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News – Insurance Journal
AXIS Re Appoints New Division Leaders
AXIS Re, the reinsurance business segment of Bermuda-based AXIS Capital Holdings Ltd., announced appointments within its leadership team, creating a new division for Property Reinsurance and simplifying the overall structure. The appointments include: Ann Haugh, president, Global Property Division. Haugh, …
POSTED MAY 11, 2021 8:19 AM |
UK Sees Surge in Cyber Scams Using Bogus Websites in 2020
Criminals launched more websites to trick people into giving up data, downloading malware and sending them money during 2020, taking advantage of pandemic lockdown by pretending to be celebrities, shops and government agencies. The UK’s National Cyber Security Centre took …
POSTED MAY 11, 2021 7:31 AM |
Apple Faces UK Lawsuit over Claims It Overcharged 20 Million App Store Users
Apple Inc is facing a London lawsuit over claims it overcharged nearly 20 million UK customers for App Store purchases, yet another legal headache for the tech giant fighting lawsuits across the world. Apple’s 30% standard fee is “excessive” and …
POSTED MAY 11, 2021 6:58 AM |
French Court Throws Out Lawsuit for ‘Agent Orange’ Damage During Vietnam War
PARIS – A French court on Monday threw out a lawsuit by a French-Vietnamese woman against more than a dozen multinationals that produced and sold a toxic herbicide dubbed “Agent Orange,” used by U.S. troops during the war in Vietnam. …
POSTED MAY 11, 2021 6:27 AM |
Highland Insurance Solutions Launches Admitted Builders Risk Coverage
Managing general agent Highland Insurance Solutions has launched a builders risk product available on admitted paper for construction owners, contractors, developers and homeowners. Available in 26 states, the coverage is written through American National Insurance Co. Highland Insurance Solutions offers …
POSTED MAY 11, 2021 6:11 AM |
Insurer UK Club Says Suez Canal Ship’s Reduced Claim Is Still Too Big
CAIRO – UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related …
POSTED MAY 11, 2021 1:49 AM |
U.S. Offered No Advice on Whether Colonial Pipeline Should Pay Pay Ransom
The White House declined to weigh in Monday on whether companies that are hacked like Colonial Pipeline should pay ransom to their attackers, but a national security official said it may offer some advice in the future. Anne Neuberger, deputy …
POSTED MAY 11, 2021 1:38 AM |
Colonial Pipeline Ransomware Attackers Say They Seek Cash, Not Chaos
The ransomware gang accused of crippling the leading U.S. fuel pipeline operator said on Monday that it never meant to create havoc, an unusual statement that experts saw as a sign the cybercriminals’ scheme had gone awry. The FBI accused …
POSTED MAY 11, 2021 1:27 AM |
Man Faces Arson Charges After $1M in Damage to Oregon Storage Units
A man faces arson and criminal mischief charges after a fire at a storage facility near the Salem Municipal Airport in Oregon on Monday resulted in over $1 million in damages. Firefighters responded to a report of a large fire …
POSTED MAY 10, 2021 9:25 PM |
Former California Agent Arraigned for Allegedly Stealing Insurance Payments
Formerly licensed insurance agent Danny Raymond Armenta, 48, of Clovis, Calif. was arraigned on Monday in Fresno Superior Court on multiple felony counts of embezzlement, grand theft and diversion of fiduciary funds after allegedly using his position as an insurance …
POSTED MAY 10, 2021 9:23 PM |
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