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Category: Insurance Journal

Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption
Insurance Journal | December 20, 2024
Ships Canceled, Smelter Hit As Mozambique Braces for More Post-Election Disruption
Post-election protests rocking Mozambique since late October have interrupted trade and hampered a major aluminum smelter, with the southeast African nation braced for more disruption next week. The Constitutional Council is set to validate the disputed vote by Dec. 23 …
Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier
Insurance Journal | December 20, 2024
Palm Beach Revolt Forces Sylvester Stallone to Abandon Mansion Sea Barrier
In his movies, Sylvester Stallone has taken on drug cartels, Soviet troops and boxer Apollo Creed. But in real life, he had to beat a retreat against the Palm Beach Town Council. The movie star appeared Thursday before the council …
Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss
Insurance Journal | December 20, 2024
Self-Proclaimed Bitcoin Inventor Found in Contempt of Court After Lawsuit Loss
A computer scientist who falsely claims to be the inventor of Bitcoin was handed a suspended prison termafter being found in contemptof court by a London judge after a stinging lawsuit loss. The Cryptocurrency Open Patent Alliance, a nonprofit cryptocurrency …
Group Calls New Jersey’s Toxic Waste Dump Settlement ‘Woefully Inadequate’
Insurance Journal | December 20, 2024
Group Calls New Jersey’s Toxic Waste Dump Settlement ‘Woefully Inadequate’
Years of toxic waste dumping in a Jersey Shore community where childhood cancer rates rose caused at least $1 billion in damage to natural resources, according to an environmental group trying to overturn a settlement between New Jersey and the …
People Moves: Chubb’s Westchester Announces New Head of Programs, COO
Insurance Journal | December 20, 2024
People Moves: Chubb’s Westchester Announces New Head of Programs, COO
Westchester, a Chubb Company and Chubb’s excess and surplus lines division, named Nick Gatt, previously chief operating officer (COO) for Westchester Programs, as head of Westchester Programs. Gatt will oversee strategy, underwriting and profitability. Gatt succeeds Franklin Sanders, who has …
G-7 Considers Options to Harden Price Cap on Russian Oil
Insurance Journal | December 20, 2024
G-7 Considers Options to Harden Price Cap on Russian Oil
Group of Seven nations are exploring ways to toughen the price cap on Russian oil as they seek to better target Moscow’s ability to fund its war against Ukraine, according to people familiar with the matter. Options under consideration range …
Singapore’s bolttech, Valued at $2.1 Billion, Raises More Than $100 Million
Insurance Journal | December 20, 2024
Singapore’s bolttech, Valued at $2.1 Billion, Raises More Than $100 Million
Singapore-headquartered insurance technology firm bolttech has raised more than $100 million in its latest funding round, led by Dragon Fund of Mitsubishi UFJ Financial Group and fintech direct lender Liquidity Group, it said on Friday. The Series C funding round …
Grubhub to Pay $25M in Deceptive Business Settlement With Illinois AG and FTC
Insurance Journal | December 20, 2024
Grubhub to Pay $25M in Deceptive Business Settlement With Illinois AG and FTC
SPRINGFIELD, Ill. (AP) — Grubhub Inc., an online food ordering and delivery platform, will pay $25 million to settle a dispute over alleged deceptive business practices with the Illinois attorney general and the Federal Trade Commission, officials said Tuesday. Attorney …
People Moves: Augment Risk Tabs McElhiney to Lead New Captive Offering
Insurance Journal | December 20, 2024
People Moves: Augment Risk Tabs McElhiney to Lead New Captive Offering
Augment Risk, the reinsurance and risk capital solutions broker, announced the appointment of Steve McElhiney as partner of newly created captive and alternative risk transfer solutions offering. Based in Dallas, Steve will develop Augment Risk’s efforts in creating legacy solutions …
Auto Insurer’s Online System Breach Tied to Unemployment Fraud
Insurance Journal | December 20, 2024
Auto Insurer’s Online System Breach Tied to Unemployment Fraud
Noblr, a USAA Insurance subsidiary offering insurance through an online quoting application, will pay $500,000 following a data breach that New York officials say affected 80,000 people and led to fraudulent unemployment benefit claims. New York Attorney General Letitia James …