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Supreme Court Won’t Hear Elon Musk Dispute Over SEC Settlement The U.S. Supreme Court declined on Monday to hear Elon Musk’s bid to throw out part of a securities fraud settlement with the Securities and Exchange Commission restricting the billionaire businessman’s public statements about his electric car company Tesla. The …
POSTED APRIL 29, 2024 1:42 PM |
Freight Train Derailment, Fire Forced Interstate 40 Closure Near Arizona-New Mexico Line A freight train carrying fuel derailed and caught fire Friday near the Arizona-New Mexico state line, forcing the closure of an interstate highway that serves as a key trucking route. Initial passersby posted video and photos on social media of …
POSTED APRIL 29, 2024 1:36 PM |
Philadelphia’s Republic First Bank Closed by Regulators, Sold to Fulton Bank Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 …
POSTED APRIL 29, 2024 1:32 PM |
Burglars Targeting South Asians Stole $4 Million in Jewels Over Six Years A burglary ring that allegedly stole more than $4 million worth of jewelry mostly from the homes of South Asians in over two dozen communities has been broken up, the Massachusetts State Police said. Four people, including two brothers, were …
POSTED APRIL 29, 2024 1:28 PM |
UK Motor Premiums Start to Stabilize but Costs to Insurers Mount: ABI Motor premiums increased by just 1% in the first quarter of 2024, indicating an easing of the price rises seen in 2023 when premiums rose by 25% from 2022, according to the Association of British Insurers. However, insurers continue to …
POSTED APRIL 29, 2024 1:26 PM |
Canada’s London Drugs Shuts Pharmacies After Cyber Incident Pharmacy chain London Drugs Ltd. shut dozens of stores in western Canada on Sunday following a cyber incident. The chain discovered it was the victim of a cybersecurity incident on Sunday, a representative said by email, and shut all 79 …
POSTED APRIL 29, 2024 12:38 PM |
Africa Specialty Risks Launches ASR Syndicate 2454 at Lloyd’s Africa Specialty Risks (ASR), the pan-African focused re/insurance group, has launched ASR Syndicate 2454 focused on underwriting business across Africa. It is the first African-focused syndicate writing business at Lloyd’s and is managed by Apollo. ASR Syndicate officially began underwriting …
POSTED APRIL 29, 2024 10:51 AM |
Amboss Underwriting Assumes Oilfield Insurance Agencies’ Downstream Portfolio Zurich-based Lloyd’s coverholder Amboss Underwriting has assumed the portfolio of the Zurich branch of Oilfield Insurances Agencies. Effective April 17, 2024, the announcement marks the commencement of Amboss’ operations in Zurich and Amsterdam. Amboss has received approval from Lloyd’s of …
POSTED APRIL 29, 2024 10:32 AM |
Shadow-Fleet Oil Tanker That Crashed Had Void Western Insurance A shadow-fleet oil tanker that crashed in Denmark’s vital straits produced a set of insurance documents that weren’t valid, a stark example of how there’s little clarity about who would pay the bill if such a ship had a major …
POSTED APRIL 29, 2024 9:51 AM |
Markets/Coverages: Marsh Expands Cyber Facility ECHO, Offering Up to $125M of Excess Insurance Capacity Marsh, the insurance brokerage business of Marsh McLennan, announced an additional $25 million layer of capacity to its existing $100 million Cyber ECHO facility. Available to Marsh clients globally, Cyber ECHO now offers up to $125 million of excess cyber …
POSTED APRIL 29, 2024 9:19 AM |
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