Russian Hackers Are Weaponizing Stolen Microsoft Passwords
A Russian state-sponsored hacking group that stole sensitive data from Microsoft Corp. executives is trying to leverage that information to compromise the company’s source code and other internal systems, according to the technology giant. The revelation makes clear that a …
Florida Jury Awards $32M Against Cleveland Clinic. Did ‘Changing Stories’ Play Role?
A Broward County jury has decided that the Cleveland Clinic Florida should pay almost $32 million to the estate of a man who was not put in intensive care after suffering septic shock and later died. The jury found the …
PE Firm Nordic Capital Weighs Sale of Regulatory Tech Firm Regnology: Sources
Nordic Capital is weighing a sale of German regulatory software firm Regnology, in a deal which could value the business at up to 3 billion euros ($3.27 billion), four people familiar with the matter told Reuters. The private equity firm …
Oil Sheen off California Possibly Caused by Natural Seepage From Ocean Floor
An oil sheen spotted off the Southern California coast last week was possibly caused by a natural seep from the ocean floor, but the exact source still isn’t known, U.S. Coast Guard officials said. Authorities detected the 2.5-mile-long oil sheen …
Kentucky House Passes Bill to Reduce Medically Trained Workers in Smaller Mines
FRANKFORT, Ky. (AP) — The Kentucky House voted Monday to allow the state’s smallest coal mining operations to reduce the number of miners with emergency medical training assigned for each underground shift. In a state once known as a coal …
Virginia Governor Faces Decision on Bad Faith Bill Opposed by Auto Insurers
Property/casualty insurers are urging Virginia Gov. Glenn Youngkin to veto a “bad faith” insurance claims measure that they contend will “open the floodgates of litigation against insurance companies” and raise motor vehicle insurance premiums for consumers and businesses in the …
Florida’s Heritage Insurance Reports Improved Bottom Line for Q4 and Year 2023
TAMPA, Fla. (AP) — Heritage Insurance Holdings Inc. (HRTG) on Monday reported earnings of $30.9 million in its fourth quarter, more than double what it saw in Q4 2022. The Tampa, Florida-based company said it had profit of $1.15 per …
Cancer Clinics Face Cash Crunch After Hack Rocks US Health Care
Doctors across the US are stretching to keep their practices afloat as a debilitating cyberattack on a once little-known company at the center of the health-care system continues to cause havoc. The Feb. 21 attack against Change Healthcare, a subsidiary …
Brown & Brown Acquires Assets of Northeast Dealer Services Firm, DealerMax
Insurance agency Brown & Brown announced that its dealer services division has acquired the assets of DealerMax. DealerMax, founded in 1982 by Jim Maxim, Sr. as Maxim Automotive, serves car dealer customers in Pennsylvania and throughout the Northeast offering finance …
Novatae Acquires UK-Based Broker Bretton Woods International
Novatae Risk Group announced that it acquired the Lloyd’s broker Bretton Woods International (BWI) of London. The transaction is subject to applicable regulatory approval and is expected to close before the end of the second quarter. Terms of the transaction …
Update: UK Insurer Direct Line Rejects Ageas’ Sweetened Buyout Proposal
Britain’s Direct Line said on Wednesday it had rejected a revised 3.17 billion pound ($4.06 billion) takeover bid from Belgian rival Ageas, repeating that it “significantly undervalued” the home and motor insurer. Direct Line, a household name in insurance in …
UK Is Far From Climate Proof Due to Poor Planning, Officials Say
The UK has failed to prioritize climate adaptation to risks such as floods and heat waves, putting British citizens and critical infrastructure in danger, an official assessment has found. A national adaptation plan, published last July, “falls far short of …
Tesla, Rivals Get Low Marks for Automated-Driving Technology
Tesla’s Autopilot and Full Self Driving technology and nine other assisted-driving systems marketed by major automakers received “poor” ratings from the U.S. Insurance Institute for Highway Safety in a new study released on Tuesday. The IIHS, a safety research arm …
Hedge Fund That Rode Catastrophe Bond Rally Mounts Tactical Retreat
A hedge fund that last year delivered its best result ever thanks to catastrophe bonds is now scaling back its position, based on a bet that the market is headed for a rough patch. Tenax Capital, which has a €100 …
US Natural Gas Pipeline Accidents Pose Big, Unreported Climate Threat
Last October, an Idaho farmer using a backhoe punched a hole into a 22-inch pipeline buried under a field, sending more than 51 million cubic feet of natural gas hissing into the air. While the incident on Williams Companies’ Northwest …
Would-Be Everton Owner 777 Partners Faces Lawsuit Over Asset Transfers
The investment manager trying to buy Everton FC is being sued by a creditor who wants to stop the firm from transferring two subsidiaries, claiming that the transaction was designed to “shield” the assets. Obra Capital said in a New …
Oxendine’s Georgia Fraud Trial Must Finally Start April 15, Federal Judge Says
A former Georgia insurance commissioners’ efforts to dismiss insurance fraud and money laundering charges against him have run their course. John Oxendine must face trial starting April 15, a federal judge has decided. A pretrial conference is set for March …
How 9 Men Stole 45 Cars Over 6 Months During COVID, Then Got Caught
New York Attorney General Letitia James has announced the guilty pleas and sentencing of nine members of a Bronx car theft ring for their roles in the theft of 45 vehicles during a six-month period from April to October 2020. …
$12.6M in Aid Delivered to San Diego County Communities
To aid recovery efforts in San Diego County following the January storms, FEMA, the California Governor’s Office of Emergency Services and local partners continue to work together to bring relief to affected communities. In just three weeks since Gov. Gavin …
People Moves: California Insurance Commissioner Lara Announces Appointments, Reappointments to Boards and Committees
California Insurance Commissioner Ricardo Lara appointed new members and reappointed members to several state insurance boards and committees. New appointments include Ronald Coleman Baeza to the California Life and Health Insurance Guarantee (CLHIGA) Board of Directors, and Samantha Tradelius to …