Bankrupt subprime auto dealer Tricolor Holdings is preparing to sue the company’s founder for allegedly masterminding a massive fraud that led to the company’s collapse into bankruptcy, according to a court filing. Daniel Chu is […]
Louisiana Insurance Commissioner Tim Temple approved SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange’s requests for a 7.5% average rate decrease on the carriers’ more than 73,000 homeowners policyholders and 17,000-plus dwelling policyholders. Related: Why […]
Westfield Specialty International announced its intention to expand its business from a Lloyd’s-only vehicle into the company market. Subject to regulatory approval, Westfield Specialty will launch a Luxembourg subsidiary and use this platform to underwrite […]
The American Property Casualty Insurance Association and the National Association of Mutual Insurance Companies were among a handful of organizations to send a letter to federal lawmakers in support of a bill to reform the […]
French insurer AXA SA said it’s exercising greater caution on the artificial intelligence build-out when backing financing for the sector, amid growing awareness of emerging risks in private markets. “We are convinced of the medium-term […]
Enterprise Risk Associates (ERA), an insurance brokerage platform focused on mergers and acquisitions of independent insurance agencies, announced it has received an investment from Macquarie Capital Principal Finance that will provide up to $150 million […]
South Korea’s biggest online retailer Coupang said on Wednesday that CEO Park Dae-jun has resigned, taking responsibility for a huge data breach at the company that has triggered a growing backlash in Asia’s fourth-largest economy. […]
Amazon.com Inc.’s new Kindle Scribe Colorsoft is the company’s most serious effort yet to turn its e-reader into a productivity tool. But with a starting price of $630—making it the priciest Kindle yet—Amazon will need […]
As the world’s reliance on satellites intensifies, so too does the risk of sophisticated cyberattacks targeting space-based systems and critical infrastructure, with almost 240 cyber hacks targeting the space sector in the past two years.This […]
As Australia began enforcing a world-first social media ban for children under 16 years old this week, Denmark is planning to follow its lead and severely restrict social media access for young people.This post was […]
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