Orion180 Launches Homeowners Insurance in Ohio
Orion180 has announced its expansion into the Buckeye State. According to a press release, the company now offers homeowners insurance services and coverage in Ohio through Orion Select Insurance Co., Orion180’s admitted insurance carrier. Orion180 also operates in Alabama, Arizona, …
Hong Kong Hits AIA With Record Fine for Anti-Money Laundering Lapses
AIA Group Ltd. was subject to a record fine of HK$23 million ($2.9 million) by the Insurance Authority for anti-money laundering oversight, as the city’s regulators steps up scrutiny of the industry. An on-site inspection by the regulator found “technical …
Tesla Registers Insurance Brokerage in China, National Corporate Database Shows
Tesla registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products in the …
Suspected Chinese Hackers Hit Taiwanese Research Center
A hacking group believed to be linked to the Chinese government stole passwords and documentsfrom a Taiwanese government-affiliated research center that specializes in computing, cybersecurity researchers at Cisco Systems Inc. said Thursday. The attackers used a kind of malicious software …
BNP Paribas in Talks to Buy AXA Investment Managers for €5.1 Billion
BNP Paribas is in exclusive talks with French insurer AXA to buy 100% of its AXA Investment Managers arm at an agreed price of 5.1 billion euros ($5.50 billion), the euro zone’s biggest bank said on Thursday. For BNP, such …
Microsoft Azure Attack Shows Persistence of Blunt Hacking Tool
The recent outage on Microsoft Corp.’s cloud-computer platform demonstrated the persistence of an older, blunt-force style of cyberattack. It’s called a distributed denial-of-service attack, DDoS for short, and it works by directing massive amounts of junk internet traffic at a …
‘Impossible’ Weather Increasingly Blamed on Climate Change
Today may be the day when the impossible becomes possible—based on the number of headlines in recent days saying pretty much that. A slew of recent articles this week focus on studies and research reporting on how unlikely the weather, …
Apple Asks Judge to Toss Antitrust Lawsuit
Apple on Thursday asked a U.S. judge to dismiss a lawsuit by federal and state antitrust regulators accusing it of illegally monopolizing the smartphone market, saying the case would have a judge redesign its popular iPhone. The Justice Department, 19 …
Technology’s Grip on Modern Life Pushing Us Down a Path of Digital Land Mines
“Move fast and break things,” a high-tech mantra popularized 20 years ago by Facebook founder Mark Zuckerberg, was supposed to be a rallying cry for game-changing innovation. It now seems more like an elegy for a society perched on a …
Tennessee DCI Returns $9.5M to Policyholders in Mediated Claims Disputes
The Tennessee Department of Commerce and Insurance so far this year has secured more than $9.5 million for policyholders whose insurance claims had been denied, the department announced this week. The payments, mostly from property insurers, are the result of …
OSHA Cites Construction Company in Deadly Idaho Airport Hangar Collapse
Federal safety investigators cited a construction company in the deadly collapse of an Idaho airport hangar, saying it exercised a “blatant disregard” for federal safety standards. The Occupational Safety and Health Administration proposed nearly $200,000 in penalties for Big D …
Judge Ends Uber Black Drivers’ ‘Futile’ Court Quest for Employee Status in Pennsylvania
Eight years of litigation, multiple court opinions, and two deadlocked trials are enough. A federal judge in Pennsylvania has put an end to what he says is “futile” litigation over whether Uber Black drivers, who drive luxury cars and charge …
Oil and Gas Power Lines Suspected of Causing Texas Panhandle Wildfires
When a spate of wildfires tore across the Texas Panhandle in February and scorched 20,000 acres of Craig Cowden’s ranch near Skellytown, he decided he had had enough. Cowden took on a second unofficial job: looking for possible fire hazards …
People Moves: JM Wilson Adds and Promotes Transportation Underwriting Team Members
JM Wilson, headquartered in Portage, Michigan, added new members to its transportation underwriting team. Olga Jaquet was promoted to senior transportation underwriter, responsible for underwriting new and renewal commercial transportation risks and working with carrier underwriters and independent insurance agents …
Howden to Acquire Allianz UK’s Musical Insurance Book
Howden, the global insurance intermediary group, today announces that it has agreed to acquire the Musical Insurance book from Allianz UK and will incorporate its customer base and marketing and operations teams into Howden’s established music scheme, Lark Music. Financial …
Markets/Coverages: Coalition Introduces Active Cyber Insurance in Germany
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced the launch of its Active Cyber Insurance in Germany through its subsidiary, Coalition Insurance Solutions GmbH. Coalition’s offerings became available on Aug. 1, 2024. Cyberattacks and IT system …
UK Financial Firms Spur IPO Optimism as Europe Rebound Stutters
Potential initial public offerings by a slew of UK financial services firms could drive the next stage of Europe’s recovery after momentum in new listings slowed sharply. Such hopes have arisen after Bloomberg reported that backers of Canopius Group are …
Arch Completes Acquisition of Allianz’s U.S. MidCorp and Entertainment Businesses
Arch Insurance North America it has closed the acquisition of the U.S. MidCorp and Entertainment insurance businesses from Allianz. Nearly 500 former Allianz MidCorp and Entertainment employees have joined Arch and will provide continuity to clients and brokers as Arch …
Ardonagh’s Geo Underwriting to Buy Navigators & General From Zurich UK
Geo Underwriting, the managing general agency and subsidiary of Ardonagh Advisory, announced it will acquire Navigators & General (N&G) from Zurich UK. Financial details of the deal were not disclosed. Founded in 1921 by Captain William Coombs, a merchant navy …
District of Columbia Sues StubHub Claiming It Inflates Ticket Prices With Deceptive Fees
The attorney general for Washington, D.C., sued StubHub on Wednesday, accusing the ticket resale platform of advertising deceptively low prices and then ramping up prices with extra fees. The practice known as “drip pricing” violates consumer protection laws in the …