Insurance Journal
Had the federal government not stepped in to make Silicon Valley Bank (SVB) depositors whole, providers of directors and officers insurance for startups and venture capitalists – as well as financial institutions supporting these entities – would hav...
Posted: Mar 15, 2023
App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker prote...
Posted: Mar 15, 2023
The poorly executed handoff of a claims file from a retiring claims adjuster to his replacement may have made USAA liable for a $5.2 million excess judgment. A panel of the U.S. 11th Circuit Court of Appeals on Tuesday reversed …
Posted: Mar 15, 2023
Three people were killed in a house fire as multiple propane tanks exploded, officials said. ”Explosions were going off inside the home” when firefighters arrived early Saturday morning, Barrow County Fire Chief Alan Shuman told news outl...
Posted: Mar 15, 2023
The Georgia Senate gave final approval Monday to a school safety bill pushed by Gov. Brian Kemp that includes annual active shooter drills, sending it to the Republican governor’s desk for his signature. The Senate voted 52-3 for House Bill ...
Posted: Mar 15, 2023
A Massachusetts man described by authorities as the ringleader of a group that used stolen identities to buy multiple vehicles worth a total of more than $1.5 million has pleaded guilty to fraud and identity theft charges, federal prosecutors said. &...
Posted: Mar 15, 2023
Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value, reported a 17.6% drop in its 2022 annual net profit on Wednesday due to a slump in investment gains. Its profit of 83.8 billion yuan ($12.14 …
Posted: Mar 15, 2023
A coalition representing the Maine lobster industry is suing an aquarium on the other side of the country for recommending that seafood customers avoid buying a variety of lobster mostly harvested in their state. Industry groups including Maine Lobst...
Posted: Mar 15, 2023
Howden, the London-based insurance broker, announced the acquisition of BWV Versicherungsbroker AG (BWV) in Liechtenstein. BWV is a market-leading independent broker with a portfolio of corporate and private clients, and the transaction reflects Howd...
Posted: Mar 15, 2023
Signature Bank was hit with its first investor suit since the bank went into receivership Sunday, accused of making misleading statements about its financial health and risks. Matthew Schaeffer said he bought call options and was “economically...
Posted: Mar 15, 2023
US prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter. Justice Department investigators in Washington and Manhatt...
Posted: Mar 15, 2023
Eleven property developers could be barred from the industry unless they sign a UK government contract to repair unsafe cladding on apartment blocks, according to Michael Gove, the secretary of state for housing. While 39 firms signed the commitment...
Posted: Mar 15, 2023
Britain’s National Cyber Security Centre is reviewing whether Chinese-owned video app TikTok should be banned from government phones, security minister Tom Tugendhat said on Tuesday. TikTok has come under increasing focus over fears that user d...
Posted: Mar 15, 2023
Space tourism, or human space travel for recreational purposes, is in its early days. For insurers, this means it’s an emerging business that most aren’t ready to tackle yet. Neil Stevens, senior vice president of aviation and space at Ma...
Posted: Mar 15, 2023
First Cap Property Insurance Solutions is a San Diego, CA based MGU with a focus on niche property products. Our management and underwriting team have a long history of developing niche property programs for CA as far back as the …
Posted: Mar 15, 2023
The Philippines is grappling with the fallout of an oil spill south of Manila, with a contractor describing the cleanup as a “logistical nightmare” amid questions on why the ship carrying industrial fuel was able to sail without a permit....
Posted: Mar 15, 2023
Twelve years after the triple reactor meltdowns at the Fukushima Daiichi nuclear power plant, Japan is preparing to release a massive amount of treated radioactive wastewater into the sea. Japanese officials say the release is unavoidable and should...
Posted: Mar 15, 2023
Eleven property owners whose homes were flooded after a city of Brownsville official closed a flood gate may proceed with their claims against the city because of a statute that waives governmental immunity for damages caused by motor-driven equipmen...
Posted: Mar 15, 2023
MCPHERSON, Kan. (AP) – Union Pacific officials believe that a broken wheel likely caused this weekend’s derailment that spilled denatured alcohol inside a Kansas refinery. Railroad spokeswoman Kristen South said crews continued to clean u...
Posted: Mar 15, 2023
NEW ORLEANS (AP) – A jury’s decision that a Louisiana State University fraternity pledge’s family is entitled to $6.1 million for his hazing-related alcohol death in 2017 sends a powerful message, the family’s attorney said Mo...
Posted: Mar 15, 2023
The state of Ohio sued Norfolk Southern NSC.N Tuesday over the Feb. 3 derailment of a freight train that released over a million gallons of hazardous materials and pollutants into the environment around the town of East Palestine. “This derailm...
Posted: Mar 15, 2023
This post is part of a series sponsored by AgentSync. Advancements in technology have given new life to the slow, inefficient processes common in the insurance industry. While the influx in AI-operated systems has some employees worried about job sec...
Posted: Mar 15, 2023
U.S. Transportation Secretary Pete Buttigieg said on Tuesday that a series of aviation close calls was “deeply troubling and deserve our immediate attention.” The Federal Aviation Administration (FAA) is holding a safety summit on Wednesd...
Posted: Mar 15, 2023
Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in …
Posted: Mar 15, 2023
Less than eight months after two of Alabama’s oldest insurance agencies merged to create the Where Relationships Matter Group, the group has taken on another agency with offices in the southeast part of the state. WRM Group announced that it &#...
Posted: Mar 15, 2023