National News

Insurtech Root Inc. Results Improve but Remain at a Net Loss

Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and …

That’s Gonna Leave a Mark: Large-Hail Days Hit Two-Decade High in 2023

Hail of two inches or greater struck the United States on 141 days last year — the highest number of annual days in two decades, according to a new CoreLogic report. Severe convective storms generated “an unprecedented amount of insured …

Cyber MGA Coalition Predicts Common Vulnerabilities to Increase 25% in 2024

Cyber insurance provider Coalition said it expects the total number of common vulnerabilities and exposures (CVEs) to increase by 25% in 2024 to 34,888 vulnerabilities, or roughly 2,900 per month. The insurtech’s Cyber Threat Index 2024 detailed cybersecurity trends from …

Russia’s LockBit Disrupted But Not Dead, Hacking Experts Warn

Two arrests. Twenty-eight servers seized. And 1,000 decryption keys obtained that can help hacking victims worldwide get their data back. The takedown announced Tuesday of the Russia-linked hacking gang LockBit, which by some estimates has been responsible for a quarter …

Insurers’ LNG Support at Odds With Their Climate Ambition, Report Says

The underwriting of liquefied natural gas (LNG) capacity in the US by major global insurers is at odds with their climate ambition, according to a report from activist groups including Public Citizen and Rainforest Action Network. Chubb, American International Group …

Aon-NFP Deal Clears Antitrust Hurdle

Aon’s proposed $13.4 billion acquisition of NFP passed a regulatory waiting period Feb. 21, the companies said. While the acquisition is still subject to other regulatory and closing conditions, it has cleared the 30-day waiting period under the Hart-Scott-Rodino Antitrust …

‘AI Godfather’, Others Urge More Deepfake Regulation in Open Letter

Artificial intelligence experts and industry executives, including one of the technology’s trailblazers Yoshua Bengio, have signed an open letter calling for more regulation around the creation of deepfakes, citing potential risks to society. “Today, deepfakes often involve sexual imagery, fraud, …

People Moves: Lockton Names Goldenberg Executive Vice President, Operations; Elder Promoted to Global CUO, Specialty at AXA XL

Lockton, headquartered in Kansas City, Missouri, named Steve Goldenberg executive vice president, operations. He will be based in Kansas City and lead strategic initiatives, recruit talent, and build innovative solutions. Goldenberg joins Lockton from Aon where he held several senior …

Biden Seeks to Bolster Port Cybersecurity With Executive Order

President Joe Biden will sign an executive order designed to implement new cybersecurity requirements for the nation’s port owners and operators amid growing concerns that hackers could roil crucial supply chains. The order will give the US Coast Guard new …

Lockbit Hackers’ Swagger on Display After Police Leak Identities Online

One of the world’s biggest criminal hacking gangs woke up on Tuesday to a startling discovery: Law enforcement, after taking over their main website on Monday, were now threatening to reveal their personal details and data about their cybercrime organization. …

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