National News for July 2024
- Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe
- Bain Capital Insurance Backs Specialized Risk Financing Firm 1970 Group
- Extreme Weather Sends Insured Losses 70% Above Historical Norms
- Tesla Recalls 1.85 Million US Vehicles Over Unlatched Hood Issue
- People Moves: Resilience Promotes Brady to Chief Underwriting Officer; Burns & Wilcox Names New Leaders in Southwest, Michigan
- Coastal Communities Get $575M to Guard Against Floods, Other Disasters
- Delta Air Lines to Seek Compensation Over Cyber Outage: Report
- Higginbotham Exec Marc Spivey Cheers on Daughter Competing in 2024 Olympics
- US Agency Puts Onus on Amazon for Sale of Hazardous Third-Party Products
- Wells Fargo Must Face Lawsuit Over Sham Job Interviews
- Microsoft Reports Outage of Some Office and Cloud Services
- Cowbell Secures $60M Series C Funding From Zurich
- Insurance Comparison Site The Zebra Buys Marble
- Public D&O Price Decreased 5.2% in Second Quarter, Says Aon
- Nationwide Plans 5% Reduction in Employee Headcount
- Senators Call on FTC to Investigate Automakers’ Sale of Driving Data
- Tyco, TIG Insurance Agree to Settle ‘Forever Chemicals’ Fire Foam Litigation
- AM Best: Migration to Cat-Prone States Fuels Record HO Underwriting Losses in 2023
- Indivior Reaches $86 Million Opioid Settlement With 16 States
- Crop Insurance Won’t Let Some Farmers Adapt to Climate Change
- Abbott Loses $500 Million Infant Formula Verdict, Lawyers Say
- Defense Institute Aims to Educate, End ‘Skyrocketing’ Nuclear Verdicts
- J&J Loses Latest Legal Bid to Revive Talc Bankruptcy Strategy
- MGU Private Client Select Teams With Ryan Specialty on High Net Worth
- Rushed Railcar Inspections and ‘Stagnated’ Safety Record Reinforce Concerns
- How to Outperform: Don’t Outsource Underwriting to MGAs
- People Moves: Liberty Mutual Names Haase CFO; Peirce to Retire
- FTC Looking Into Targeted Pricing Based on Personal Data
- Allstate’s National General Sued by DOJ Over Alleged Force-Placed Insurance ‘Scheme’
- Outlook Positive, AI Use on the Rise for Independent Agents, Says Nationwide
- Boeing Completes Deal to Plead Guilty Over 737 Max Crashes
- Insured Losses From CrowdStrike Outage Could Reach $1.5B, CyberCube Says
- How a Perfect Storm Sent Church Insurance Rates Skyrocketing
- Hurricanes Get the Headlines But Inland Flooding Tops the Disaster List
- Senate Democrats Seek to Reverse Supreme Court Curb on Regulatory Agency Power
- Secret Ratings Show US Regulator’s Concern on Banks’ Handling of Risks
- Global Q2 Commercial Insurance Rates Remain Flat, Ending 7 Years of Price Hikes: Marsh
- WR Berkley CEO: Losses From Tech Outage Expected to Be ‘Manageable’
- J.D. Power: Auto Insurance Shopping Hits New High, Could Drop With Rate Adequacy
- Hackers Leak Documents From Pentagon IT Services Provider Leidos
- US Judge Will Not Block FTC Ban on Worker ‘Noncompete’ Agreements
- Applied Systems Acquires Insurance AI Platform Planck
- Chubb Q2 Net Income Up 24% to $2.2B
- Personal Auto Driving P/C Insurers to 2024 Underwriting Profit
- Whole Foods Settles Ex-Worker’s Lawsuit Over Black Lives Matter Masks
- People Moves: CRC Makes 3 Exec Leadership Moves; Mosaic Hires Smith as Americas CEO; HUB Names Davis Curtis Global Education Specialty Leader
- Wiz Rejects Google’s $23 Billion Offer, Seeks IPO Instead
- Beef Between Wholesale and Retail Agents Should Go to Trial, Court Finds
- Delta Warns Cancellations to Stretch for Days After Outage
- US Severe Storms Continue to Drive Global Natural Disaster Losses: Gallagher Re
- Trigger Warning: Cyber Policy Wordings to Impact Coverage for Tech Outage
- What Role Does Insurance Play in a Politically Charged Climate?
- Microsoft: About 8.5M of Its Devices Affected by CrowdStrike-Related Outage
- Stellantis Recalls 24,000 Chrysler Minivans for Fire Risks, Urges Outdoor Parking
- Two Russian Men Plead Guilty in LockBit Ransomware Attacks
- Insurers Face Business Interruption Claims After Global Tech Outage
- Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
- Insurance Broker TWFG’s Shares Rise Nearly 30% in Market Debut
- Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss
- Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ
- Chicken Culling, Disposal Raise Concern as Bird Flu Spreads
- Global Tech Outage Disrupts Industries, Highlights Online Risks
- Allstate Reports Second Quarter Pretax Catastrophe Losses of $2.1B
- SolarWinds Beats Most of SEC Lawsuit Over Russia-Linked Cyberattack
- Marsh McLennan Reports 8.7% Increase in Q2 Net Income
- Insurance Broker TWFG’s IPO Seeking $187 Million Gets Underway Today
- Study Urges Rethinking of Disaster Management in Era of Compounding Events
- Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re
- Russian Cybersecurity Firm Kaspersky Labs to Wind Down US Operations
- Coalition Asks FEMA to Make Wildfire Smoke, Extreme Heat Eligible for Disaster Funds
- FM Global Rebrands As FM
- Deere Retreats From Diversity Measures After Online Attacks
- BMW Recalling Over 1,100 More Vehicles Over Airbag Concern, NHTSA Says
- OPTIS: Insurance Agency M&A Reaches 4-Year, First-Half Low
- Squishmallows Maker Can Sue Build-A-Bear Over Alleged Plush Toy Knockoffs
- Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond
- Insurers Tied to Apollo, KKR Buy Mortgages Outright in New Twist
- Disaster-Struck Cities Fight for Aid as FEMA Funding Runs Low
- Occupational Healthcare Firm Concentra Eyes $3.3 Billion Valuation in IPO
- Buffett’s Berkshire Hathaway Sets, Closes at Record High
- Amazon Must Comply With EEOC’s Pregnancy Bias Probe, Judge Rules
- Progressive Q2 Net Income Skyrockets Over 320%
- People Moves: AIG Names Twiningdavis EVP, Chief Administrative Officer; Lopez joins CFC USA as Senior Executive Underwriter
- P/C Premium Growth Likely But Profits Delayed Until 2025: Forecast
- AIG Files Amended Suit Against Former Execs, Dellwood Insurance
- Dollar General to Pay $12M Penalty, Improve Safety
- Wall Street Pushes Back After Activists Escalate Protests
- Alphabet in Talks to Buy Wiz in $23 Billion Cyber Deal
- Hacker Says AT&T Paid About $400,000 to Erase Sensitive Data
- Report: Impact of BEC Attacks on US Companies Misunderstood
- A Troubling Phrase: ‘Just a Category 1 Hurricane’
- Project 2025 Plan to End NFIP Welcomed by Some, Rejected by Others in Insurance
- What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.
- Insurers Hike Rates as Extreme Storms Like Beryl Proliferate
- AT&T Says Data From Around 109M Customer Accounts Illegally Downloaded
- Conning Study: MGA Market Still Growing
- CBO Says Mortgage Subsidy Cost from Flood Damage to Hit $395M by 2053
- People Moves: AXA XL Appoints Madigan CUO for Mid-Market Environmental; Edsall Joins Tara Hill as SVP
- SpaceX Wins Block on Labor Board Case Over Severance Agreements
- Honeywell Defeats Fired Engineer’s Appeal Over Diversity Training
- Regulators Fine Citi $136M for Failing to Fix Longstanding Data Issues
- Damage From Hurricane Beryl May Cost Insurers $2.7B in US, $510M in Caribbean: KCC
- Elon Musk Beats $500 Million Severance Lawsuit by Fired Twitter Workers
- Biden Administration Raises FEMA Bar for Flood Resilience
- 3 People Killed by Faulty Replacement Air Bag Inflators in Last 9 Months: NHTSA
- Chubb Continues Promotion Spree in North American Operations
- People Moves: Gallagher Hires Eaton From Howden for US Cargo Role; Hartford Names Fish Head of Group Benefits, Bassett Global CUO and Head of Reinsurance
- Purdue Pharma Secures Litigation Ceasefire After Supreme Court Ruling
- Insurance Broker TWFG Aims to Raise Up to $176M in IPO
- Viewpoint: Premium Audits Help Insurers Navigate Regulatory Compliance
- Marsh McLennan Agency to Acquire The Horton Group
- CSU Research Team Increases Atlantic Hurricane Forecast
- Chubb Shakes Up North American Insurance Leadership
- NHTSA: Traffic Deaths Decrease Again in Q1 2024
- Purdue Pharma Backs Creditor Move to Sue Sacklers Over Assets
- Abbott Faces Trial Over Claims Preterm Infant Formula Caused Dangerous Disease
- Commercial Lines Not at Top of Cycle; ‘Thieves’ Fuel Social Inflation: CEOs
- Former USAA CEO Robles, 78, Dies
- ESG Investing Rule Presents Early Test on Limits of US Agency Powers
- Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
- Insurance Industry Impact From Hurricane Beryl Expected to Be ‘Manageable’
- The Battle Over J&J’s Bankruptcy Plan to End Talc Lawsuits
- To Insure or Self-Insure? The Question Homeowners Must Answer
- Crypto Hacking Thefts Double to $1.4B in First Half 2024
- GM to Pay $145.8M Penalty After US Finds Excess Emissions
- OpenAI’s Internal AI Details Stolen in 2023 Breach, NYT Reports
- Q2 2024 Personal Insurance Rates Up 7.6%: MarketScout
- As AI Gains Workplace Foothold, States Try to Make Sure Workers Aren’t Left Behind
- New-Vehicle Sales Growth Slows After CDK Cyberattack
- FTC Ban on Worker Noncompete Agreements Delayed by Judge
- How the Hot Water That Fueled Hurricane Beryl Foretells a Scary Storm Season
- Law Firms Smell Opportunity as Supreme Court Guts Agency Powers
- Life, Liberty, and the Pursuit of a Claims-Free Fourth of July
- Report: Medical Costs for Workers’ Comp Rose 11% Nationally
- US P/C Underwriting Results: Two Years in a Row Over $20 Billion in the Red
- Ryan Specialty Shuffling Continues; McCormack Named CEO of RT Specialty
- Supreme Court Rejects Challenge to Workplace Safety Agency
- Scientists Concerned That a Bird Flu Pandemic Is ‘Unfolding in Slow Motion’
- Beryl Becomes Earliest Ever Category 5 Hurricane in Atlantic
- Justice Department to Charge Boeing, Seeks Guilty Plea From Planemaker
- Wall Street’s Top Regulator Faces Worsening Battle in Wake of Supreme Court Ruling
- CDK Expects All Dealers to Be Live by Early July 4
- Markets/Coverages: Resilience Doubles Cyber Limits to $20M
- Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
- US Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
- US Roof Maintenance Lags: Hanover
- ‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
- CCC: Severe Weather Impacting Collision Repair, Auto Insurance
- Cancer Victims Lose Bid to Block Proposed J&J Talc Bankruptcy
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