Industry News
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying less on them and more on a niche bond market …
Via: Claims Journal
A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA). Northeast …
Via: Claims Journal
In 2022, Jake Clay started an Amazon delivery firm in Odessa, Texas, after hearing about the company-sponsored program from a friend. He sank $75,000 into the business and earned more than $200,000 in the first year. An Air Force veteran, …
Via: Claims Journal
A cyber attack on Askul Corp. is disrupting e-commerce and logistics for major Japanese retailers including Muji owner Ryohin Keikaku Co. It’s the second such incident to unsettle the country’s consumer market in less than a month. Household goods seller …
Via: Claims Journal
BNP Paribas shares tumbled on Monday, after a U.S. jury found the French bank helped Sudan’s government commit genocide by providing banking services that violated American sanctions, raising questions about whether the lender will be exposed to further legal claims. …
Via: Claims Journal
State officials on the front lines of preparing for natural disasters and responding to emergencies say severe cuts to federal security grants, restrictions on money intended for readiness and funding delays tied to litigation are posing a growing risk to …
Via: Claims Journal
The Vatican’s child protection board said the Catholic Church has a moral obligation to help victims of clergy sexual abuse heal. Financial reparations for the abused and tougher sanctions for the abusers and their enablers are essential remedies, it said. …
Via: Claims Journal
The U.S. National Highway Traffic Safety Administration said on Monday it has opened a preliminary probe into about 2,000 Waymo self-driving vehicles after reports that the company’s robotaxis may have failed to follow traffic safety laws around stopped school buses. …
Via: Claims Journal
Amazon’s cloud services unit AWS was struggling to recover on Monday from a widespread outage that knocked out thousands of websites along with some of the world’s most popular apps – Snapchat and Reddit – and disrupted businesses globally. The …
Via: Claims Journal
The state-backed hackers who breached cybersecurity company F5 Inc. broke in beginning in late 2023 and lurked in the company’s systems until being discovered in August of this year, according to people who were briefed by F5 about the incident. …
Via: Claims Journal