July 12, 2021
Governor Andrew M. Cuomo has announced a $4.5 billion settlement with Purdue Pharma over the company’s role in falsely marketing its products. The owners of Purdue Pharma, the Sackler family, will be required to pay $4.5 billion over the next …
July 12, 2021
Aston Lark, the London-based insurance broker that is backed by Goldman Sachs, announced the acquisition of the Linkscover brand to further strengthen its sports and leisure expertise. Financial details of the transaction were not disclosed. Established in 2015 and based …
July 12, 2021
Tri-State Consumer Insurance Company will pay a $500,000 penalty to New York state for multiple violations of New York law. A New York State Department of Financial Services (DFS) investigation uncovered that Tri-State failed to timely comply with New York …
July 12, 2021
Rokstone, the international speciality re/insurance MGA, part of the Aventum Group, announced it has secured an insurance agent license from the Financial Services Commission in Mauritius (FSC). The company is now fully authorized to underwrite business directly in Africa from …
July 12, 2021
Former New York Yankees star Joe Pepitone has filed a lawsuit against the National Baseball Hall of Fame and Museum seeking the return of the Louisville Slugger bat that Mickey Mantle used to hit his 500th career home run more …
July 12, 2021
A district council in eastern Germany has declared a disaster after its computer systems were paralyzed by a hacker attack in what the federal cyber-security watchdog confirmed was the country’s first-ever “cyber-catastrophe.” Hackers knocked out the IT operations of the …
July 12, 2021
June 2021 left Europe with its costliest severe storm period on record. Meanwhile, over in the U.S. in Canada, record-setting heatwaves caused significant damage, according to Aon’s latest natural catastrophe report. Aon said Europe will face insured losses of more …
July 12, 2021
Daily Mail and General Trust Plc (DMGT) said it is in discussions to sell its catastrophe modeling insurance unit, RMS, following a number of third party inquiries. DMGT said discussions are ongoing and there is no certainty that a transaction …
July 12, 2021
Eight of the world’s leading insurance and reinsurance companies on Sunday launched an alliance to help speed up a transition to a net zero emissions economy. The companies, which include Europe’s top three insurers by premiums – Allianz, AXA and …
July 12, 2021
It’s hot out. It’s getting hotter. The climate memes practically write themselves: “Think this summer is hot? Consider it the coolest of the rest of the 21st century.” It’s these events—the extreme hot days, droughts, floods, and other weather phenomena …