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Friday, September 30, 2022

Florida Ian Losses Could Reach $47B, Sinking More Insurers, CoreLogic Calculates

Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new analysis. “This is the costliest Florida …

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Australian Police Aim to Protect 10,000 Optus Customers After Cyber Attack

Australian authorities said on Friday they have commenced an operation to protect the personal information of 10,000 people whose data may have been shared online after a cyber attack on Optus, the country’s second-largest telco. The efforts come three days …

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Hospitals, Utilities Face Highest Exposure to Risk of Cyber Attacks: Moody’s

Around $22 trillion of global debt rated by Moody’s has a “high” or “very high” exposure to the risk of cyber attack, the ratings agency said in a report on Thursday, with hospitals and utilities seen at the greatest risk. …

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Florida Hospital Gets Hit from Above and Below in Hurricane

Hurricane Ian swamped a Florida hospital from both above and below, the storm surge flooding its lower level emergency room while fierce winds tore part of its fourth floor roof from its intensive care unit, according to a doctor who …

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Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders

Investors who backstop Florida’s insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and push up insurance costs for residents. Ian’s landfall hammered Florida …

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TotalEnergies Reports Unusual Drone Activity Near North Sea Oil & Gas Field

TotalEnergies SE said it spotted an aerial drone close to an oil field in the Danish North Sea, intensifying concerns of an energy conflict erupting in Europe. Unusual drone activity was seen near its Halfdan B oil and gas field …

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Sex Abuse Allegations Spread Against Cheerleading Industry

Sprawling allegations of abuse against cheerleaders reached Tennessee on Monday in a case that escalates the accusations facing some of the sport’s top institutions. An adult coach sexually assaulted teenage boys at Premier Athletics, according to allegations in a federal …

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Thursday, September 29, 2022

Transgender Teacher, Maryland School District Settle Lawsuit

UPPER MARLBORO, Md. (AP) — A transgender teacher who said she was harassed by students, parents and colleagues has settled a lawsuit with a Maryland school district with an agreement that includes policy changes and training. Attorneys for Jennifer Eller …

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Russia Gas Pipelines Now Have Four Leaks, Blamed by Some on Sabotage

A new leak has been discovered on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea, bringing the total number of ruptures to four, according to the Swedish Coast Guard’s Command Center. Gas has been bubbling up …

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Optus Must Pay Cost of Replacing Hacked Customer Documents: Australia Government

Australian telecoms giant Optus must pay the cost of replacing the passports and drivers licenses of millions of customers whose personal information was stolen in one of the country’s biggest data breaches, the government said on Thursday. The theft of …

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Taming Global Supply Chain Risks, Holistically

While supply chain risks are insurable, many products do not cover non-damage business interruption, and companies could find they aren’t covered for shipping delays that don’t involve physical damage. As a result, many risk experts believe that if insurance isn’t …

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Wednesday, September 28, 2022

Intensifying Storms Are Fueling a Record $17 Billion Bond Barrage

Bonds sold to help US utilities recoup losses from natural disasters are seeing an unprecedented boom, with the latest burst of issuance generated by the deadly February 2021 storm that paralyzed Texas as it struck a large swath of the …

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Woman Who Gave Birth on Cell Floor Sues, Says Nurses Ignored Her Cries for Help

A woman who said she was left to give birth to her baby alone on the dirty floor of her jail cell in Maryland filed a federal lawsuit Tuesday alleging that jail nurses ignored her screams and pleas for helps …

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California Cites Home Health Agencies $2M for Misclassifying 66 Workers

The California Labor Commissioner’s Office cited Angel Connection Nursing Care and Angel Connection Nursing Services for improperly misclassifying 66 home health care workers as independent contractors. Investigators determined that Annabelle Ricasata, the owner of Angel Connection Nursing Care, and a …

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$52B Storm Moveable Barriers, Gates Eyed for Waterways Hit by Sandy

A decade after Superstorm Sandy pummeled New York and New Jersey in one of the costliest storms in U.S. history, the federal government is proposing a $52 billion plan to build movable barriers and gates across bays, rivers and other …

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California to Allow Lawsuits Against ‘Cyber Flashers’

Californians who find themselves victims of “cyber flashing” can sue under a new law signed by Gov. Gavin Newsom. The law aims to punish and deter those who send unsolicited sexually explicit messages via text, email, or other electronic means. …

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Florida Keys Boat Captain Charged in Fatal Parasailing Accident

A boat captain has been charged with manslaughter in a Memorial Day parasailing crash in the Florida Keys that killed a 33-year-old Illinois woman and injured her young son and nephew. Daniel Gavin Couch, 49, was booked into the Monroe …

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How to Avoid Being a ‘Sitting Duck’ During a Disaster-Related Ransomware Attack

Atlantic Hurricane Season, which runs from June 1 through November 30, had a slow start this year but has begun ramping up as Hurricane Fiona made its way across the Atlantic last week and brought with it damage across Puerto …

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EU Weighs Ban on Shipping Russian Oil as Part of Price Cap

The European Union is considering adding shipping restrictions to its oil sanctions as the bloc continues to discuss the introduction of a price cap on Russian oil, according to people familiar with the matter. A shipping ban would prohibit EU …

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Oklahoma Town Facing Probation From National Flood Insurance Program

Moffett, Oklahoma could soon face probation by the National Flood Insurance Problem due to deficiencies and violations with the town’s floodplain management program, FEMA announced this week. FEMA will place the town on probationary status on Nov. 26 unless Moffett …

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Tuesday, September 27, 2022

Gun Violence Costs the U.S. $557 Billion a Year

Gun violence that causes tens of thousands of US deaths each year — far more than any other developed nation — is having a significant, negative impact on the country’s economy, Harvard Medical School researchers said. Harvard Medical School researchers …

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Appeals Court Won’t Certify Class Action on State Farm’s Diminished Value Formula

Auto and property insurers in the last three months have settled class-action lawsuits in Southern states alleging the carriers systematically underpaid claims. A federal appeals court in Georgia has decided a similar issue in favor of the insurer, noting that …

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Bank of England Won’t Take ‘Risky Bets’ to Boost City of London’s Competitiveness

The Bank of England’s new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said on Tuesday. Britain wants a “Big Bang 2.0” – …

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EU to Add Bahamas to Its Tax Haven Blacklist, While Bermuda Is Removed

The European Union is set to add the Bahamas to its blacklist of governments its considers uncooperative in tax matters because it says the archipelago continues to facilitate the operation of offshore firms for purposes of tax evasion. The bloc …

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Monday, September 26, 2022

US Starts Criminal Probe Into PG&E Role in California Wildfire

Federal officials have initiated a criminal investigation into PG&E Corp.’s potential role in starting California’s largest wildfire of the year. On Sept. 24, the US Forest Service removed one of the utility’s transmission poles from the site in Placer County …

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Florida Restructure Plan Didn’t Take: FedNat Insurance Deemed Insolvent, the Sixth Carrier This Year

Despite monitoring by Florida regulators, cancellation of more than 56,000 policies, and an extensive restructuring plan this year, FedNat Insurance Co. is now insolvent and must be liquidated – the sixth Florida property insurer this year to throw in the …

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Multiple Crashes, Two Deaths Reported at ‘Pop-Up’ New Jersey Car Rally

A pop-up car rally over the weekend in southern New Jersey led to multiple crashes and the deaths of at least two people riding in a golf cart, officials say. Wildwood Mayor Pete Byron told NJ Advance Media on Sunday …

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California County Paying Pay $1.35M in Custody Death Suit

San Diego County and other defendants have agreed to pay $1.35 million to settle a lawsuit filed by the mother of a Mexican citizen who died after sheriff’s deputies arrested him in 2018, officials said. The lawsuit filed by Dolores …

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BP, Chevron Cut Offshore Oil Production Ahead of Hurricane Ian

BP Plc and Chevron Corp. on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as a powerful Hurricane Ian bore down on the top U.S. offshore production region. The category 2 storm was …

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Global Financial Firms Reassess Risks of Operating in China if Taiwan Tensions Escalate

Global financial firms, still smarting from multi-billion-dollar losses in Russia, are now reassessing the risks of doing business in Greater China after an escalation of tensions over Taiwan. Lenders including Societe Generale SA, JPMorgan Chase & Co. and UBS Group …

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Hurricane Fiona Hits Nova Scotia as One of Region’s Strongest Storms

Fiona, the most powerful storm of this year’s Atlantic hurricane season, roared ashore in eastern Nova Scotia early Saturday as one of the strongest systems ever to hit the region, knocking out power, toppling trees and forcing residents to flee. …

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Sunday, September 25, 2022

Head-Injured Alabama Worker May Get Comp Claim, Despite Mediation Barring It

An electrician sustains a head injury on the job. He signs a mediation agreement absolving the employer of any workers’ compensation liability while he pursues a tort action against the warehouse owner. Five years later, the man’s guardian files a …

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North Carolina Insurance Dept. Takes Over Investigation Into Furniture Plan Fire

An investigation into a fire that destroyed a 40-year-old furniture upholstery business in North Carolina has been turned over to the state Department of Insurance. Morgan Chair, a 25-employee company in Stanfield, North Carolina, was almost completely burned to the …

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Maine Opts Out of $440M Multistate Settlement With Juul

Maine has opted out of a $440 million multistate settlement with electronic cigarette maker Juul Labs in objection to certain conditions. Maine would have received roughly $11 million over six to 10 years under the agreement announced Sept. 6 that …

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Privacy Watchdog Suit Says California Utility Targeted Asians in Pot Searches

Extraordinary use of electricity has long been a telltale sign of illegal grow houses producing thousands of marijuana plants hidden in seemingly ordinary homes. But a lawsuit filed by a data privacy watchdog says a Northern California utility went too …

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Maryland Settles Dispute With Kushner Property Management Firm for $3.2M

A property management company owned by the family of former President Donald Trump’s son-in-law, Jared Kushner, has agreed to pay a $3.25 million civil penalty and restitution to settle a 2019 lawsuit in Maryland over allegations of charging tenants illegal …

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Washington Roofers Face $1 Million-Plus in Fines for Reported Safety Violations

Two Washington roofing companies that landed on the Department of Labor & Industries’ severe violators list face large fines for reportedly allowing roofers to work on top of homes without using fall protection, among other alleged safety violations. L&I has …

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Friday, September 23, 2022

Banks Face Risk of Being Sued if They Don’t Stick to Their Climate Goals: ECB

Banks face the risk of being sued if they don’t stick to their climate goals or try “greenwashing” their image, a top European Central Bank (ECB) supervisor said on Thursday. Major Wall Street banks have threatened to leave United Nations …

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Cities of Paris and New York Join Climate Litigation Against TotalEnergies

The cities of Paris and New York have joined a coalition of associations and local authorities that are suing oil major TotalEnergies for failing to adequately fight climate change, the coalition said in a statement on Wednesday. “All the signals …

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Hurricane Fiona on Track to Rake Bermuda Before Heading to Atlantic Canada

Hurricane Fiona is on track to rake Bermuda with damaging winds before driving north toward Atlantic Canada, bringing threats of widespread damage and power outages in its path. Fiona, the strongest storm so far in this year’s Atlantic hurricane season, …

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Thursday, September 22, 2022

Boeing to Pay $200M to Settle Charges it Misled Investors About 737 MAX

Boeing Co. will pay $200 million to settle civil charges by the U.S. Securities and Exchange Commission that it misled investors about its 737 MAX, which was grounded for 20 months after two fatal crashes killed 346 people, the agency …

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Viewpoint: Significant Ruling in PFAS Litigation Could Impact Insurance Coverage

Per- and poly-fluoroalkyl substances, commonly known as PFAS, have served as a key component in numerous industrial and consumer products for decades. These “forever chemicals,” which have been associated with environmental contamination and adverse health outcomes, have garnered steadily-growing attention …

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Truck Driver Had Heart Attack, but Accident Still Compensable in North Carolina

Workers’ compensation carriers in North Carolina continue to be bound by a 44-year-old presumption that a death during work duties is work-related, even when a doctor testifies that a heart condition was the cause of death. “The Pickrell presumption is …

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Colorado Insurance Agencies RSS and DLP form Conexus Insurance Partners

Westminster insurance agencies RSS Insurance Services and Day Larsen Pedersen Insurance have merged into one, local independent insurance agency serving the Colorado community. The firms are now Conexus Insurance Partners. RSS & DLP have served the Colorado area for a …

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Florida Comp Insurers Challenge Hospital Payment Plan. Up Next: Physician Dispensing

A group of workers’ compensation carriers has filed a formal challenge to the state’s hospital reimbursement plan, arguing that payment levels would be far out of line with what other states allow and what other insurers pay in Florida for …

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New Report on California Workers’ Comp Medical Payment Trends

The Workers’ Compensation Insurance Rating Bureau of California released an updated California Workers’ Compensation Aggregate Medical Payment Trends report for 2021. The latest annual report compares medical payment information from 2019 through 2021. It analyzes medical payment and utilization trends …

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Chicago Apartment Building Explosion Injures 8

Eight people were rushed to hospitals after being injured when an explosion Tuesday tore through the top floor of a Chicago apartment building, officials said. The explosion at the 36-unit, four-story apartment building in the South Austin neighborhood occurred at …

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Markets/Coverages: BHSI Launches Multiple New Policies in Spain

Berkshire Hathaway Specialty Insurance (BHSI) announced the introduction of new property damage, general liability, D&O, professional indemnity and marine cargo insurance policies in Spain. “Launching our proprietary policy wordings in Spain is indicative of our commitment to leading domestic and …

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Fortegra Receives UK Branch Authorization

The Fortegra Group Inc., a global specialty insurer and subsidiary of Tiptree Inc., announced that its European insurer, Fortegra Europe Insurance Co. Ltd. (FEICL), received UK Branch approval from the UK’s Prudential Regulatory Authority, effective July 28, 2022. The authorization …

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Jury Awards Illinois Woman $363 Million in Suit Over Plant’s Toxic Gas

A jury has awarded $363 million to a woman who alleged that a now-shuttered suburban Chicago plant that sterilized medical equipment exposed residents to a toxic industrial gas and gave her breast cancer. After a five-week trial, the Cook County …

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Wednesday, September 21, 2022

Washington Proposes 4.8% Workers’ Comp Increase for 2023

The Washington Department of Labor & Industries is proposing a 4.8% increase in the average price employers and workers pay for workers’ compensation insurance in 2023. Employers and workers would jointly pay an additional $61 a year on average for …

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People Moves: Venbrook in California Names Pippin Chief Claims Officer; Makes Numerous Leadership Moves

Venbrook Group LLC named Louis Pippin as chief claims officer of Venbrook Claims Services. Pippin has nearly 30 years of experience in the areas of multi-line property/casualty liability lines, case management, cost control, compliance standards, and related service delivery of …

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Britain Proposes Reforms for Insuring Apartment Blocks After Deadly Grenfell Tower Fire

Britain’s financial watchdog has proposed reforming how apartment blocks are insured after the deaths of 72 people in the Grenfell Tower fire in London led to rocketing premiums on policies. The Financial Conduct Authority said on Wednesday that since the …

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Chubb in Advanced Bancassurance Talks With Hong Kong’s Hang Seng Bank: Sources

Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter. The parties are hammering out the details …

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Britain’s Haleon Rejects Potential Zantac Liabilities in U.S.

Haleon believes it is not liable for any claims that may arise from U.S. litigation over the heartburn drug Zantac, the London-listed company’s CEO Brian McNamara told Reuters on Tuesday. More than 2,000 legal cases related to Zantac have been …

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Lockton Re Launches SAGE 2.0 to Boost Reinsurance Analytics

Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, launches Lockton Re SAGE 2.0, its next level of analytics features and tools as part of Lockton Re’s proprietary software platform. “Lockton Re’s SAGE is …

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Miller Launches Delegated Authority Team in Canada, Hires 5 From Tysers

Miller, the leading independent specialist re/insurance broker, announced the expansion of its Delegated Authority team with the appointment of five new hires to form a dedicated Canadian unit. The new team will be formed by Steve Maslen, Matt Dear, Mike …

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ECB to Limit Purchases of Longer-Term Debt Issued by Climate Laggards

The European Central Bank will limit purchases of longer-term debt issued by companies that rank poorly under a new scoring system created to screen out polluters and tackle climate change. The maturity limit will cut the “longer-term exposure of the …

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Tuesday, September 20, 2022

Port Operator Faces $21M in Damages Over Buyout Dispute

The company that privatized operations at the port of Wilmington, Delaware several years ago owes more than $21 million in damages for breaching an agreement to buy the port’s former stevedoring firm, a Delaware judge ruled Monday. Vice Chancellor Lori …

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Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO

Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking …

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Mississippi State Sorority Treasurer Sentenced in $4M Embezzlement

A woman has been sentenced to nearly four years in federal prison and ordered to pay nearly $3 million in restitution for embezzling money from a Mississippi State University sorority. The Northeast Mississippi Daily Journal reports that Betty Jane Cadle, …

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Coalition of Insurers, Pension Funds Commit $7.1 Trillion to Support 1.5°C Climate Goal

A coalition of pension funds and insurance companies that includes Allianz SE, the California Public Employees’ Retirement System and Zurich Insurance Group AG have committed to managing $7.1 trillion of assets in line with the Paris Agreement’s goal of limiting …

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Monday, September 19, 2022

U.S. States Ask Appeals Court to Reinstate Facebook Lawsuit

A big group of U.S. states, led by New York, argued to an appeals court Monday that it should reinstate an antitrust lawsuit against Meta’s Facebook because of ongoing harm from the company’s actions and because the states had not …

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People Moves: Leavitt United Insurance Services Names Garcia Co-Owner; MJ Insurance Adds Krapf

Leavitt United Insurance Services, a Leavitt Group affiliate, appointed Sarah Garcia to the role of agency co-owner. Garcia has been with the Elk Grove, California-based agency since 2019 as vice president of operations. She will be running the agency alongside …

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Howden Acquires Born Consulting AG in Switzerland

Howden, the London-based independent insurance broker, announced the acquisition of Swiss broker Born Consulting AG. Founded in 2003 and based in Bern, Switzerland, Born Consulting is an independent insurance broker for national and international intermediaries, large companies and the public …

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Sunday, September 18, 2022

Assets of World’s Largest Companies at Growing Risk of Climate Impact: S&P

Over 90% of the world’s largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday. From heatwaves …

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‘Quirky’ Wording Sinks Evanston’s Exclusion, Appeals Court Finds in Sex Assault Case

The New Year’s Eve sexual assault of a patient at a Miami hospital’s mental health ward made headlines around Florida in 2019. Three days after the incident, Fernando Felix Ramos-Garcia, a technician at Westchester General Hospital, was arrested. The man …

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InsureScan Expands Auto Insurance Tech Approach to Alabama

InsureScan, a company that says its software can help agents quote and bind auto coverage in a few minutes, has expanded to Alabama. CEO Mark Chappell, who is based in Alabama, said that while some insurance companies are bypassing local …

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Yeshiva University Halts All Student Clubs Amid Court LGBTQ Ruling

Yeshiva University has abruptly suspended student club activity in the wake of a U.S. Supreme Court decision earlier this week that ordered the school to recognize —for now —an LGBTQ student group. In an email to students, university officials on …

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Judge Dismisses Youth Climate Change Lawsuit Against Virginia

A Virginia judge on Friday dismissed a lawsuit filed on behalf of 13 young people who claim that the state’s permitting of fossil fuel projects is exacerbating climate change and violating their constitutional rights. The lawsuit filed by Our Children’s …

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California Funding Research to Develop New Wildfire Defense Tools

The California Department of Forestry and Fire Protection is funding research to better predict who wildfires spread from burning wildlands to communities. CalFire awarded Worcester Polytechnic Institute researchers Albert Simeoni and James Urban $514,981 by to develop a model to …

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Friday, September 16, 2022

Uber Probes Hacker’s Claim to Have Penetrated Key Databases

Uber Technologies Inc. has shut down internal Slack messaging as it investigates a cybersecurity breach by a hacker claiming to have accessed sensitive company data. Employees on Thursday received a Slack message from an unknown person claiming “I am a …

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Deadly Sinking of New England Fishing Vessel Prompts Call for Inspections, Locator Beacons

PORTLAND, Maine (AP) —A fishing vessel that sank in New England, resulting in the loss of all four fishermen, likely capsized because of poor drainage of seawater from the rear deck and hatches that weren’t watertight, investigators said. The National …

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Robotaxi Coming to Austin and Phoenix

General Motors’ self-driving technology unit Cruise plans to expand its driverless ride service to include Phoenix, Ariz. and Austin, Texas, in 90 days, Cruise Chief Executive Kyle Vogt said on Monday. Speaking at a Goldman Sachs conference, Vogt also said …

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Oklahoma CSR and Insurance Consultant License Conversion To Take Effect Nov. 1

The Oklahoma Insurance Department issued a special notice to licensed Customer Service Representatives and Insurance Consultants last week regarding the automatic conversion of their licenses as Insurance Producers. According to the notice, effective Nov. 1, 2022, Oklahoma licensed Customer Service …

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Viewpoint: The Chinese Government is Coming for Your Company Secrets

This content was originally published in Harris Bricken’s China Law Blog. It is republished here with permission. No matter what I do as a lawyer to try to protect my clients’ IP and trade secrets from China, there remain many …

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Thursday, September 15, 2022

US Cyber-Defense Agency Urges Companies to Automate Threat Testing

The US government’s cyber defense agency is recommending for the first time that companies embrace automated continuous testing to protect against longstanding online threats. The guidance, from a cluster of US and international agencies published on Wednesday, urges businesses to …

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3M Belgian Settlement Signals Increased Risk of ‘Toxic Torts’ in Europe

“Toxic torts,” which are lawsuits alleging damage to human health or the environment caused by specific substances, are increasingly common in the United States. They can cost defendants hundreds of millions, even billions of dollars. But such risks are no …

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Dental Provider Sued Over Retaliatory Firing of Texas Sales Rep

Dental Health Products, Inc. (DHP), a nationwide provider of supplies and equipment to dental practices, violated federal law by firing a sales represent­ative based in McAllen, Texas because she made a complaint to human resources alleging sex-based discrim­ination and harass­ment, …

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Singapore Plans Financial Services Overhaul to Boost Sustainable Finance, Reinsurance

Singapore announced plans on Thursday to overhaul its financial services industry by 2025 in a bid to cement its position in a “key battleground” to fight climate change, mobilizing capital to support sustainable financing and green fintech. The “Industry Transformation …

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Wednesday, September 14, 2022

Restaurants Facing New Challenges These Days: Getting More From Insurance Coverage

If the past two years have taught us anything, it’s that anything can happen. There are dozens of unforeseen possibilities that could leave your business financially liable or could otherwise discourage guests from returning. And in the restaurant industry, that …

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Relation Insurance Acquires Mobeck-Guandalini in Connecticut

National insurance agency Relation Insurance Services has acquired Mobeck-Guandalini Insurance, a multi-line brokerage headquartered in Branford, Connecticut. Christopher Guandalini will continue to lead Mobeck-Guandalini Insurance under Relation going forward. Terms of the transaction were not disclosed. Mobeck-Guandalini Insurance transaction adds …

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PCF Insurance Agencies Create Western Pacific Partners Group

Washington-based agencies Fortiphi Insurance and Western Pacific Insurance, both agency partners of PCF Insurance Services, announced the formation of the Western Pacific Partners Group led by Michael Ebert and Gabe Oh. The move aligns 19 independent insurance agencies within the …

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Takeaways from Our Conversation on Cannatourism

Cannabis tourism, or more colloquially, “cannatourism,” is a billion-dollar and counting industry that includes everything from cannabis lounges to posh winery-tour style getaways with 4-star meals and messages. It’s a novel and unique industry with promise, and of a fair …

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Judge Allows Claim That NFL App Violates Privacy by Disclosing Personal Data to Google

The National Football League has lost a bid to completely toss a class action that alleges it violates privacy laws by sharing the video watching habits of users of its mobile NFL App with Google for advertising and marketing purposes. …

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Typhoon Muifa Pounds Eastern China With Strong Gales, Rain

Powerful gales and torrential rains battered Zhoushan in eastern China on Wednesday as Typhoon Muifa made landfall at the port city in what local media called the strongest tropical cyclone to hit the populous Yangtze River Delta in a decade. …

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People Moves: Orchid Names Cody CEO, Promotes Bowie, Carlsen

Orchid Underwriters Agency named Kathy Cody CEO. Cody joined Orchid in 2019 as its COO and became president in 2021. She was previously chief operating officer, personal lines for Farmers Insurance Group. She was CFO of Farmers Life and head …

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California Mudslides Damage Homes, Carry Away Cars

Rescuers searched for a person missing in a mudslide Tuesday as big yellow tractors plowed through dark, thick sludge and pushed boulders off roads after flash floods swept dirt, rocks and trees down fire-scarred slopes, washed away cars and buried …

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Brown & Brown Acquires New England’s Smithwick & Mariners Insurance

Brown & Brown of Massachusetts has acquired Maine-based Smithwick & Mariners Insurance, which includes MidCoast Insurance and Chapman & Chapman Insurance. Originally founded in 1987 to service the marine industry, Smithwick & Mariners has grow to serve business owners and …

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Tuesday, September 13, 2022

Montana’s Resilient Fishing Economy Tested by Climate Change

Montana’s fishing economy has proven resilient amid the impacts of drought, but a new study suggests that 35% of its cold water habitats could become unsuitable for trout by 2080, costing the state an estimated $192 million in annual revenue. …

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People Moves: MS Amlin’s Beazley Named CEO of SCOR UK, SCOR Syndicate; Aon Reinsurance Solutions Hires Goodman as UK President

This edition of International People Moves details appointments at SCOR and Aon Reinsurance Solutions. A summary of these new hires follows here. Former MS Amlin Exec Beazley Appointed CEO of SCOR UK, SCOR Syndicate SCOR announced the appointment of Chris …

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Catastrophe Data Company PERILS Expands Coverage to Include European Flood

PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, has announced the expansion of its market coverage to include exposure and event loss data for European floods. The new service is in addition to PERILS’ windstorm coverage in …

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Connecticut Trial Begins for Alex Jones in Sandy Hook Hoax Case

A month after losing one nearly $50 million verdict, conspiracy theorist Alex Jones is set to go on trial a second time for calling the Sandy Hook Elementary School shooting a hoax and causing several of the victims’ families emotional …

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Catalina Gets Lloyd’s ‘in Principle’ Approval to Launch Asta-Managed Syndicate 3232

Asta, the third-party managing agent at Lloyd’s, and Bermuda-based Catalina Group, a global provider of legacy reinsurance and capital solutions, announced that Lloyd’s have granted “in principle” approval of a new syndicate to underwrite reinsurance-to-close (RITC) transactions, within the Lloyd’s …

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Google Faces Damages Claims of $25.4B in UK, Dutch Courts Over Adtech Practices

Alphabet unit Google will face damages claims for up to 25 billion euros ($25.4 billion) over its digital advertising practices in two suits to be filed in British and Dutch courts in the coming weeks by a law firm on …

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Georgia Shrimpers, Businesses File Suits Over Capsized Cargo Ship Pollution

Fishermen, shrimpers and business owners dependent on coastal tourism have filed lawsuits over pollution caused when a cargo ship capsized off the Georgia coast in 2019. The two federal lawsuits filed last week in Georgia say the pollutants released by …

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Retirees Who Invested in Lindberg Firms Wonder if They’ll Ever See Their Money

A legal fight between indicted billionaire Greg Lindberg’s insurance companies and the state insurance commissioner is now in its fourth year, as the two sides battle over $1.2 billion and allegations of bribery and fraud. WRAL.com, part of a Raleigh, …

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Parties Scrapped, Bells Toll as UK Financial Services Sector Pays Respect to the Queen

Britain’s financial industry is dialing down activities in the run-up to the funeral of Queen Elizabeth next Monday, canceling events and paring business, as a nation in mourning prepares to bid farewell to Britain’s longest-serving monarch. Post-summer parties have been …

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Monday, September 12, 2022

Climate Change is Overwhelming U.S. Flood Maps, FEMA Says

Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, FEMA Director Deanne Criswell said. Those risks are in focus …

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Lender, Builder to Settle Wetlands Lawsuit over St. Simons Island in Georgia

A construction company and mortgage lender accused of damaging wetlands on a famous Georgia island have agreed to settle a federal lawsuit brought by landowners. The site of the controversy is on picturesque St. Simon’s Island, which gained attention when …

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MS Amlin AG to Rebrand as ‘MS Reinsurance’

MS Amlin AG announced it would rebrand this month to MS Reinsurance, which is a reflexion of parent company MS&AD’s commitment to building a leading, globally diversified reinsurer. The company said that MS Reinsurance clients will continue to benefit from …

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Autonomous Cars May Always Need Remote Human Supervisors, Experts Say

MILTON KEYNES, England — Autonomous vehicle (AV) startups have raised tens of billions of dollars based on promises to develop truly self-driving cars, but industry executives and experts say remote human supervisors may be needed permanently to help robot drivers …

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Typhoon Muifa Takes Aim at Asia’s Largest Port of Shanghai

Asia’s largest container shipping hub may face another major storm as Typhoon Muifa bears down on Shanghai and nearby Ningbo. The US Joint Typhoon Warning Center projects the typhoon’s path will hit the ports on China’s east coast Wednesday. The …

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Sunday, September 11, 2022

Towne Insurance Snaps Up Lee-Moore Agency in North Carolina

Virginia-based Towne Insurance has continued its steady rate of expansion with the acquistion of Lee-Moore Insurance Agency in North Carolina. The move is the ninth acquisition by Suffolk-headquartered Towne, company leadership said in a news release. The family-owned Lee-Moore has …

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Study Says Rising Seas to Affect $108B in SE Property; Tax Bases will Suffer

Rising seas will engulf millions of homes, business and parcels of land, and will reshape coastlines, property lines and local tax bases around the Southeast in less than 40 years. And Florida, North Carolina, Louisiana and Texas will see the …

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Biz Moves: King Insurance Acquires Two More Agencies in Florida

King Insurance, a rapidly expanding brokerage based in Gainesville, Florida, has announced the acquisitions of two more Florida agencies. King officials said that it bought Tallahassee-based Brad Burns Insurance, which handles property/casualty insurance and employee benefits. The agency was founded …

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New York Revises Compensation Fund, Workers’ Compensation Claims for 9/11 Victims

Ahead of the 21st anniversary of 9/11, New York Governor Kathy Hochul signed legislation to provide support to 9/11 victims and survivors and their families. This support aims to remove barriers and delays in the Victim Compensation Fund and workers’ …

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Friday, September 9, 2022

California Company Says Machine Failure May Have Caused Wildfire

A wood products company said that it is investigating whether a fire that killed two people as it swept through a Northern California town was caused by the possible failure of a water-spraying machine used to cool ash at its …

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Virginia Lawmakers Again Fail to Fill Vacancy on Key Regulatory Agency

Virginia lawmakers elected a handful of local judges Wednesday but failed yet again to fill a vacancy on the powerful State Corporation Commission, which regulates a wide range of business interests. The lack of action during the politically divided General …

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Vermont Nursing Home Sued Over Racial Abuse Claims

The U.S. Equal Employment Opportunity Commission has sued a Vermont nursing home over allegations that it allowed patients to racially abuse Black staff members. The lawsuit filed Tuesday in U.S. District Court in Burlington says the long-term care facility Elderwood …

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Adoption Agency Can Deny Services to Unmarried, Gay Couples, Judge Rules

A federal judge ruled that New York state could not require a Christian family services agency to provide adoption services to unmarried or same-sex couples. New Hope Family Services in Syracuse professes that it cannot provide adoption services to same-sex …

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Workers’ Comp Insurance Industry Backs CompScience Technology in $6M Seed Round

CompScience has found a way to reduce workers compensation risk and cost using artificial intelligence. Not just by the numbers, but by analyzing authentic, onsite video taken at clients’ facilities. The company provides video analytics and data-driven recommendations using existing …

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Thursday, September 8, 2022

Toyota Reaches Potential $150M Settlement Over Fuel Pump Recalls

Toyota Motor Corp. reached a settlement potentially worth $150 million to resolve U.S. class-action litigation tied to recalls of about 3.36 million Toyota and Lexus vehicles whose defective fuel pumps could cause engines to stall. A preliminary settlement was filed …

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Hub Grows Again with Acquisition of South Carolina Agency

Hub International Ltd., a global insurance brokerage, has continued its steady expansion with the recent acquisition of Tilghman Insurance of Myrtle Beach, South Carolina. Tilghman has provided commercial and personal lines insurance to the Grand Strand of coastal Carolina for …

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People Moves: 2 Middle Market Industry Leaders at Zurich; Tadmoury Head of Global Middle Market at AFM; New EVP, Cyber Team Expands at Gallagher Re

Zurich North America names new U.S. Middle Market industry practice leaders Zurich North America has named two new industry practice leaders to its U.S. Middle Market team. Erin Terpack was appointed head of technology and manufacturing. Terpack joins Zurich from …

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More Rainfall Following Downpours Floods Rhode Island Streets, Buildings

PROVIDENCE, R.I. — The heavy rain that caused street flooding and forced the closure of major roads in Rhode Island on Labor Day continued on Tuesday, according to the National Weather Service. Nearly 11 inches of rain had fallen in …

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Wednesday, September 7, 2022

Elon Musk $258 Billion Dogecoin Lawsuit Expands

The $258 billion racketeering lawsuit accusing Elon Musk of running a pyramid scheme to support the cryptocurrency Dogecoin has expanded, adding seven new investor plaintiffs and six new defendants including his tunnel construction business Boring Co. According to an amended …

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First Aerial Delivery Drone Granted Design Approval by FAA

Aviation regulators approved designs for the first flying drone built specifically for shipping packages, a major step forward for the fledgling remote delivery industry. Matternet Inc.’s Model M2, a four-rotor copter capable of carrying a 4-pound (1.8-kilogram) package, is considered …

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Jackson Businesses Lost Water and Customers But Insurance Probably Won’t Cover

As they learned with the COVID-19 pandemic shutdown, establishments that lost water service in troubled Jackson, Mississippi, this month are finding that their business interruption insurance policies won’t always help pay for lost customers and lost revenue. “Most coverage is …

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Maine Privacy Law Survives Challenge by Internet Service Providers

One of the strictest internet privacy laws in the United States has withstood a legal challenge, as a group of telecommunication providers has dropped its bid to overturn the Maine standard. Maine created one of the toughest rules in the …

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Oregon Workers’ Comp Costs to Drop for 10th Year

Oregon employers will pay less for workers’ compensation coverage on average next year, according to the Oregon Department of Consumer and Business Services. The DCBS said the decline in costs marks 10 years of average decreases in the pure premium …

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California Commissioner Wants Discounts from Insurers in New Wildfires Framework

California Insurance Commissioner Ricardo Lara on Wednesday submitted an insurance pricing regulation to the California Office of Administrative Law to recognize and reward wildfire safety and mitigation efforts made by homeowners and businesses. The regulation is said by Lara’s office …

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Lawsuit Charges South Carolina Coaches Sexually Abused Cheerleaders

Multiple cheerleading coaches in South Carolina _ including a coach who recently killed himself _ sexually abused at least six boys and girls and provided them with drugs and alcohol, a federal lawsuit alleges. A “coven of sexual predators” surrounded …

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EU Plans Price Cap on Russian Gas as Putin Threatens to Halt All Supplies

BRUSSELS/VLADIVOSTOK, Russia – The European Union proposed a price cap on Russian gas on Wednesday hours after President Vladimir Putin threatened to halt all supplies if they took such a step, raising the risk of rationing in some of the …

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Asian Insurer FWD Eyes Hong Kong IPO in 2023: Sources

FWD Group Holdings Ltd., the Asian insurer backed by billionaire Richard Li, is weighing 2023 as a new target for its long-awaited Hong Kong initial public offering, according to people familiar with the matter. FWD, which in May decided to …

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Europe’s Banks, Insurers Prepare for Potential Winter Power Cuts, Energy Rationing

Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system underpinning the region’s economy. As Russia throttles gas supplies to the …

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Tuesday, September 6, 2022

Vermont Settles Neglect Charges With 4 Residential Care Homes

The Vermont attorney general’s office has reached a settlement with the operator of four residential care homes in the Rutland area over allegations it failed to properly train staff and adequately document and monitor the delivery of services. In its …

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Hub Acquires Miniter Group, a Lending Risk Insurance Specialist in Massachusetts

Global insurance broker HUB International Ltd. has acquired the assets of James L. Miniter Insurance Agency, Inc. Located in Rockland, Massachusetts, Miniter Group is a provider of lending risk products and services in the banking space, including outsourced insurance tracking …

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Last Chance to Nominate for Best Agencies to Work For 2022

Is your agency a Best Place to Work? Then it’s time to nominate your agency as a “Best Agency to Work For.” To nominate your agency, you must be a current employee of the agency you are nominating. A MINIMUM …

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People Moves: Turek Joins Kansas Insurance Department; Insurance Office of America Announces New Chicago Team

Commissioner Vicki Schmidt names new Director of Government and Public Affairs Kansas Insurance Commissioner Vicki Schmidt has named Eric Turek as the new Director of Government and Public Affairs for the Kansas Insurance Department. Turek joins the Department after serving …

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New UK Prime Minister Promises to ‘Unshackle’ City of London

Liz Truss becomes Britain’s prime minister on Tuesday after a campaign in which she promised to “really unshackle” the City of London by making the most of Brexit in the 164-billion-pound ($192 billion) financial sector. WHAT’S HER PLAN? A stronger …

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Monday, September 5, 2022

Slain Marine’s Family Refiles $25M Defamation Suit Against Alec Baldwin

The family of a Marine killed in Afghanistan has revived a defamation lawsuit against Alec Baldwin over comments the actor made online. The sisters and widow of Lance Cpl. Rylee McCollum allege Baldwin subjected them to online threats and harassment …

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US Asks Farmers: Can You Plant 2 Crops Instead of 1?

There is only so much farmland in the United States, so when Russia’s invasion of Ukraine last spring prompted worries that people would go hungry as wheat remained stuck in blockaded ports, there was little U.S. farmers could do to …

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Paper Finds Employers Increasingly Willing to Hire Workers With Criminal Records

Newswise — A new paper in The Quarterly Journal of Economics, published by Oxford University Press, indicates that many American businesses are willing to hire workers with criminal records. Such companies become even more interested in hiring such workers if …

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Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens

Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …

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1 Dead After Seniors in California Served Dishwashing Liquid At Home

A resident of a San Francisco Bay Area senior citizens home died after being mistakenly served dishwashing liquid as drinking juice, the home said. Three residents of Atria Park Senior Living Facility in San Mateo, about 20 miles (32 kilometers) …

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Nurse Practitioner Claims CVS Fired Her Over Her Abortion Stance

A nurse practitioner from northern Virginia sued CVS Health on Wednesday, saying she was fired for refusing to provide abortion-inducing drugs at its MinuteClinic medical facilities. In the lawsuit, Paige Casey said CVS had for years granted her a religious …

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Friday, September 2, 2022

It’s Over: Lasting Underwriting Profits in U.S. D&O Market Unlikely, Fitch Says

Three years of soaring directors and officers liability insurance prices pushed combined ratios down to the mid-to-high 90s, but new entrants and potential claims volatility may spell trouble for underwriters in the years ahead. Updating an earlier report on the …

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Slain Marine’s Family Refiles $25M Defamation Suit Against Alec Baldwin

The family of a Marine killed in Afghanistan has revived a defamation lawsuit against Alec Baldwin over comments the actor made online. The sisters and widow of Lance Cpl. Rylee McCollum allege Baldwin subjected them to online threats and harassment …

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Thursday, September 1, 2022

Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens

Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …

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1 Dead After Seniors in California Served Dishwashing Liquid At Home

A resident of a San Francisco Bay Area senior citizens home died after being mistakenly served dishwashing liquid as drinking juice, the home said. Three residents of Atria Park Senior Living Facility in San Mateo, about 20 miles (32 kilometers) …

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Nurse Practitioner Claims CVS Fired Her Over Her Abortion Stance

A nurse practitioner from northern Virginia sued CVS Health on Wednesday, saying she was fired for refusing to provide abortion-inducing drugs at its MinuteClinic medical facilities. In the lawsuit, Paige Casey said CVS had for years granted her a religious …

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Body of Construction Worker Found After Pennsylvania Construction Site Collapse

State police say the body of a worker was found in the rubble of a collapse at a construction site in Pennsylvania. Trooper Megan Frazer said the body of the 30-year-old man was found at about 9:45 p.m. Tuesday at …

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Column Collapses at Oregon College, Killing Student In Hammock

Authorities say a brick column collapsed at Lewis & Clark College in Portland, Oregon, killing one student who was in a hammock hanging from the column. Portland Fire & Rescue said two other people were injured Monday night. KGW reports …

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Insurer Loses $500K in Beer Pong Challenge by Badly Misplaying Liquor Liability Claim

An insurer that mishandled a liquor liability claim resulting from a fight after a beer pong tournament has discovered the tab is considerably bigger than it first thought. Hospitality Mutual Insurance Co. will have to pay $500,000 plus legal costs …

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California Wildfires Lead to Evacuations Amid Heat Wave

California wildfires erupted Wednesday in rural areas, racing through bone-dry brush and prompting evacuations as the state sweltered under a heat wave that could last through Labor Day. Gov. Gavin Newsom declared a state of emergency with temperatures expected to …

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California Electric Car Rule Includes Equity Goals

Discounted prices, car-share programs and at least one million more public charging stations are among the ways California will try to make electric cars easier to buy and drive as it phases out the sale of gas-powered cars. But the …

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Italian Oil Giant Eni Hit by Cyber Attack

The Italian oil giant Eni SpA said Wednesday that its computer networks were hacked in recent days and that the consequences so far appeared to be minor. “Eni confirms that the internal protection systems have detected unauthorized access to the …

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EU Urged to Simplify Life for Companies by Aligning Climate Reporting With Int’l Rules

The European Union should make extra time to align its policies with international rules on reporting on climate change to save time in the long run and simplify life for companies, global standard setting board said on Wednesday. That could …

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London’s Financial Services Firms See Potential in Liz Truss’ ‘Radical’ Policies

After an international career in finance, a rapid political rise and high profile as chancellor of the exchequer during the pandemic, Rishi Sunak must have expected the full-throated backing of the financial sector when he made a bid to lead …

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