News

1. Americanas’ $4B Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record

   A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA. Investor and consumer groups are calling for closer scrutiny of the accounting firm after the unveiling …

2. Ruff Ruling for Nationwide: Ohio Court Says Insurer Must Cover Canine Bite

   An Ohio Court of Appeals panel said that Nationwide must indemnify a canine owner whose bulldog bit a passer-by, ruling that a policy exclusion barring coverage for bodily injury for a dog with a prior history of attacking or biting …

3. UK’s Royal Mail Faces Threat From Ransomware Group LockBit

   UK’s Royal Mail is facing a threat from ransomware group LockBit, according to information published on a website, at a time when the British postal and parcel firm is grappling with the fallout of a “cyber incident” from last month. …

4. Quake Latest: Turkey Declares Emergency Rule; Death Toll Rises Across Turkey, Syria

   Turkey declared a three-month state of emergency in areas struck by two massive earthquakes earlier this week, allowing the government more leeway for rescue and reconstruction efforts. Emergency teams are racing against the clock to save potentially thousands of victims …

5. Viewpoint: Interest in America’s World-Class Crop Insurance Continues to Grow

   Now standing firmly one month into 2023, we can look back at the previous year with pride that we were able to meet many of its challenges with the stability and confidence our agricultural community offers to help feed and …

6. Wells Fargo to Pay $300M to Settle Suit Over Auto Insurance Disclosures

   Wells Fargo & Co. agreed to pay $300 million to settle a shareholder lawsuit claiming the bank hid that it had pushed unnecessary insurance on auto loan customers, according to documents filed in U.S. court on Tuesday. The Construction Laborers …

7. People Moves: Liberty Mutual Hires Larson From CNA; Markel Names Gendron CFO; Chaplick Joins Risk Strategies

   Liberty Mutual Appoints Larson President, Financial Lines Liberty Mutual Insurance has appointed Paul Larson as president, financial lines for its Global Risk Solutions (GRS) North America division. Before joining Liberty Mutual, Larson led financial lines at CNA Financial and served …

8. Rogner, Helwig Named to Workers’ Comp Charity Board in Florida

   Kids’ Chance, a charity organization established by the the workers’ compensation industry, has named new board members for its Florida operation. The all-volunteer Kids’ Chance of Florida, like sister organizations in other states, provides scholarships to educate children of workers …