New York’s largest workers’ compensation provider distributes more than half a billion dollars to employers through dividends and return of premium.
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Orion 180 Ranked No. 229 on the 2023 Inc. 5000 List
Orion180, a premier provider of insurance solutions founded in 2016, was named No. 229 on the 2023 Inc. 5000 list of America’s fastest-growing private companies.
Cyberattack Rule Raises Insurance Risks for Corporate Officers
A new SEC cyberattack reporting rule has left public companies and insurers exposed to potential regulatory probes and shareholder class actions alleging senior executives failed to supervise their businesses’ cybersecurity practices.
Fintech Vesttoo Seeks Chapter 11 Bankruptcy Protection
Israel-based fintech Vesttoo is seeking Chapter 11 bankruptcy protection in a U.S. court which will enable it to pursue legal action against those responsible for a fake collateral scandal, it said in a statement on Monday.
Insured Losses from Maui Wildfires at Least $1 Billion: Moody’s
Moody’s Investors’ Service said on Tuesday that estimated insured losses from wildfires on Maui in Hawaii will be at least $1 billion.
With AI, Hackers Can Simply Talk Computers Into Misbehaving
ChatGPT’s ability to respond quickly and effectively to simple commands has attracted more than 100 million users, and a few hackers along the way.
UBS to Pay $1.44 Billion to Settle 2007 Financial Crisis-Era Mortgage Fraud Case
UBS will pay U.S. authorities $1.44 billion to settle the last lingering legal case over Wall Street’s role in the housing bubble of the early 2000s, which ultimately led to the 2008 financial crisis and Great Recession.
Auto Insurance Shopping Bolstered by Increased Vehicle Sales and Search for Lower Rates
Auto insurance shopping rates were up 12% in Q2 2023, compared to the same time in 2022. While vehicle sales played a role in this increase, the search for lower insurance premiums was the primary driver, as the Consumer Price Index for motor vehicle insurance rose 17% in June 2023, compared to June 2022.
Maui Wildfires Expected to Be Second-Largest Insured Loss in State History
Wildfires burning since Aug. 8 on Hawaii’s Maui Island will likely result in the second-largest insured loss in the state’s history, according to a brief from catastrophe modeling firm Karen Clark & Company (KCC).
Maui Fires Come at a Moment of Turmoil for the Insurance Industry
The devastating wildfires in Hawaii have come at a time of upheaval for the insurance industry, in a place that had not been considered very risky by underwriters.