Markets
Four Employees Sue Bristol Myers for Refusing COVID-19 Vaccine Religious Exemptions
Bristol Myers Squibb Co was sued on Wednesday by four employees who said the drugmaker refused to grant them religious exemptions from its COVID-19 vaccination requirement, and threatened to fire ...
China Starts Letting Insurers Lend Securities, Possibly Boosting Short Selling
China on Friday authorized its insurers to take part in securities lending, potentially boosting short-selling activities in the country's stock and bond markets. Chinese banks, brokerages and mutual ...
Lessons from CNA, JBS and Colonial Pipeline Ransomware Payments
In March 2021, CNA Financial Corp., one of the country's largest insurance companies, suffered a ransomware attack from a cybercriminal group called Phoenix. The attackers pressured the insurer to ...
Insurers Taking Note of Big Verdicts, But Trial Lawyers Don’t Expect Big Changes
When CVS Pharmacies announced that it was closing 900 stores around the country just weeks after a Georgia appeals court upheld a $43 million premises liability verdict against the company, some saw ...
Wildfire Risk MGA Delos Raises $5.3M for Further California Expansion
Delos Insurance Solutions, a catastrophe insurance MGA focused on California wildfire-related risks, raised $5.3 million in seed funding designed to fuel further expansion in the state. "With this ...
European Insurers Brace for Sanctions Over Nord Stream 2 Pipeline
A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically-sensitive project to bring Russian ...
Finland Struggling to Stop Malware Attack Spread by Text Messages
Finland is working to stop a flood of text messages of an unknown origin that are spreading malware. The messages with malicious links to malware called FluBot number in the millions, according to ...
Stable Market Outlook for U.S. Personal Lines Heading Into 2022: AM Best
The U.S. personal lines insurance industry has earned a continued AM Best market segment outlook of stable heading into 2022 due to strong fundamentals in the sector, the ratings entity said in a new ...