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Spring Colorado Snowstorm Knocks out Power for 210K
A late spring Colorado snowstorm dumped several inches in the Denver metro area Saturday and knocked out electricity for about 210,000 customers, officials said. The wet snow weighed down tree branches and sent them toppling onto power lines, the KUSA …
POSTED MAY 23, 2022 2:29 PM |
Data Breach-Related Securities Suit Filed Against Cyber Firm Okta
Following a trend in directors and officers litigation involving cybersecurity firms, Okta Inc. now faces a securities class action lawsuit alleging the firm made false and misleading statements, including that it did not disclose and then downplayed the severity of …
POSTED MAY 23, 2022 2:23 PM |
People Moves: Guy Carpenter Names N. America GC Access Exec Team; Marsh Promotes Perry for Political Risk & Structured Credit; WTW’s Hodgkinson to Join BMS Asia
This edition of International People Moves details appointments at three brokers: Guy Carpenter, Marsh and BMS. A summary of these new hires follows here. Guy Carpenter Announces GC Access Leadership in North America Reinsurance broker Guy Carpenter announced the appointments …
POSTED MAY 23, 2022 10:57 AM |
Insurer FWD Wins Approval for Hong Kong IPO
FWD Group Holdings Ltd., the Asian insurer backed by Hong Kong billionaire Richard Li, has won approval for its planned initial public offering in the city, according to a person with knowledge of the matter. The company received the green …
POSTED MAY 23, 2022 9:56 AM |
Volkswagen Targeted in Court Case That Seeks to Eliminate Polluting Cars by 2030
First it was oil giant Shell Plc, now it’s the turn of Europe’s biggest carmaker. In the wake of a landmark Dutch ruling a year ago which ordered Shell to cut its emissions by 45% by 2030, a German organic …
POSTED MAY 23, 2022 9:29 AM |
Global Power Grids Face Biggest Test in Decades With Summer Blackouts Expected
Global power grids are about to face their biggest test in decades with electricity generation strangled in the world’s largest economies. War. Drought. Production shortages. Historically low inventories. And pandemic backlash. Energy markets across the planet have been put through …
POSTED MAY 23, 2022 9:07 AM |
Swiss Re and UBS Among Founding Buyers of Credits From Carbon Removal Scheme
Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges …
POSTED MAY 23, 2022 8:21 AM |
Memo to Brokers: Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer Markel UK. And perhaps the ongoing …
POSTED MAY 23, 2022 6:49 AM |
British Insurance Brokers’ Assn., Allianz Create Digital Guide to Combat Underinsurance
The British Insurance Brokers’ Association (BIBA) and Allianz have developed a digital guide to support brokers in helping their customers avoid the risks of being underinsured. Underinsurance occurs when you have insufficient insurance cover that leaves you responsible for a …
POSTED MAY 23, 2022 6:48 AM |
FDA Says Abbott Baby Formula Plant on Track to Reopen in 1-2 Weeks
Abbott Laboratories and the U.S. Food and Drug Administration are on track to reopen Abbott’s baby formula manufacturing plant in Sturgis, Michigan, within one or two weeks, FDA Commissioner Robert Califf said on Thursday. Abbott, the biggest U.S. supplier of …
POSTED MAY 23, 2022 5:34 AM |
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