Ryan Specialty names Keogh, Mulshine co-presidents
Ryan Specialty announced Wednesday that it has named Steve Keogh and Brendan Mulshine co-presidents, succeeding Jeremiah Bickham, who will leave at the end of the year.
New York sues social media companies for allegedly addicting children
New York City filed a new lawsuit accusing Facebook, Google, Snapchat, TikTok and other online platforms of fueling a mental health crisis among children by addicting them to social media.
Cybersecurity remains a top priority: Survey
Insurers and asset managers worldwide continue to make cybersecurity a top priority, according to a Moody’s survey of 102 companies released Wednesday.
Rising Medical Solutions names first chief growth officer
Rising Medical Solutions, a workers compensation services company, on Wednesday announced the appointment of David Dubrof as its first chief growth officer.
California court: Board lacks jurisdiction over ex-NFL player’s claim
A California appeals court Tuesday rejected the Workers’ Compensation Appeals Board’s contention that it has jurisdiction over all claims filed by athletes who signed at least one contract in the state.
Cold brew with sugar and synonyms?
Yogurt brand Chobani urged a federal judge this week to dismiss a lawsuit by Danone, the parent company of rival U.S. yogurt brand Dannon, that alleges Chobani copied the packaging and the slogan “Bright & Mellow” for a competing ready-to-drink cold-brew coffee line, Reuters reported.
Majority in small biz concerned about workplace safety: Survey
Two-thirds of small-business employees have concerns about safety at work, according to a survey released Wednesday by Pie Insurance.
Jaguar Land Rover restarts production after cyberattack
U.K.-based Jaguar Land Rover has begun a phased restart of its factories after a cyberattack forced a month-long shutdown, disrupting production and global retail operations, The Guardian reports. The automaker reported that sales tumbled 17% year on year in the three months to Sept. 30, while wholesale deliveries dropped 24%, in part due to the […]
Australia’s insured cat losses drop 25%
Australia’s insured losses from natural catastrophes fell 25% year on year to 1.97 billion Australian dollars ($1.3 billion) in 2024–25, even as the number of claims dropped only 7%, according to the Insurance Council of Australia, Reinsurance News reports. Declared events during the fiscal year that ended Sept. 30 include the North Queensland Floods […]
Insurers on hook for $87M in vehicle flood damage claims
Insurers in Japan are expected to pay about 13.03 billion Japanese yen (US$87 million) for nearly 17,000 vehicle insurance claims following record-breaking rains that hit Kyushu and Yamaguchi in August, according to the General Insurance Association of Japan, Asian Insurance Review reports. Kumamoto Prefecture was the hardest hit, accounting for more than 12,000 claims, while […]
HSB launches cyber product for UK, Irish businesses
HSB has launched HSB CyberPro, a new cyber insurance and incident response solution for micro and small businesses in the UK and Ireland with revenues up to £10 million, Reinsurance News reports. The product combines financial protection with 24/7 expert support to help firms address cyberattacks and data breaches.
China’s reinsurance market sees higher capacity softer rates: Report
China’s reinsurance market remains stable, with increased capacity leading to softer rates and steady demand across most lines, according to A.M. Best. While catastrophe losses were mild and motor insurance growth has slowed, profitability has improved, and rising electric vehicle sales and expanding non-motor sectors such as agriculture and health are creating new opportunities.
Rokstone hires former QBE underwriters for marine venture
London-based Rokstone has hired former QBE underwriters Sharon Seah and Hui Ling Long as directors in its new Singapore marine hub, further expanding its Asia-Pacific operations, Lloyd’s List reports. The appointments follow the June launch of the hub, led by ex-QBE marine head Rama Chandran, and are backed by a multi-year $25 million Lloyd’s capacity […]
New typhoon threatens Japan
Japan is bracing for major travel disruptions as Typhoon Halong intensifies, threatening transport hubs, airports, rail networks, and tourist destinations across the Kanto region, including Tokyo, Travel and Tour World reports. Authorities warn that heavy rain, flooding, and strong winds over the coming days could severely impact the country’s transportation and tourism infrastructure.
Fitch predicts more insurance market consolidation
Fitch Ratings expects Indonesia’s higher minimum equity thresholds for insurers and reinsurers to accelerate market consolidation as weaker players seek capital or become acquisition targets, Reinsurance News reports. While most Fitch-rated insurers already meet initial 2026 requirements, about 70% will need more equity by 2028, a shift Fitch views as credit positive for stronger firms […]
Business interruption costs dominating cyber claims
Business interruption costs now dominate cyber insurance claims in Australia, with ransoms paid in only 10–15% of cases, according to Emergence Insurance, Insurance News reports. The median claim cost rose to $36,000 Australian dollars ($23,696) last year, driven largely by ransomware-related downtime, as small and midsize enterprises remain especially vulnerable to mounting cyber risks.
US sues Southern California Edison over 2019 Saddleridge wildfire
The U.S. government sued Southern California Edison to help restore National Forest System lands burned in the Saddleridge wildfire near Los Angeles in 2019.
OpenAI, Anthropic eye investor funds to settle AI lawsuits: Report
OpenAI and Anthropic are exploring the use of investor funds to settle potential multibillion-dollar lawsuits, the Financial Times reported on Wednesday.
Topicals increasingly plague comp system
The workers compensation industry continues to grapple with the rise in the use of costlier topical medications for pain management.