Bankrupt subprime auto dealer Tricolor Holdings is preparing to sue the company’s founder for allegedly masterminding a massive fraud that led to the company’s collapse into bankruptcy, according to a court filing. Daniel Chu is already facing probes by the …
Tricolor Trustee Files Suit in Texas for Auto Dealer’s Collapse Read More »
Louisiana Insurance Commissioner Tim Temple approved SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange’s requests for a 7.5% average rate decrease on the carriers’ more than 73,000 homeowners policyholders and 17,000-plus dwelling policyholders. Related: Why Reciprocal Insurance Exchanges Are Back …
Louisiana Insurance Commissioner OKs SureChoice, Elevate Homeowners Rate Drops Read More »
Westfield Specialty International announced its intention to expand its business from a Lloyd’s-only vehicle into the company market. Subject to regulatory approval, Westfield Specialty will launch a Luxembourg subsidiary and use this platform to underwrite risks on company paper alongside …
Westfield Specialty to Launch Luxembourg Subsidiary, Expanding Into Company Market Read More »
The American Property Casualty Insurance Association and the National Association of Mutual Insurance Companies were among a handful of organizations to send a letter to federal lawmakers in support of a bill to reform the Federal Emergency Management Agency. In …
Industry Trade Associations Throw More Support Behind FEMA Reform Read More »
French insurer AXA SA said it’s exercising greater caution on the artificial intelligence build-out when backing financing for the sector, amid growing awareness of emerging risks in private markets. “We are convinced of the medium-term trend, but we want to …
AXA Warns on Data Center ‘Gambles’ as Private Credit Risks Rise Read More »
Enterprise Risk Associates (ERA), an insurance brokerage platform focused on mergers and acquisitions of independent insurance agencies, announced it has received an investment from Macquarie Capital Principal Finance that will provide up to $150 million to support ERA’s acquisition strategy. …
Enterprise Risk Associates Gets $150M From Macquarie to Fund Agency Acquisitions Read More »
South Korea’s biggest online retailer Coupang said on Wednesday that CEO Park Dae-jun has resigned, taking responsibility for a huge data breach at the company that has triggered a growing backlash in Asia’s fourth-largest economy. Coupang “deeply apologizes for causing …
Coupang CEO Resigns After Online Retailer Hit by Massive Data Breach Read More »
More than 30 U.S.-sanctioned oil vessels doing business in Venezuela could face punishment by Washington after the Coast Guard seized a supertanker carrying Venezuelan crude for export, according to shipping data. The seizure, announced by President Donald Trump on Wednesday, …
Over 30 Sanctioned Ships in Venezuela at Risk After US Tanker Seizure Read More »
The U.S. has seized a sanctioned oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, a move that sent oil prices higher and sharply escalated tensions between Washington and Caracas. “We’ve just seized a tanker on …
US Seizes Sanctioned Oil Tanker Off Coast of Venezuela, Trump Says Read More »
The U.S. Justice Department has withdrawn from an agreement with the city of Houston to curb illegal dumping in Black and Latino neighborhoods, part of the Trump administration’s broad dismantling of environmental justice initiatives. Federal authorities quietly ended the monitoring …
DOJ Stops Monitoring Houston Illegal Dumping in Retreat From Environmental Justice Read More »
