Cryptocurrency exchange Bittrex obtained $300 million in digital asset insurance against theft or collusion for the cryptocurrency it holds in cold storage.<br />Bittrex announced in a blog post on Jan. 29 that the exchange obtained specialty insurance for corporations by insurance firm Lloyd’s of London after working with major insurance broker and adviser Marsh.
One Texas oil worker was killed and three others hospitalized on Wednesday when a Chesapeake Energy Corp well caught fire during service work, a spokesman for the company said.
CBD products have exploded since 2018 when the Agricultural Improvement Act removed hemp-derived CBD from the list of Schedule I drugs. Everything from CBD infused beers to gummy bears that claim to use the drug to help battle insomnia have hit the market.
Data is a tricky balancing act: You need it to make sound decisions, but if the numbers become the be-all and end-all, it can lead to some pretty questionable corporate behaviors and leadership decisions.
The dumping of five candidates from Australia’s 2019 federal election for offensive social media posts served as a reminder of the damage that a poorly managed social media profile can do to a person’s career. An ill-timed comment, a thoughtless response, an opinion that you might change or an action you may come to regret later can’t be erased in a digital era, and so your social media profile can haunt and derail your career.
In late December, the popular Northeast convenience store chain Wawa disclosed hackers had obtained payment data for some of its customers. Now, the scope and the fallout from the hack is becoming apparent, as criminals this week reportedly began to sell millions of credit and debit card accounts on the Internet.
Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said.
Much has been made in recent years of the need to attract more professionals and particularly those in their early career years to the insurance industry. Efforts that have coalesced around an annual #insurancecareersmonth in February are commendable, but they are hampered by a simple fact that should be acknowledged and addressed: “insurance” is a boring word.
Years ago, an adjuster would be sent out to look at a claim after a client put their pot fresh off the stove directly on their linoleum countertop, leaving a round burn mark. Compare that to today, when a $50,000 basement flood claim might be handled entirely over the phone.
The ongoing outbreak of bushfires in Australia are now said to be the costliest example from an insurance and reinsurance market loss perspective, as the latest data shows losses reached A$1.65 billion (US $1.13bn).
Leaders in the insurance industry anticipated that 2019, much like 2018, would be a tumultuous year for flood insurance with large catastrophic events, a legislative impasse, and administrative uncertainty. For the National Flood Insurance Program (NFIP) and private flood insurance, all were true, and this may continue into 2020.
The Institute of Risk Management (IRM) has announced the formation of the Climate Change Special Interest Group (CC SIG) for its members to better understand the risks associated with climate change.
A new member/fellow benefit is coming to CLM’s webinar series in 2020: In addition to offering topical and practical information nearly every week, many of these webinars will now qualify for an hour of continuing education in certain states.
At least eight people were killed early Monday in an explosive fire that consumed dozens of vessels docked at a marina along the Tennessee River in northern Alabama.
A public adjuster in Delaware County has been charged with insurance fraud and related offenses for allegedly stealing $722,000 from a manufacturer in the Bridesburg section of Philadelphia.
