People Moves: Across American Names Barr CFO/CTO; Sobel Joins Aspire in California
Barr Named CFO/CTO at Across America Insurance Leah Barr joined commercial transportation insurance wholesaler Across America Insurance, headquartered in Riverside, Calif., as chief financial and technology officer. A 20-year insurance industry veteran, Barr was previously technology manager in the premium …
Lubbock, Texas to Vote on Marijuana Despite Attorney General Lawsuit
LUBBOCK — An effort to decriminalize possession of small amounts of marijuana in Lubbock is moving forward, despite Texas Attorney General Ken Paxton suing five cities this week for doing the same. Lubbock Compact, the organization behind the proposed initiative, …
Chicago Children’s Hospital Forced to Take Networks Offline After Cyberattack
CHICAGO (AP) — A Chicago children’s hospital has been forced to take its networks offline after an unspecified cyberattack, limiting access to medical records and hampering communication by phone or email since the middle of last week. The situation at …
People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting
Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and Virginia, effective Feb. 12. Welch has 17 years of experience in the …
People Moves: Gonzales joins Marsh as Houston Energy Hub and Office Leader
Marsh, a business of Marsh McLennan headquartered in New York, announced today that Susan Gonzales has joined the firm as its Houston energy hub and office leader. In this dual role, Gonzales will lead a team of more than 70 …
Muddy Waters Shorts Canada Insurer Fairfax Financial, Alleging Asset Value Manipulation
Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial alleging manipulation in its asset values. Shares of the property and casualty insurer sank 12% on Thursday, and set for their worst drop since Sept. …
Supreme Court in UBS Case Makes it Easier for Whistleblowers to Win Suits
The U.S. Supreme Court on Thursday made it easier for financial sector whistleblowers to win lawsuits accusing companies of unlawfully firing them as retaliation for disclosing wrongdoing, rejecting a bid by Switzerland’s UBS Group to impose a higher bar. The …
NC Postal Worker Pleads Guilty to Comp Fraud After Photos Show Him Ziplining
A 73-year-old postal worker pleaded guilty this week to more than $100,000 in workers’ compensation fraud after social media postings showed him engaged in rigorous physical activity, including ziplining at Niagara Falls. Johnnie Franklin Sullivan Sr., of Mooresville, North Carolina, …
Markets/Coverages: Corvus Expands Tech E&O; K2 OCONUS Workers Comp for Government Contractors; Xceedance’s MGA Agility Suite
Corvus Insurance introduced a newly expanded Tech E&O product with an enhanced appetite backed by Travelers. Smart Tech E+O from Corvus provides creative risk solutions for technology businesses across the spectrum of size and complexity, including primary and excess policies. …
People Moves: WIND Network Names New Officers, Board Members
The Windstorm Insurance Network, known as WIND, a continuing education organization for adjusters, appraisers and other claims professionals, has installed new officers and board members after its annual conference in Orlando. Wayne Taylor, a plaintiffs’ attorney with Mozley, Finlayson & …
Construction Worker Killed When Foundation of House Being Waterproofed Collapses
The partial collapse of a house foundation was the apparent cause of the death of a 51-year old construction worker in Hanson, Massachusetts on Wednesday morning. The worker, Gerceir Osvaldo DeFaria, was pronounced dead on the scene, according to Plymouth …
Two Years After Deadly Tornadoes, Some Kentucky Families Still Waiting for Housing
MAYFIELD, Ky. (AP) — Ashley Prince and her family have been chasing “normal” for years now. Two years ago, the tornado that whipped through Mayfield peeled the roof off their rental property “like a band-aid.” She and her fiance Dylan …
Mother of Teen Killed at Mississippi Poultry Factory Sues Company for Negligence
(AP) — The mother of a 16-year-old who died in a workplace accident at a Mississippi poultry factory is suing the companies that hired and employed him, accusing them of failing to follow safety standards that could have prevented his …
January Was World’s Hottest on Record: EU Scientists
The world just experienced its hottest January on record, continuing a run of exceptional heat fueled by climate change, the European Union’s Copernicus Climate Change Service (C3S) said on Thursday. Last month surpassed the previous warmest January, which occurred in …
Chinese Hacking Campaign Aimed at Critical Infrastructure Goes Back 5 Years
An advanced group of Chinese hackers taking aim at U.S. critical infrastructure have been active for as long as half a decade, American and allied intelligence agencies said in a joint statement on Wednesday. The U.S. National Security Agency, U.S. …
AXA’s CEO Buberl Wants to ‘Scale Up’ Corporate Business
AXA SA’s Chief Executive Officer Thomas Buberl says he intends to “scale up” the firm’s business insuring corporate risks in the next phase of the firm’s growth. “In a highly volatile and highly unpredictable environment it is important to take …
Money Managers Try to Put a Price on Climate Risk. It’s Not Easy.
When investors contemplate risk, it’s straightforward to think about measurable economic shifts like rising interest rates, inflation and sales trends. The data are readily available and simple enough to incorporate into financial models. The looming risks from climate change, on …
US, UK Ship Investors Hit by Soaring Red Sea Insurance: Sources
War underwriters have raised the premiums they charge to US, British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …
Company Auditors Face More Rigorous Role in Spotting Fraud: Global Body
Accountants must play a role in spotting fraud when they check the books of companies, a global standard setting body for corporate auditing said in robust proposals Feb 6. The International Auditing and Assurance Standards Board (IAASB), which writes norms …
US Court Cancels Approvals for Widely Used Dicamba Weedkillers
A U.S. court has nullified the government’s latest approvals of certain agricultural weedkillers sold by Bayer, BASF and Syngenta, fueling uncertainty among farmers who spray the products on genetically engineered soybeans and cotton. Environmental activists cheered the court for halting …
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