Insurance News

Insurance Journal Insurance Journal delivers the latest business news for the Property/Casualty insurance industry

  • More Assertive SEC Smacks Down SPACs: Viewpoint
    by Andrew G. Simpson on April 21, 2021 at 11:45 am

    Investor Jeremy Grantham says special purpose acquisition companies, which raise money in an initial public offering and then find a promising company with which to merge, are a “license to rip investors off.” On an investing podcast in February, the …

  • Chinese Military Reported to Be Behind Japan Cyber Attacks
    by L.S. Howard on April 21, 2021 at 10:27 am

    China’s military is thought to have instructed a hacker group to conduct cyber attacks on nearly 200 Japanese research institutions and firms, public broadcaster NHK reported, citing unidentified people in a police investigation. The investigators found a member of China’s …

  • Bank of England Warns of Potential Risks from Cloud Data Providers
    by L.S. Howard on April 21, 2021 at 10:08 am

    LONDON – The Bank of England might strengthen its controls on cloud data providers and other technology firms to counter possible risks to the stability of the financial system from the rise of fintech, Deputy Governor Dave Ramsden said. The …

  • Mom Sues Over Teen’s Suicide at Maine Youth Detention Center
    by admin on April 21, 2021 at 10:00 am

    The mother of a transgender teenager who died by suicide at a youth detention center in Maine has filed a wrongful death lawsuit against the state. Michelle Knowles, of North Vassalboro, filed the lawsuit Tuesday against the Maine Department of …

  • New York Petroleum Carrier Pays $375K for Seaman’s Protection Act Violation
    by admin on April 21, 2021 at 10:00 am

    A Long Island, New York-based petroleum barge company and three former and current management officials have paid $375,000 in restitution to the brother of one of two seamen killed in a barge explosion off the coast of Texas. The seaman …

  • Maine Man Charged with Hate Crime in Black Church Arson
    by admin on April 21, 2021 at 10:00 am

    A Maine man accused of setting fire to a Massachusetts church with a predominantly Black congregation been charged with hate crime offenses, federal prosecutors said. Dushko Vulchev is charged in federal court with four counts of damage to religious property …

  • Insurers Warn that Drivers May Not Understand Limits of ‘Automated’ Car Technology
    by L.S. Howard on April 21, 2021 at 9:55 am

    LONDON – Britain’s goal to be a leader in adopting self-driving cars could backfire unless automakers and government regulators spell out the current limitations of the technology, insurance companies warn. Insurers are key players in the shift to automated driving, …

  • Tech Provider FintechOS Raises US$60M to Fuel Global Expansion
    by admin on April 21, 2021 at 9:22 am

    FintechOS the London-based technology provider for insurers, banks and other financial services companies, announced it has raised US$60 million (€51 million) in Series B funding. The round was led by venture capital firm Draper Esprit. Existing investors Earlybird Digital East, …

  • Canadian MGA GroupAssur Merges with Evolution Insurance
    by admin on April 21, 2021 at 8:46 am

    GroupAssur, a Canadian managing general agent (MGA), specializing in property/casualty insurance lines, announced it has merged with Evolution Insurance, an MGA and wholesaler specializing in complex risks that offers its facilities, programs and services to Canadian brokers. Novacap, one of …

  • TikTok Faces Damages Claim Worth Billions in London Child Privacy Lawsuit
    by L.S. Howard on April 21, 2021 at 8:15 am

    LONDON – TikTok, the wildly popular video app, and its Chinese parent ByteDance could face a damages claim worth billions of pounds (dollars) in London’s High Court over allegations they illegally harvested the private data of millions of European children. …

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