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Tag: insurance-journal

Boeing Assessing Lockbit Hacking Gang Threat of Sensitive Data Leak
Insurance Journal | October 30, 2023
Boeing Assessing Lockbit Hacking Gang Threat of Sensitive Data Leak
Boeing Co said on Oct. 27 that it was assessing a claim made by the Lockbit cybercrime gang that it had “a tremendous amount” of sensitive data stolen from the aerospace giant that it would dump online if Boeing didn’t …
Companies May Be Employers of Contract, Franchise Workers Under US Labor Rule
Insurance Journal | October 30, 2023
Companies May Be Employers of Contract, Franchise Workers Under US Labor Rule
A U.S. labor board on Oct. 26 issued a final rule making it easier for workers and unions to hold companies liable for labor law violations by their franchisees and contractors, reviving an Obama-era standard heavily criticized by trade groups. …
Bayer Ordered to Pay $175 Million in Latest Roundup Cancer Trial
Insurance Journal | October 30, 2023
Bayer Ordered to Pay $175 Million in Latest Roundup Cancer Trial
A Philadelphia jury on Friday found Bayer AG liable in a case brought by a retired restaurant owner who claimed his cancer was due to exposure to the company’s Roundup weed killer, and ordered Bayer to pay him $175 million …
South Carolina Seeing Record Number of Insurance Fraud Complaints
Insurance Journal | October 30, 2023
South Carolina Seeing Record Number of Insurance Fraud Complaints
South Carolina in 2022 saw a record number of complaints about insurance fraud, and has almost matched the number through the first 10 months of this year. And some state lawmakers are now looking into the reasons for the increase. …
Universal Ready to Add Florida Policies Again, Contemplates Potential Rate Cuts
Insurance Journal | October 30, 2023
Universal Ready to Add Florida Policies Again, Contemplates Potential Rate Cuts
Universal Insurance Holdings, after discontinuing more than 160,000 policies over the last two years, now sounds like it’s ready to start growing again in its home state of Florida. “As we move forward, we’re more confident in the Florida market, …
NFP Buys UK-Based Resolute Insurance Services
Insurance Journal | October 27, 2023
NFP Buys UK-Based Resolute Insurance Services
NFP, a New York City-based property/casualty broker, announced it has acquired Resolute Insurance Services, an independent insurance broker based in the West Midlands. Financial details of the deal were not disclosed. NFP said the acquisition expands its commercial insurance product …
Bankman-Fried Acknowledges ‘Mistakes’ But Testifies He Did Not Defraud Anyone
Insurance Journal | October 27, 2023
Bankman-Fried Acknowledges ‘Mistakes’ But Testifies He Did Not Defraud Anyone
Sam Bankman-Fried, testifying in his own defense at his fraud trial on Friday, acknowledged that a “lot of people got hurt” when the FTX cryptocurrency exchange he founded collapsed, but said he did not defraud anyone or take customer funds. …
Re/insurer SiriusPoint and MGA Banyan Risk Extend Capacity Relationship
Insurance Journal | October 27, 2023
Re/insurer SiriusPoint and MGA Banyan Risk Extend Capacity Relationship
SiriusPoint Ltd., the specialty insurer and reinsurer, and managing general agent Banyan Risk Ltd. announced an extension of their capacity partnership. The deal extends for three years the Bermuda-based companies’ existing commercial relationship. At the same time, it concludes the …
The Hartford Q3 Income Jumps 93% on Commercial Lines Results
Insurance Journal | October 27, 2023
The Hartford Q3 Income Jumps 93% on Commercial Lines Results
The Hartford reported a 93% increase in third quarter net income to $645 million driven by results in its commercial lines segment. The Hartford, Connecticut-based insurer said third quarter net income in commercial lines grew more than 80% to $519 …
Communities Can’t Recycle or Trash E-Cigarettes. So What Happens to Them?
Insurance Journal | October 20, 2023
Communities Can’t Recycle or Trash E-Cigarettes. So What Happens to Them?
With the growing popularity of disposable e-cigarettes, communities across the U.S. are confronting a new vaping problem: how to safely get rid of millions of small, battery-powered devices that are considered hazardous waste. For years, the debate surrounding vaping largely …