Missouri Roofing Contractor Cited for 21 Violations in Fall Hazard Exposures

Federal workplace safety inspectors have cited a Missouri roofing contractor for 21 violations for illegally exposing roof workers — five times in seven weeks — at six Wentzville residential worksites to the dangers of fall hazards, the construction industry’s leading …

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Hospital Operator Ascension Warns of Suspected Cyberattack; Operations Disrupted

Hospital operator Ascension reported disruptions to its clinical operations on Wednesday due to a suspected cybersecurity incident and advised business partners to temporarily disconnect from its systems. Earlier this year, UnitedHealth, the largest U.S. health insurer, had reported a cyberattack …

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Progressive Set to ‘Maximize’ Growth, Building on Q1

When Progressive’s chief executive officer weighed the words that should go into the management discussion section of the company’s first-quarter 10-Q report, she considered two possibilities to describe anticipated growth for the balance of 2024. “Was ‘maximize’ growth the right …

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Hub International Acquires Certain Assets of Canada’s 2197747 Alberta Ltd.

Hub International Ltd., the Chicago-based insurance brokerage and financial services firm, announced the acquisition of certain assets from 2197747 Alberta Ltd., which is in turn partially owned by Carianne O’Connor. Terms of the transaction were not disclosed. Located in Edmonton, …

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In Tesla Autopilot Probe, US Prosecutors Focus on Securities, Wire Fraud

U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking …

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International General Insurance Holdings Begins Trading at Lloyd’s on May 9

International General Insurance Holdings Ltd. announced it will begin trading for the first time at Lloyd’s on May 9, 2024, demonstrating the company’s long-term commitment to the London market. Located in the Lloyd’s underwriting room at One Lime Street, IGI …

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Worsening Weather Igniting $25 Billion Weather Derivatives Market

Marty Malinow’s mom never could get her head around what her son did for a living. To friends, she said he was “a stockbroker that does something with the weather.” Malinow couldn’t really object — he knew most people had …

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Bounce House Swept Up By Wind Kills One Child and Injures Another

One child was killed and another injured when a bounce house was swept up by wind in Casa Grande, Arizona, in what local authorities called “a tragic accident.” Saturday’s fatality occurred after a strong gust sent the inflatable toy house …

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EU Aims to Target 11 Russian Ships Involved in Sanctions-Busting

The European Union has proposed restrictions on 11 vessels that contribute to Russia’s ability to sustain its war against Ukraine. The proposed measures, if approved by member states, would ban the ships from accessing EU ports and anchorage zones, and …

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HSB Opens Office in the Kingdom of Saudi Arabia

HSB announced the opening of a new office location in Al-Jubail, Saudi Arabia, on May 6. “One of our strategic priorities is to increase accessibility to HSB’s inspection and engineering services, particularly in growing markets such as Saudi Arabia,” said …

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Status of Uber, Lyft Gig Workers Riding On Massachusetts Court Fight

Massachusetts has become the latest front in a years-long battle in the United States over whether ride-share drivers for Uber and Lyft should be treated as independent contractors or employees entitled to benefits and wage protections. The state’s top court …

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Brazil Rejects Vale, BHP Settlement Offer for Deadly 2015 Mining Disaster

Brazil and the state of Espirito Santo have rejected a proposal by miners Vale and BHP regarding reparations for the deadly 2015 Mariana tailings dam burst, the federal government said on Friday. The statement did not include Minas Gerais state, …

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Appeals Court Rejects Climate Change Suit by Young Oregon Activists Against Government

A federal appeals court panel last week rejected a long-running lawsuit brought by young Oregon-based climate activists who argued that the U.S. government’s role in climate change violated their constitutional rights. The 9th U.S. Circuit Court of Appeals previously ordered …

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Israeli Cyber Security Startup Apex Gets Initial Investment From OpenAI’s Altman

Israeli cyber security startup Apex, which focuses on protecting the rapid use of artificial intelligence (AI) tools, said on Thursday it received an undisclosed investment from OpenAI Chief Executive Sam Altman. In all, Apex raised $7 million in a seed …

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AXA’s Q1 Premiums Rise 6%, Led by P/C Business Growth

AXA, Europe’s second-largest insurer, reported a 6% increase in total revenue during the first quarter to €34 billion ($36.4 billion), compared with €31.8 billion ($34.1 billion) in Q1 2023. The increase in Q1 gross written premiums (GWP) and other revenues …

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People Moves: Canopius Hires CUO and CFO in Bermuda From Validus and AXA XL; MS Amlin Taps HDI’s Healy as Head of Property & Crisis Management Claims

This edition of International People Moves details appointments at global specialty re/insurers Canopius and MS Amlin. A summary of these new hires follows here. Canopius Hires CUO and CFO in Bermuda From Validus and AXA XL Canopius, the global specialty …

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Acrisure Acquires Scottish Broker WH&R McCartney

Acrisure, the Grand Rapids, Michigan-based insurance broker and fintech specialist, announced it has acquired Scottish insurance broker, WH&R McCartney. Based in Motherwell and led by Graeme Robb and Alan Kirkwood, WH&R McCartney is a general commercial SME insurance broker operating …

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Yemen’s Houthis Rebels Attack Portuguese-Flagged Ship in First Deep-Sea Assault

A Portuguese-flagged container ship came under attack by a drone in the far reaches of the Arabian Sea, corresponding with a claim by Yemen’s Houthi rebels that they assaulted the ship there, authorities said Tuesday. The attack on the MSC …

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Tornadoes Damaged 7,200 Residential Properties, Left $2B in Reconstruction Costs

The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127 tornadoes spun out of a severe …

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Markets/Coverages: Relm Launches Employment Practices Cover to Fill Capacity Needs

Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency, include: An expansion of third-party liability coverage to …

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