Industry News

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Hannover Re Cuts Exposure to Coal-Based Risks, Limiting Investments, Underwriting
April 22, 2019
Hannover Re announced it is scaling back its exposure to coal-fired power plants and coal mines, joining a growing list of re/insurers that have made similar moves. In addition to excluding coal-based projects from its investment portfolio, Hannover …

Everest Insurance Hires Gregg as Vice President in New York City
April 22, 2019
Everest Insurance has hired Dawn Gregg as a vice president within the Risk Management division. In this role, Gregg will focus on growing the Everest Insurance portfolio of large primary casualty risk management accounts within the Eastern region. Sh …

Rhode Island High Court Vacates Lower Court Decision in Drowning Case
April 22, 2019
The Rhode Island Supreme Court has vacated a lower court’s decision that ruled in favor of a swimming pool retailer sued by the parents of a 4-year-old boy who drowned in one of their pools. Raymond Oliver and Tiffany Gear …

New Hampshire Senate Passes Bill to Boost Workplace Safety
April 22, 2019
The 2016 death of a Northfield Highway Department worker has led to the passage of bill aimed at improving workplace safety for New Hampshire’s public sector employees. The bill, which passed the House last month and won unanimous support Thursday … …

Warmth, Snowmelt, Rain Raise Flood Concerns in New England
April 22, 2019
A combination of warm weather, rain and melting snow was feeding floodwaters in low-lying areas of Vermont, New Hampshire and Maine on Saturday. No injuries were reported, but in Vermont the Stowe swift water rescue team was staging in the …

Class Action Defense Costs Rising; Wave of Cyber Actions Predicted
April 22, 2019
The overall cost to large businesses of defending against class action lawsuits continues to rise even as the number of companies sued falls. This is happening because more companies being sued are facing multiple suits and the cases have become …

Most Risky Passwords Are Team Names, Fictional Characters, Pop Stars and ‘123456’
April 22, 2019
British football fans should be wary of rooting for their team by making them a password. Liverpool, Chelsea, Arsenal, Manchester United and Everton are all passwords that have been compromised hundreds of thousand of times, according to research pub …

AI Startup Cytora Raises $32.5M to Expand Commercial Insurance Products, Geographies
April 22, 2019
Cytora, the London-based provider of artificial intelligence-powered solutions for the commercial insurance industry, announced it has raised £25 million ($32.5 million) in new financing, which will be used to accelerate expansion of the company’s pr …

Sompo International Appoints Brazil as CEO of SI Insurance (Europe)
April 22, 2019
Sompo International Holdings Ltd., the Bermuda-based specialty provider of property and casualty re/insurance, announced that Thomas Brazil will become chief executive officer of SI Insurance (Europe), SA, the company’s platform for European Economic …

Why It’s Difficult to Insure Iconic Properties Such as Notre Dame
April 22, 2019
Rebuilding Notre Dame, the 800-year-old Paris cathedral devastated by fire last week, will cost billions of dollars as architects, historians and artisans work to preserve the medieval landmark. But contrary to what one might think, little of the mon …

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