U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets which in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said on Tuesday.
Author: Annie George
Berkley Design Professional Now Participating in Deltek Marketplace Partner Network
Berkley Design Professional, a division of Berkley Alliance Managers, a Berkley Company, is excited to announce it has joined the Deltek Marketplace.
White House Pushes K-12 Cybersecurity Following Hacks at LAUSD and Other Schools
Almost a year after hackers exfiltrated 500GB of data including 2,000 student records from the Los Angeles Unified School District, Superintendent Alberto Carvalho joined White House officials in calling for improved cybersecurity at K-12 schools across the nation.
Berkshire Hathaway’s Operating Earnings Rise Nearly 7%
Berkshire Hathaway on Saturday reported a solid increase in second-quarter operating earnings, while the cash hoard at Warren Buffett’s conglomerate swelled to nearly $150 billion.
Surging Interest Rates Loom over Apartment Building Owners
Apartment buildings, long considered a real-estate haven, are emerging as the next major trouble spot in the beleaguered commercial-property world.
Trucking Company Yellow Files for Bankruptcy, Will Liquidate
Yellow, the 99-year-old trucking company, filed for bankruptcy and is closing the business, falling victim to mounting debt including a government loan and a standoff with the Teamsters union.
Allianz Former Manager Must Face U.S. Fraud Charges Related to $7B Investor Loss
A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses.
Cyber Insurer Resilience Secures $100 Million in Funding
Resilience Cyber Insurance Solutions has completed a Series D funding round, raising $100 million as startup cyber insurance companies continue to attract investment.
Israeli AI Startup Vesttoo Sparks a Global Insurance Scandal
A hot Israeli startup promised to use artificial intelligence to spread the risk of insurance policies. Now, Vesttoo is embroiled in scandal thanks to an old-fashioned problem: an alleged multi-billion-dollar fraud involving faked letters of credit.
Florida Shifting 184,000 Homeowner Policies from Citizens to Private Insurers
As homeowners continue piling into the state-backed Citizens Property Insurance Corp., regulators this week approved proposals that could lead to private insurers pulling as many as 184,000 policies from Citizens starting in October.