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Tag: insurance-journal

Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
Insurance Journal | June 30, 2025
Markets/Coverages: AEGIS London Raises Line Sizes for Political, Financial Risk Cover
AEGIS London, a top quartile Lloyd’s syndicate, has announced significant enhancements to its political and financial risk (PFR) offering. The syndicate has increased its sovereign non-payment (CF) and political risk (PR) line sizes from $20 million to $30 million, and …
Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Insurance Journal | June 30, 2025
Executives Get Combined 141 Years in Prison for Italy PFAS Spill
Eleven former executives of companies linked to Miteni SpA were sentenced to a combined 141 years in prison by an Italian court for one of the largest groundwater contaminations of forever chemicals in Europe. Parent company Mitsubishi Corp., Japan’s biggest …
Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
Insurance Journal | June 30, 2025
Hedge Fund Strategy Built on Catastrophes Taps a Hot New Trend – Parametrics
One of the most successful hedge fund strategies of recent years — insurance-linked securities — is latching on to an old idea whose popularity is suddenly soaring. Parametric insurance, where policyholders get quick payouts if weather-related metrics are met, used …
PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
Insurance Journal | June 30, 2025
PwC’s AI Chief Says Firm Has Cut Prices as Tech Saves Staff Time
PricewaterhouseCoopers LLP, one of the world’s largest professional advisory firms, has cut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. “Clients would hear us talking about using …
Reeves Plans Rule Change to Create UK Captive Insurance Market
Insurance Journal | June 30, 2025
Reeves Plans Rule Change to Create UK Captive Insurance Market
The UK government is planning to announce rule changes to help create a potential new insurance market worth billions of pounds as part of a drive to boost competitiveness. Chancellor of the Exchequer Rachel Reeves is expected to lay out …
As Hurricane Season Picks Up, Key Forecasting Tool Access Set to End
Insurance Journal | June 30, 2025
As Hurricane Season Picks Up, Key Forecasting Tool Access Set to End
US National Hurricane Center (NHC) forecasters accurately predicted Hurricane Erick would explode in intensity as it hit Mexico’s Pacific coastline. Now, key tools that helped inform that outlook will go away by the end of this month, and it’s unclear …
Tech Firms Warn ‘Scattered Spider’ Hacks Are Targeting Aviation Sector
Insurance Journal | June 30, 2025
Tech Firms Warn ‘Scattered Spider’ Hacks Are Targeting Aviation Sector
Tech companies Google and Palo Alto Networks are sounding the alarm over the “Scattered Spider” hacking group’s interest in the aviation sector. In a statement posted on LinkedIn on Friday, Sam Rubin, an executive at Palo Alto’s cybersecurity-focused Unit 42, …
GM Wins Victory as Appeals Court Decertifies Transmission Lawsuits
Insurance Journal | June 30, 2025
GM Wins Victory as Appeals Court Decertifies Transmission Lawsuits
General Motors persuaded a federal appeals court on Friday to decertify a class action seeking to hold the automaker liable for knowingly selling about 800,000 cars, trucks and SUVs with faulty transmissions. In a 9-7 vote, the 6th U.S. Circuit …
Investigation Into Florida Condo Collapse is Expected to Finish in 2026
Insurance Journal | June 30, 2025
Investigation Into Florida Condo Collapse is Expected to Finish in 2026
More than four years after a Florida condominium collapse killed 98 people, federal investigators have yet to make a final determination of the cause — but they do have some leading theories. The National Institute of Standards and Technology, the …
Erie Insurance Restores Online Access for Customers; Still Working on Other Systems
Insurance Journal | June 29, 2025
Erie Insurance Restores Online Access for Customers; Still Working on Other Systems
Erie Insurance has reported that online account access for customers including bill pay has been restored in the latest update on its recovery from its network outage. The insurer said the network and system outage it initiated on June 7 …