Worker Injured a ‘Reasonable Time’ After Shift Ends Is Covered, Virginia Panel Says

A worker who fell and injured herself while walking to the restroom after completing her shift as a convenience store clerk was still in the course of her employment when she fell and thus she is entitled to workers’ compensation …

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State Farm’s California Halt Reflects Overall Poor Underwriting Experience, Ratings Agency Says

State Farm’s announcement last week that the carrier was no longer writing new personal or business property casualty policies in California “reflects the poor underwriting experience for California homeowners’ writers,” a ratings agency said on Wednesday. Fitch Ratings issued a …

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Markets/Coverages: U.S. Cannabis-Focused MGU Opens for Business in Europe

The North American managing general underwriter CannGen Insurance Services (CannGen) has launched a European operation amid expectations that the continent’s legal cannabis market is set for substantial growth. CannGen Insurance Europe SRL (CGEU) now operates as a property/casualty MGU, providing …

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U.S. Warns China Could Hack Infrastructure, Including Pipelines, Rail Systems

The U.S. State Department has warned that China was capable of launching cyber attacks against critical infrastructure, including oil and gas pipelines and rail systems, after researchers discovered a Chinese hacking group had been spying on such networks. A multi-nation …

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Boeing 737 MAX Relatives May Pursue Pre-Impact Victim Compensation Claims

A U.S. judge ruled late on Tuesday that relatives of those killed in a 2019 Boeing 737 MAX Ethiopian Airlines crash may seek compensation for pain and suffering of passengers before the plane hit the ground. Boeing in 2021 agreed …

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Catholic Church Settles Suit by Man Who Alleged Bishop Raped Him

A lawsuit brought by a former altar boy who said he was raped as a child in the 1960s by a now-deceased Roman Catholic bishop in Massachusetts has been settled, the sides announced Friday. The plaintiff identified in court papers …

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Delta Air Lines Faces Proposed Class Action Over Carbon Neutral Claims

Delta Air Lines is facing a proposed class action lawsuit over advertising touting the U.S. carrier as carbon-neutral, according to a complaint filed on Tuesday in California federal court. The complaint, filed on behalf of a California resident who bought …

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Pinnacol Issues $15M Dividend to 58K Colorado Employers

Colorado’s largest workers’ compensation carrier, Pinnacol Assurance, issued a general dividend of $15 million to 58,000 employers in the state. This marks the organization’s eighth straight year of issuing dividends and a total of $385 million returned to Colorado employers. …

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People Moves: Hiscox Appoints Bloomer as Chair, Succeeding Childs; SCOR Names de Varenne as Group CFO and Deputy CEO

This edition of International People Moves details executive appointments at Hiscox and SCOR. A summary of these new hires follows here. Hiscox Appoints Bloomer as Chair, Succeeding Childs Hiscox Ltd., the international specialist insurer, announced the appointment of Jonathan Bloomer …

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Product Recalls Hit Four-Year High in First Quarter 2023: Sedgwick

Data from the first quarter of 2023 shows that the number of product recalls in the U.S. increased 14.2% from the previous quarter. According to Sedgwick brand protection’s latest U.S. product recall index report — which analyzes recall data from …

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South Carolina Firefighter Dies in Apartment Blaze

A 25-year-old firefighter from South Carolina has died after part of a burning apartment building collapsed while firefighters were inside. Authorities said James Muller of the Irmo Fire District died Friday while he was providing aid during the response to …

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Taiwan Rushes to Prevent China From Cutting Internet, Phones

Buffeted by earthquakes and the potential of conflict with China, Taiwan’s leaders want to accelerate plans to make the island more resilient to communications breakdowns and direct attacks on its digital infrastructure. It could be an impossible task. Audrey Tang, …

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New York City Enacts Law Banning Discrimination Based on Weight, Height

New York City Mayor Eric Adams has signed legislation to prohibit discrimination on the basis of a person’s height or weight in employment, housing, and public accommodations, with some exceptions. The New York City Council passed the bill (Intro. 209-A …

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State Farm to Cease Accepting New Applications for Business and Personal Lines P/C in California

An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …

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Dutch Watchdog Probes Alleged Tesla Data Breach

The data protection watchdog for the Netherlands said on Friday it was aware of possible Tesla data protection breaches, but it was too early for further comment. Germany’s Handelsblatt reported on Thursday that Elon Musk’s Tesla had allegedly failed to …

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Georgian Billionaire Wins $926M From Credit Suisse After Fraud

Credit Suisse was ordered to pay $926 million to Georgia’s former prime minister on Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank. Singapore’s International …

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Climate Alliance Sounds Alarm on ‘Political Attacks’ on Insurers

“Political attacks” are interfering with insurers’ efforts to price climate risks, the Glasgow Financial Alliance for Net Zero said on Friday, after a wave of insurers quit an industry climate group following pressure in the United States. “These political attacks …

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Judge Greenlights JPMorgan Lawsuit Blaming Ex-Executive in Jeffrey Epstein Scandal

A federal judge said Wednesday that he won’t block JPMorgan’s legal efforts to blame a former executive of hiding Jeffrey Epstein’s decades-long sex abuse to keep the financier as a client. Judge Jed Rakoff in Manhattan denied requests by lawyers …

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Microsoft Chief Says Deep Fakes Aare Biggest AI Concern

Microsoft President Brad Smith said Thursday that his biggest concern around artificial intelligence was deep fakes, realistic looking but false content. In a speech in Washington aimed at addressing the issue of how best to regulate AI, which went from …

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People Moves: Aihara & Associates in California Names Kinoshita EVP

Aihara & Associates Insurance Services named Mike Kinoshita executive vice president. Kinoshita is a third-generation insurance agent and current senior client advisor at The J. Morey Company, an Ori-gen Family Company. Kinoshita’s appointment will succeed agency principal Douglas Aihara. Aihara …

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Citizens Financial to Pay $9 Million to Settle Consumer-Protection Lawsuit

Citizens Financial Group Inc. will pay $9 million and take other remedial measures to settle US Consumer Financial Protection Bureau allegations that the bank failed to adequately address credit-card disputes and fraud claims. The consumer watchdog alleged in a 2020 …

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China Rejects Claim Its Spies Are Penetrating Western Critical Infrastructure

The Chinese government has rejected claims that its spies are penetrating Western infrastructure, calling the joint warning issued by the United States and its allies a “collective disinformation campaign.” Chinese foreign ministry spokesperson Mao Ning told reporters that alerts issued …

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Report: Catholic Clergy Sexually Abused Illinois Kids More Often Than Church Said

CHICAGO (AP) – More than 450 Catholic clergy in Illinois sexually abused nearly 2,000 children since 1950, the state’s attorney general found in an investigation released Tuesday, revealing that the problem was far worse than the church had let on. …

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Oklahoma Lawmakers Agree on $1M Settlement Over Inmate’s Death

OKLAHOMA CITY (AP) – Oklahoma lawmakers on Tuesday signed off on a $1.05 million settlement with the family of a state prison inmate who died of appendicitis in 2018 despite five visits to the prison’s medical staff in the week …

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Appeals Court Upholds Revised Admissions Policy at Elite Virginia High School

A divided federal appeals court on Tuesday upheld the constitutionality of a new admissions policy at an elite public high school in Virginia that critics say discriminates against highly qualified Asian Americans. The 2-1 ruling from the 4th U.S. Circuit …

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With Digital Channels Insurers Impress Shoppers but Not Existing Customers

Though insurers do a good job attracting new customers shopping for policies via their digital channels, they fall short when it comes to servicing existing customers, a new industry report shows. Overall satisfaction with the P&C shopping experience is up …

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Activist Investor Cevian Sells Almost Entire Stake in Aviva, Insurer Reveals

Activist investor Cevian Capital has sold almost its entire stake in British insurer Aviva, a spokesperson for the FTSE 100 company said on Wednesday. Cevian’s position in Aviva has fallen from more than 150 million shares at the peak in …

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How Much Should Insurers Trust AI Chatbots?

Whether it’s underwriting, claims or customer service, it seems that artificial intelligence is top of mind for the insurance industry right now. William Bennett, partner at law firm Saxe, Doernberger & Vita, said on this episode of The Insuring Cyber …

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Ohio Resin Manufacturer Fined $171K for Exposing Workers to Respiratory Hazards

In certain concentrations, flammable vapors can ignite, leading to powerful explosions and leaving workers seriously injured or worse. For workers manufacturing plastic resin, the high heat used in the production process increases the risks. Despite the dangers, inspectors with the …

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Wisconsin Republicans Propose $125M to Combat PFAS Pollution

MADISON, Wis. (AP) – Wisconsin Republicans on Thursday announced plans to put $125 million aside to combat pollution from so-called forever chemicals, putting off a decision on what exactly to spend the money on. The influx of money to deal …

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Carroll Adds Trump’s Post-Verdict Remarks to Defamation Case, Seeks at Least $10M

E. Jean Carroll, the advice columnist who won a $5 million sexual abuse and defamation award against former President Donald Trump, is seeking at least $10 million more in a court filing Monday that seeks to hold him liable for …

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Truck Driver in Multi-Vehicle Freeway Crash That Killed 7 in Oregon Arrested

The driver of a semitruck that slammed into a passenger van on Interstate 5 in western Oregon, killing 7 people in one of the state’s deadliest crashes in recent years, was arrested on suspicion of manslaughter, DUI and other charges, …

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People Moves: Lockton Adds Allianz’s Caruso; Verdi Joins Alliant From Gallagher; Marsh McLennan Agency Names Moher; Bischoff Joins Harford’s IT

Lockton Appoints Caruso Financial Institutions Practice Leader in the Northeast Lockton, based in Kansas City, Missouri, has appointed Joe Caruso as its financial institutions practice leader in the Northeast. Caruso is based in New York, New York. Caruso brings 30 …

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Alabama Lawsuit Shines a Light on Fee-Sharing Agreements for Storm Claims

Insurance defense attorneys say a pair of lawsuits filed by a law firm and a claims consulting business – against a national personal injury law firm – raises questions about the proper relationships between legal counsel and the professionals they …

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New York Dairy Farm Workers Gain $150K in Unpaid Wages

A settlement in New York in a wage theft case has resulted in two dairy farm workers receiving nearly $150,000 in back wages. The New York State Department of Labor (NYSDOL) said its investigators found that Lewis County dairy farm …

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Questions Raised Over Virginia State Police Being Allowed to Investigate Itself

Late last year, with the Virginia State Police under scrutiny after authorities said a former trooper kidnapped a 15-year-old California girl and killed three members of her family, Gov. Glenn Youngkin announced he had requested a full investigation by the …

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Fitch Downgrades Allstate’s IFS Ratings to ‘A’

Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the insurer financial strength ratings of Allstate P/C insurance subsidiaries to “A” (Strong) from “A+.” Fitch has also downgraded Allstate’s holding company ratings, including …

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World’s ‘Carbon Majors’ Face Biggest Share Price Hit From Climate Litigation: Study

The world’s ‘carbon majors’ in the energy, utilities and mining sectors face the biggest share price hit when climate-related lawsuits are filed against them and need to consider it a financial risk, a study on Tuesday showed. The paper by …

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Sandy Hook Families Preparing to Sue Alex Jones’ Wife, Family to Clawback Payments

The families of Sandy Hook school shooting victims are preparing to sue Alex Jones’ wife and other family members to help satisfy $1.5 billion in judgments they won from lawsuits against the bankrupt right wing conspiracy theorist over his lies …

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Exxon Says Guyana Insurance Dispute Could Cut Revenue $350M/Month

Exxon Mobil Corp on Friday said an ongoing dispute over oil-spill insurance in Guyana could halt production at its first offshore platform there, cutting revenue by about $350 million per month. A Guyanese court this month found Exxon in breach …

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Fruit Harvest Faces Ruin After Floods Hit Italy’s Emilia-Romagna

Deadly floods in northern Italy will ravage fruit production in what is normally one of the country’s most bountiful agricultural regions, farm lobby Coldiretti said on Monday. Floods killed 14 people last week in Emilia-Romagna as torrential rain caused more …

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Meta Hit With Record $1.3B Fine Over Data Transfers

Meta was hit with a record 1.2 billion euro ($1.3 billion) fine by its lead European Union privacy regulator over its handling of user information and given five months to stop transferring users’ data to the United States. The fine, …

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New Hampshire House Kills Bill to Make Schools Tell Parents About Transgender Kids

A bill that would have required school officials to disclose to inquiring parents that their child is using a different name or being referred to as being a different gender was defeated Thursday in the New Hampshire House. The bill …

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Fox’s Tubi Accused in Lawsuit of Paying Women Less Than Men

Fox Corp.’s streaming platform Tubi was accused in a gender-discrimination lawsuit of paying top female executives 28% less than their male counterparts and offering them fewer promotions. Sarah Ekstrom, Tubi’s former chief people officer, said in a proposed class-action suit …

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New Jersey Allows Emergency Erosion Fixes in Defiant Town

New Jersey environmental officials will allow a shore town to carry out emergency repairs to its badly eroded beachfront, even as they continue a years-long fight with city officials over how best to protect the popular Jersey Shore resort’s fragile …

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People Moves: Venbrook in California Names Aguilar CFO

Venbrook Group, LLC named Juan Aguilar chief financial officer. Aguilar has 20 years of industry experience, most recently serving 15 years at Aon PLC, where he held leadership roles across finance, operations and business strategy and development. Before Aon, he …

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The Supreme Court Handed Google and Twitter a New Line of Defense

The US Supreme Court handed social media companies a new line of defense as they face an increasing number of lawsuits alleging their algorithms have harmed users — whether by addicting children or selling suicide kits. In a unanimous ruling, …

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ClientEarth Challenges UK Court Dismissal of Shell Climate Lawsuit

ClientEarth, an environmental law charity turned activist Shell investor, said on Friday it was challenging a London court decision to dismiss its novel lawsuit against the energy giant’s board over alleged climate risk mismanagement. The group said it would ask …

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Alabama Judge Halts Bridge Project, Says DOT Director Had Vendetta

Driven by a “personal vendetta” against a toll bridge company, Alabama’s transportation director planned to build an unnecessary bridge across the Intracoastal Waterway at a cost of more than $100 million to the state, according to a judge who ordered …

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Consistent Policy Wording Bringing Some Relief to Evolving Cyber Market

Consistency within cyber insurance policies is something the industry has been grappling with for nearly a decade, according to speakers at the annual RIMS Riskworld conference, held this year in Atlanta, but the industry is beginning to see a light …

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Workers’ Compensation Panel Reverses Claim Denial for Man With Two Names

A Virginia man who was denied workers’ compensation benefits for his workplace injury because he apparently used two different names is entitled to have his name on the record corrected and his claim reconsidered, the Virginia Workers’ Compensation Commission (WCC) …

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Aon Sues Alliant Over ‘Unlawful Raid’ of Reinsurance Group

Aon this week filed a lawsuit against rival Alliant Insurance Services for an alleged “unlawful raid” of senior leaders and other employees of Aon’s facultative reinsurance group. Aon claims Alliant took 26 of its employees, reinsurance business, and confidential information …

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Everest Re Group Rebrands to Everest Group

Bermuda-based P/C insurer and reinsurer Everest Re Group, Ltd. announced that its shareholders approved a name change to Everest Group, Ltd. and will trade under a new ticker symbol (NYSE: EG). The change will become effective on July 10, 2023. …

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Deutsche Bank to Pay $75 Million to Settle Epstein Suit

Deutsche Bank AG agreed to pay $75 million to settle a lawsuit in which victims of Jeffrey Epstein’s sexual abuse accused the bank of facilitating his sex-trafficking operation, according to attorneys for the plaintiffs. Deutsche Bank agreed to settle after …

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Nevada Secures $152M Opioid Settlement With Pharmacy Chain CVS

Nevada and pharmacy chain CVS have reached a nearly $152 million settlement to be paid over the next decade to end a lawsuit over opioid claims, state Attorney General Aaron Ford announced. “CVS negotiated in good faith,” Ford said at …

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U.S. Cites Another Poultry Producer in Compensation Sharing Conspiracy

The Department of Justice proposed an amended complaint and consent decree in the District of Maryland that would resolve claims that chicken producer George’s Inc. and George’s Foods conspired with other poultry processors for years to suppress workers’ wages by …

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Trans Worker Says Texas-Based Railroad Wouldn’t Promote Her

OMAHA, Neb. (AP) – A former BNSF worker who was named one of the railroad’s employees of the year in 2021 for her work in supporting LGBTQ+ workers is now suing the railroad where she worked for 30 years, saying …

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Insurtech WeFox Raises $110 Million in Extension to 2022 Funding Round

Wefox Holding AG, an insurance-technology firm based in Berlin, raised $110 million to build a platform that will make its technology available to other insurers. JPMorgan Chase & Co. and Barclays Plc provided half the funds as a revolving credit …

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Specialist Risk Group Acquires UK Specialist Broker TLO Risk Services

Specialist Risk Group (SRG), the London-based insurance broker, has acquired TLO Risk Services, the professional risk specialist broker, which will play an integral role in the development of SRG’s professional lines capability. Specializing primarily in the legal sector, London-headquartered TLO …

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Insurance Journal, Carrier Management & Claims Journal Staffs Win Awards of Excellence

Wells Media Group publications, online, research and podcasts have won a total of nine 2023 Azbee Awards of Excellence from the American Society of Business Publication Editors (ASBPE). “Being recognized by our publishing peers is truly gratifying,” said Andrea Wells, …

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Top Cyber Insurers: 2022 Ranking Reveals Sprinters, Market Share Shifts

In a year when cyber insurers notched the third-lowest industrywide loss ratio since 2015, and cyber premiums vaulted to $7.2 billion, a premium ranking shows two carriers growing more than 150% to landing in prominent top-10 spots. Fitch compiled and …

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Arthur J. Gallagher Acquires RHP General Agency in Texas

Arthur J. Gallagher & Co. subsidiary Risk Placement Services Inc. acquired Houston, Texas-based RHP General Agency Inc. Greg Vanek and his team will remain in their current location under the direction of Russell Duffey, head of RPS’ program administration division. …

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APCIA: Illinois Bill Significantly Would Have Detrimental Impact

An Illinois bill allowing punitive damages in wrongful death cases will increase already high litigation costs, the American Property Casualty Insurance Association and the Illinois Insurance Association say. The groups issued the following statement in response to HB 219, addressing …

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Louisiana Dept. of Insurance: $92M in Payouts Collected in 2022

Louisiana Commissioner Jim Donelon announced the Louisiana Department of Insurance (LDI) helped consumers collect over $92.3 million in payouts in addition to the original amounts offered by insurance companies in 2022. The additional money is the result of consumers filing …

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Oil Majors Should Pay $12B to Repair Damage in Nigeria: Report

Oil companies including Shell Plc and Eni SpA should pay $12 billion to repair environmental devastation in Nigeria’s crude-rich Niger Delta, a new report said. More than six decades of pumping oil has left Bayelsa state “in the grip of …

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Elon Musk Loses Bid to End SEC ‘Muzzle’ Over Tweets

A federal appeals court on Monday rejected Elon Musk’s bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and Exchange Commission that required a Tesla Inc lawyer to approve some of his tweets in advance. …

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New Zealand Pledges $720M for Cyclone and Flood Recovery

The New Zealand government said on Sunday it was allocating NZ$1.1 billion ($720 million) to help communities recover from a cyclone and floods that lashed the country this year. The funds from the 2023 budget are to cover “basics” of …

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Texas Windstorm Insurance Group Getting Update on Cat Funding for 2023 Season

The Texas Windstorm Insurance Association Board of Directors will meet at the Austin Marriott South on May 23 at 9 a.m. In addition to the TWIA board’s consideration of routine association updates, the board will receive an update on reinsurance …

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Hedge Fund Manager Loeb Drops Buyout of $1.5B Re/insurer SiriusPoint

Hedge fund manager Dan Loeb said he’s no longer exploring an acquisition of specialist insurance underwriter SiriusPoint Ltd. Loeb held exploratory discussions with Bermuda-based SiriusPoint about a potential deal to take the company private, but the parties weren’t able to …

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Data of 237,000 Government Employees Breached

The personal information of 237,000 current and former federal government employees has been exposed in a data breach at the U.S. Transportation Department (USDOT), sources briefed on the matter said on Friday. The breach hit systems for processing TRANServe transit …

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Driver Falls Asleep, 18-wheeler Hits Federal Courthouse in Georgia

A federal courthouse in Georgia was damaged when the driver of a tractor trailer fell asleep and the truck hit the building last week. The crash into the J. Roy Rowland Federal Courthouse in Dublin happened at about 12:30 a.m. …

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Tenn. Company Refuses Request to Recall Millions of Air Bag Inflators

A Tennessee company could be heading for a legal battle with U.S. auto safety regulators after refusing a request that millions of potentially dangerous air bag inflators be recalled. The National Highway Traffic Safety Administration is demanding that ARC Automotive …

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New Hampshire Lab Error Incorrectly Led to Salad Greens Recall

A laboratory error incorrectly caused a recall announcement for a brand of salad greens, the New Hampshire Department of Health and Human Services said. The products from lef Farms are safe and the recall has been canceled, the department said …

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New York Apartment Fire That Killed 3 Blamed on Homemade Vape Pens

A fire that killed a mother and two daughters in New York City was apparently sparked by homemade vape dispensers that the father of the family was assembling to sell, officials said. The fire broke out shortly after 2 a.m. …

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Report Examines California Workers’ Comp Medical Dispute Resolution

A new report shows the number of independent medical reviews in California used to resolve medical disputes hit a record low in 2022 as prescription drug disputes continued to decline. The report from the California Workers’ Compensation Institute also shows …

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New York AG Sues Manufacturer Over Magazine Lock Used in Buffalo Massacre

New York’s attorney general sued a gun accessory manufacturer Thursday for selling a lock that can be easily removed to attach high-capacity magazines, which are illegal in the state. The white gunman who massacred 10 Black shoppers and workers in …

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Texas Shell Refinery Unit Had History of Malfunctions Before Fire

The units at a Houston-area Shell refinery that caught fire on Friday repeatedly malfunctioned in recent years without action from Texas regulators. Since the start of 2022, the British oil giant reported at least four malfunctions at one olefins unit …

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People Moves: BevCap Names Raun Director of Client Consulting; Spot Names Goy CEO

BevCap Management Names Raun Director of Client Consulting BevCap Management, LLC has named Ben Raun to its team as director of client consulting. Raun has 15 years of experience in property and casualty claims, risk management consulting and customer stewardship …

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Michigan Paper Mill With Fungal Infections Outbreak Reopens

ESCANABA, Mich. (AP) – A northern Michigan paper mill has resumed operations after closing for three weeks to deal with an unusual outbreak of fungal infections. The Billerud Paper Mill in Escanaba reopened Monday, following a deep cleaning recommended by …

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Hackers Aim to Find Flaws in AI

No sooner did ChatGPT get unleashed than hackers started “jailbreaking” the artificial intelligence chatbot – trying to override its safeguards so it could blurt out something unhinged or obscene. But now its maker, OpenAI, and other major AI providers such …

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Vermont Law Shields Providers of Abortion Medication, Gender Affirming Services

Vermont’s Republican governor signed abortion and gender affirming shield bills into law Wednesday that are the first in the country to include protecting access to a medication widely used in abortions even if the U.S. Food and Drug Administration withdraws …

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California Paying $24M for Man’s Death in Police Custody

California will pay a $24 million civil rights settlement to the family of a man who died in police custody after screaming “I can’t breathe” as multiple officers restrained him while trying to take a blood sample, lawyers said Tuesday. …

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Greenpeace Sues Italian Energy Company ENI

Greenpeace and an environmental coalition including 12 Italian citizens are suing Italian energy company ENI, accusing it of knowingly contributing to climate change. The complaint names ENI as well as its two biggest shareholders, the Italian Economy Ministry and the …

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Alliant Acquires Texas’ McAnally Wilkins

Alliant Insurance Services has acquired McAnally Wilkins, LLC, a leading provider of property and casualty (P&C) insurance solutions for the oil and gas service industry. Based in Odessa, Texas, McAnally Wilkins provides insurance and risk management expertise as well as …

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Minnesota on Verge of Banning Forever Chemicals

ST. PAUL, Minn. (AP) – Minnesota is on the verge of banning non-essential uses of “forever chemicals.” And lawmakers say they are naming the legislation after a woman who spent the last months of her life campaigning for restrictions that …

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Altria Agrees to $235 Million Settlement to Resolve Juul-Related Cases

Altria Group Inc said Wednesday that it will pay $235 million to settle at least 6,000 lawsuits accusing it of fueling a teen vaping epidemic through its former investment in e-cigarette maker Juul Labs Inc. The deal ends nearly all …

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Medic on New Mexico Movie Set Shooting Gets $1.15M Partial Settlement

A New Mexico judge has approved a $1.15 million settlement between a medic who worked on the “Rust” film set and one of several defendants she accused of negligence in the fatal 2021 shooting of a cinematographer by Alec Baldwin …

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People Moves: Chubb Appoints Homan to Lead International P/C Division

Chubb Appoints Homan to Lead International Property and Casualty Division Chubb today announced that Mark Homan has been appointed division president, international property and casualty for overseas general insurance, the company’s international general insurance operations, effective June 1. Currently, he …

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NCCI Symposium: Strong Profits for Workers’ Comp, but Medical Still a Concern

While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy” nationwide reserve redundancy level of $17 billion. “The system is healthy …

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Stalled Gun Bill Advances in Texas After Recent Mass Shootings

AUSTIN, Texas (AP) – Facing new pressure over gun violence in Texas after two more mass shootings, Republicans on Monday unexpectedly allowed a bill that would raise the purchase age for semiautomatic rifles from 18 to 21 to advance out …

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U.S., Allies Dismantle 20-Year Russian Malware Spying Operation

The US and allied countries have disrupted a wide-ranging Russian hacking operation that spied on its adversaries over some 20 years, the Justice Department announced. Law enforcement agencies penetrated a global network of computers infected with malicious software that the …

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Towers Watson Hits Bump in Road to $80M Insurance for D&O Claims Over Willis Merger

A judicial panel of the Fourth Circuit Court of Appeals has ruled Towers Watson may not be entitled to $80 million in insurance to cover settlements of shareholder lawsuits related to the merger between Towers Watson and Willis in 2015. …

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4 Dead When Small Plane Crashes in Colorado Mountains

Four people were found dead after a plane crashed in the mountains of southern Colorado over the weekend, authorities said. The wreckage of the Pool-Cessna T-41B2 was discovered Sunday near Victor, Colorado, a historic gold mining town about 115 miles …

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People Moves: AXIS Appoints Gregory Head of Global Markets, McKenna Head of North America

AXIS Capital Holdings Limited announced the following appointments within its specialty insurance business: Mark Gregory as head of global markets and Michael J. McKenna as head of North America. The newly created leadership positions will report directly to Vince Tizzio, …

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EU Plans Tough ‘Value for Money’ Rules for Investment Products: Draft Proposals

Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters showed. The …

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Hottest Ever April Recorded in Spain, Portugal as Heat Wave Hits Europe

Spain and Portugal recorded their hottest April on record as a mass of hot air brought temperatures above 30C and close to 40C in some areas at the end of the month. Last month was the fourth-hottest month of April …

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Twitter Beats Disabled Worker’s Lawsuit Over Layoffs, for Now

A federal judge in California has tossed out a lawsuit accusing Twitter Inc of discriminating against workers with disabilities by requiring employees to report to the office and put in long hours working at high intensity. U.S. District Judge Haywood …

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People Moves: CREST Insurance Group in Arizona Names Cannatella Vice President

Crest Insurance Group, headquartered in Scottsdale, Arizona, named Steve Cannatella as a vice president of employee benefits. Cannatella spent the last ten years at Paychex Insurance Agency as a large group health and benefits sales representative for medium and large-size …

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Maryland Firefighter’s Widow Wins Death Benefits Opposed by County Employer

A Maryland widow is entitled to her late husband’s workers’ compensation death benefits because she was dependent upon her husband at the time of his disablement, a Maryland appeals court has ruled. The appeals panel overturned a lower court that …

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Man Charged With Setting Fire to Minneapolis Mosques

MINNEAPOLIS (AP) – A man suspected of setting fires to Minneapolis mosques was indicted Thursday on federal charges of arson and damage to religious property while investigators look into a series of crimes targeting Muslims and Somali Americans. Jackie Rahm …

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An Oil Tanker Ablaze in South China Sea Is Indication of Global Problem

Off the coast of Malaysia, in one of the world’s busiest shipping channels, an explosion on board the aging oil tanker Pablo ripped off its deck like a sardine can and began a fire that sent dark plumes of smoke …

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South Africa’s State-Owned Insurer Won’t Pay Claims for Grid Collapse

South Africa Special Risk Insurance Association told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported, citing a circular from the company. The announcement by the state-owned insurer comes less …

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SEC Issues Largest Ever Whistleblower Award of $279M

The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator’s enforcement action, it said on Friday. The regulator did not disclose the case concerned in …

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Warren Buffett Predicts Earnings Decline at Berkshire Units

Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over. The billionaire investor expects earnings at the majority of …

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Soldier Denied New Trial to Sue Police Over Violent Stop

A U.S. Army soldier won’t get a new trial for his lawsuit against two police officers after he was pepper- sprayed, struck and handcuffed during a traffic stop in rural Virginia, a federal judge has ruled. Video of the incident …

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State Judge Nixes Trump Damages Suit Against New York Times

Former President Donald Trump’s lawsuit against The New York Times over a 2018 investigative series into his family’s wealth and tax practices was dismissed by a state judge Wednesday. The lawsuit accused the Times and three of its investigative reporters …

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Mechanic Charged with Criminally Negligent Homicide in Fatal NYC Elevator Plunge

An elevator mechanic’s failure to execute basic safety procedures caused an elevator at a New York City building to plunge six stories and crush a co-worker to death, prosecutors said Tuesday. Mechanic Peter Milatz, 67, was charged with criminally negligent …

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Aon Launches Dedicated Unit to Drive Climate Analytics and Advisory

Aon plc, the global professional services firm, has launched a Climate Risk Advisory team to provide physical risk diagnostics and advisory services, aiming to help financial institutions, public sector entities and firms with large real estate holdings to make better …

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Venezuela’s Oil Tankers at Risk of Spills, Sinking, Fires, Collisions: Report

More than half of the 22 oil tankers in Venezuela’s fleet are so run down that they should be immediately repaired or taken out of service, according to an internal report from state-run oil company PDVSA that was shared exclusively …

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California Assembly Passes Insurance Accelerator Bill for Clean-Fuel Truck Fleets

The California State Assembly unanimously voted for a bill that will help accelerate the transition to clean-air technology by making sure clean fleets have access to available and affordable commercial insurance. Assembly Bill 844, the Clean Fleet Insurance Accelerator legislation …

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Attacks on Delivery Drivers Raise Safety Concerns Among Gig Workers

A homeowner fired shots at a couple’s car when they mistakenly turned onto his property while making an Instacart delivery. A Florida man was charged with killing and dismembering an Uber Eats delivery driver who brought food to his home. …

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Generali Agrees to Sell German Specialized Pension Unit to Fosun-Backed Company

Italy’s top insurer Generali said on Thursday it had agreed to sell its German specialized pension unit to Fosun-backed Frankfurter Leben as it seeks to improve profitability in the life business and free up capital. By selling Generali Deutschland Pensionskasse …

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Specialist Risk Group (SRG) Acquires Medical Liability MGA, The MPLC

Specialist Risk Group (SRG), the London-based insurance broker, announced the acquisition of the managing general agent, The Medical Professional Liability Co. Ltd. (The MPLC), subject to regulatory approval. Financial terms of the deal were not disclosed. This latest acquisition is …

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Swiss Re Returns to Q1 Profit, Driven by Adequate Pricing, Higher Investment Results

Swiss Re swung back to a first quarter profit, reporting net income of $643 million, compared with a loss of $248 million for the prior-year period. “Profitability improved in all our main businesses, supported by adequate pricing, higher investment results, …

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Meta Faces Stiff Privacy Review as FTC Claims New Violations

Meta Platforms Inc. was accused by the Federal Trade Commission of repeatedly violating privacy promises it made to US regulators and now faces a possible government ban on launching new social-media products without an independent review. Meta, the parent company …

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Chubb: No Duty to Defend Texas Subway Franchise in Killing Case

ACE American Insurance Company (Chubb) says it has no duty to defend a Texas Subway franchise sued by the family of a former worker killed on site by an ex-boyfriend. In a complaint for declaratory relief filed last week in …

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UK to Ban Cold Calls Selling Insurance and Crypto to Clamp Down on Fraud

The UK is to set to ban cold calls that sell financial products including insurance and cryptocurrencies in an effort to crack down on fraud, which costs the country around £7 billion ($8.7 billion) a year. Announcing its new fraud …

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What to Expect: WTW Spring Commercial Insurance Forecasts Mixed

In striking contrast to last year’s double-digit rate hikes for public directors and officers liability insurance and 100-200% jumps for cyber coverage, some buyers renewing those coverages this spring won’t see their insurance bills increase at all. And many will …

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Firm That Employed Children to Clean Meat Plants Keeps Losing Week

OMAHA, Neb. (AP) – The slaughterhouse cleaning company that was found to be employing more than 100 children to help sanitize dangerous razor-sharp cutting equipment like bone saws has continued to lose contracts with the major meat producers since the …

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Here Are Five Ways Financial Service Providers Are Trying to De-risk Heat Waves

Climate change-driven heat waves are impacting everything from nuclear reactors in France to glaciers in Pakistan. As millions of people around the world are forced to cope with more stifling temperatures, some are turning to hacks like air-conditioned clothing. Cities …

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New Jersey Man Pleads Not Guilty to Multistate Car Theft and Resale Scheme

A former Bergen County, New Jersey man has been charged with running a large, multistate car theft and fraud ring. U.S. Attorney Philip R. Sellinger reported that Warren Guerrier, formerly of Hackensack, New Jersey, pleaded not guilty, to charges of …

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Scientists Probe Sudden Spike in Ocean Temperatures

The world’s oceans have suddenly spiked much hotter and well above record levels in the last few weeks, with scientists trying to figure out what it means and whether it forecasts a surge in atmospheric warming. Some researchers think the …

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Wait ‘Til Next Year: Auto Profit Unlikely to Return in 2023: S&P

In spite of continued actions to raise prices of coverage, auto loss cost continue to climb and profits will continue to elude personal auto insurers—probably until 2024, analysts at Standard & Poor’s said. John Iten, senior analyst and P/C sector …

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California Approves Rule Phasing out Big Diesel Trucks

New big rigs and buses that run on diesel would not be sold in California starting in 2036, according to new rules approved by state regulators last week to wean the state off fossil fuels and combat climate change. The …

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Toyota-Subsidiary Daihatsu Rigged Safety Tests for 88,000 Cars

Toyota Motor Corp. affiliate Daihatsu rigged part of the door in side-collision safety tests carried out for some 88,000 small cars, most of which were sold under the Toyota brand, the companies said on Friday. They said the door trim …

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Epstein Victim Suing JPMorgan Seeks Class-Action Status

A victim of Jeffrey Epstein asked a judge to let her represent more than 100 other women in a lawsuit alleging that JPMorgan Chase & Co. facilitated their abuse by the late financier. A second victim filed an almost identical …

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Executive Bonuses in Crosshairs in New CO2 Proposal: ESG Regulation

Executives will face bonus cuts if the companies they run fail to hit climate transition targets, under a new European Union proposal that greatly expands the range of levers regulators can draw on to meet terms of the Paris Agreement. …

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Maine asks railroad to fix roads, culverts after derailment

Maine environmental regulators have asked a railroad cleaning up a freight train derailment site to repair forest management roads and culverts damaged by heavy equipment and that led to the discharge of sediment into area waters. State Department of Environmental …

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Ex-CFO Gets 3 Years Prison for Stealing From SPACs to Trade Meme Stocks, Crypto

A former chief financial officer of multiple special purpose acquisition companies (SPACs) was sentenced to three years in prison for embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, …

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