Monthly Archives: <span>January 2024</span>

States and Congress Wrestle With Cybersecurity at Water Utilities

The tiny Aliquippa water authority in western Pennsylvania was perhaps the least-suspecting victim of an international cyberattack. It had never had outside help in protecting its systems from a cyberattack, either at its existing plant that dates to the 1930s …

Judge Blocks Alabama Cannabis Licenses Amid Dispute Over Selection Process

MONTGOMERY, Ala. (AP) — A judge temporarily blocked Alabama from issuing licenses to medical marijuana dispensaries amid an ongoing legal battle over how the state selected the winning companies. Montgomery Circuit Judge James Anderson issued a temporary restraining order late …

Travelers Completes Acquisition of Corvus Insurance

The Travelers Cos. completed its previously announced acquisition of Corvus Insurance Holdings Inc., a cyber insurance managing general underwriter. The $435 million acquisition was first announced in November 2023, which Travelers said would boost its middle-market excess and surplus lines …

New York Fund for Injured Black Car Drivers Wins Surcharge Fight

The New York workers’ compensation fund for black car drivers was within its authority to impose a 2.5% surcharge on noncash tips that passengers paid to drivers, a three-justice panel of the Second Circuit Court of Appeals unanimously ruled on …

European Central Bank’s Cyber Stress Test Will Not Affect Capital Requirements

The European Central Bank’s cyber resilience stress test in the coming months will not affect bank-specific capital requirements but instead form part of a broader supervisory assessment, the ECB said in a statement on Wednesday. The long-planned stress test, which …

Global Shipping Firms Continue to Pause Red Sea Shipments After Weekend Attack

Denmark’s Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk’s vessels. Both shipping giants have …

Japan Airlines Flight Was Cleared to Land Before Fiery Collision at Tokyo Airport

As Japan Airlines Co. Flight 516 approached Tokyo’s Haneda Airport late on Tuesday afternoon, all signs pointed to an uneventful conclusion to the routine one-and-a-half hour journey from Sapporo in northern Japan. At 5:43 p.m. local time, control-tower staff told …

P/C Insurers Responsible for Nearly 7,000 Layoffs in 2023

U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, cutting at least 6,800 jobs, said the authors of the report, Tyler Hammel and …

Japan Adds Rescuers as Death Toll From Jan. 1 Quake Rises to 64

The death toll in the wake of the Jan. 1 earthquake off Japan’s northwest coast rose above 60 as the government doubled the number of personnel dispatched to the affected areas to bolster rescue operations. The number of reported fatalities …

People Moves: Church Mutual Promotes Ogilvie to CEO; World Insurance Associates Hires Klien as EVP; Amwins Appoints Armijo President of Amwins Underwriting

Church Mutual Insurance Company, S.I. promoted Alan S. Ogilvie from president to president and chief executive officer, effective Jan. 1, 2024. Ogilvie assumed the role from Rich Poirier, who has retired after 12 years of service to the company. Ogilvie …