Technology’s Grip on Modern Life Pushing Us Down a Path of Digital Land Mines August 2, 2024 By Michael Liedtke “Move fast and break things,” a high-tech mantra popularized 20 years ago by Facebook founder Mark Zuckerberg, was supposed to...
Arch Completes Acquisition of Allianz’s U.S. MidCorp and Entertainment Businesses August 1, 2024 Arch Insurance North America it has closed the acquisition of the U.S. MidCorp and Entertainment insurance businesses from Allianz. Nearly...
Appeals Court Tosses Appian’s $2 Billion Verdict Against Pegasystems August 1, 2024 By Blake Brittain Software company Pegasystems convinced a Virginia appeals court on Tuesday to throw out a $2 billion jury verdict for rival...
CBIZ to Acquire Accounting Firm Marcum in $2.3 Billion Deal August 1, 2024 Financial services and insurance provider CBIZ said on Wednesday it would buy Marcum, one of the biggest accounting services providers...
PFAS Liability for Water District Remediation Costs Estimated Up to $175B August 1, 2024 Economic liability associated with the remediation of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in U.S. water districts is estimated to be...
CrowdStrike Is Sued by Shareholders Over Huge Software Outage August 1, 2024 By Jonathan Stempel CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing...
AIG’s Repositioning Affects Q2 Earnings; Underlying Underwriting Income Up 2% August 1, 2024 By Chad Hemenway The formal split of its life and retirement business Corebridge Financial resulted in a second quarter net loss of nearly...
Verisk’s PCS Classifies CrowdStrike Incident as a Cyber Catastrophe July 31, 2024 By Chad Hemenway Verisk’s Property Claim Services unit confirmed reports it has designated the recent global information technology outage as a cyber catastrophe...
Bain Capital Insurance Backs Specialized Risk Financing Firm 1970 Group July 31, 2024 Bain Capital Insurance has announced a capital investment in 1970 Group, a New York-based specialized risk financing provider to the...
Extreme Weather Sends Insured Losses 70% Above Historical Norms July 31, 2024 By Stephan Kahl Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70% above the...