Court Upholds Washington Commissioner’s Action’s Against Armed Citizens Legal Defense Network

The Superior Court of Lewis County upheld Washington Insurance Commissioner Mike Kreidler’s fine and cease-and-desist order against Armed Citizens Legal Defense Network Inc. for illegally acting as an insurer in Washington. In March 2020, Kreidler ordered Armed Citizens to stop acting as an insurer. Armed Citizens sells memberships that include self-defense insurance to cover bail … Read more

Financial Services Firms Face Disclosure Requirements for Biodiversity Investments

DAVOS, Switzerland – Financial firms already struggling with climate-compliance due to unclear measurement metrics will soon face new disclosure requirements for biodiversity, or nature-related, investments. “Nature is a financial risk for business,” Elizabeth Mrema, co-chair of the Taskforce on Nature-related Financial Disclosures (TNFD), told the Reuters Global Markets Forum, adding that $10 trillion is accrued … Read more

Twitter to Pay $150M Penalty over Privacy of Users’ Data

WASHINGTON (AP) — Twitter will pay a $150 million penalty and put in new safeguards to settle federal regulators’ allegations that the social platform failed to protect the privacy of users’ data over a six-year span. The Justice Department and the Federal Trade Commission announced the settlement with Twitter on Wednesday. The regulators allege Twitter … Read more

Canada Releases Draft Guidelines to Manage Financial Risks of Climate Change

A Canadian financial regulator released draft guidelines on Thursday to mitigate the risks of climate change as the country’s financial institutions prepare for mandatory disclosures starting in 2024. The guidelines, issued by the Office of the Superintendent of Financial Institutions (OSFI), call for annual climate-related disclosures on governance, strategy, risk management, metrics and targets, and … Read more

Cancer Patients Seek Damages from Fukushima Nuclear Plant

TOKYO (AP) — A Tokyo court began hearings Thursday in a lawsuit seeking nearly $5 million in damages for six people who were children in Fukushima at the time of its 2011 nuclear power plant disaster and later developed thyroid cancer. The plaintiffs are suing the operator of the nuclear plant, saying radiation released in … Read more

Generali’s 2nd Largest Investor, Who Sought to Oust CEO, Quits Board

Francesco Gaetano Caltagirone, the second largest shareholder in Assicurazioni Generali, has quit its board, the Italian insurer said on Friday, opening a new chapter in a long-standing shareholder row. Caltagirone holds a 9.95% stake in Generali, having beefed up his holding in recent years as tensions mounted between the construction and newspaper magnate on the … Read more

Firefighters Rescue ‘Cinder’ the Elk Calf from Fire’s Ashes

SANTA FE, N.M. (AP) — Firefighters have rescued an abandoned newborn elk calf found amid the ashes of the nation’s largest wildfire as calving season approaches its peak in New Mexico and fires rage across the American West. Missoula, Montana-based firefighter Nate Sink said Tuesday that he happened upon the motionless elk calf on the … Read more

Florida Governor Quickly Signs Insurance, Condo Reform Bills

Florida Gov. Ron DeSantis signed property insurance and condominium maintenance reform legislation into law Thursday, putting an exclamation point on a whirlwind of lawmaking that began just a week ago when the bills were drafted and filed. “This package represents the most significant reforms to Florida’s homeowners insurance market in a generation,” DeSantis said in … Read more

Florida Legislature Passes Property Insurance Reinsurance Bill

By Wednesday morning, it was all over except for the speeches. The five-day special session on the insurance crisis turned into just three days, and without seeing adoption of a single significant modification to two bills that had been carefully crafted to help some property insurers with reinsurance costs and help everyone else with litigation … Read more

Cyber-Hygiene Confidence Low but Insurance Is Making an Impact: Survey

Nearly three quarters of global cyber-risk decision markers recently surveyed said their company experienced at least one cyberattack in the past year and while these attacks have spurred more investment in cyber-risk mitigation efforts, just 3% rated their company’s cyber hygiene as excellent. Broker Marsh partnered with Microsoft Corp. for the survey and report, The … Read more