A major legislative package, House Bill 837 (companion to Senate Bill 236) expected to be signed into law by Florida Governor Ron DeSantis this week, would consummate tort reform in Florida.
Author: Annie George
Companies Big and Small Lose Access to Credit Amid Bank Stress
Companies from mom-and-pop operations to multinationals will find it harder to access credit in the wake of sudden stress in the global banking system, analysts say.
Banks, Financial Industry Hit by Rising Ransomware Attacks
In its annual outlook on cyber threats, the Financial Services Information Sharing and Analysis Center reported that ransomware remained the biggest concern.
Deutsche Bank Shares Plunge, Default Insurance at Highest Since 2018
Deutsche Bank shares tumbled on Friday after the cost of insuring the bank’s debt against the risk of default shot to more than four-year highs.
Twelve Capital: Liquidity Risks “Remote” for Most Reinsurers Amid Banking Crisis
Twelve Capital, an independent investment manager specializing in insurance investments, concluded that “liquidity risk is remote” for most reinsurers.
SEC Planning Lawsuit Against Coinbase, Crypto Exchange Claims
The SEC has told Coinbase Global it plans to take enforcement action against the company, escalating its crackdown on digital-currency firms by targeting the biggest US crypto exchange.
U.S. P&C Industry Suffers $26.5B Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, a slide of $21.5 billion from the prior year’s underwriting loss, according to a new AM Best report.
Swiss Re: Insured Losses from Natural Catastrophes Top $100B Mark in 2022
2022 was the second consecutive year in which insured losses from natural catastrophes exceeded the $100 billion mark.
Cybersecurity Insurer Coalition Unveils Model to Simulate Large-Scale Attacks
Coalition Inc. has designed technology that simulates large-scale cyber attacks to help insurers identify potential weaknesses in their portfolios and prevent widespread losses.
Federal Judge Says GM Must Face Class Actions Over Defective Transmissions
A federal judge in Detroit certified class actions for drivers in 26 U.S. states who accused General Motors Corp of producing faulty transmissions.