Florida House, Senate Committees Advance Slightly Different Tort-Reform Measures
A Florida bill that would clamp further limits on attorney fees and litigation passed another Senate committee Thursday, moving it closer to a Senate floor vote. Senate Bill 236, sponsored by Sen. Travis Hutson, R-Palm Coast, differs slightly from a …
Walmart Pumps $200M Into India’s PhonePe, to Build Insurance, Wealth Businesses
Indian digital payments firm PhonePe said on Friday it has raised $200 million from majority backer Walmart Inc. at a pre-money valuation of $12 billion. PhonePe, already India’s most valuable payments firm and among the country’s most highly valued startups, …
Alabama Senate Panel Wants $1B in Pandemic Relief for Infrastructure, Broadband
Alabama lawmakers on Wednesday advanced a House-passed plan to use the state’s final $1 billion in federal pandemic relief funds largely on a mix of water and sewer infrastructure, broadband expansion and health care reimbursements. The Senate Finance and Taxation …
Connecticut Gunmaker Sued by Son of Colorado Supermarket Shooting Victim
The son of one of 10 people killed at a Colorado supermarket in 2021 is suing gun-maker Sturm, Ruger & Co. over how it marketed the firearm used in the massacre – following the litigation road map set by families …
Alabama-based National Security Group Promotes Three to Top Positions
The National Security Group, the Alabama-based parent company of a number of property-casualty, life and health insurance companies, has elevated three people to C-suite positions. Kelly Jackson was named chief financial officer; Tonya Jones is the new chief operating officer; …
Judge Blocks Forced Arbitration of Diners’ Pricing Claims Against Meal Delivery Firms
A federal judge in Manhattan on Thursday said Grubhub, Uber Eats and Postmates cannot force diners who have used their platforms into binding arbitration over claims they conspired to drive up prices for restaurant meals during the COVID-19 pandemic. The …
Tool & Die Workers at Tenn. Nissan Plant Vote Down Union Effort
Tool and die workers at a Nissan plant in Smyrna, Tennessee voted overwhelmingly against unionization Thursday, another loss for organized labor in the deep South. The workers voted 62-9 against joining the machinists union, according to news reports. The union …
IGI Completes Acquisition of Norway-Based MGA Energy Insurance Oslo
International General Insurance Holdings Ltd. announced the completion of the acquisition of Norway-based managing general agency Energy Insurance Oslo AS (EIO). The transaction included the acquisition of all outstanding shares of EIO. The entity, which is expected to be renamed …
Biden’s Antitrust Push Across Agencies Is Working to Block Deals
The Biden administration’s strategy of leaning on industry regulators to block deals that might be tricky for the Justice Department to challenge in court is working. In the past month alone, telecom and airline regulators have moved to nix Standard …
Crypto Is Finally Getting Its First Supreme Court Appearance
A clash involving disgruntled Coinbase Global Inc. customers will give the US Supreme Court its first taste of the world of cryptocurrency, foreshadowing future cases that could help define the industry. The justices on Tuesday hear arguments stemming from Coinbase’s …
Specialist Insurer Hiscox Launches Underwriting Academy in UK
Specialist insurer Hiscox UK has officially launched its underwriting academy following a successful pilot in Q4 2022. The Hiscox Underwriting Academy provides hands-on technical and professional development for high performing talent. The academy is part of a wider drive to …
Microsoft Warns Russian Hackers May Plan More Attacks, Inside and Outside of Ukraine
Microsoft Corp. warned an infamous hacking group that is tied to Russia’s military intelligence agency GRU could be gearing up for more ransomware attacks both inside and outside of Ukraine. Microsoft calls the group Iridium, but it is perhaps best …
UK Bans Chinese-Owned TikTok on Government Phones on Security Concerns
Britain said on Thursday it would ban TikTok on government phones with immediate effect, a move that follows other Western countries in barring the Chinese-owned video app over security concerns. TikTok has come under increasing scrutiny due to fears that …
Heavier Vehicles, Distracted Drivers Impacting Claim Severity
US roadways are carrying heavier, more powerful vehicles operated by motorists who are older, driving faster and more often distracted, according to CCC Intelligent Solutions’ annual Crash Course report. Each of those factors has a bearing on the frequency and …
Tesla Not Entitled to More Info About Race Bias Probe
A California civil rights agency suing Tesla Inc. over alleged widespread race bias at its flagship assembly plant on Tuesday asked a judge to narrow the scope of his tentative ruling requiring the agency to provide more details about the …
FBI Returns 50 Artifacts Stolen From Museums
Federal authorities say dozens of artifacts stolen in the 1970s from museums in several states and dating back as far as the French and Indian War have been returned to the institutions. The FBI announced Monday at a ceremony at …
Physical Abuse Must Involve ‘Imbalance or Misuse of Power’ for Exclusion: Court
An act of physical abuse is not excluded by an abuse and molestation exclusion in a homeowners insurance policy unless the act involves “an imbalance or misuse of power in addition to being physically harmful,” the Massachusetts Supreme Judicial Court …
Texas Public Adjuster Indicted of Stealing $268K in Insurance Claims
A Texas public insurance adjuster accused of stealing more than $268,000 in insurance claims from multiple victims has been indicted by a grand jury in Kimble County. A Texas Department of Insurance (TDI) investigation alleges Andrew Joseph Mitchell signed the …
Albany Diocese Files for Bankruptcy Protection Amid Sex Abuse Litigation
The Roman Catholic Diocese of Albany has filed for Chapter 11 bankruptcy protection in New York as it, like other dioceses in the state, faces hundreds of lawsuits by survivors of sexual abuse by priests. Bishop Edward B. Scharfenberger of …
Survey: Insurance Often a Blind Spot for Small Businesses
Findings from a recent NEXT Insurance survey highlight a significant gap between small business owners’ biggest stressors in 2023 and what they’re prepared for when it comes to their insurance knowledge and coverage. The data’s overarching takeaway: Insurance is often …