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Jury Finds No Malpractice by NY Law Firm in Patriot National Downfall
A Broward County jury on Thursday exonerated the Simpson Thacher & Bartlett law firm, finding the large New York firm’s lawyers were not negligent in the downfall of Patriot National, the Florida insurance services firm that went bankrupt a decade …
POSTED AUGUST 07, 2026 3:27 PM |
Major Hedge Funds Targeted in Wave of Attempted Cyberattacks
Hackers launched a wave of sophisticated attacks on Wall Street firms in recent days, targeting information systems at major money managers, according to people familiar with the matter. Point72 Asset Management informed investors on Wednesday that it had been attacked, …
POSTED AUGUST 07, 2026 3:02 PM |
Allstate Introduces Large Language Model, ALLIE
Allstate CEO Tom Wilson said the insurer has a “technology-drive strategy, not a strategy supported by technology.” And the next step in the strategy is the build of ALLIE – Allstate’s Large Language Intelligent Ecosystem. Speaking to analysts during a …
POSTED AUGUST 07, 2026 1:59 PM |
Washington Arson Suspect Timed Fire for High Wind Day
The 37-year old man suspected of starting one of the fires burning around Spokane, Washington told a detective that he planned the arson attack for Sunday to coincide with a “high winds” day, according to court documents. That blaze was …
POSTED AUGUST 07, 2026 12:55 PM |
AIG’s General Insurance Q2 Underwriting Income Up 10%
Second quarter 2026 underwriting income in American International Group’s (AIG) General Insurance segment increased nearly 10% compared with the prior year, to $686 million. Insurance financial results for Q2 included catastrophe losses of $210 million, and increase over the $170 …
POSTED AUGUST 07, 2026 12:14 PM |
Munich Re Posts Better-Than-Expected Profit Amid Low Loss Claims
German reinsurer Munich Re on Friday posted a 6% rise in net profit in the second quarter, defying expectations for a drop and lifted by low major loss claims. Net profit in the quarter of €2.211 billion ($2.55 billion) compares …
POSTED AUGUST 07, 2026 9:11 AM |
AXA XL to Acquire Corporate Intelligence and Cybersecurity Consultancy, S-RM
AXA XL announced it has entered into an agreement to acquire S-RM, the London-based specialist corporate intelligence and cybersecurity consultancy — raising its shareholding from approximately 49% to 100% ownership. Financial details of the deal, which is expected to close …
POSTED AUGUST 07, 2026 8:34 AM |
Proposed Hormuz Passage Deal Not Feasible for Shipping Industry, Sources Say
A proposed deal between Iran and Oman that would give Tehran control over ships entering the Gulf through the Strait of Hormuz is not easily workable due to U.S. sanctions and restrictive insurance clauses on any payments, four industry sources …
POSTED AUGUST 07, 2026 6:27 AM |
NOAA Maintains Forecast for Below-Normal Atlantic Hurricane Season
Nearly halfway through the 2026 Atlantic hurricane season, NOAA’s prediction of below-normal activity in the Atlantic basin remains unchanged. Today, forecasters from NOAA’s National Weather Service updated the number of expected named storms to 7-13 (with winds of 39 mph …
POSTED AUGUST 07, 2026 6:02 AM |
People Moves: Aon Names Fletcher Head of M&A, Transaction Advisory, North America
Aon named Tim Fletcher head of M&A, transaction advisory and financial services, North America. Fletcher has over 20 years of industry experience and has served as national practice leader for Aon’s Financial Services Group (FSG) for five years. He will …
POSTED AUGUST 07, 2026 5:50 AM |
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