Cyber catastrophe bonds may be about to move out of the shadows of private deal-making and into the public debt markets. So-called cat bonds, which farm out hard-to-insure risks to capital market investors in exchange for double-digit returns, have typically …
The notorious hacking gang Lockbit has posted what it described as documents belonging to Boeing Co. on its website, two weeks after claiming credit for a cyberattack against the aircraft manufacturer. LockBit recently posted the documents on the dark web …
A hacking group linked to Russia claimed responsibility for attacks that periodically forced OpenAI’s ChatGPT offline last week, saying it targeted the company due to its support of Israel. The group, which calls itself Anonymous Sudan, said in a post …
Several major U.S. business groups sued a federal labor board on Nov. 9, seeking to strike down a rule treating many companies as employers of contract and franchise workers and requiring them to bargain with their unions. The groups led …
Liberty Mutual Holding Co. on Thursday reported third quarter net income of $219 million, reversing a loss of $353 million a year ago during the same time. “Solid underwriting results in our Global Risk Solutions business and the tailwind from …
Cruise is recalling 950 driverless cars from the roads across the United States following a crash involving one of its robotaxis and will likely issue more recalls, General Motors’ self-driving unit said. The cars are being recalled because the collision …
Applied Underwriters has launched a new holding company called “United Risk,” which brings together the company’s MGA and MGU businesses under a single brand. Former SiriusPoint executive Dan Malloy has been named CEO of the new unit. “Under Dan Malloy’s …
Several days after he was found guilty of one of the biggest financial frauds on record, FTX founder Sam Bankman-Fried dropped an insurance coverage lawsuit against excess insurance company Continental Casualty Co. Shortly before his trial began in early October, …
More than half of the U.S. and parts of Canada, home to around 180 million people, could fall short of electricity during extreme cold again this winter due to lacking natural gas infrastructure, the North American Electric Reliability Corp (NERC) …
An increase in serious near-miss aviation incidents is a “clear warning sign that the U.S. aviation system is sharply strained,” National Transportation Safety Board (NTSB) chair Jennifer Homendy will tell a U.S. Senate panel on Thursday. Homendy, who will testify …
