News
After First Net Loss Since 1923, USAA Back to Profit in 2023
USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based ...
U.S. Cyber Chief Sees ‘Very Aggressive’ Chinese Hacking Strategy
A top U.S. spy chief said China is increasingly using its companies to find vulnerabilities in their own computer networks and then tapping that knowledge to target foreign nations and industries. ...
Executive Moves: Beale Named Chair of South Pole; Howden Re Appoints Hearn as Chair, Global Clients Strategy; Hyperexponential Hires Ryan as Head of US P/C
Former Lloyd's chief executive officer Inga Beale has been named chair of the climate consultancy South Pole, with a remit to help drive the company's business transformation plans as carbon markets ...
RiverStone Acquires Electric Insurance; Plymouth Rock Gets Renewal Rights
RiverStone International reports it has closed on its acquisition of Electric Insurance Co. and its two subsidiaries, Elm Insurance Co. and Electric Insurance Agency. Electric Insurance is a Beverly, ...
Denial of House Fire Claim Upheld. Insureds Never Knew Their Policy Was Nonrenewed.
A Connecticut Appeals Court has affirmed that an insurer is not obligated to provide actual notice of a home insurance nonrenewal; proof that the insurer sent the notice by registered or certified ...
FBI Takes Down Huge Global Army of Zombie Computer Devices
The FBI said it has dismantled what is likely the world's largest botnet — an army of 19 million infected computers — that was leased to hackers for cybercrimes. The botnet, which was spread ...
Musk Accused of $7.5 Billion of Insider Trades in Investor Suit
Elon Musk had inside knowledge of a miss on production and delivery numbers that Tesla Inc. was facing when he sold more than $7.5 billion in stock in 2022, a shareholder in the electric vehicle ...
32.7M Homes at Risk of Hurricane Damage, CoreLogic Report Shows
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes ...