News
Crypto-Focused Bank Silvergate Plans to Wind Down Following Blow From FTX
Crypto-focused bank Silvergate Capital Corp. said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto ...
Glut of Plastic Polluting World’s Oceans Is Growing Fast: Research
There are more than 170 trillion tiny plastic particles — or 2 million tons of them — floating on the surface of the ocean, and many of them got there after 2004, according to a paper published ...
A market conduct examination is a formal review by a state insurance department of how an insurer operates in the...
New Reinsurance Brokerage, ReFlex Solutions, Launches in Bermuda
ReFlex Solutions Ltd., a new independent reinsurance brokerage, has launched in Bermuda with near-term plans for expansion into London and the U.S. The new business is led by Neville Ching, an ...
Show Must Go On for Broadway Theaters’ COVID Loss Claim, Federal Judge Rules
A New York federal judge has refused to lower the curtain on a COVID-19 business loss claim by the owner of five Broadway theaters because the entertainment insurance policy language is ambiguous as ...
Should a State Surcharge Insurers That Underwrite Fossil Fuel Risks?
Connecticut lawmakers are considering imposing a surcharge on insurers' premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5 percent of any premiums any insurer ...
Executives on the Move at Allianz, Sompo International, Greenlight and Mercury General
Allianz Global Corporate & Specialty SE announced that Tracy Ryan has joined its board of management as chief regions and markets officer for North America. She succeeds William Scaldaferri, who ...
Swiss Re Closes $700M Alternative Capital Deal, Enabling Growth in Favorable Market
Swiss Re has closed a $700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April ...
UK InsurTech Azur Group Sells Tech Services Unit to Senior Managers, Creating New Firm
UK-based InsurTech Azur Group has agreed to sell its technology services business to its senior managers, backed by prominent angel investors. The new company will be called Azur Technology and will ...