Insurance Journal
Bonds designed to insure Credit Suisse Group AG against disaster could outlive the bank. Credit Suisse’s Operational Re bonds, insurance-linked securities that cover the bank against perils such as falling victim to fraud and accounting errors,...
Posted: Mar 27, 2023
The U.S. Supreme Court on Monday declined to hear a disbarred environmental lawyer’s challenge to his criminal contempt conviction after he earlier won but was unable to collect a $9.5 billion judgment against Chevron Corp. over oil pollution i...
Posted: Mar 27, 2023
Specialist insurance provider CFC recently announced the expansion of its admitted product suite with the addition of professional liability and technology E&O. The company has been trading its admitted solution for cyber since 2020. Leveraging C...
Posted: Mar 27, 2023
ConocoPhillips, which last week received U.S. government approval for the massive Willow oil drilling project in Alaska, detailed reasons for a natural gas leak at another North Slope field that prompted the evacuation of 300 employees last year. Off...
Posted: Mar 27, 2023
Hackers obtained data on some employees of the UK’s Pension Protection Fund after exploiting a third-party data transfer service, according to a fund spokesperson. The Pension Protection Fund manages £39 billion of assets for its 295,000 member...
Posted: Mar 27, 2023
A New York-licensed pain management doctor has been sentenced to 36 months in prison for his participation in a scheme to obtain fraudulent insurance reimbursements and other compensation from fraudulent trip-and-fall accidents. Damian Williams, U.S....
Posted: Mar 27, 2023
A New York-licensed pain management doctor has been sentenced to 36 months in prison for his participation in a scheme to obtain fraudulent insurance reimbursements and other compensation from fraudulent trip-and-fall accidents. Damian Williams, U.S....
Posted: Mar 27, 2023
This edition of International People Moves details appointments at Acrisure Re, MS Amlin and Tysers Broking. A summary of these new hires follows here. Acrisure Re Hires Ed Broking’s D’Arcy for Facultative Team Acrisure Re, the re/insuran...
Posted: Mar 27, 2023
Georgia lawmakers have approved a bill that, if signed into law, would end the longstanding “use-and-file” mechanism on auto insurance rate filings in the state. The state Senate last week voted 49-2 in favor of House Bill 221, a measure...
Posted: Mar 27, 2023
LITTLE ROCK, Ark. (AP) – Arkansas Gov. Sarah Huckabee Sanders last Tuesday signed a law prohibiting transgender people at public schools from using the restroom that matches their gender identity, the first of several states expected to enact s...
Posted: Mar 27, 2023
MADISON, Wis. (AP) – A factory farm has agreed to pay the Wisconsin Department of Justice $215,000 to settle pollution allegations. The Legislature’s finance committee is slated to approve the deal during a meeting last Tuesday. According...
Posted: Mar 27, 2023
MONTICELLO, Minn. (AP) – A Minnesota utility began shutting down a nuclear power plant near Minneapolis on Friday after discovering water containing a low level of radioactive material was leaking from a pipe for the second time. While the util...
Posted: Mar 27, 2023
DALLAS (AP) – The company responsible for maintaining a Texas interstate where 130 vehicles crashed in icy conditions two years ago, killing six and injuring dozens, failed to address the deteriorating road conditions, federal officials said la...
Posted: Mar 27, 2023
E-cigarette company Juul Labs Inc. and its former largest investor, Marlboro maker Altria Group Inc., will face their first U.S. trial this week over claims that they created a public nuisance by marketing addictive e-cigarettes to minors. Minnesota...
Posted: Mar 27, 2023
HDI Global Specialty SE (HDI) has launched a new insurance platform in Canada which delivers general aviation policies to brokers in minutes. The platform, called “Aviation IQ” delivers end-to-end digital automation of general aviation in...
Posted: Mar 27, 2023
A trial kicks off in San Francisco federal court on Monday to determine how much money Tesla Inc. must pay to a Black elevator operator who a jury determined was subjected to severe racial harassment while working at the electric …
Posted: Mar 27, 2023
Skyrisks Ltd. is set to launch as a managing general agent, partnering with capacity provider Convex Group Ltd., aiming to address the fast-growing insurance needs of the advanced air mobility (AAM) sector. The AAM sector embodies the future of aviat...
Posted: Mar 27, 2023
Credit Suisse bondholders are seeking legal advice after the Swiss regulator ordered 16 billion Swiss francs ($17.5 billion) of Additional Tier-1 (AT1) debt to be wiped out under its rescue takeover by UBS. These higher-yielding junior bonds emerged...
Posted: Mar 27, 2023
Sun Pharmaceutical Industries Ltd. expects revenue to fall as measures taken by India’s top drugmaker to contain an information technology security breach in early March impacted operations. A ransomware group has claimed responsibility for the...
Posted: Mar 27, 2023
The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn’t had a full inspection since 2017, according to a database dedicated to promoting safe shipping. It also lacks industry standard insurance and sails...
Posted: Mar 27, 2023
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions uncertain, the line is under pressure...
Posted: Mar 27, 2023
PHOENIX — Nearly a third of injured workers in Massachusetts sought treatment for strains and sprains in a hospital emergency room, while in California and Nevada only 10% did, according to a study by the Workers’ Compensation Research Institut...
Posted: Mar 27, 2023
PHOENIX — Nearly a third of injured workers in Massachusetts sought treatment for strains and sprains in a hospital emergency room, while in California and Nevada only 10% did, according to a study by the Workers’ Compensation Research Institut...
Posted: Mar 27, 2023
Hyundai and Kia are recalling just over 570,000 U.S. vehicles over fire risks and urged owners to park outside and away until getting repairs. The automakers said some vehicles with a tow hitch harness could catch fire due to a …
Posted: Mar 27, 2023
Florida authorities on Friday charged a man with unlicensed contracting, insurance fraud and failing to obtain workers’ compensation coverage on his workers, after he solicited Tampa-area homeowners for roof replacement work. John Sutton, doing...
Posted: Mar 27, 2023