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‘Preventable’ National Grid Failures Led to Heathrow Fire: Report
A fire that shut London’s Heathrow airport in March, stranding thousands of people, was caused by the UK power grid’s failure to maintain an electricity substation, an official report said on Wednesday, prompting the energy watchdog to open a probe. …... Read more
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People Moves: Ki Appoints Ex-PartnerRe Executive Bonneau as Chair
Ki Appoints Ex-PartnerRe Exec Bonneau as Chair Ki, the algorithmically powered Lloyd’s digital follow platform, announced the appointment of Jacques Bonneau as non-executive chair for Ki Financial Ltd., effective July 1, 2025. Bonneau was previously president & CEO of PartnerRe, …... Read more
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Tensions Are Starting to Brew Over Waterways for US LNG Cargoes
One of the US largest exporters of liquefied natural gas, Venture Global Inc., is raising questions over how to share a common waterway with a planned neighbor — it’s a move that underscores a coming bottleneck for shipping space in …... Read more
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Judge Dismisses Texas Attorney General’s Lawsuit Over State Fair Gun Restrictions
A Dallas County district judge dismissed state Attorney General Ken Paxton’s suit against the State Fair of Texas and the City of Dallas, for gun restrictions that were enacted following a 2023 shooting that injured three people at the fairgrounds. …... Read more
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Wisconsin Sports Park Sued for Firing Christian Employee
Crystal Ridge Ski Area, LLC, doing business as The Rock Snowpark, a winter sports park and summer events venue in Franklin, Wisconsin, violated federal law when it terminated a lift operations manager because of his religion, the U.S. Equal Employment …... Read more
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People Moves: Rockford Mutual Promotes Kriens to Claims VP as Kennedy Retires
Rockford Mutual Insurance Company (RMIC), headquartered in Rockford, Illinois, promoted Ann Kriens to the position of claims vice president. Kriens joined RMIC in 2014 with 20 years of claims experience at Economy/MetLife, serving as an adjuster, support supervisor, property subrogation …... Read more
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Northeast Firms to Pay $1.37M to Settle Claims of Shoddy Runway Construction
Contractors from Maine, Connecticut and New York will pay $1.37 million to resolve allegations concerning false claims for payment related to the rehabilitation of a Westfield-Barnes Regional Airport runway in Westfield, Massachusetts. As part of the settlement agreement announced by …... Read more
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Cyberattack on Brazil Tech Provider Hits Reserve Accounts of Some Financial Institutions
Brazil’s central bank said on Wednesday that technology services provider C&M Software, which serves financial institutions lacking connectivity infrastructure, had reported a cyberattack on its systems. The bank did not provide further details of the attack, but said in a …... Read more
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Business Moves: Specialist Risk Group Acquires Generation Underwriting From WF Risk Group; Ardonagh Acquires Majority Stake in Apex Insurance in Hong Kong
Specialist Risk Group Acquires Generation Underwriting From WF Risk Group Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of managing general agent Generation Underwriting, which has offices in Newcastle and Belfast, from WF Risk Group. Financial details …... Read more
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Aon’s Albert G. Ruben Joins Relation Insurance
Relation Insurance Services said late last month that it acquired Aon’s Albert G. Ruben, a brokerage for the entertainment industry for the last 65 years. Terms of the deal were not disclosed. The Albert G. Ruben name and team will …... Read more
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Florida Taps Contractors With No Detention Experience for ‘Alligator Alcatraz’
On June 20, nearly three weeks into the Atlantic hurricane season, Florida disaster-management officials assembled a group of emergency relief contractors in Tallahassee and asked them to do something they had never done before. Governor Ron DeSantis wanted to construct …... Read more
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Data Call: South Carolina DOI Sets August Deadline for Liability Insurance Info
In keeping with state law, the South Carolina Department of Insurance is again asking carriers to submit extensive data on commercial liability and liquor liability coverage in the state. The data should be submitted by Aug. 31 and should include …... Read more
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Zurich Insurance Buys Canadian Insurance Technology Firm BOXX
Zurich Insurance Group AG agreed to buy BOXX Insurance Inc, a Canadian cyber risk management firm, marking the Swiss insurer’s latest push into the insurance technology sector. The acquisition will see BOXX becoming part of Zurich’s platforms business, Zurich Global …... Read more
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Reinsurance Renewal Prices Moderate as Capacity Exceeds Cedent Demand: Brokers
Strong returns in the reinsurance sector are attracting capital and leading to favorable pricing outcomes for buyers — but underwriting discipline continues, according to renewal reports from three reinsurance brokers. Despite heavy natural catastrophe losses in the first quarter, reinsurance …... Read more
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Retailers Sue New York to Block Algorithmic Pricing Law
New York state was sued on Wednesday by the National Retail Federation over a new law requiring retailers to tell customers when their personal data are being used to set prices, known as surveillance pricing. The world’s largest retail trade …... Read more