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. […]
More than 30 U.S.-sanctioned oil vessels doing business in Venezuela could face punishment by Washington after the Coast Guard seized a supertanker carrying Venezuelan crude for export, according to shipping data. The seizure, announced by […]
The U.S. has seized a sanctioned oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, a move that sent oil prices higher and sharply escalated tensions between Washington and Caracas. “We’ve […]
The U.S. Justice Department has withdrawn from an agreement with the city of Houston to curb illegal dumping in Black and Latino neighborhoods, part of the Trump administration’s broad dismantling of environmental justice initiatives. Federal […]
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