Liability Reinsurance Crisis Could Be Looming, TransRe CEO Says June 7, 2024 By Susanne Sclafane “There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken...
Massachusetts Drivers Lose Second Bid for Class Certifications Over Lost Resale Value June 7, 2024 By Andrew G. Simpson Three Massachusetts drivers have hit a dead end for the second time in their drive for court certification of class...
Close Call at South Carolina Bridge as Out-of-Control Freighter Loses Power June 7, 2024 By Jeffrey Collins A large cargo ship lost control of its engines and went nearly full throttle through a South Carolina harbor Wednesday,...
Brown & Brown Acquires Minnesota’s McNamara Company June 7, 2024 Brown & Brown, Inc. announced it has acquired the assets of McNamara Company. McNamara Company is a family-owned agency that...
Growing Reliance on Big Tech for AI Carries New Risks, Banks Say June 7, 2024 By Elizabeth Howcroft The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry,...
Markets/Coverages: MGA Nirvana Renews Media, Tech & Cyber Binder With Increased Media Liability Line June 7, 2024 Nirvana, the London-based managing general agent and Lloyd’s coverholder, announced the renewal of its Media/Technology Errors & Omissions and Cyber...
People Moves: Ascot Underwriting Names Thompson as CEO, Keith Named Head of Ascot Bermuda; Geneva Assn. Appoints AIA’s Top Executive as Chair June 7, 2024 This edition of International People Moves details appointments at Ascot Underwriting Ltd. and Ascot Bermuda, along with The Geneva Association....
Amazon Accused of Misusing Small Sellers’ Data in $1.3 Billion UK Lawsuit June 7, 2024 Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused...
Russian Hackers Claim Cyberattack on Spanish Defense Company June 7, 2024 Santa Barbara Systems, a General Dynamics subsidiary in Spain that is refurbishing Leopard tanks for delivery to Ukraine, suffered a...
5th Circuit: Louisiana Law Voids Arbitration Clause in Surplus Lines Policies June 7, 2024 By Ezra Amacher A panel of the 5th Circuit Court of Appeals ruled this week that a Louisiana statute voids the formation of...