Hyundai Motor Co. and Kia Corp. were sued on Friday by drivers who claimed a defect in their vehicles’ anti-lock brake systems could trigger fires. The proposed class action filed in the federal court in Santa Ana, California, followed the …
Washington state regulators found more than 600 safety and procedural violations by school bus carrier First Student in the past two years, dozens of which persisted for years after company officials were warned of the infractions. The Seattle Times reported …
One of the oldest Roman Catholic dioceses in the U.S. is suing four insurance companies over claims that they haven’t fulfilled contracts to provide liability coverage for sexual abuse complaints. The Archdiocese of Santa Fe filed the lawsuit this week …
It’s more bad news for Dollar General stores, one of the largest food and household goods retailers in the country. Federal safety regulators announced that they have added another $1 million in fines against the company after inspections at stores …
Integrated risk management software provider Riskonnect reports it has acquired the Sword GRC, a UK-based software company that specializes in project and enterprise risk management products, from global technology firm Sword Group. The acquisition of Sword’s (Governance, Risk and Compliance) …
Although Berkshire Hathaway’s biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate’s insurance and reinsurance operations saw pretax underwriting profit jump nearly 12 percent, the annual report reveals. Underwriting profit for …
Irish insurers’ association Insurance Ireland has offered to open up its data sharing platform to nonmembers and apply fair criteria to access it in an attempt to end a near-three EU antitrust investigation and stave off a possible hefty fine. …
This edition of International People Moves details appointments at Euler Hermes, Gallagher Re and Marsh. A summary of these new hires follows here. Rosa Appointed CEO of Euler Hermes World Agency Euler Hermes, the world leader in trade credit insurance, …
Descartes Underwriting, the Paris-based parametric insurtech, has formed a partnership with Reask, the tropical-cyclone modeling firm. The partnership aims to expand the availability and advancement of parametric cyclone insurance products by combining Descartes’ ability to incorporate new technology into parametric …
Russia’s invasion of Ukraine could add to inflationary pressures and will likely have a substantial impact on the global insurance industry, said AM Best. The rating agency Friday said efforts by the global central banks and the U.S. Federal Reserve …
