The U.S. electrical system is becoming less dependable. The problem is likely to get worse before it gets better. Large, sustained outages have occurred with increasing frequency in the U.S. over the past two decades, according to a Wall Street Journal review of federal data. In 2000, there were fewer than two dozen major disruptions,… Continue reading America’s Power Grid Is Increasingly Unreliable
Author: Farkas Laura
Burning Luxury Car Cargo Ship Felicity Ace Could Result in $500M Loss
According to Skytek, a software company that specializes in developing innovative solutions for complex and demanding industries, the fire that broke out on the Felicity Ace cargo ship, could result in a $500 million loss for the marine re/insurance market. The cargo ship was loaded with luxury cars as it departed Germany for the United… Continue reading Burning Luxury Car Cargo Ship Felicity Ace Could Result in $500M Loss
Investigations into Activision Harassment Cases Expanded
According to court documents and media reports, investigations into the US video game company Activision Blizzard over allegations of discrimination and harassment are being expanded. Last summer, the California Department of Fair Employment and Housing (DFEH) filed a lawsuit against Activision, alleging that the company tolerated a culture of sexual harassment, a toxic work environment,… Continue reading Investigations into Activision Harassment Cases Expanded
WTW Partners with Falvey Cargo Underwriting for Affirmative Cargo Cyber Coverage Solution
WTW, a leading global advisory, broking and solutions company, today announced an affirmative cyber coverage product for cargo and stock throughput risks. The result of a collaboration with Falvey Cargo Underwriting, a Falvey Insurance Group company, this will be the first standalone cargo cyber solution available in the insurance marketplace. WTW recognizes that cyber risk… Continue reading WTW Partners with Falvey Cargo Underwriting for Affirmative Cargo Cyber Coverage Solution
AIG Swings into Profit
American International Group Inc. (AIG) increased its fourth-quarter profit from the previous year, when the Covid-19 pandemic harmed results, as a turnaround effort lifted earnings in its main business-insurance unit. The global company earned $3.74 billion in net income, compared to a net loss of $60 million in the previous quarter. Its adjusted after-tax income,… Continue reading AIG Swings into Profit
Liberty Company Insurance Brokers Opens Office in Chicago
The Liberty Company Insurance Brokers announced today that it has opened an office in the Chicago Metropolitan Area. The office, located in Libertyville, Illinois, is a joint effort between two insurance veterans, Mark Caplis of First Gate Group and George Mangan of DC Benefits Consulting. Their combined experience spans over 75 years and bringing the… Continue reading Liberty Company Insurance Brokers Opens Office in Chicago
Expensive Shipping Containers Mean Rough Sailing for Global Trade
The deterioration of productivity and the rising cost of shipping a container are dashed hopes that the world’s supply-chain issues will be resolved anytime soon. Any end-of-year optimism that kinks in global supply chains would be ironed out in the first half of 2022 has faded, according to shipping experts, economists, and company executives. Ports… Continue reading Expensive Shipping Containers Mean Rough Sailing for Global Trade
Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
Historically, wildfires have been considered a California-centric risk exposure and with good reason as the top 10 costliest wildfires in the United States have occurred in the state—eight within just the past five years, according to the Insurance Information Institute. Wildfire risk exposure, however, is not limited to California. Forty-five of the 50 states have… Continue reading Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
FBI Calls Crypto ‘Only Game in Town’ as Ransomware Flourishes
Cryptocurrencies and deep-fake technology are sending chills throughout the U.S. government, with cyber crooks embracing digital innovations so rapidly that law enforcement can barely keep up, according to the Federal Bureau of Investigation. “Crypto is the primary currency, the primary vehicle, to facilitate extortion payments. It’s the only game in town,” Bryan Vorndran, assistant director… Continue reading FBI Calls Crypto ‘Only Game in Town’ as Ransomware Flourishes
Reinsurance Rates May Rise Faster than Primary for Two Years: Goldman Sachs
According to a bullish forecast from Goldman Sachs analysts, reinsurance rates and pricing may rise faster than primary insurance rates and pricing through 2022 and 2023. Goldman Sachs analysts, in initiating analyst coverage of the big four European reinsurance firms, imply that the reinsurance market has room to catch up further to the stage of… Continue reading Reinsurance Rates May Rise Faster than Primary for Two Years: Goldman Sachs