The total direct financial loss facing the US Fortune 500 companies, excluding Microsoft, from the CrowdStrike outage on July 19 is $5.4 billion, modeling and insurance services firm Parametrix estimates. The portion of the loss covered under cyber insurance policies …
A Louisiana businessman who sent more than 800 elderly residents from his seven nursing homes to ride out Hurricane Ida in a crowded, ill-equipped warehouse pleaded no contest to 15 criminal counts Monday and was sentenced to three years of …
JAMESTOWN, N.D. (AP) — Two boys died when the SUV they were in crashed and ended up in a small pond along the side of a highway in North Dakota. The driver and five other children were injured in the …
NFP, an Aon company and property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, announced the acquisition of Southern Insurance Agency LLC (SIA), a commercial property and casualty broker located in New Orleans. Louis Faust, founder and …
Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time in nearly seven years – since the …
DAYTONA BEACH, Fla. (AP) — Florida-based Brown & Brown Inc. (BRO), one of the largest U.S. insurance brokerages, this week reported second-quarter net income of $257 million, up from $190 million for the second quarter of last year. On a …
Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather has contributed to a wildfire …
Typhoon Gaemi claimed the lives of at least four people and forced the evacuation of hundreds of thousands in the Philippines, where parts of Manila are flooded even as the storm moves towards Taiwan. Packing sustained winds of up to …
W.R. Berkley CEO W. Robert Berkley, Jr. said the company does not see last week’s global network systems outage “being a material loss to the organization.” “I would be surprised if we didn’t have any loss activity, but we certainly …
The national auto insurance shopping and quoting rate reached a new high between April and June, but many insurers appear to have achieved or are approaching rate adequacy, “which should lead to less rate activity and perhaps less shopping in …
