Insurance Journal

DeSantis, Amid Criticism, Signs Bill Making Climate Change Less of a Priority

TALLAHASSEE, Fla. (AP) — Climate change will be a lesser priority in Florida and largely disappear from state statutes under legislation signed Wednesday by Florida Gov. Ron DeSantis that also bans power-generating wind turbines offshore or near the...

Posted: May 17, 2024

Family of California Veteran Who Died After Officer Knelt on His Neck Settles for $7.5M

Family members of a Navy veteran who died in 2020 after a police officer pressed a knee to his neck for nearly five minutes while he was in a mental health crisis have settled a federal lawsuit against the Northern …

Posted: May 17, 2024

SEC Updates Customer Data Hacking Rules for Wall Street

Wall Street’s top regulator on Thursday said it had updated rules to ensure investment companies and others work to detect and respond to hackers’ theft of customer data. The changes, approved unanimously by the five-member U.S. Securitie...

Posted: May 17, 2024

Texas Storms Leave 800,000 Without Power While Flights Grounded

A line of dangerous storms and flooding rains rolled over the US Gulf Coast, killing at least four people and leaving more than 800,000 customers in Texas — about 6% of the total — without power while grounding hundreds of …

Posted: May 17, 2024

Markets/Coverages: Aon Offers Carbon Capture, Storage Insurance for Energy Transition

Insurance broker Aon plc has developed a new insurance product designed for international transport and storage companies that are engaged in storing carbon dioxide for decarbonization projects across the globe. The new product is aimed at providing...

Posted: May 17, 2024

Ardonagh Group’s MDS Brazil to Acquire Brazilian Broker D’Or Consultoria

MDS Brazil, a subsidiary of Ardonagh-owned MDS Group and one of the country’s major brokers, announced it intends to acquire D’Or Consultoria, a health, dental, life insurance and pensions broker from Rede D’Or Sao Luiz. S.A. The tr...

Posted: May 17, 2024

Volkswagen Reaches $54 Million ‘Dieselgate’ Settlement With Italian Owners

Volkswagen and a group representing car owners in Italy have reached an agreement worth more than 50 million euros ($54 million) to end a legal battle over the “dieselgate” emissions scandal, they said on Wednesday. In the settlement, ove...

Posted: May 17, 2024

Wildfires Could Affect Over Half of Canada’s Oil Sands Output: Report

More than half of the oil sands production from Canada could be impacted if the wildfires in Alberta and British Columbia worsen, Rystad Energy said in a report on Thursday. WHY IT’S IMPORTANT Canada is one of the biggest oil …

Posted: May 17, 2024

Firefighters Gain Control of One Blaze Threatening Oil Sands in Alberta

Firefighters gained control of one wildfire near the main oil-sands region of Alberta on Wednesday, but continued to battle a much larger blaze to the south that’s threatening the area’s biggest city. The fire just north of Fort McMurray,...

Posted: May 17, 2024

People Moves: Marsh McLennan Agency Appoints Rappa Fine Arts and Specie Leader

Marsh McLennan Agency, headquartered in New York, appointed Anne Rappa to the newly created position of fine arts and specie leader effective May 20. Based in New York, Rappa will work with teams in the U.S. and London to deliver …

Posted: May 17, 2024

Auto Insurance Shopping ‘Hot,’ Consumers Switching ‘Sizzling’: LexisNexis

Shoppers in the U.S. aren’t ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds. U.S. consumer auto insurance shopping activity registered as “Hot” on the LexisNexi...

Posted: May 17, 2024

Sony Music Warns Companies to Stop Training AI on Its Artists’ Content

Sony Music Group, one of the world’s biggest record labels, warned artificial intelligence companies and music streaming platforms not to use the company’s content without explicit permission. Sony Music, whose artists include Lil Nas X a...

Posted: May 17, 2024

Greater Chance of Major Hurricane on East Coast This Year, Less in Gulf, Scientist Says

Multiple computer models from forecasting organizations across the globe have predicted a very active hurricane season starting next month, spelling trouble for Florida and much of the Eastern United States. The models aren’t wrong, said Phil K...

Posted: May 17, 2024

Washington Contractor, Grower Face $650K in Fines After Worker Dies in Apple Storage Room

Two Washington companies face a combined $650,000 in fines for violations in connection with a worker who died from asphyxiation after entering an apple storage facility where the oxygen had been removed from the air. The incident on Oct. 1, …

Posted: May 17, 2024

Judge Hears Atlantic City Casino Workers’ Anti-Smoking Lawsuit

A group of Atlantic City casino workers asked a judge Monday to ban smoking in the gambling halls, citing the toxic effects of working in a “poisonous” atmosphere, while the state said ending smoking could jeopardize a half-billion-dollar...

Posted: May 17, 2024

CyberTrust Massachusetts Launches Cybersecurity Services for Cities and Towns

The nonprofit CyberTrust Massachusetts recently launched cyber assessment and monitoring services to help cities and towns in the state address the trend of escalating cyber attacks, ransomware, infrastructure disruption and data breaches. The launch...

Posted: May 17, 2024

Judge Won’t Discard $38M Verdict in New Hampshire Youth Center Abuse Case

The judge who oversaw a landmark trial about New Hampshire’s youth detention center has refused to discard the $38 million verdict, saying the facility’s leadership “either knew and didn’t care or didn’t care to learn th...

Posted: May 17, 2024

Former Raiders Coach Loses Nevada High Court Ruling in NFL Emails Suit

Former NFL coach Jon Gruden lost a Nevada Supreme Court ruling in a contract interference and conspiracy lawsuit he filed against the league after he resigned from the Las Vegas Raiders in 2021, but his lawyer said he will appeal. …

Posted: May 17, 2024

People Moves: Alliant Adds Rison; Lawley Grows Sales Team

Alliant Private Client Names Rison SVP Julie Rison has joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president, Alliant Private Client. Based in Virginia, Rison will identify and pursue opportunities within th...

Posted: May 17, 2024

Investigation Continues Into 4 Blackouts on Ship That Caused Baltimore Bridge Collapse

The electrical blackouts experienced by the container ship Dali before it left Baltimore’s port were “mechanically distinct from” those that resulted in the deadly collapse of the Francis Scott Key Bridge hours later, according to c...

Posted: May 17, 2024

California Trucker Death Led to Workers’ Comp Investigation That Found $2M in Underreported Payroll

An investigation began after an employee was found dead in a company owned semi-truck led to the arraignment of a California man on three felony counts of workers’ compensation fraud. Heigo Kubar, 84, of Fresno, was arraigned this week on &#823...

Posted: May 17, 2024

People Moves: Klett Named President of Huntington Insurance, Inc.

Huntington Bancshares Incorporated, parent company of The Huntington National Bank, headquartered in Columbus, Ohio, appointed Angie Klett as president of Huntington Insurance, Inc. Current president Mary Beth Sullivan is retiring July 1 after nearly...

Posted: May 16, 2024

Storms Destroy Nearly 50 Homes in Southwestern Michigan: Officials

PORTAGE, Mich. (AP) — Nearly 50 homes were destroyed and dozens more were seriously damaged during severe weather last week in southwestern Michigan’s Kalamazoo County, authorities said Monday. The lost homes included 24 mobile homes near Porta...

Posted: May 16, 2024

Flood-Prone Houston Faces a Deluge of More Rain: Weather Watch

Heavy rain will sweep across eastern Texas into Louisiana and Mississippi on Thursday, raising flood risks across the Gulf of Mexico states. Flood watches have been posted from Dallas and Houston eastward across Louisiana and Mississippi. There is al...

Posted: May 16, 2024

King Insurance Acquires Marcus Agency in Connecticut

Florida-based King Insurance Partners announced it has acquired Marcus Insurance, an independent agency based in Wethersfield, Connecticut. The terms were not disclosed. Founded in 1941, Marcus Insurance is a family-run agency with Mitch Marcus as pr...

Posted: May 16, 2024