News
Ozempic maker Novo Nordisk hit with $25 million ransom demand after claimed data breach
5+ hour, 19+ min ago (221+ words) A hacking group is threatening to sell more than a terabyte of stolen Novo Nordisk data after the pharmaceutical giant refused to pay a $25 million ransom demand, Reuters reported on Tuesday. Fulcrum Sec, a cyber extortion group that emerged in…...
Georgia court dismisses trucking firm's appeal against Yates Insurance Agency
2+ hour, 16+ min ago (356+ words) A Georgia trucking company's appeal against an insurance agency is over - not on the facts, but because it missed a filing deadline." On June 15, 2026, the Court of Appeals of the State of Georgia dismissed the appeal in Four Seasons Trucking,…...
GEICO sues medical supplier over alleged $1. 9 million no-fault brace scheme
6+ hour, 19+ min ago (238+ words) GEICO is suing to claw back more than $1. 9 million it says it paid a New York medical supplier for braces injured drivers never needed. The insurer sued Pretoria Medical Supply Inc. and its owner, Yevgeniy Ovsyannikov, on June 15, 2026, in the…...
Japan's young consumers more likely to overlook insurance fraud
14+ min ago (452+ words) Insurance Business Japan's young consumers more likely to overlook insurance fraud Efforts to sharpen public awareness are in the works Younger consumers in Japan are more likely to tolerate certain fraudulent insurance claim behaviours and less likely to recognize them…...
Marsh opens captive access to more multinationals amid benefits cost surge
19+ min ago (483+ words) As double-digit healthcare cost inflation squeezes multinational employers, Marsh has launched Marsh Nexus Captive Solution, a cell captive structure that helps organisations control the costs of their international employee benefits programs. The product operates through Marsh's Mangrove Protected Cell Company,…...
AI's and the paradox of New Zealand's insurance talent problem
18+ min ago (343+ words) AI's and the paradox of Zealand's insurance talent problem Insurance Business AI's and the paradox of New Zealand's insurance talent problem New global study confirms AI rewards expertise and erodes routine work Pw C's 2026 Global AI Jobs Barometer, published yesterday,…...
Allianz Partners' nib deal signals a new era for ANZ travel distribution
37+ min ago (395+ words) "This acquisition is a landmark moment for Allianz Partners Australia," said Chris Mc Hugh (pictured), CEO of Allianz Partners Australia. "It will significantly expand our capacity to reach and serve Australians through their preferred channel with the world-class insurance and…...
Management liability was broken, here's what brokers say needed fixing
39+ min ago (474+ words) When Pacific Indemnity's directors and officers (D&O) practice manager Adam Suplina (pictured) began developing the company's new management liability product, he did something that sounds straightforward but is probably rarer than it should be in specialty insurance: he asked brokers…...
Fertility insurance tied to Japan's record multiple pregnancy spike
1+ hour, 9+ min ago (705+ words) Insurance Business Fertility insurance tied to Japan's record multiple pregnancy spike The number of covered transfers depends on when a patient starts treatment Under the current program, women who began fertility treatment before age 40 are covered for up to six…...
As wildfire and flood losses climb, insurers push to make rebuilds more resilient
10+ hour, 37+ min ago (607+ words) Canada's rising flood and wildfire losses are forcing the insurance industry to confront an uncomfortable question: who carries the cost as coverage in the highest-risk regions grows more expensive, and eventually unaffordable for some? "The underlying risk conditions for some…...