The Pennsylvania Commonwealth Court has approved the liquidation of Bedivere Insurance Company, formerly One Beacon Insurance Company, recognizing that the company’s financial liabilities have exceeded its assets. Belvedere, a domestic stock property/casualty company based in Pennsylvania, has consented to the …
The Winners Are InsurTech NY announced the winners of its 2021 Early-Stage InsurTech Competition at the InsurTech Spring Conference on March 10. The winners received prizes worth $200K in total. Winners were selected by judging panels grouped by their background—angel …
New Mexico’s highest court has ruled that monetary limits on some types of damages due to medical malpractice are not unconstitutional. The New Mexico Supreme Court on Monday unanimously upheld the Medical Malpractice Act, which maintains non-medical and non-punitive damages …
A massive fireworks explosion that left two people dead in Southern California earlier this week caused at least $3.2 million worth of damage, officials said. Residents began returning to their homes over the weekend after evacuating when Tuesday’s blasts rained …
A Russian man has pleaded guilty in the U.S. to offering a Tesla employee $1 million to cripple the electric car company’s massive electric battery plant in Nevada with ransomware and steal company secrets for extortion, prosecutors and court records …
India on Monday further opened up its insurance sector to foreigners, as the nation seeks to spur investments to give a fillip to an economy battered by the pandemic. Lawmakers approved a legislation increasing the limit on foreign direct investment …
Top quartile Lloyd’s Syndicate 1225, managed by AEGIS Managing Agency Ltd. (AEGIS London), is moving to a new office to accommodate its growing number of employees. The office, which will open fully once COVID restrictions are eased, is located on …
A group of investors led by Bernhard Capital Partners Management LP (Bernhard Capital), a services and infrastructure-focused private equity management firm, has entered into an agreement to make a significant investment in Metairie, Louisiana-based The Gray Casualty & Surety Co. …
TOKYO – Toyota, Nissan, Honda and other Japanese carmakers scrambled on Monday to assess the impact on their production of a fire at a Renesas Electronics chip plant that could aggravate a global semiconductor shortage. Renesas has said it will …
Pollution regulators said that contamination from toxic man-made “forever chemicals” has been detected in groundwater at nearly 60 closed landfills in Minnesota, with amounts exceeding levels for safe drinking water. The pharmaceuticals, microplastics and synthetic chemicals are known collectively as …