Insurance Journal

Six Defendants to Stand Trial for Michigan Auto Insurance Fraud Scheme

Six defendants will stand trial on charges alleging the group operated an auto insurance fraud scheme targeting Michigan residents involved in automobile collisions, Michigan Attorney General Dana Nessel and Anita Fox, Director of the Michigan Depart...

Posted: Mar 18, 2024

Long Recovery Ahead for Swath of Central US Hit by Deadly Tornadoes

LAKEVIEW, Ohio (AP) — Residents in a swath of the central U.S. hit by deadly tornadoes were cleaning up, assessing damage and helping neighbors on Saturday. But it will be a long recovery from the storms that ripped through parts …

Posted: Mar 18, 2024

Texas Firefighters Completely Contain Panhandle Wildfire

LUBBOCK — Firefighters have completely contained the Smokehouse Creek fire in Hutchinson County after a nearly three-week battle with what quickly became the largest wildfire in Texas history. That inferno and a series of other wildfires killed at le...

Posted: Mar 18, 2024

Walgreens to Pay $205K Over Pregnancy Discrimination at Louisiana Store

Pharmacy and retailer Walgreens Co. has agreed to pay $205,000 and provide other relief to settle a pregnancy discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC...

Posted: Mar 18, 2024

Scranton School District Reports Ransomware Attack

The Scranton, Pennsylvania school district has been experiencing computer outages due to a ransomware attack last week. “The attack is causing a temporary disruption to some of our computer systems and services,” the school reported on Fa...

Posted: Mar 18, 2024

Trump Has Failed to Get Appeal Bond for $454M Civil Fraud Judgment, Lawyers Say

Donald Trump has so far been unable to obtain a bond that would allow him to appeal a $454 million judgment against the former U.S. president in a New York civil fraud case without posting the full amount himself, his …

Posted: Mar 18, 2024

Florida Jury: NICO Did Not Act in Bad Faith in Keys Crash that Killed 4 Women from Spain

Six months after a federal appeals court upheld a $12 million verdict against a waste-hauling company in a crash that killed four Spanish women in the Florida keys, a jury has found that the firm’s insurer did not act in …

Posted: Mar 18, 2024

Bankruptcy Court Approves Camden Diocese’s $87.5M Plan for Abuse Victims

Almost three-and-one-half years after the Catholic Diocese of Camden, New Jersey filed for bankruptcy citing financial effects from the pandemic and sexual abuse settlements, its Chapter 11 reorganization plan has been approved. The final plan, the n...

Posted: Mar 18, 2024

Chubb Launches Global Transactional Risk Platform to Grow International Footprint

Chubb announced the launch of a global transactional risk platform to provide transactional risk liability insurance products across international markets. Chubb has appointed Josh Cowen as senior vice president, International Transactional Risk, to...

Posted: Mar 18, 2024

Agile Underwriting Gets ‘In-Principle’ Approval to Launch Lloyd’s Syndicate

Agile Underwriting Services has received “in-principle” approval from Lloyd’s to create Agile Syndicate 2427, subject to regulatory approvals. Syndicate 2427 will be established under the “syndicate-in-a-box” (SIAB) fram...

Posted: Mar 18, 2024

People Moves: Canal Insurance Names Brocklebank Chairman of the Board

Seven years after he was named president and CEO of transportation insurer Canal Insurance, Paul Brocklebank has an additional title to his name – chairman of the board of the Greenville, South Carolina, company. The move comes after several years &#...

Posted: Mar 18, 2024

The Year in Insurance – A Look Back, A Look Ahead

2023 was an unremarkable year for insurers. And that’s a good thing. Insurers and their shareholders prefer boring predictable results over unexpected volatile shocks. Property & casualty insurance company stocks performed relatively well....

Posted: Mar 18, 2024

Apple, Investors Reach $490 Million Settlement in Fraud Case

Apple Inc. reached a $490 million settlement of a class-action lawsuit brought by a group of investors who accused Chief Executive Officer Tim Cook of misleading them in 2018 about the company’s sales prospects. Cook made false statements about...

Posted: Mar 18, 2024

Reckitt Unit Hit With $60 Million Verdict in Enfamil Baby Formula Case

An Illinois jury has ordered Reckitt Benckiser unit Mead Johnson to pay $60 million to the mother of a premature baby who died of an intestinal disease after being fed the company’s Enfamil baby formula. The jury in an Illinois …

Posted: Mar 18, 2024

Meta Loses Second Bid to Thwart FTC’s Change to Privacy Pact

Meta Platforms Inc. lost its second court ruling this week seeking to stop the Federal Trade Commission’s reopening a 2020 privacy settlement over allegations that the company breached the terms. In a ruling Thursday, US District Judge Randolph...

Posted: Mar 18, 2024

Hyundai and Kia to Recall Nearly 170,000 EVs Over Software Problem in South Korea

Hyundai Motor Co. and sister company Kia Corp. will recall about 170,000 electric vehicles (EVs) in South Korea over problems with software in the charging systems, South Korea’s transport ministry said on Thursday. Hyundai will recall 113,916...

Posted: Mar 18, 2024

India’s Navy Takes Control of Bulk Carrier Hijacked by Somali Pirates, Evacuating Crew

The Indian navy said late Saturday that it had taken control of a bulk carrier hijacked by Somali pirates and evacuated the 17 crew members on the vessel. In a statement on X, the navy said all 35 pirates on …

Posted: Mar 18, 2024

Treasury Asked Why US P&I Club Insures Ships Carrying Iran Oil

A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil. Representative Zach Nunn of Iowa, a member of the House Fin...

Posted: Mar 18, 2024

Pressure Builds for Charge on Global Shipping Sector’s CO2 Emissions

The European Union, Canada, Japan and climate-vulnerable Pacific Island states are among 47 countries rallying support for a charge on the international shipping sector’s greenhouse gas emissions, documents reviewed by Reuters showed. The docum...

Posted: Mar 18, 2024

People Moves: Farmers Alliance Names Miller IT VP

Miller Named Vice President, IT for Farmers Alliance Companies Farmers Alliance Companies, headquartered in Mcpherson, Kansas, promoted Brad Miller to vice president, information technology (IT). As vice president, and a member of the corporate leade...

Posted: Mar 18, 2024

Uber Pays Australian Taxi Drivers $178 Million in Settlement

Uber agreed to pay A$271.8 million ($178 million) to compensate thousands of taxi drivers in Australia who claimed they lost income when the ride-share company entered the local market. Uber Technologies Inc. settled the class action brought by more...

Posted: Mar 18, 2024

US Appeals Court Temporarily Pauses SEC Climate Disclosure Rules

A U.S. appeals court on Friday temporarily paused new rules issued by the Securities and Exchange Commission (SEC) requiring public companies to report climate-related risks. The New Orleans-based 5th U.S. Circuit Court of Appeals granted a request f...

Posted: Mar 18, 2024

Apple Must Face Suit Claiming AirTags Are Weapon of Stalkers

Apple Inc. lost a bid to dismiss a lawsuit alleging that its AirTag devices help stalkers track their victims. US District Judge Vince Chhabria in San Francisco ruled Friday that three plaintiffs in the class-action suit had made sufficient claims &#...

Posted: Mar 18, 2024

Adam Neumann’s Flow Plans Apartments, Offices in Downtown Miami

Adam Neumann’s real estate startup Flow is planning $300 million in Miami developments in an area that was known as tent city just a decade ago. The plans include rental apartments, retail space and small offices, all within walking distance &#...

Posted: Mar 18, 2024

Creditors Move to Force Giuliani to Insure his Florida Condo Until it’s Sold to Pay Debts

Full-time Florida residents and snowbirds aren’t the only ones having trouble obtaining insurance on their condominiums. Rudy Giuliani, the former New York Mayor and longtime attorney for Donald Trump, has told a bankruptcy judge that he can&#8...

Posted: Mar 18, 2024