insurance News - Daily News Brief

Ever Given Owners Agree to Pay $550m Claim

June 24, 2021 by Fourth Estate Wire

Ever Given’s Japanese owner Shoei Kisen Kaisha and its insurers have agreed on a compensation deal on Wednesday amounting to $550 million to free the container ship. “Following extensive discussions with the Suez Canal Authority’s negotiating committee over the past …

Geico Data Breached, Customer Drivers License Numbers Exposed

April 21, 2021 by Fourth Estate Wire

Geico notified their customers that their personal information, including their driver’s license numbers, has been leaked in a data breach caused by a security bug on their website. “Fraudsters used information about you — which they acquired elsewhere — to …

Ever Given Charged $1B By Suez Canal Authority; Ship Owner Files Suit

April 2, 2021 by Fourth Estate Wire

Egypt said on Wednesday that it may seek approximately $1 billion in compensation after a giant container vessel blocked one of the most crucial waterways in the world for almost a week. According to the Egyptian authorities, the cargo vessel …

Lloyd’s of London Counts Suez Canal Blockage Losses

March 31, 2021 by Fourth Estate Wire

Insurance giant Lloyd’s of London says they will take a “large loss” following the blockage of the Suez Canal by a freight carrier for nearly a week. Lloyd’s Chairman Bruce-Carnegie Brown made comments to the press that the canal blockage …

Major Auto Insurers Sued in Nevada Class-Action Suit

February 24, 2021 by Fourth Estate Wire

Customers of 10 major auto insurance providers have filed a class action lawsuit in Nevada, saying that companies charged excessive premiums during the COVID-19 lockdowns. Auto insurers like Geico, State Farm, USAA, Liberty Mutual and Farmers were among those included …

Nationwide Partners with Walmart to Offer Pet Insurance Policies

February 2, 2021 by Fourth Estate Wire

Nationwide, the largest pet insurer in the United States, has partnered with Walmart to help its customers save time and money when filling pet prescription medications purchased at any of the 4,700 U.S. pharmacies operated by the Arkansas-based retailing giant …

US Life Insurers Are Under Mounting Yield Pressure

December 10, 2020 by Fourth Estate Wire

The decline in interest rates and bond yields in response to the COVID-19 crisis and the expectation that interest rates will be lower for a longer time than expected, will affect the financial performance of the US life insurers.