As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …
Reinsurance brokerage BMS Group announced the appointment of Gregg Holtmeier as chief strategy officer of its U.S. reinsurance operations. With 20 years’ experience in the reinsurance markets, Holtmeier joins BMS from Guy Carpenter, where he was most recently managing director …
Health insurer Cigna Corp. said on Thursday it had introduced a plan to fully cover costs for expensive gene therapies, eliminating any out-of-pocket payments for customers. Gene therapies, which in general aim to treat diseases by manipulating genes at a …
Root Insurance, which uses smartphone technology to gauge driver behavior and price policies, said it has raised $350 million in Series E funding. Root has now raised a total of $523 million in funding, with an additional $100 million in …
The introduction of a bike share program in Pawtucket, R.I., has been put on hold. Pawtucket Police Chief Tina Goncalves said Wednesday that the Jump electric bike program will not begin this year. Jump is owned by ride-hailing service Uber. …
The U.S. Federal Trade Commission said on Friday that it had filed an administrative complaint aimed at preventing title insurance provider Fidelity National Financial, Inc. from buying rival Stewart Information Services Corp. The FTC valued the deal at $1.2 billion. …
A Massachusetts mayor says hackers demanded $5.3 million from his city in a ransomware attack this summer. New Bedford Mayor Jon Mitchell disclosed Wednesday that a variant of the Ryuk virus blocked access to information on 158 city computers in …
Unlicensed labor broker Salvador Almonte Jr. and insurance broker Steven Asvazadourian have been indicted in New York for an insurance fraud scheme in which they underreported the size of Almonte’s companies and lied to insurance carriers about the work being …
China’s banking and insurance regulator put a cap on Monday on how much insurance firms can invest in their shareholders, aiming to curb risks linked to the misuse of financial resources. China is sharpening its scrutiny of insurers’ and small …
Guy Carpenter & Co., LLC, the global risk and reinsurance specialist and a wholly owned subsidiary of Marsh & McLennan Cos., announced that David Priebe has been appointed to the role of chairman, effective immediately. Priebe will continue to report …
