A U.S. appeals court upheld Nasdaq’s board diversity rule on Wednesday, requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not. In a lengthy opinion, the New Orleans-based 5th …
Johnson & Johnson said it is weighing a third attempt to use bankruptcy for an $8.9 billion settlement of tens of thousands of lawsuits that allege tainted talc in the company’s baby powder caused cancer. Erik Haas, J&J’s lawyer in …
Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly results, New York-based Travelers said it …
Nirvana Insurance announced a $57 million Series B funding round with Lightspeed Venture Partners investing again to lead the round, and additional participation from General Catalyst and Valor Equity Partners. The new funding positions San Francisco-based Nirvana to make substantial …
Hamilton Insurance Group Ltd., the Bermuda-based special re/insurer, announced it has filed a registration statement with the US Securities and Exchange Commission, relating to a proposed initial public offering of its common shares. Hamilton intends to apply to list the …
Chicago-based Green Shield Risk Solutions has announced the introduction of its specialty homeowners insurance platform built with INSTANDA. Brought to market in just over 90 days, the platform enables quoting, binding and management of affluent homeowners’ insurance in catastrophe-prone states. …
A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according to research from Lloyd’s and the Cambridge Centre for Risk Studies. While …
U.S. auto safety regulators on Tuesday opened a probe into whether General Motors’ self-driving unit Cruise is taking sufficient precautions with its autonomous robotaxis to safeguard pedestrians. The National Highway Traffic Safety Administration (NHTSA) said it has received two reports …
FTX founder Sam Bankman-Fried’s lawyer on Tuesday said the now-bankrupt cryptocurrency exchange’s investments were not “reckless and frivolous,” pushing back against testimony by a former executive who called its spending on marketing and celebrity endorsements excessive. Nishad Singh, FTX’s former …
Global insurance broker Arthur J. Gallagher & Co. announced the acquisition of Washington, D.C.-based Clements Worldwide. Clements is an international insurance broker serving expats, diplomats and military personnel as well as offering commercial coverages for nonprofits, contractors, embassies and schools. …
