Ethereum core developers have opted to prioritize the enabling of staking withdrawals via the Shanghai upgrade first before implementing The Surge-related Ethereum Improvement Proposal (EIP)-4884. As reported by Cointelegraph, the next key milestone on Ethereum’s roadmap is the Shanghai upgrade, which will enable withdrawals for ETH stakers/validators from the Beacon Chain — among other things. EIP-4884 … Read more
New You can now listen to Insurance Journal articles! As a whole, the outlook for the U.S. commercial lines segment continues to be stable, according to AM Best, but the industry rating agency had some warnings in its latest report. Rate changes at renewal remained strong, catastrophe losses have been lower, underlying underwriting results have … Read more
The United States Securities and Exchange Commission (SEC) has issued new guidance that could see publicly traded companies disclose their exposure to crypto assets. In a statement released on Dec. 8, the SEC’s Division of Corporation Finance said that the recent upheaval in the crypto asset market has “caused widespread disruption” and noted that companies … Read more
New You can now listen to Insurance Journal articles! After four years of multidistrict litigation, a federal judge in Pennsylvania has dismissed 1,189 lawsuits claiming the Zostavax shingles vaccine by drugmaker Merck did not do what it was supposed to do and instead caused them to suffer from shingles or shingles-related injuries. U.S. District Court … Read more
A watchdog group has demanded an investigation into Sam Bankman-Fried’s political donations, claiming the former FTX CEO “admitted” to donating tens of millions to Republicans under the table in violation of federal law. The Citizens for Responsibility and Ethics in Washington (CREW) filed the complaint with the Federal Election Commission (FEC) on Dec. 8, citing … Read more
New You can now listen to Insurance Journal articles! It took more than four months, but Fannie Mae and Freddie Mac have now agreed to accept an innovative but temporary solution to Florida’s property insurer rating predicament. The mortgage-buying giants on Wednesday sent letters to primary mortgage lenders, notifying them that they had studied and … Read more
In mid-November, as crypto markets reeled in the aftermath of FTX’s meltdown, Nobel Prize-winning economist Paul Krugman made use of his New York Times column to disparage crypto assets — again. Despite his unquestionable academic credentials, Krugman reiterated a common misunderstanding in his attempt to understand crypto assets — by conflating Bitcoin (BTC) with other … Read more
New You can now listen to Insurance Journal articles! An unlicensed contractor and a deputy sheriff in Florida have been charged in separate incidents of contracting fraud and insurance fraud, state and local authorities said. Ty Lamonte Hillman was arrested this week after the state Department of Financial Services said he took advantage of central … Read more
Central bank digital currency (CBDC) development aims squarely at inclusion, both for the central bank in the national economy and for the people it serves. Meanwhile, the technology for cross-border payments is being developed elsewhere for the most part, according to a new report on the payments industry. The Digital Money Institute (DMI), part of … Read more
UFG Insurance Names Hirtz Houston Branch Manager United Fire Group Inc. (UFG), based in Cedar Rapids, Iowa, has named Diane Hirtz the new branch manager for its Houston, Texas, office. Hirtz brings more than 25 years of diverse insurance experience to UFG, including an extensive leadership background in underwriting and marketing with Chubb Insurance in … Read more