over Contested Russia Insurance Claims
Insurance Journal | August 1, 2023
Aircraft Lessors Aim for June 2024 Trial Over Contested Russia Insurance Claims
Some of the world’s largest aircraft lessors and insurers are aiming to be ready to go to trial in June 2024 over contested insurance claims for aircraft stuck in Russia, a lawyer for one of the lessors said on Monday. …
Diverging Cyber Cat Model Results Challenge Underwriters’ Risk Analysis: Guy Carpenter
Insurance Journal | August 1, 2023
Diverging Cyber Cat Model Results Challenge Underwriters’ Risk Analysis: Guy Carpenter
Significant progress has been made in advancing vendor’s cyber catastrophe models, but a notable degree of variability exists across model outputs, which can pose a challenge to insurance and reinsurance companies as they formulate their views of risk, according to …
Industry Trades Rail Against Federal Climate Disclosure Bill
Insurance Journal | August 1, 2023
Industry Trades Rail Against Federal Climate Disclosure Bill
Federal legislation introduced last week that would require insurance companies with more than $100 million in annual premiums to disclose investments and underwritings related to coal, oil and gas projects, and fossil fuels is already required at the state level …
Companies Caught in Diversity Crossfire Are Frozen by Uncertainty
Insurance Journal | August 1, 2023
Companies Caught in Diversity Crossfire Are Frozen by Uncertainty
The US Supreme Court’s ruling against affirmative action has sparked a fierce debate over the future of diversity in corporate America, with dueling sides claiming either that workplace programs are unaffected by the decision, or that they’re suddenly open to …
After UPC Insolvency, Parent Company Rebrands to American Coastal Insurance
Insurance Journal | August 1, 2023
After UPC Insolvency, Parent Company Rebrands to American Coastal Insurance
Six months after its namesake insurance carrier was deemed insolvent, United Insurance Holdings is rebranding itself in the name of its surviving insurer, as American Coastal Insurance Corp. The St. Petersburg, Florida-based holding company for now-defunct United Property & Casualty …
Three Killed When Small Plane Hits Hangar at California Airport
Insurance Journal | July 31, 2023
Three Killed When Small Plane Hits Hangar at California Airport
A pilot and two passengers were killed Sunday when a single-engine plane crashed into a hangar and burst into flames at a Southern California airport, authorities said. The Beechcraft P35 with three people on board crashed during departure around 6: …
Ex-Oregon Prison Nurse Sexually Assaulted Nine Women
Insurance Journal | July 31, 2023
Ex-Oregon Prison Nurse Sexually Assaulted Nine Women
A federal jury found a former nurse at Oregon’s women’s prison guilty of sexually abusing nine women while they were in custody. The jury reached its verdict in the case against 38-year-old Tony Klein last week after nearly two days …
Wildfire Risk Climbs for Spain as Heat Wave Moves to Iberia
Insurance Journal | July 31, 2023
Wildfire Risk Climbs for Spain as Heat Wave Moves to Iberia
The focus of Europe’s heat is switching to Spain, with a high risk of wildfires in southern parts of the Iberian peninsula. Southern Spain is expected to exceed 40C (104F) on Monday, with regions around Cordoba under alert for hot …
People Moves: Lockton Taps Swiss Re’s Wright to Lead UK Commercial Wholesale, Succeeding Lee; MS Amlin Names Ross From Sedgwick as Product Recall Senior U/W
Insurance Journal | July 31, 2023
People Moves: Lockton Taps Swiss Re’s Wright to Lead UK Commercial Wholesale, Succeeding Lee; MS Amlin Names Ross From Sedgwick as Product Recall Senior U/W
This edition of International People Moves details appointments at Lockton and MS Amlin. A summary of these new hires follows here. Lockton Taps Swiss Re’s Wright to Lead UK Commercial Wholesale, Succeeding Lee Insurance broker Lockton announced the appointment of …