National News for October 2023
- Alliance of 40 Countries to Vow Not to Pay Ransom to Cybercriminals
- Bogus Claims Threaten to Taint Lejeune Payouts to Veterans
- SEC Sues SolarWinds for Concealing Cyber Risks Before Massive Hack
- FDA Advises Not to Use 26 Eye Drop Products Due to Infection Risk
- Progressive Groups Ask DOJ to Reverse New M&A Safe Harbor Policy
- 5 Brokers Report Strong Revenues During Q3 as Favorable Market Climate Continues
- US Probes GM’s Cruise Robocars Over Pedestrian Close Calls
- Biden Signs Sweeping Executive Order Regulating Artificial Intelligence
- CNA Returns to Black in Q3 With Net Income of $258 Million
- Insurtech Hippo Lays Off 20% of Employees
- Boeing Assessing Lockbit Hacking Gang Threat of Sensitive Data Leak
- Companies May Be Employers of Contract, Franchise Workers Under US Labor Rule
- Bayer Ordered to Pay $175 Million in Latest Roundup Cancer Trial
- Bankman-Fried Acknowledges ‘Mistakes’ But Testifies He Did Not Defraud Anyone
- The Hartford Q3 Income Jumps 93% on Commercial Lines Results
- Liberty Mutual Announces 850 Additional Layoffs
- Markets/Coverages: Liberty Launches National Private Client Practice Group
- IICF Celebrates Week of Giving
- Auto Claims Satisfaction Scores Are Up Despite Longer Repairs; Amica Tops List
- Amazon Injuries More Widespread Than Thought, Study Says
- Bankman-Fried Could Take Stand at Fraud Trial Over FTX Collapse
- EPA Proposes Banning Cancer-Causing Chemical TCE Used in Automotive Care
- Conservatives Challenging Nasdaq Board Diversity Rule Appeal to Full 5th Circuit
- How Safe Are Cockpits? Aviation Experts Weigh in After Recent Security Scare
- Chubb Q3 Net Income Increases 158% to $2 Billion
- Meta’s Instagram Linked to Depression, Anxiety, Insomnia in Kids: States’ Lawsuit
- Markets/Coverages: USQRisk Starts Corporate Cyber MGA
- Insurtech Startup QuoteWell Comes Out of Stealth With $15M in Series A Funding
- Ransomware Attacks Have Nearly Doubled Over 2022, Says Corvus
- Morningstar: Coastal Communities at Risk of Becoming Uninsurable
- Marsh Specialty Cyber Goes Global in 2024, Led by Reagan
- ‘Forever Chemical’ Bans Face Hard Truth: Many Can’t Be Replaced
- Arthur J Gallagher to Acquire Cadence Insurance for $904M
- Governments and Firms Should Spend More on AI Safety, Say Top Researchers
- People Moves: The Hartford Names Deane Chief Claims Officer; Hric Named Inshur’s Director of US Markets; Rokstone Appoints Nukk Head of Marine
- Report: More Founders Talking Cyber Protection With Stakeholders
- Viewpoint: Get Ready Now for the Soft Market (Because It’s Coming)
- Q3 Net Income Up 45.7% at W.R. Berkley as it Handles Unabated ‘Burn’ of Social Inflation
- American Family Shuts Down Some Systems to Investigate ‘Unusual Activity’
- Report: Young Driver Fatality Rates in the US Have Fallen Sharply
- US Justice Department Issues Subpoenas to Tesla in Ongoing Probes
- Report: ‘Climate-Exacerbated Wildfires’ Cost U.S. $394B-$893B Each Year
- Companies Grapple With the Fallout of Speaking Up About the Israel-Hamas War
- Inflation, Commercial Real Estate Among Top Financial Stability Concerns
- Software Firm Okta Discloses Cyber Breach
- Communities Can’t Recycle or Trash E-Cigarettes. So What Happens to Them?
- Fortress Has Plowed $6 Billion Into Other Companies’ Lawsuits
- GEICO Lays Off 6% of Workforce and Will Require More In-Office Time
- Insured Losses From Severe Convective Storms in US Top $50B for 1st Time: Aon
- Ransomware Criminals Aiming at Third-Party Vendors in Hunt for ‘Big Game’
- AIG’s CEO Sees Pandemic, Wars and Climate Change Among Biggest Risks
- Allstate Says Q3 Catastrophe Losses Were $1.2 Billion
- S&P: Struggles in Personal Auto Insurance to Subside Slower Than Expected
- The Hanover Expects $196M in Q3 Catastrophe Losses
- Markets/Coverages: Atlas General Announces Workers’ Comp Program With Sompo
- Risk Strategies, One80 Intermediaries Reorganize Under Accession Brand
- Appeals Court Upholds Nasdaq Board Diversity Rule
- J&J Weighs Third Bankruptcy Try to Settle Baby Powder Suits
- Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
- Commercial Fleet Insurtech Nirvana Secures $57M in Series B Funding
- Hamilton Insurance Group Files IPO Registration With SEC
- Markets/Coverages: Green Shield Introduces Specialty Homeowners Platform With INSTANDA
- Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s
- NHTSA Probes Pedestrian Risks at GM’s Self-Driving Unit Cruise
- Sam Bankman-Fried’s Lawyer Says FTX Investments Were Not ‘Reckless’
- Gallagher Acquires International Broker Clements Worldwide
- Private Health Data Still Being Exposed to Big Tech, Report Says
- People Moves: Bohm Head of US Capital Advisory at BMS Group; NIP Group Names Lindemann General Counsel; Stoik to Head Ascot Marine
- College Athletes Are Fighting for a Cut of Billions Generated in Media Rights Deals
- NHTSA Fines Zipcar for Uncompleted Recall Rentals
- Down, Down, Down….AM Best P/C Downgrades Outpacing Upgrades
- Viewpoint: Logic & Language, Forms & Facts – Revisiting Terrorism Issues
- US Plans to Push Other Countries Not to Pay Hacker Ransoms
- Kids Suing Social Media Over Addiction Find a Win Amid Losses
- Progressive Q3 Earnings Skyrocket as Combined Ratio Gets Closer to Goal
- Rite Aid Files for Bankruptcy Amid Rising Debt, Opioid Litigation
- 500K Vehicles Stolen in H1 2023; Dodge Chargers Top List
- Musk’s X Illegally Fired Worker Challenging Office Return; NLRB
- Ford Recalls Over 238,000 Explorers to Replace Axle Bolts
- Boardroom Clashes Most Likely Over Return-to-Office Policies
- Mercenary Hackers Stole Data Exxon Cited in Climate Lawsuits: US Prosecutors
- American Family Insurance Confirms Staff Reductions
- Insurers Prioritizing Profit Over Growth: Exec Survey
- Flooded Clinics, Embryo Mix-ups: The Risk Management of In Vitro Fertilization
- MGM Hackers Waited for Days Before Issuing Their Ransom Demands
- Summit: How Cannabis Brokers Can Get SMB Clients Better Insurance
- Google to Defend Generative AI Users From Copyright Claims
- Marsh McLennan Names Tomlinson President, Future CEO of Mercer
- Study: Most Commercial Auto Insurance Businesses Researching Telematics
- Summit: Big Picture Trends Driving Insuring Cannabis Conditions
- SEC Probes Twitter Security Lapse Before Elon Musk Took Over
- Despite Lower Premium Volume, U.S. Title Insurers Continue to Post Solid Results
- Internet Companies Report Biggest-Ever Denial of Service Operation
- AIG Makes Leadership Promotions for ‘Next Phase of Profitable Growth’
- Q3 Commercial, Personal Rates Moderate: MarketScout
- 23andMe Faces Class Action Lawsuit Following Data Breach
- Use of Weather Derivatives Surges as Extreme Climate Events Rock the Globe
- Insurance Executives Paid Millions in Compensation as Rates Skyrocket: CFA Findings
- Summit: Insuring Cannabis Specialists Talk Trends, Risks and Coverage Challenges
- 75% of Small Businesses Are Underinsured, Says Hiscox Survey
- Court OKs Mallinckrodt Restructuring, $1 Billion Cut to Opioid Settlement
- Hacker Puts 23andMe User Data Up for Sale on the Internet
- Most Homeowners Face Barriers to Improve Resiliency, Says APCIA Survey
- Truist in Talks to Sell Insurance Business for $10 Billion: Report
- Survey: Cyber Budgets, Insurance Premium Jump Across Sectors
- Middle-Market Companies Report Performance Improvements
- Summit: Cannabis Data A Key to Growing, Retaining Client Base
- Clorox Security Breach Linked to Group Behind Casino Hacks
- Tech Update: Re/Insurance Communications Platform ‘fuse’ Launches
- People Moves: Marsh Promotes Pellegrini to US, Canada Specialty Lead; CRC Group Announces Executive Leadership Appointments
- WCRI: 6% of COVID Claimants Treated for Long COVID
- US Regulators Push for Recall of 52 Million Air Bag Inflators
- Another Test Case for the Supreme Court: Who Can Sue Hotels Over Disability Access
- MGM Casino Expects $100 Million Hit From Hack That Led to Data Breach
- SEC Tries to Force Musk to Testify in Twitter Takeover Probe
- Climate Change Can Cause U.S. Households ‘Significant Financial Strain’
- Blackbaud to Pay States $49.5 Million to End Probe of 2020 Ransomware Incident
- Record Heat Unleashes Deadly Floods – From US to Libya
- Markets/Coverages: Coalition Exec Risk Insurance Now on Surplus Paper; ISO Adds 160 New BOP Classifications; MGU Verita Launches
- EV Industry Offers Challenges, Opportunities for Insurers
- Bankman-Fried Was ‘Math Nerd’ Who Overlooked Risk Management
- National Security Agency Is Starting an Artificial Intelligence Security Center
- As Trial Opens, FTX’s Bankman-Fried Battles Excess Insurer Over D&O Coverage
- Farmers, USAA Lead Pack in Hiking Homeowners Insurance Rates in 2023: S&P
- Elon Musk Must Face Fraud Lawsuit for Disclosing Twitter Stake Late
- Selective Insurance CFO Wilcox Resigns; Harnett Named Interim
- People Moves: Talkowski to Lead Nationwide Middle Market Commercial Lines Team; Showalter New Head of Client Experience at Hub Private Client
- NHTSA Expands Probe Into Ford Engine Failures to Include Nearly 709,000 Vehicles
- Commercial Auto Up Against Persistent Headwinds to Underwriting Profit
- AstraZeneca to Pay $425 Million to End US Lawsuits Over Heartburn Drugs
- Court Tosses $223.8M Verdict Against J&J in Talc Cancer Case
- Independent Agents Are Shopping Premiums Despite Record High Carrier Satisfaction
- Consumer Product Injuries Continue to Rise After Low in 2020
- People Moves: BHSI Promotes Meyer to Head of Product Liability, North America; Forte Named President of Berkley Public Entity
- McDonald’s, Wendy’s Defeat Lawsuit Over Size of Burgers
- Appeals Court Blocks Venture Capital Fund’s Grant Program for Black Women
- Microsoft CEO Says Tech Giants Battling for Content to Build AI
- US Supreme Court to Hear Warner Music Case on Limits to Copyright Damages
- Temporary Fix Keeps National Flood Insurance Operating but Only Until Nov. 17
- People Moves: Aspen Promotes Bianconi to Global Head of Cyber; WTW’s Corporate Risk & Broking Unit Taps Marsh’s Beldy Torborg for 2 Exec Roles
- Cigna Announces Settlement With US on Claims it Overcharged Medicare Advantage
- Don’t Expect the Same Raise You Got Last Year: Surveys
- Markets/Coverages: Vantage Risk Offers U.S. Pollution, Professional Liability Insurance for Environmental Risks
- Guess Board Agrees to Settle Co-Founder Marciano’s Harassment Case; Insurers Sued
- Homeowners Unprepared for Non-Weather-Related Water Damage: Report
- Many US Cities Vulnerable to Low Water Pressure Amid Wildfire Dangers
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