Arthur J. Gallagher & Co. said a U.S. Justice Department investigation related to its insurance business with public entities in Ecuador has ended without charge.
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Google in Talks to Participate in Lloyd’s of London Captive Syndicates
Tech giant Google was reported by The Insurer to be looking for approval to establish a captive via Lloyd’s captive syndicates.
Combating Misleading Insurance Marketing Among NAIC Priorities
The National Association of Insurance Commissioners will step up its efforts to combat misleading or deceptive marketing of insurance products in 2024 as one of the NAIC’s five strategic priorities for the year.
Cyber Insurance Market Growing Dramatically, Triple-I Finds
Direct written premiums for cyber insurance worldwide could rise to $23 billion by 2025, with U.S. businesses paying about 56% of the total, according to the Insurance Information Institute’s (Triple-I) latest Issues Brief.
DOXA Launches New Property MGA
DOXA Insurance Holdings today introduced Arris, a new insurance program with coverage designed for the excess and surplus (E&S) commercial property space.
Chainalysis: A ‘Major Comeback’ for Ransomware in 2023 as Cybercriminals Net $1.1B
Cybercriminals took in $1.1 billion from ransomware attacks in 2023, a new global record that doubles the previous year’s $567 million, according to new data from Chainalysis, a blockchain analysis firm.
UN Experts Investigating 58 Suspected North Korean Cyberattacks Valued at About $3B
U.N. experts say they are investigating 58 suspected North Korean cyberattacks between 2017 and 2023 valued at approximately $3 billion, with the money reportedly being used to help fund its development of weapons of mass destruction.
Two Private Florida Insurers Propose 50% Rate Increase
Some property insurance rates in Florida might be about to jump — in a big way.
Americans Reported Losing a Record $10 Billion to Scams and Fraud in 2023
Consumers reported losing $10 billion to scams and fraud in 2023, up from $9 billion the year before, according to newly released numbers from the Federal Trade Commission (FTC). The rising cost of these crimes is staggering, considering that in 2020 Americans lost only $3.5 billion to fraud, including identity theft.
Lacking Flood Insurance Can Lead to Property Risks and Unexpected Costs
Recent U.S. hurricane activity and severe flooding from coast to coast have amplified the cost of being uninsured, and just because it hasn’t previously flooded in an area doesn’t mean that it can’t happen.