1 month 2 weeks ago
Insurance industry financial strength rating agency AM Best said today that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks …
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1 month 2 weeks ago
An Iowa-based ice cream manufacturer has recalled nearly 18,000 containers of ice cream and frozen yogurt over concerns they could contain pieces of plastic. Wells Enterprises issued the voluntary recall last month, according to recently released information from the Food …
1 month 2 weeks ago
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senate floor …
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1 month 2 weeks ago
Massachusetts Insurance Commissioner Michael Caljouw has rejected an industry proposal to raise workers’ compensation rates by 7.1%. As a result, existing rates, which reflect a 14.6% decrease ordered last July, will remain in effect for policies on and after July …
Andrew G. Simpson
1 month 2 weeks ago
Bayer is preparing a plan to settle some of its mass lawsuits over Roundup weedkiller in Missouri, and may also seek bankruptcy for its Monsanto unit if the effort fails, the Wall Street Journal reported, citing sources. The German pharmaceutical …
1 month 2 weeks ago
Shields Health Care Group has agreed to pay $15.3 million to settle federal and state class actions filed against it by patients over a 2022 data breach. Shields operates medical imaging and surgical centers in 50 locations across the New …
Andrew G. Simpson
1 month 2 weeks ago
Japan’s three major casualty insurers plan to sell a total of about ¥1.37 trillion ($9.5 billion) of cross-held shares in the fiscal year started April in a push to reduce strategic holdings in line with government policy. Tokio Marine Holdings …
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1 month 2 weeks ago
Boroughs Named Vice Chairman, Chubb Group; Hogan Succeeds Boroughs as Chubb Group Chief Investment Officer Chubb Limited, with U.S. headquarters in Warren, New Jersey, named Tim Boroughs vice chairman, Chubb Group and executive chairman, asset management. Chris Hogan has been …
1 month 2 weeks ago
More tornadoes plowed through the central U.S. on Monday and thousands were without power as people from Texas to Kentucky continued to clean up from days of severe weather that killed more than two dozen people and destroyed thousands of …
1 month 2 weeks ago
Driverless vehicle developer Aurora Innovation Inc. is putting a human back in front of the wheel of big rigs operating in Texas, reversing course less than three weeks after the company began commercial autonomous service there. The decision to move …
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1 month 2 weeks ago
The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricanes Milton and Helene have been settled, …
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1 month 2 weeks ago
Italy’s data protection agency has fined the developer of artificial intelligence (AI) chatbot company Replika 5 million euros ($5.64 million) for breaching rules designed to protect users’ personal data, the authority said on Monday. Launched in 2017, San Francisco-based startup …
1 month 2 weeks ago
EY failed to spot a major fraud by main shareholders of UAE hospital operator NMC Health in what lawyers for the firm’s administrators described as disgraceful auditing, at the start of a roughly $3 billion London trial on Monday. The …
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1 month 2 weeks ago
The EU will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said on Monday. …
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1 month 2 weeks ago
Motion Specialty has been approved as a Lloyd’s of London coverholder, founded by former Hiscox executives Dan Alpay and Alex Kickham. The business writes on behalf of Lloyd’s Syndicate 1301, managed by Inigo Ltd., and is supported by Johnson and …
1 month 2 weeks ago
The Federal Communications Commission said it was approving Verizon Communication’s $20 billion deal to acquire fiber-optic internet providers Frontier Communications after the largest U.S. telecom company agreed to end its diversity, equity and inclusion programs. Verizon agreed to buy Frontier …
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1 month 2 weeks ago
Oregon Gov. Tina Kotek named Sean O’Day as acting director of the Oregon Department of Consumer and Business Services (DCBS). O’Day is currently the deputy director for DCBS. In his new role, he replaces Andrew R. Stolfi, who the Oregon …
1 month 2 weeks ago
An audit of Maryland autopsies has uncovered at least 36 deaths in police custody that should have been considered homicides, state officials announced Thursday following a comprehensive review of such cases spurred by widespread concerns about the former state medical …
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1 month 2 weeks ago
Federal safety officials are probing an incident at New York’s LaGuardia airport earlier this month, during which a Republic Airways jet had to abort takeoff to avoid a collision with a United Airlines Holdings Inc. plane taxiing on the same …
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1 month 2 weeks ago
Idaho police released the names of six people from China, Italy and California killed when a pickup truck collided with their tour van in a fiery crash near Yellowstone National Park earlier this month. Idaho State Police said Jianping Li, …