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Global Insurers Face Hefty Costs of $15B-$20B to Implement IFRS 17: WTW

The total cost faced by the global insurance industry to implement IFRS 17 is estimated to be in the range of US$15 billion-$20 billion, according to a new global survey by Willis Towers Watson. While the estimated costs will vary …

$3.25M in Medical Malpractice Death of Washington Prisoner

The Washington state Department of Corrections has agreed to pay $3.25 million to the family of a man who died at Monroe Correctional Complex after not receiving adequate medical care. A lawsuit filed by Julia Kleutsch said her husband, John …

New Falcon Risk MGA Targets Financial, Cyber With Argo Pro Ex-President Landi as CEO

Falcon Risk Holdings is the name of a new managing general agency formed by Griffin Highline Capital, HDI Global Specialty SE and Craig Landi, former Argo Pro president who will lead the new entity. Summit, New Jersey-based Falcon will be …

Arson Suspected in Idaho Theme Park Fire

Authorities suspect an arsonist set a wooden roller coaster on fire in an overnight blaze at a northern Idaho theme park. The Kootenai Sheriff’s Office responded to the Silverwood Theme Park near the town of Athol at about 1:30 am …

Hub Acquires Assets of California-Based EnterMedicare Inc.

Hub International Ltd. has acquired the assets of EnterMedicare Inc. in Los Angeles, Calif. Terms of the deal were not disclosed. Dennis Negron, Founder and CEO of EnterMedicare, and the EnterMedicare team will join HUB’s national employee benefits practice. Chicago, …

South Carolina Top Court Rejects Kiawah Island Developers’ Steel Wall

KIAWAH ISLAND, S.C. — Developers planning to build homes on a sand spit south of Charleston, South Carolina are facing another setback after the state Supreme Court overturned their permits to construct a steel seawall. The court ruled Wednesday that …

First U.S. Artificial Intelligence Czar Seeks ‘Responsible Use’ of AI Tools

Computer scientist Lynne Parker made breakthroughs in getting robots to work together so they could perform difficult missions, like cleaning up after a nuclear disaster, waxing floors or pulling barnacles off a ship. Her job now is getting the U.S. …

People Moves: New Hires at Maryland Insurance Administration, Ascot; Millers Mutual Promotes Begyn

Ascot Appoints Lillegard as Group Chief Actuary Ascot has appointed Matthew Lillegard as group chief actuary. He will be responsible for leading the overall Ascot Group actuarial functions and will work in close collaboration with colleagues across Ascot’s underwriting, risk, …

Amazon CEO Bezos Volunteers for Risky Space Travel Journey in June

Amazon’s billionaire founder Jeff Bezos said on Monday he and his brother Mark will fly on the first crewed space flight from his rocket company Blue Origin next month. “Ever since I was five years old, I’ve dreamed of traveling …

NRA Drops Countersuit, Will Fight New York Attorney General in State Court

The National Rifle Association has dropped a lawsuit accusing New York’s attorney general of suing the gun rights group last year out of political hostility, opting to challenge her through counterclaims in the same court where her case is playing …

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