Monthly Archives: <span>September 2020</span>

Moody’s Says Property/Casualty Insurers Face Significant Losses from Western Wildfires

Dozens of wildfires raging in California, Oregon, Washington and other Western states have resulted in loss of life, damaged or destroyed about 9,657 homes and commercial structures and burned more than 5 million acres, according to the National Interagency Coordination …

Bayer Settles More U.S. Claims Over Weedkiller Roundup

Bayer AG has settled thousands of U.S. Roundup weed killer lawsuits as part of an $11 billion settlement, reaching deals with the only lawyers who took cases to trial over allegations the herbicide caused cancer. In letters filed with U.S. …

Sompo’s Davis Named President of Canopius USA as It Eyes Expansion

Specialty insurer Canopius Group has appointed Lisa Davis to the new position of president and chief underwriting officer of Canopius USA, effective October 1. Davis joins Canopius from Sompo America Insurance Services, where she has served as executive vice president, …

Slowness, Not Speed, of Hurricanes Like Sally Becoming Major Concern

For Grant Saltz, who runs a barbecue restaurant in Mobile, Alabama, what struck him about Hurricane Sally was its steady, deliberate pace, after the storm rumbled into the U.S. Gulf Coast on Wednesday as a powerful Category 2 hurricane. “It’s …

U.S. Prosecutors Charge 7 in Alleged Multi-Target Chinese Hacking Scheme

The U.S. Justice Department said on Wednesday it has charged five Chinese residents and two Malaysian businessmen in a wide-ranging hacking effort that encompassed targets from video games to pro-democracy activists. Federal prosecutors said the Chinese nationals had been charged …

Rental Car Company to Pay $80K in Penalties, Implement Reforms Over Fraud Allegations

A discount car rental company operating out of Newark and JFK Airports has agreed to pay $80,000 in penalties, enter binding arbitration to resolve consumer complaints and change its policies and practices following New Jersey Attorney General Gurbir S. Grewal …

Arcadian Risk Starts New Underwriter in Bermuda With Third Point Re Backing

Arcadian Risk Capital is launching as a new underwriting operation based in Bermuda that will initially underwrite excess casualty and professional lines insurance. Arcadian said it has received its license from the Bermuda Monetary Authority and will operate as a …

Blackstone Joins Brit’s Parent Fairfax in Investing in Lloyd’s Digital Venture Ki

Digital Lloyd’s syndicate Ki reported that it has raised US$500 million from funds managed by Blackstone Tactical Opportunities and Fairfax Financial Holdings, parent of specialty insurer Brit that is behind Ki. Ki said the capital commitment will fund its expansion …

How Spain’s COVID Tracing App Navigates Europe’s Privacy Protections

“What does RadarCOVID not do?” a promotional video for Spain’s contact-tracing app asks. The answer: while navigating the country’s decentralized healthcare system, it does not locate users, identify them, record personal details, or send data. Without a vaccine or a …

Soccer Star Messi Scores Trademark Victory Over Massi in EU Court

Barcelona and Argentina captain Lionel Messi has won a legal battle over trademark rights relating to his own logo after the European Union’s top court on Thursday dismissed an appeal against the player from a Spanish cycling clothing brand. The …