Fire-Hit Tanker Enters Malaysia Terminal Area After Being Detained by Coast Guard
A tanker that was involved in a collision near Singapore last week entered the area of Malaysia’s Bertam floating oil terminal on Monday morning after it was intercepted by local authorities on Sunday, shipping data from LSEG and Kpler showed. …
Microsoft: About 8.5M of Its Devices Affected by CrowdStrike-Related Outage
A global tech outage that was related to a software update by cybersecurity firm CrowdStrike affected nearly 8.5 million Microsoft devices, Microsoft said in a blog post on Saturday. “We currently estimate that CrowdStrike’s update affected 8.5 million Windows devices, …
Stellantis Recalls 24,000 Chrysler Minivans for Fire Risks, Urges Outdoor Parking
Stellantis on Thursday recalled about 24,000 ChryslerPacifica plug-in hybrid minivans worldwide because of fire risks, and urged owners to park outside, away from structures. and not to recharge the vehicles pending a software update. Stellantis said the recall of 2017 …
Two Russian Men Plead Guilty in LockBit Ransomware Attacks
Two Russian nationals pleaded guilty to their roles in ransomware attacks in the US, Asia, Europe and Africa for a notorious hacking gang known as LockBit. Ruslan Astamirov and Mikhail Vasiliev admitted they helped to deploy the ransomware variant, which …
Former Postal Worker Sentenced to Probation for Workers’ Compensation Fraud
\A former U.S. Postal Service employee in Delaware who defrauded taxpayers of almost $100,000 in workers’ compensation benefits has been sentenced to probation. Lakisha Hines was sentenced Thursday after pleading guilty in March to one count of federal employee compensation …
Insurers Face Business Interruption Claims After Global Tech Outage
Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm CrowdStrike appeared to have triggered systems problems …
With American Mobile Cancellations, Florida Mobile Home Market Has ‘Fallen Apart’
Reinsurance in Florida’s long-stressed property insurance market was supposed to have stabilized this year – with moderate rate increases and more availability. But those calmer waters apparently have not reached the mobile home market, and Florida insurance agents are now …
New Jersey Group Eyes Insurance Surcharges, Oil Fees to Fund Resiliency Projects
A 2% surcharge on property insurance policies, mandatory fees on the oil and gas industries, and holding a public referendum are ways a public-private group formed in the aftermath of Superstorm Sandy recommends to pay for projects to protect New …
People Moves: Risk Strategies Names Bagwell Commercial Lines Leader in West
Risk Strategies named Troy Bagwell commercial lines leader for the West region. Bagwell, who is based in Los Angeles, is responsible for building and executing the regional strategy for the commercial property/casualty business segment. Bagwell joins Risk Strategies from Panorama …
Hurricane Beryl Caused Estimated $2-3B in Insured Losses to US Property: Verisk
Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the morning of …
Global IT Crash That Blocked 911 Calls and Grounded Planes Eases
In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrike have rolled out …
Tesla’s California Car Registrations Fall for Third Straight Quarter
Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry …
People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO
Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …
Why Texas Mass Power Outages Continue to Happen
It’s become a familiar cycle: A powerful storm sweeps through a swath of Texas and takes the electric system down in its grip. Trees might bend and topple, crashing down onto a power pole. Sometimes the weight of ice pulls …
Cargo Ship Sustains Damage After Houthi Attack in Gulf of Aden
A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage. Iran-aligned Houthis launched ballistic missiles and drones towards the …
Insurance Broker TWFG’s Shares Rise Nearly 30% in Market Debut
Insurance broker TWFG’s shares gained nearly 30% in their Nasdaq debut on Thursday, signaling strong investor demand for new stocks as the U.S. initial public offering market aims for a recovery. IPOs in the U.S. are attempting to stage a …
EPA Watchdog Investigates Delay in Using Specialized Plane After Ohio Derailment
The EPA’s Inspector General is investigating why the agency didn’t get its specialized plane loaded with advanced sensors into the air over East Palestine until four days after the disastrous Norfolk Southern derailment last year. The Associated Press reported on …
Flooring Manufacturer Fined $300K for Exposing Texas Workers to Safety Violations
While one of the nation’s largest manufacturers of commercial flooring and surfaces — including recycled rubber products used throughout the nation in playgrounds, fitness centers and sports fields — touts its products’ safety and environmental benefits, a U.S. Department of …
What Disruptions Have Been Reported After the Global Tech Outage?
A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported: AIRLINES, …
Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss
The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion. The New York-based insurer posted …