Insurance Journal
Giants of the orange juice trade in Brazil have become defendants in a class-action lawsuit seeking $2.5 billion in damages over an alleged scheme to fix prices between 1999 and 2006, a prosecutor told Reuters. Federal Prosecutor Karen Kahn said R...
Posted: Apr 10, 2023
Arthur J. Gallagher & Co. announced the acquisition of Wichita Falls, Texas-based Boley-Featherston Insurance. Terms of the transaction were not disclosed. Boley-Featherston is a retail insurance agency with expertise in oil and gas, construction...
Posted: Apr 10, 2023
A federal court has rejected a proposed class action by students against Boston University over alleged damages they suffered due to cutbacks by the school during the Covid-19 pandemic. The students sought a refund of payments they made for tuition &...
Posted: Apr 10, 2023
In a “deliberate and modest fashion,” the composite rate for commercial property and casualty lines increases 5% during the first quarter 2023, according to MarketScout. The Dallas-based distribution and underwriting company’s Marke...
Posted: Apr 10, 2023
Cannabis regulators have halted operations at several outdoor pot farms and processing facilities on a stretch of former fruit orchards in north- central Washington state after testing found high levels of chemicals related to a dangerous pesticide u...
Posted: Apr 10, 2023
A judge canceled the air quality permit for a natural gas power plant that’s under construction along the Yellowstone River in Montana citing worries over climate change. State District Judge Michael Moses ruled that Montana officials failed to...
Posted: Apr 10, 2023
Russia on Friday threatened to bypass the UN-brokered grain deal unless obstacles to its agricultural exports were removed, while talks in Turkey agreed removing barriers was a necessary condition to extending the agreement beyond next month. The Bla...
Posted: Apr 10, 2023
A legal battle over a dress code for bikini baristas at coffee stands is ending after a city north of Seattle agreed to pay $500,000 to the owner and employees who sued over it six years ago. The Everett City …
Posted: Apr 10, 2023
Hub International Ltd. acquired the assets of DeFranco Insurance, Inc. in Seattle, Washington. John DeFranco, President, and the DeFranco Insurance team will join Hub Northwest. DeFranco Insurance is an independently owned and locally operated insura...
Posted: Apr 10, 2023
The National Weather Service said Thursday it was surveying damage from three EF-1 tornadoes that touched down in Kentucky. According to preliminary information, tornadoes hit the Pleasure Ridge Park and Newburg sections of Louisville on Wednesday ev...
Posted: Apr 10, 2023
The bodies of two men and two women have been recovered following a small plane crash just off Florida’s Gulf Coast, police said Thursday. The plane had just taken off from Venice Airport when it crashed into the Gulf of …
Posted: Apr 10, 2023
The North Carolina General Assembly would get to choose more members of several powerful state commissions, including the Utilities Commission, an economic investment committee, and environmental and health boards, under legislation approved by the R...
Posted: Apr 10, 2023
The Gorky Automobile Plant, part of Russia’s GAZ Group which was contracted to assemble cars for Volkswagen, has filed a lawsuit to recover 28.4 billion roubles ($348 million) from the German automaker, court records show. The lawsuit, details...
Posted: Apr 10, 2023
An analysis that was the basis of a highly criticized recommendation from Florida’s surgeon general cautioning young men against getting the COVID-19 vaccine omitted information that showed catching the virus could increase the risk of a cardia...
Posted: Apr 10, 2023
Canopius Group, a global specialty reinsurer, announced a new partnership with managing general agent Falvey Insurance Group (FIG) to offer inland marine coverage in the United States. This marks the first time that Canopius U.S. and Falvey will be w...
Posted: Apr 10, 2023
Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best report. In addition to the five Loui...
Posted: Apr 10, 2023
Three former executives of a company that makes machines that test lead levels in humans deliberately concealed a problem with the devices that produced falsely low results for tens of thousands of children, federal prosecutors in Boston said last we...
Posted: Apr 10, 2023
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of R&Q Insurance Holdings’ three wholly owned program managem...
Posted: Apr 10, 2023
The office vacancy rate in downtown Toronto reached its highest point since 1995 as the persistence of remote work damps companies’ need for space in Canada’s most-populous city. The vacancy rate in the city core, home to the largest Cana...
Posted: Apr 10, 2023
Reported demise of the independent insurance agency as a sales and distribution channel have been greatly exaggerated. Over the course of a decade or more of predictions about the growth of the direct-to-consumer models, independent agents continue t...
Posted: Apr 10, 2023
Although the pandemic may appear more distant in the rearview mirror, its lasting impact on the personal auto insurance industry may be larger than initially expected. Private passenger automobile insurance is the largest segment of the U.S. property...
Posted: Apr 10, 2023
The U.S. Environmental Protection Agency is set to propose new rules to spur sweeping cuts in vehicle emissions pollution that will push automakers towards a big increase in electric vehicle sales, sources told Reuters. The proposed rules are expecte...
Posted: Apr 10, 2023
The practice of insurance companies revising independent adjusters’ damage reports may be as widespread in Louisiana as it is in Florida, according to adjusters and a plaintiffs’ attorney who has filed a lawsuit over it. “They chang...
Posted: Apr 10, 2023
While the Catholic Archdiocese of Baltimore has long touted its transparency in publishing the names of clergy credibly accused of sexual abuse, a report released this week by the Maryland attorney general’s office raises questions about whethe...
Posted: Apr 10, 2023
HAMDEN, Conn. (AP) – A Connecticut woman who was seriously injured when a police officer opened fire on her and her boyfriend as they sat in a car unarmed has settled a lawsuit over the shooting for about $1.1 million. …
Posted: Apr 10, 2023