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Category: Insurance Journal

University of California Files Lawsuit Against Lloyd’s of London Over Refusal to Reimburse Cyber Insurance Costs
Insurance Journal | June 30, 2023
University of California Files Lawsuit Against Lloyd’s of London Over Refusal to Reimburse Cyber Insurance Costs
The Regents of the University of California sued Lloyd’s of London, arguing the company refused to reimburse the university system for the costs of data breaches covered in a cyber insurance policy. The dispute is over a cyber attack from …
Sexual Assault Laws Inspired by Larry Nassar’s Abuse are Signed by Michigan’s Governor
Insurance Journal | June 30, 2023
Sexual Assault Laws Inspired by Larry Nassar’s Abuse are Signed by Michigan’s Governor
LANSING, Mich. (AP) – People who are sexually assaulted under the guise of medical treatment in Michigan will be further protected when coming forward, and their abusers will receive stricter punishments under legislation signed Thursday by Gov. Gretchen Whitmer. The …
Report: US Lacks Comprehensive Cybercrime Data
Insurance Journal | June 30, 2023
Report: US Lacks Comprehensive Cybercrime Data
The United States lacks comprehensive cybercrime data and monitoring – leaving the country less prepared to combat cybercrime, according to a June report by the United States Government Accountability office. Federal agencies included in the study noted that there is …
UK Regulators Urged to Help Keep London Competitive, Using New Post-Brexit Remit
Insurance Journal | June 30, 2023
UK Regulators Urged to Help Keep London Competitive, Using New Post-Brexit Remit
Britain’s regulators must push ahead with applying their new post-Brexit remit to help keep the country’s financial sector globally competitive, industry officials said on Thursday. After Britain’s departure from the European Union, the government has come under pressure to maintain …
Tiffany’s New York City’s Flagship Store Escapes Damage From Nearby Fire
Insurance Journal | June 30, 2023
Tiffany’s New York City’s Flagship Store Escapes Damage From Nearby Fire
Smoke that billowed outside Tiffany & Co.’s New York flagship location on Thursday morning was from a transformer that caught fire underneath the sidewalk, according to the city’s fire department. The smoke didn’t enter the building, according to Richard Blasi, …
Italy Prosecutors Probe False Accounting Allegations Related to Insurer Eurovita: Source
Insurance Journal | June 30, 2023
Italy Prosecutors Probe False Accounting Allegations Related to Insurer Eurovita: Source
Prosecutors in Milan are probing allegations of false accounting in relation to the crisis of Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became the first Italian insurer …
Insurtech Root Says it Has No ‘Actionable’ Bid
Insurance Journal | June 30, 2023
Insurtech Root Says it Has No ‘Actionable’ Bid
Root Inc. said Thursday that it does not currently have an actionable bid for its acquisition after reports that it received a bid from Embedded Insurance. The Columbus, Ohio-based parent company of Root Insurance said its board “has always considered …
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters
Insurance Journal | June 30, 2023
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters
Insurer GEICO has agreed to pay $805,000 total to settle class action lawsuits by claims adjusters alleging they were entitled to unpaid wages for overtime worked between May 27, 2019 and May 27, 2022. The settlement affects 91 plaintiffs involved …
Fidelis Insurance Valued at $1.5 Billion in Lukewarm Market Debut
Insurance Journal | June 30, 2023
Fidelis Insurance Valued at $1.5 Billion in Lukewarm Market Debut
Fidelis Insurance Holdings notched a valuation of $1.5 billion on Thursday after shares of the reinsurer fell 6.4% on debut. The company joins a list of firms that have gone public this year as the IPO market gains momentum following …
WHO Cancer Research Arm to Say Aspartame Sweetener a Possible Carcinogen: Sources
Insurance Journal | June 30, 2023
WHO Cancer Research Arm to Say Aspartame Sweetener a Possible Carcinogen: Sources
One of the world’s most common artificial sweeteners is set to be declared a possible carcinogen next month by a leading global health body, according to two sources with knowledge of the process, pitting it against the food industry and …