Insurance Journal
The bankrupt estate of Purdue Pharma says it will support a move by the opioid maker’s creditors to sue members of the Sackler family over allegations that they improperly shifted billions of dollars of Purdue profits into offshore trusts. The...
Posted: Jul 09, 2024
A Russian court has ordered Volkswagen to pay 16.9 billion roubles ($193 million) in damages to Russian carmaker GAZ Group, which had sued the German automaker over lost profits after Volkswagen exited the Russian market. In May 2023, Volkswagen fina...
Posted: Jul 09, 2024
Much of Houston remained without power in Tropical Storm Beryl’s wake, and authorities warned the blackout could last days even as heat builds across the battered region. Beryl left the nation’s fourth-largest city a morass of flooded str...
Posted: Jul 09, 2024
Europe’s financial markets watchdog said companies shouldn’t anticipate that the complexity of new ESG reporting requirements will excuse sloppy disclosures. The European Securities and Markets Authority acknowledged that complying with t...
Posted: Jul 09, 2024
Earth’s more than year-long streak of record-shattering hot months kept on simmering through June, according to the European climate service Copernicus. There’s hope that the planet will soon see an end to the record-setting part of the h...
Posted: Jul 09, 2024
This post is part of a series sponsored by IAT Insurance Group. This episode covers continuing and emerging challenges contractors face in construction and how to safeguard projects amidst volatility. This episode features IAT Surety’s AVP of H...
Posted: Jul 09, 2024
Similac baby formula maker Abbott was expected to face a trial on Monday over claims that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease, the second trial out of hundreds of …
Posted: Jul 09, 2024
It’s not waning market discipline but the scourge of social inflation that industry leaders of commercial lines insurance businesses see as a potential threat to future profits, a trio of property/casualty chief executives said recently. Review...
Posted: Jul 09, 2024
In 1997, Florida lawmakers tweaked the state’s personal injury protection or “no-fault” auto insurance law. The idea was to allow school kids injured in a school bus accident to have some of their medical bills covered by their pare...
Posted: Jul 09, 2024
Homebuilder-stock analysts are increasingly worried about signs of softening in key hot spots like Florida and Texas. Lennar Corp. and D.R. Horton Inc. were downgraded by Citigroup Inc. analyst Anthony Pettinari on concerns the housing market could s...
Posted: Jul 09, 2024
The owner of a Liverpool, Pennsylvania roofing company risked the lives of two of his children by exposing them to falls from heights while they worked on roofs atop a Mechanicsburg apartment complex in June 2024, a Occupational Safety and …
Posted: Jul 09, 2024
A state-managed earthquake insurer for homeowners in California is opting to borrow from the public debt market in lieu of paying for additional coverage that would shield it against risks. The California Earthquake Authority plans to sell $250 milli...
Posted: Jul 09, 2024
Fifteen firefighters were injured fighting a large blaze at a fertilizer warehouse in South Hill, Virginia early Saturday morning. The firefighters were hospitalized due to chemical exposure, heat exhaustion and minors scrapes and burns. All were tre...
Posted: Jul 09, 2024
This post is part of a series sponsored by AgentSync. Picture this: You’ve taken all the necessary steps to become a licensed insurance producer. You’ve completed all of your state’s pre-licensing requirements, passed the official l...
Posted: Jul 08, 2024
Former USAA chief executive officer Josue “Joe” Robles Jr., 78, died July 4. In a post to X, the company said: “Joe was a soldier at his core, and his service included multiple deployments and several distinguished honors. General R...
Posted: Jul 08, 2024
Pennsylvania lawmakers should consider granting homeowners tax breaks for water damage expenses, mitigation and repair costs, and flood insurance premiums, according to a new state report. Those are several of the recommendations by a task force that...
Posted: Jul 08, 2024
CLEVELAND (AP) — Authorities have suspended the search for a missing boater in Lake Erie after rescuing two others and pulling another person from the water who later died. The U.S. Coast Guard Great Lakes station said a distress call …
Posted: Jul 08, 2024
Hurricane Beryl has knocked out power for more than 2.3 million Texas customers, as of 10:27 a.m. Monday, based on estimates from PowerOutage.us and CenterPoint Energy. Outages are most extensive in the Houston area and coastal counties including Mat...
Posted: Jul 08, 2024
BATON ROUGE, La. (AP) — Louisiana Gov. Jeff Landry announced last week that Jay Grymes, the chief meteorologist for WAFB-TV in Baton Rouge, will serve as the new state climatologist. Among responsibilities in his role, Grymes will be tasked with R...
Posted: Jul 08, 2024
BATON ROUGE, La. (AP) — Louisiana Gov. Jeff Landry announced last week that Jay Grymes, the chief meteorologist for WAFB-TV in Baton Rouge, will serve as the new state climatologist. Among responsibilities in his role, Grymes will be tasked with R...
Posted: Jul 08, 2024
This edition of International People Moves details appointments at the MGA Devonshire Underwriting and Generali Global Corporate & Commercial (GC&C), . A summary of these new hires follows here. Grant Joins MGA Devonshire Underwriting as Unde...
Posted: Jul 08, 2024
A challenge to a Biden administration rule allowing socially conscious investing by employee retirement plans will present an early test of how courts will scrutinize federal regulations after the U.S. Supreme Court said they no longer have to defer...
Posted: Jul 08, 2024
Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers (RSIB), a UK community broker that operates in the Shropshire, Staffordshire, West Midlands and North Wales regions with significant reach in London as well as other areas of the countr...
Posted: Jul 08, 2024
Brazil’s environmental agency IBAMA has sued Syngenta alleging the chemicals company caused “environmental damage” by producing and selling pesticides using much higher concentrations of a carcinogen than allowed under law, accordin...
Posted: Jul 08, 2024
Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three renewal reports from reinsura...
Posted: Jul 08, 2024