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Tag: insurance-journal

Fake Job Offer Opened Door to Suspected North Korean Crypto Hack
Insurance Journal | August 10, 2023
Fake Job Offer Opened Door to Suspected North Korean Crypto Hack
In late July, a programmerat Estonia’s CoinsPaid, the world’s biggest crypto payment provider, met over video link with a recruiter who had reached out on LinkedIn with a lucrative job offer. During the 40-minute job interview, the engineer was asked …
Markets/Coverages: Howden Offers Blended Policy for PI, Crime and Cyber Liability
Insurance Journal | August 10, 2023
Markets/Coverages: Howden Offers Blended Policy for PI, Crime and Cyber Liability
Howden, the London-based insurance group, announced the launch of a blended insurance product that brings together professional indemnity, crime and cyber liability into one policy and under one limit. It brings a different approach to insurance for financial institutions, offering …
Tainted Medication Fears Spur Defense Department to Seek Outside Testing
Insurance Journal | August 10, 2023
Tainted Medication Fears Spur Defense Department to Seek Outside Testing
The US Department of Defense entered an agreement with Valisure, an independent lab that’s spotted dangerous chemicals in a variety of widely used pharma and consumer products, to test medications amid surging concerns about generic drug quality and shortages. Under …
Wind-Driven Hawaii Wildfire Destroying Maui Tourist Town
Insurance Journal | August 9, 2023
Wind-Driven Hawaii Wildfire Destroying Maui Tourist Town
A wildfire erupted in Maui on Wednesday fueled by strong winds from Hurricane Dora, destroying homes and businesses in a tourist town and forcing some residents to jump into the ocean to escape the flames. The Associated Press is reporting …
Inszone Expands in Texas With Acquisition of Speck Insurance
Insurance Journal | August 9, 2023
Inszone Expands in Texas With Acquisition of Speck Insurance
Inszone Insurance Services, a national provider of benefits, personal, and commercial lines insurance, announced the acquisition of Speck Insurance and Financial Services. Terms were not disclosed. The acquisition includes all operations of Speck Insurance and Financial Services, a personal and …
NC DOI Arrives at 4.5% Increase in Auto Rates for Next Two Years, 9.9% on Dwelling
Insurance Journal | August 9, 2023
NC DOI Arrives at 4.5% Increase in Auto Rates for Next Two Years, 9.9% on Dwelling
North Carolina’s insurance commissioner has negotiated a smaller increase on auto insurance rates than the state’s rating agency had requested. The North Carolina Rate Bureau in February requested an average increase of 28.4% for private passenger auto insurance and a …
Michigan’s CMS Energy to Explore Sale of 13 Hydroelectric Dams
Insurance Journal | August 9, 2023
Michigan’s CMS Energy to Explore Sale of 13 Hydroelectric Dams
CMS Energy Corp’s unit Consumers Energy said on Wednesday it will explore the sale of its 13 hydroelectric dams, as the energy provider looks to minimize the cost burden on customers. The utility service provides natural gas and electricity to …
Some Gains Made on 80K Acre Southern California Wildfire
Insurance Journal | August 1, 2023
Some Gains Made on 80K Acre Southern California Wildfire
Containment on an 80,000-plus-acre wildfire in Southern California grew to 23% on Tuesday, as firefighters made some progress against the state’s most massive ongoing blaze. It was listed as being at 0% containment a day earlier. The York Fire in …
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Insurance Journal | August 1, 2023
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …
AIG General Insurance Sees Strong Q2 Growth, Margin Improvement
Insurance Journal | August 1, 2023
AIG General Insurance Sees Strong Q2 Growth, Margin Improvement
American International Group saw second quarter growth in net premiums written in its general insurance segment to $7.5 billion, a 10% increase from the same time a year ago. The insurer’s second quarter net income attributable to common shareholders fell …