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India Approves More Russian Insurers to Provide Marine Cover
India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market. India is the top …
POSTED MAY 13, 2025 12:28 PM |
Global Banking Regulators Agree to Prioritize Climate Risk Work
Global banking regulators on Monday agreed to intensify efforts to better understand the financial risks posed by climate change amid pushback from the United States. The oversight body of the world’s forum for banking regulators met on Monday to take …
POSTED MAY 13, 2025 11:59 AM |
Markets/Coverages: MGA Pen Launches Enhanced Cyber Risk Management Platform
Pen Underwriting, the London-based managing general agent, has invested in a new cyber protection platform called “Pen Protect,” which aims to equip all its cyber policyholders around the world with an exclusive, enhanced, integrated suite of risk management tools and …
POSTED MAY 13, 2025 11:39 AM |
People Moves: Everest Promotes Mesagaes to Reinsurance Head of Renewable Energy; Westfield Specialty International Taps Arch’s Poulteney and Kailia for Offshore Energy
Everest Promotes Mesagaes as Reinsurance Head of Renewable Energy Everest Reinsurance, the reinsurance division of Everest Group Ltd., announced that Jonathan Mesagaes has been named head of Renewable Energy. He will report to John Hyland, head of Underwriting and Marine, …
POSTED MAY 13, 2025 10:59 AM |
German Reinsurers Report Q1 Profits Down Sharply on Los Angeles Wildfire Claims
Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp declines in first-quarter profit on Tuesday after a combined 1.7 billion euros ($1.89 billion) in claims relating to the Los Angeles wildfires this year. The wildfires killed nearly 30 people …
POSTED MAY 13, 2025 10:09 AM |
Marks & Spencer Says Hackers Have Stolen Some Customer Data
Marks & Spencer Group Plc said some personal customer data was stolen by hackers as the British retailer continues to investigate and manage a highly-damaging “cyber incident.” The stolen data does not include “useable payment or card details” and there …
POSTED MAY 13, 2025 8:52 AM |
FM Clients to Receive Share of $1 Billion in ‘Membership Credits’
Commercial property insurer FM announced an enhanced $1 billion membership credit for eligible mutual policyholders, allowing client-owners to receive more credit sooner. Johnston, Rhode Island-based FM said May 5 that with this year’s credit, FM will have returned more than …
POSTED MAY 13, 2025 6:00 AM |
SEC Chair Says Agency Plans to Create New Rules for Crypto Tokens
Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency’s cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities and consider whether additional …
POSTED MAY 13, 2025 5:11 AM |
Appeals Court: Florida Deputy Used Excessive Force and is Not Immune from Suit
A Sarasota County sheriff’s deputy used excessive force on a handicapped, 100-pound driver in 2020 and is not entitled to immunity from lawsuits, a federal appeals court ruled in a case that could affect officers’ insurance coverage in similar cases. …
POSTED MAY 13, 2025 5:01 AM |
Labor Department Suing USPS Over Fired Texas Worker Who Reported Injury
The U.S. Department of Labor has filed a lawsuit against the U.S. Postal Service for what it says is the wrongful termination of an employee who fell while delivering mail and reported the work-related injury. An investigation by the department’s …
POSTED MAY 13, 2025 5:00 AM |
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