Billionaire SPAC Kings Dragged to Court After Boom Goes Bust June 2, 2023 By Bailey Lipschultz The unwinding of the blank-check stock frenzy, one of the hottest pandemic-era trends on Wall Street, is playing out its...
NHTSA to Require Auto Braking on New Vehicles and Set Tougher Standards June 2, 2023 By Tom Krisher The U.S. government’s auto safety agency plans to require that all new passenger cars and light trucks include potentially life-saving...
FEMA Hit by Multi-State Lawsuit Over Flood Insurance Rating Formula June 2, 2023 By Ezra Amacher A federal lawsuit claims FEMA failed to take into account skyrocketing flood insurance costs generated by its new rating system,...
People Moves: Everest Appoints Maritzen Global CUO; Swearengin to Lead One80 National Casualty Practice; Haggerty Head of QBE NA Commercial Programs June 2, 2023 Everest Insurance Appoints Maritzen Global Chief Underwriting Officer Everest Insurance, the insurance division of Everest Re Group, Ltd., has named...
New Models Aim to Better Predict Storm Surge, Insured Losses From Hurricanes June 2, 2023 By Insurance Journal Staff Reports Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may...
Climate Change, Wildfire Risk and State Farm’s California Decision June 1, 2023 By Don Jergler Several reasons were given within State Farm’s announcement last week the carrier was no longer writing new personal or business...
About 33 Million U.S. Homes at Risk of Hurricane-Force Winds: CoreLogic June 1, 2023 According to an analysis by CoreLogic, about 33 million U.S. homes with a combined reconstruction cost value of $11.6 trillion...
Former Wells Fargo Exec Settles SEC Fraud Charges, to Pay $3M June 1, 2023 The former head of Wells Fargo & Co’s WFC.N retail bank agreed to pay a $3 million penalty to settle...
Ransomware Attack on Bioscience Firm Exposes Clinical Test Data on 2.5M People June 1, 2023 The New York-based biotech and life sciences company Enzo Biochem reported it was hit by a ransomware attack on April...
Markets/Coverages: W. R. Berkley Corporation Forms Berkley Specialty Excess June 1, 2023 W. R. Berkley Corporation said it has formed Berkley Specialty Excess to offer excess liability coverages in specialized markets, with...