Lawsuits filed against some of the biggest names on the Las Vegas Strip allege the gaming companies failed to protect customer data during recent cyberattacks.
Author: Annie George
US Cyber Loss Ratios Returned to 2019 Levels in 2022: Aon
U.S. cyber market loss ratios returned to 2019 levels in 2022, dropping from 67% in 2021 to 45% across standalone and package policies, according to Aon’s recently released cyber market update.
Deutsche Bank’s DWS Fined $25M for ‘Green’ Investments Misstatements
Deutsche Bank’s investment subsidiary DWS, based in the US, was set to pay $25 million in penalties to the US Securities and Exchange Commission (SEC) for misstatements regarding “green” investments and insufficient money laundering controls.
Technology Marketing Exec Beth Taylor Joins ReSource Pro as Senior Vice President, Global Head of Marketing
ReSource Pro, a leader in people, technology and business solutions for insurance providers, today announced Beth Taylor as Senior Vice President and Global Head of Marketing.
California Paves Way for More Insurance Coverage in Disaster-Prone Areas
California will now let insurance companies consider climate change when offering policies, in exchange for a mandate requiring them to offer coverage in wildfire-prone areas, state leaders announced on Thursday.
How New York’s Supplemental Spousal Liability Insurance Law Will Impact Personal Auto Policies
A New York law that went into effect on Aug. 1 requires auto insurers to add a new line of coverage — supplemental spousal liability insurance — for all drivers, even those who are unmarried or are buying coverage for a business.
FTC Poised to Sue Amazon for Antitrust Violations
The Federal Trade Commission is expected to sue Amazon.com Inc. for antitrust violations, according to people familiar with the matter – marking the agency’s fourth swipe at the online retail giant this year.
Home Values Could Collapse as Rising Climate Dangers Wreak Havoc on Insurance Markets, Study Says
Climate change is roiling the US home insurance market, paving the way for a massive correction in property values, a First Street Foundation study said.
Court Approves Vesttoo to Seize $30M from Fraud Accused Co-Founders & Execs
According to a report in the Israeli media, the Tel Aviv District Court has approved Vesttoo to seize approximately $30 million in assets from its two ousted co-founders, as well as the persons that worked to source investors who have been implicated in the letter of credit (LOC) fraud scheme.
The Future of Fronting Companies
Fronting companies are facing challenges and greater scrutiny amid the recent Vesttoo scandal and Trisura matter with rating agencies and other stakeholders taking a closer look at the use of LOCs for reinsurance collateral. Following is an overview of the fronting market and what happened over the last several months to put this insurance model in the news.