Insurance Journal

Dredger That Hit Tanker Reported Sudden Loss of Control; Oil Spill Cleanup Ongoing

Singapore authorities said Monday a dredger boat reported a sudden loss in engine and steering control that led it to hit a stationary cargo tanker, causing an oil spill that has blackened part of the city-island’s southern shores. The Netherla...

Posted: Jun 18, 2024

More Than 800 Coal Plants Worldwide Could Be Profitably Decommissioned: Research

More than 800 coal-fired power plants in emerging countries could be decommissioned and profitably replaced by cleaner solar energy starting from the end of the decade, research on Monday showed. Though only a tenth of existing coal plants are schedu...

Posted: Jun 18, 2024

Top Shipping Flag Cuts Approval for Sanctioned Russian Insurer

The world’s largest shipping register withdrew its approval for Russia’s Ingosstrakh Insurance Co. to provide a key document enabling ships to enter ports. The Liberian Register — under whose flag 16% of the world’s ships by capacit...

Posted: Jun 18, 2024

Supreme Court to Hear Nvidia Bid to Scuttle Shareholder Lawsuit

The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The...

Posted: Jun 18, 2024

Thanks to AI, Industry will Soon See Big Jump in Parametric Insurance, Consultant Says

Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that coverage lends itself perfectly t...

Posted: Jun 18, 2024

J&J Talc Users Want Cancer Checks Even If It Cost Billions

Johnson & Johnson should be on the hook for potentially billions of dollars in medical fees for women who used its talc-based baby powders and want to monitor their future health over cancer fears, according to a lawsuit. Lawyers representing &#8...

Posted: Jun 18, 2024

Jersey Shore Police, Pols Weigh Holding Parents Responsible for Kids’ Rowdy Behavior

Parents should be held civilly or criminally responsible for the actions of their children that create disturbances or damage in public places, a group of New Jersey police chiefs and Republican lawmakers said Wednesday during a forum held after a &#...

Posted: Jun 18, 2024

Investigators Say Tanker Spilled Gas in Crash That Destroyed I-95 Bridge in Philly

Gasoline spilled out from an unsecured hatch on the top of the gasoline delivery tanker that overturned and ignited beneath an Interstate 95 bridge in Philadelphia a year ago, according to new details from federal investigators. Video evidence obtain...

Posted: Jun 18, 2024

Workers’ Comp Institute Examines California’s Proposed Presumption for Agricultural Heat Injuries

A bill that would give a presumption of compensability to farmworker heat-related injury claims if an employer is found to be out of compliance with Cal/OSHA’s outdoor heat illness prevention standard would likely create more challenges than it...

Posted: Jun 18, 2024

Research Shows How Underwater Fault Could Devastate West Coast with Major Quake and Tsunami

New research is warning about an underwater fault that could devastate the West Coast with a major earthquake and tsunami. Seismologists have issued warnings that the Cascadia Subduction Zone, an offshore fault from British Columbia to Northern Calif...

Posted: Jun 18, 2024

People Moves: Hotchkiss Insurance Expands Partnership with Bailey, Fondren and Rivera

Hotchkiss Insurance, headquartered in Carrollton, Texas, is named of three new partners: Chris Bailey, Chase Fondren, and Dustin Rivera. Bailey has been an integral part of Hotchkiss for the past nine years, serving as a commercial insurance speciali...

Posted: Jun 17, 2024

States Lose Challenge to Legal Protections for Workers Who Get Abortions

A federal judge in Arkansas has tossed out a legal challenge by 17 Republican-led states to a U.S. agency rule giving workers who had abortions the same legal protections as those who are pregnant or recently gave birth. U.S. District …

Posted: Jun 17, 2024

Severe Storms Caused $722M in Catastrophe Losses in May: Progressive

Progressive on Friday said severe storms mostly in Texas and the Midwest caused about $722 million in net catastrophe losses to the insurer. In its monthly announcement of financial results on Friday, the Mayfield Village, Ohio-based insurer said the...

Posted: Jun 17, 2024

Texan Whose Husband Died by Hot Tub Electrocution at Mexican Beach Resort Files Suit

MEXICO CITY (AP) — An American tourist was killed and his wife hospitalized after being electrocuted in a hot tub in a Mexican beach town earlier this week, an incident that prompted the family to sue the resort for wrongful …

Posted: Jun 17, 2024

Family of Bystander Killed in Minneapolis Police Chase Sues City

MINNEAPOLIS (AP) — The family of a bystander killed during a 2021 police chase in Minneapolis is suing the city and alleging that dangerous pursuits are more common in areas of the city with predominantly Black residents. Relatives of Leneal …

Posted: Jun 17, 2024

Illinois Contractor Faces $264K Fine for Exposing Workers to Deadly Fall Hazards

Federal workplace safety inspectors found an Illinois construction contractor — cited seven times since 2020 — again exposing employees doing framing work to the risk of deadly falls from elevation at two homes under construction in Hanover Park in D...

Posted: Jun 17, 2024

People Moves: WTW Hires Aon’s Graziano to Lead Casualty Strategy for CRB NA; Markel Names McGrath He...

WTW appoints Graziano as Casualty Strategy and Execution Leader for CRB NA WTW appointed Len Graziano as casualty strategy and execution leader within Corporate Risk and Broking, North America (CRB NA). Graziano joins WTW from Aon, where he led the &...

Posted: Jun 17, 2024

People Moves: McCarthy to Become ISU CEO; WTW Hires Aon’s Graziano to Lead Casualty Strategy for CRB...

ISU Group (ISU), an independent agency network, said Dan McCarthy will become the next chief executive officer, assuming the responsibilities held by T.J. Ryan III over the past 35 years. McCarthy is currently ISU’s chief operating officer, a r...

Posted: Jun 17, 2024

Florida Officers Indicted for Shootout That Killed UPS Driver and Passerby

FORT LAUDERDALE, Fla. (AP) — Four Florida police officers have been indicted for manslaughter in connection with a 2019 shootout on a busy rush-hour street that left a hijacked UPS driver and a passerby in a nearby car dead. A …

Posted: Jun 17, 2024

Report: Corporate Risk Level Highest in 12 Years

Economic volatility, geopolitical upheaval and artificial intelligence (AI) have driven the corporate threat level to its highest in 12 years, according to Clyde & Co’s 2024 Corporate Risk Radar. The survey of C-Suite decision-makers, in-ho...

Posted: Jun 17, 2024

Idaho Police Force Lost Millions in Gear and Vehicles in Fire

Police in northern Idaho lost millions of dollars worth of law enforcement equipment and vehicles in a fire that tore through a department building over the weekend, Coeur d’Alene police said. No one was injured in the fire that broke …

Posted: Jun 17, 2024

City in Upstate New York Restoring Systems Shuttered by Cyber Incident

The city of Newburgh in New York’s Orange County is today reopening its City Hall while continuing to work on restoring municipal services following identification of a cyber incident last Monday. The network security incident led to a temporar...

Posted: Jun 17, 2024

City in Upstate New York Restoring Systems Disrupted by Cyber Incident

The city of Newburgh in New York’s Orange County is today reopening its City Hall while continuing to work on restoring municipal services following identification of a cyber incident last Monday. The network security incident led to a temporar...

Posted: Jun 17, 2024

Strong Winds Driving Southern California Wildfire

Strong winds drove a wildfire that forced the evacuation of more than 1,000 visitors to a recreation area and threatened nearby properties over the weekend. Flames burned through dry brush along Interstate 5 north of Los Angeles on Sunday, and &#8230...

Posted: Jun 17, 2024

People Moves: Canopius Taps Getty From Talbot for Cyber Team; Howden Promotes Hipson to Head of Lond...

This edition of International People Moves details appointments at special re/insurer Chaucer Group and the London-based broker Howden. A summary of these new hires follows here. Canopius Taps Getty From Talbot for Cyber Team Canopius Group, the Lond...

Posted: Jun 17, 2024