Breaking News
Lloyd’s of London underwriters face lawsuit from pandemic-covered cinema chain
SCGM, Inc. – the name behind Star Cinema Grill, Hollywood Palms Cinema, and District Theatre – has taken certain Lloyd’s of London underwriters to court over the American cinema chain’s US$1 million (around £811,000) pandemic coverage.
Filed in the US District Court for the Southern District of Texas, the insurance contract complaint features SCGM’s claim which was denied last month due to COVID-19 not being a listed disease in the policy.
The plaintiff, represented by Hawash Cicack & Gaston LLP, argues that while COVID-19 is not specified, the policyholder is covered against pathogens including variations or mutations of SARS-associated coronavirus.
“For medium-sized businesses that purchase this policy, it gives them peace of mind that they are going to have some sort of revenue,” partner Michael Hawash was quoted by a KHOU 11 report as saying.
Hawash asserted: “Star Cinema Grill has an expectation, since it’s done its part, it’s paid its premium, that the insurance company is going to stand up and do what its part is, which is to pay the claim.”
In recent days underwriters at the centuries-old insurance marketplace have been sued by the Chickasaw and Choctaw tribes in Oklahoma as well as by Florida-based Prime Time Sports Bar.
- EXCLUSIVE: “Stable & Secure?” – Simone Loefgen, Commerzbank in ‘Discover Sibos 2025’ Read more
- CBI Drives Verification of Payee Compliance in Italy Read more
- Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers Read more
- Evertec Announces Closing of Controlling Stake in Tecnobank, Expanding Product Offering in Brazil Read more
- EXCLUSIVE: “Scaling Safely – Without Debanking” – Imam Saygili, Flagright in ‘The Fintech Magazine’ Read more
Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers
Lastro, a Brazilian artificial intelligence proptech, announced a Series A round of $15 million led by Prosus Ventures, a global tech operator and investor and major shareholder in iFood and OLX. FJ Labs and Endeavor Scale-Up Ventures also participated in the round, along with existing investors Canary, QED and 1Sharpe Ventures.
Evertec Announces Closing of Controlling Stake in Tecnobank, Expanding Product Offering in Brazil
EVERTEC, Inc. (NYSE: EVTC) (“Evertec”, the “Company”, “we” or “our”) today announced that the Company has closed the previously announced transaction to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A.
JCB Launches Strategic Guide for European Merchants Looking to Tap into Asian Travellers’ Spending Power
JCB today announced the launch of a new strategic guide, “Asian Traveller Personas - Inspiring European Merchants to Unlock Greater Spend.” This comprehensive guide provides European merchants with key insights into the diverse motivations and spending habits of consumers coming from Asia, enabling them to craft bespoke experiences and unlock new revenue opportunities.
On-Chain KYC(R) 2.0 Transforms Digital Identity with Privacy-Preserving Blockchain Attestations
Blockpass, the identity verification and compliance service for blockchain and beyond, is excited to announce the launch of its new and improved On-Chain KYC® 2.0. With the adoption of crypto growing rapidly, Blockpass has created a flexible, powerful solution for blockchain identity verification and attestation which doesn’t compromise on privacy or security.
Triple-A Adopts iPiD’s Payee Verification to Bring Trust to Stablecoin and Fiat Payments Globally
iPiD, the leading provider in Know Your Payee (KYP) solutions worldwide, today announced it will power payee verification for Triple-A, a Singapore-headquartered and Monetary of Authority of Singapore (MAS)-licensed digital currency payment institution.
$1,700 Lost per Australian to Fraud in 2025 Amid AI Advances and Peak Season Risks, According to Adyen
Adyen, the global financial technology platform, revealed that fraud losses in Australia are on the rise, set to intensify as the peak shopping season approaches.
European Central Bank Concludes a Framework Agreement with Feedzai to Detect and Prevent Fraud for Forthcoming Digital Euro
The European Central Bank (ECB) has concluded a framework agreement in ranking with Feedzai, the world’s leading RiskOps platform for financial crime prevention, as the first-ranked tenderer, to provide the central fraud detection and prevention mechanism for the digital euro (link to contract award notice and announcement on ECB’s website).
EXCLUSIVE: “Stable & Secure?” – Simone Loefgen, Commerzbank in ‘Discover Sibos 2025’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
CBI Drives Verification of Payee Compliance in Italy
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers
Lastro, a Brazilian artificial intelligence proptech, announced a Series A round of $15 million led by Prosus Ventures, a global tech operator and investor and major shareholder in iFood and OLX. FJ Labs and Endeavor Scale-Up Ventures also participated in the round, along with existing investors Canary, QED and 1Sharpe Ventures.
Evertec Announces Closing of Controlling Stake in Tecnobank, Expanding Product Offering in Brazil
EVERTEC, Inc. (NYSE: EVTC) (“Evertec”, the “Company”, “we” or “our”) today announced that the Company has closed the previously announced transaction to acquire a controlling stake in Tecnobank Tecnologia Bancária S.A.
EXCLUSIVE: “Scaling Safely – Without Debanking” – Imam Saygili, Flagright in ‘The Fintech Magazine’
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
APIs Driving Embedded Finance Innovation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
FinScan’s AML Software Solutions Integrate with LSEG World-Check On Demand
FinScan®, an Innovative Systems solution and leading provider of advanced anti-money laundering (AML) compliance solutions, today announced integration with and support for LSEG World-Check On Demand. FinScan is one of the first LSEG partners to announce support of the solution.