Cowbell Cyber, based in Pleasanton, California, closed a $100 million Series B round just over a year after raising its Series A, as cyberattacks continue to dominate news headlines. Anthemis Group led the new round, which included Permira, PruVen Capital, Nyca Partners, Viola FinTech, and all existing investors. Since its inception in 2019, the company… Continue reading Cowbell Cyber Raises $100M As Cyberattacks Rise
Author: Farkas Laura
NY Fines Two Insurers $4.2M for Alleged Reporting Failures
NY Superintendent of Financial Services Adrienne A. Harris today announced that Zurich American Insurance Company and Progressive Direct Insurance Company have entered into separate Consent Orders with the Department of Financial Services resolving DFS’s investigations into the companies’ failure to timely report certain insured vehicle information to the Department of Motor Vehicles. Under those Consent… Continue reading NY Fines Two Insurers $4.2M for Alleged Reporting Failures
Tsunami Warning Issued After Strong Quake Hits Northeastern Japan
A strong earthquake of estimated magnitude 7.3 hit northeastern Japan late Wednesday, and a tsunami warning was issued for the region’s Pacific coast. The Japan Meteorological Agency said the height of the forecast tsunami was estimated at one meter. The quake struck at around 11:36 p.m. and was centered off the coast of Fukushima prefecture,… Continue reading Tsunami Warning Issued After Strong Quake Hits Northeastern Japan
Moody: P&C Carrier Price Hikes Will Help Weather Inflation
Property/casualty price increases may be slowing down but insurers are positioned well to stay ahead of inflation and catastrophe losses, according to a new report from Moody’s Analytics. The group of 22 P/C insurers rated by Moody’s boosted their net income from $28 billion in 2020 to around $38 billion in 2021, demonstrating healthy growth… Continue reading Moody: P&C Carrier Price Hikes Will Help Weather Inflation
U.S. Eliminates Human Controls Requirement for Fully Automated Vehicles
U.S. regulators issued final rules on Thursday that eliminate the requirement for automated vehicle manufacturers to equip fully autonomous vehicles with manual driving controls in order to meet crash standards. Because of safety standards written decades ago that assume people are in control, automakers and technology companies have faced significant challenges in deploying automated driving… Continue reading U.S. Eliminates Human Controls Requirement for Fully Automated Vehicles
Chubb Expands North America Leadership Team with New Appointments in Small Commercial and Lower Middle Market Segments
Chubb has added Ketan Vaidya as Division President of North America Small Commercial Insurance to its commercial leadership team. Mr. Vaidya will report to John Lupica, Vice Chairman, Chubb Group and President of North America Insurance, in this new position, and will have executive operating responsibility for Chubb’s insurance business that serves small commercial clients… Continue reading Chubb Expands North America Leadership Team with New Appointments in Small Commercial and Lower Middle Market Segments
U.S. Life Insurance Sales Rise on Covid-19 Fears
Americans went on a life insurance buying spree in 2021, fueled by fears of death from the ongoing coronavirus pandemic. According to industry-funded research firm Limra, premium volume for new individual life-insurance policies increased by 20% compared to 2020, while the number of policies issued increased by 5%, the largest year-over-year percentage gains since the… Continue reading U.S. Life Insurance Sales Rise on Covid-19 Fears
U.S. Companies to Face New Cyber Reporting Requirements
According to new rules approved by Congress, companies critical to US national interests will now be required to report when they are hacked or pay ransomware. The rules are part of a larger effort by the Biden administration and Congress to strengthen the country’s cyberdefenses following a series of high-profile digital espionage campaigns and disruptive… Continue reading U.S. Companies to Face New Cyber Reporting Requirements
North P&I and Standard Club Make Plans for Insurance Mega-Merger
North P&I and Standard Club are negotiating the terms of a merger that would create one of the largest mutual cover providers in the maritime industry. The combined club would provide coverage for approximately 400 million GT of vessels. “Standard Club and North now have the opportunity to create one of the world’s leading and… Continue reading North P&I and Standard Club Make Plans for Insurance Mega-Merger
Victims of 2015 California Bridge Collapse to Share $38.5M Settlement
A $38.5 million settlement has been reached between the builders of a bridge over the 91 Freeway in Corona and nine workers injured when part of the structure collapsed in 2015. Chris Aitken, the attorney for one of the workers, Buena Park resident James “Chip” Chaffee, who suffered a brain injury, said a Riverside County… Continue reading Victims of 2015 California Bridge Collapse to Share $38.5M Settlement