RiverStone International, the Bermuda-based legacy acquisition specialist, announced two major loss portfolio transfer (LPT) reinsurance deals, including its first involving the insurance-linked securities (ILS) market. The ILS transaction, announced on Oct. 30, involved the reinsurance of portfolios associated with funds …
Pennsylvania Governor Josh Shapiro signed House Bill 1972 into law, updating the state’s public adjuster law by capping adjusters’ fees, requiring pre-contract disclosures, prohibiting kickbacks from contractors, and strengthening licensing enforcement. The new law provides stronger protections for homeowners, businesses, …
Residents and visitors in a small coastal city in Oregon were evacuated last week when a fire erupted at a seafood production plant and it was feared ammonia tanks could rupture and send dangerous amounts of the chemical into the …
Property insurance claim reviewers and engineers frequently encounter a forensic anomaly: A mitigation contractor reports a roof leak, logs ceiling moisture readings of 40%, 60%, or 80%, drills a line of holes into the drywall, and runs mechanical drying equipment …
A US federal appeals court on Friday reinstated a jury’s verdict against the National Football League in an antitrust lawsuit claiming it overcharged subscribers to its Sunday Ticket game telecasts for more than a decade, but said the league can …
Hong Kong’s Cathay Pacific Airways Ltd. said it had joined a growing list of global airlines affected by a data breach at a major software provider. Cathay said around 53,000 bookings were affected by unauthorized access to reservation data held …
American International Group (AIG) announced it has entered into a definitive agreement to acquire Everest Group Ltd.’s insurance subsidiary in Chile. AIG also announced the completion of its previously announced acquisition of Everest Compañía de Seguros Generales Colombia S.A. (Everest …
A federal judge threw out Donald Trump’s renewed $10 billion defamation lawsuit against the Wall Street Journal and ruled that it can’t be filed again, marking another setback for the president’s legal fights with the press. Judge Darrin Gayles in …
Binance began restoring customer withdrawals Sunday after hackers attempted to drain over $6 billion in the biggest cyber theft ever recorded, as the crypto industry awaits answers on the breach blamed on North Korea and steps to strengthen the exchange’s …
A suspected hack impacting billions of dollars of funds on the Binance crypto exchange spurred emergency asset freezes and sent the price of digital assets tumbling. Executives of the world’s biggest trading venue for the currencies said they were investigating …