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New York’s Global Warming Suit Against Oil Companies Tossed
A U.S. judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. U.S. District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp., Chevron Corp., …

POSTED JULY 20, 2018 12:50 PM
Thieves Steal $10 Million of Cobalt from Vollers Group Rotterdam Warehouse
It’s not just hedge funds that have noticed the cobalt boom — thieves have too. About 112 metric tons of cobalt was stolen from a warehouse in Rotterdam run by Vollers Group Gmbh earlier this month, according to a statement …

POSTED JULY 20, 2018 11:59 AM
U.S. Energy Regulator Pushes for Disclosure of Cyber Attacks on Electric Grid
The U.S. government on Thursday asked power generators to disclose more information about cyber attacks amid growing concern that foreign hackers could disrupt the electric grid. The Federal Energy Regulatory Commission (FERC), an energy industry regulator, called for the power …

POSTED JULY 20, 2018 10:54 AM
Climate Change Is Beginning to Shift Planet’s Seasons: Scientists
Pouring through four decades of satellite data, climate scientists have concluded for the first time that humans are pushing seasonal temperatures out of balance—shifting what one researcher called the very “march of the seasons themselves.” Ever-mindful of calculable uncertainty and …

POSTED JULY 20, 2018 10:37 AM
Markel Licensed to Form Insurer in Germany, Securing Post-Brexit EU Access
Markel Corp. announced it has been granted a license by the German federal financial supervisory authority, BaFin, to establish an insurance company in Germany. Following Brexit, the United Kingdom’s exit from the European Union, Markel Insurance SE (MISE) will be …

POSTED JULY 20, 2018 10:11 AM
Strategic Blockchain: Xceedance and ChainThat Gain Critical Mass
Xceedance decided to jump on the blockchain bandwagon late last year – but rather than building its own platform, it invested in ChainThat, a specialist provider of blockchain solutions for the insurance and reinsurance industry. ChainThat made a similar move …

POSTED JULY 20, 2018 9:59 AM
AXIS Insurance Promotes Randell to Head of Canada Insurance & Chief Agent, Canada
AXIS Insurance, a business segment of AXIS Capital Holdings Ltd., announced the promotion of Brad Randell to head of Canada Insurance, and chief agent, Canada, subject to review and/or approval of various Canadian regulatory entities. Randell will oversee AXIS’ insurance …

POSTED JULY 20, 2018 9:02 AM
Drug Firms Sue Illegal Web Sites for Opioid Crisis
Two pharmaceutical companies say the real culprits in the opioids epidemic are illegal dealers of the painkillers and want them to be on the hook financially for any damages potentially assessed against drugmakers. Endo International Plc and Mallinckrodt Plc sued …

POSTED JULY 20, 2018 5:00 AM
Wells Fargo Begins Refunds of Add-On Product Fees
Wells Fargo & Co. is issuing refunds for monthly fees it charged on so-called add-on products that customers may not have fully understood. “We are reviewing add-on products sold to consumers by the bank or its service providers and if …

POSTED JULY 20, 2018 5:00 AM
Cybersecurity Tops D&O Liability Risks
Cybersecurity is the top directors and officers (D&O) liability concern for organizations today, while claims brought by employees, including claims for harassment or discrimination, and regulatory enforcement risks are also critical D&O exposures. According to Willis Towers Watson’s 2018 Management …

POSTED JULY 20, 2018 5:00 AM

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