Monthly Archives: <span>October 2022</span>

New York’s Workers’ Compensation Fund Now Covers Out-Of-State Workers

The New York State Insurance Fund (NYSIF), the state’s largest workers’ compensation insurer, announced that it will extend coverage to out-of-state employees for the first time. Under the initiative, any New York-based employer that has at least 50% of its …

Update: Lloyd’s Insurer Ascot Pauses Writing New Cover for Ukrainian Grain Shipments

Lloyd’s of London insurer Ascot is suspending writing cover for new shipments using the Ukrainian grains corridor in the Black Sea until it has more clarity about the situation there, a senior official said on Monday. Moscow said it was …

Grain Ships Sail From Ukraine Despite Moscow Exit From Deal; Insurance Cover Paused

Ships brought grain from Ukrainian ports on Monday, suggesting Moscow had stopped short of reimposing a blockade that might have caused world hunger, despite suspending its participation in a U.N. program to safely export grain from the war zone. Air …

U.S. Hurricane Victims Want Improved Disaster Relief, With Faster Money, Less Red Tape

Survivors of storms that pounded several U.S. states say the nation’s disaster aid system is broken and that they want reforms to get money into victims’ hands faster, with less red tape. On the 10th anniversary of Superstorm Sandy’s landfall …

‘Quiet Quitting’ Surges in U.S. Financial Services as It Gains Steam Across Sectors

The viral quiet quitting trend is taking hold in finance — once the industry with the most engaged workers, according to a new study. The share of workers who said they’re “very likely” or “extremely likely” to try their hardest …

Cyber Officials From 37 Countries, 13 Firms to Meet in Washington on Ransomware

The White House will host officials from 37 countries and 13 global companies in Washington this week to address the growing threat of ransomware and other cyber crime, including the illicit use of cryptocurrencies, a senior U.S. official said. The …

Musk Denies He Is Firing Twitter Employees in Attempt to Avoid Payouts

Twitter’s new owner Elon Musk has denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day. In a response to a Twitter user asking …

Financial Services Executives Toast City of London’s Prospects Under PM Sunak

When senior figures from the City of London gathered for a dinner in July at the historic Mansion House, they broke into applause for someone who was not there. John Glen had just resigned as the government’s City minister, citing …

Insured Losses for Australia’s October 2021 Storms Estimated at A$972M: PERILS

Insured losses for the severe storms, which hit Southern Australia on Oct. 28-30, 2021, are estimated at A$972 million (US$623.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final estimate dropped …

Wilson Steps Down as Brit CEO for Ongoing Health Issues, Succeeded by Thompson

Brit Ltd., the London-based specialty insurer and reinsurer, announced that Matthew Wilson will be stepping down from his role as group CEO and will be succeeded by Martin Thompson, who will become the new group CEO and executive chairman of …