Insurance Journal
Over 70,000 Burning Man festival-goers were stranded in Nevada’s Black Rock Desert following heavy rain over the weekend. The Pershing County Sheriff’s Office said one person died during the rain, though details about how the death occurr...
Posted: Sep 08, 2023
Kroger on Friday said it would pay as much as $1.4 billion to resolve thousands of lawsuits by U.S. states, local governments and Native American tribes claiming the supermarket chain’s pharmacies helped fuel the nation’s opioid epidemic....
Posted: Sep 08, 2023
Microsoft will pay legal damages on behalf of customers using its artificial intelligence (AI) products if they are sued for copyright infringement for the output generated by such systems, the company said on Thursday. Microsoft will assume responsi...
Posted: Sep 08, 2023
Lloyd’s syndicate Probitas 1492 has announced the launch of a special purpose arrangement (SPA) for the 2024 year of account (YOA), after receiving in-principle approval from Lloyd’s. The SPA, called “AdA SPA 2024,” is headed...
Posted: Sep 08, 2023
Hurricane Lee has become the strongest Atlantic storm since 2019 with winds of 165 miles (266 kilometers) per hour, and the US National Hurricane Center said the Category 5 system isn’t done growing yet. While the storm is far from …
Posted: Sep 08, 2023
SAVANNAH, Ga. (AP) — Hyundai Motor Group and LG Energy Solution said Thursday they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s sprawling U.S. electrical vehicle plant that’s...
Posted: Sep 08, 2023
Lawyers who sued Facebook over user privacy violations are seeking $180 million in attorneys fees — a sum the judge in the case likened to “Nick Bosa money,” a reference to a $170 million contract the San Francisco 49ers star …
Posted: Sep 08, 2023
RALEIGH. N.C. (AP) — Portions of a lawsuit filed by several North Carolina bars and their operators seeking financial damages from the state over COVID-19 restrictions that shuttered doors and curtailed business can continue forward, an appeals...
Posted: Sep 08, 2023
Prudential Financial Inc. and Warburg Pincus are among investors that contributed a combined $1 billion of equity to create a Bermuda-based reinsurer, Prismic Life Reinsurance Ltd. In its first deal, Prismic is taking on $10 billion of structured set...
Posted: Sep 08, 2023
Guy Carpenter, the reinsurance business of Marsh McLennan, announced the launch of the next generation of its catastrophe analytics platform, GC AdvantagePoint. The updated platform features new technology that will improve the performance and effici...
Posted: Sep 08, 2023
Allianz SE is planning to invest €20 billion ($21.4 billion) in renewable energy and low-carbon technology by 2030, as it unveils its first ever net zero transition plan. The German insurance and asset management giant also plans to increase revenues...
Posted: Sep 08, 2023
Hamilton Insurance Group said on Thursday it has confidentially filed for a U.S. initial public offering, at a time when there is growing momentum for deals involving insurance and reinsurance companies. The U.S. IPO market has seen a nascent recover...
Posted: Sep 08, 2023
Reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025, Fitch Ratings analyst Robert Mazzuoli told Reuters on Thursday. Reinsurers – who insure insurers …
Posted: Sep 08, 2023
Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday. NATO member Turkey is …
Posted: Sep 08, 2023
Hong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing through subway stations, bringing much of the city to a standstill and forcing the stock market to scrap tra...
Posted: Sep 08, 2023
Fato to Assume Newly Created Vice Chair Role at AIG Lucy Fato, executive vice president, general counsel and global head of communications and government affairs at American International Group (AIG), will transition to the newly created role of vice...
Posted: Sep 08, 2023
Walgreens Boots Alliance Inc. has agreed to pay $44 million to settle class action claims by consumers who received flawed blood tests in Arizona and California through the pharmacy chain’s partnership with Theranos Inc. The proposed settlement...
Posted: Sep 08, 2023
Go back just a few years to 2019-2020, when cannabis stocks started to really hit the market in the United States and Canada. Everyone was jumping in. It was the green rush, but in retrospect, a few of those public …
Posted: Sep 08, 2023
The Maui wildfires portend a grand and incalculable reality for every single one of us living on this spinning blue globe we call Earth. Understanding the risks associated with where we live, work and play may be reaching a tipping …
Posted: Sep 08, 2023
Four months after a jury found that Donald Trump sexually abused and defamed advice columnist E. Jean Carroll, a federal judge ruled Wednesday that still more of the ex-president’s comments about her were libelous. The decision means that an up...
Posted: Sep 08, 2023
Oregon employers will pay on average less for workers’ compensation coverage, according to an update from the Oregon Department of Consumer and Business Services. The decline marks 11 years of average decreases in the pure premium rate – the ba...
Posted: Sep 08, 2023
Allstate Insurance has emerged victorious in litigation against two of its former exclusive agents who used and refused to return Allstate spreadsheets with policyholder information after the insurer terminated their agency contracts. Allstate pursue...
Posted: Sep 08, 2023
The Federal Emergency Management Administration (FEMA) announced that federal disaster assistance has been made available to the state of Maine to supplement recovery efforts in the areas affected by a severe storm and flooding on June 26, 2023. Acco...
Posted: Sep 08, 2023
A 59-year-old Connecticut man was seriously injured after being attacked by a bull at the farm where he was working. Family members told Hearst Connecticut Media that the bull attacked Randy Janquins on Friday at a farm in Harwinton, Connecticut, ...
Posted: Sep 08, 2023
JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager JM Wilson has promoted Kristin Bolhuis to assistant property & casualty manager in their Portage, Michigan office. Bolhuis’ responsibilities include assisting the direc...
Posted: Sep 07, 2023