News
Time For Insurers to Reassess ‘Grim’ Cyber Insurance Market: AM Best
With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, "prospects for the U.S. cyber insurance market are grim," according to a report ...
Allianz, UBS, Generali, DWS Submit Bids for NN Group’s Asset Manager
DWS Group and Assicurazioni Generali SpA are among suitors that submitted initial bids for the asset management arm of NN Group NV, people familiar with the matter said. The unit, known as NN ...
Federal Lawmakers Probing CNA Ransom, Cyber Insurance Payouts
Late last week, federal lawmakers requested information from Chicago-based insurer CNA about a March 21 cyber attack on the company and about a reported $40 million ransom CNA paid to end the ...
Barbershops to Symphony: Judge Nixes Hundreds of Business Interruption Claims
A federal judge in Seattle has dismissed lawsuits filed by hundreds of Washington state businesses seeking insurance coverage for revenues lost because of COVID-19 public health orders. U.S. District ...
First-Quarter P/C Underwriting Income Down 53%
The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53 percent as compared with the same prior-year period, according to preliminary financial ...
‘We Can’t Do It Alone,’ Says White House in Urging Companies to Upgrade Cybersecurity
The White House warned corporate executives and business leaders on Thursday to step up security measures to protect against ransomware attacks after intrusions disrupted operations at a major ...
Supreme Court Narrows Reading of Computer Fraud Law in Police Case
A Georgia police officer did not violate federal computer fraud law when he used his patrol car computer to access information on a license plate in exchange for money, even though his action ...
‘We Cannot Postpone Again,’ Says Tokyo Olympic Games Boss
TOKYO – The head of Japan's Olympics organizing committee ruled out on Thursday another suspension of the Games, despite deep disquiet at the prospect of thousands of athletes and officials ...