Georgia Senate Gives Final Approval to School Safety Bill
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 …
Ringleader Pleads Guilty to Scheme Using Stolen IDs to Buy Vehicles
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. …
China’s Ping An Insurance Reports 17.6% Drop in 2022 Profit
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 …
Maine Lobster Industry Files Defamation Suit Over California Aquarium’s Whale Warning
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 Lobstermen’s Association …
Howden Acquires Liechtenstein-Based Broker
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 Howden’s continued investment in local specialist expertise …
Signature Bank Hit With Investor Suit Over Failure
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 damaged” by the …
Signature Bank Faced Criminal Probe Ahead of Firm’s Collapse
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 Manhattan were examining whether the New York bank …
UK Builders Face Ban Unless They Commit to Repairing Unsafe Cladding
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 by …
UK’s National Cyber Security Centre Reviewing TikTok Risks: Minister
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 data could end up in …
Zuckerberg Was Warned on Social Media Addiction, Filing Says
Employees at Meta Platforms Inc. and ByteDance Inc. were aware of the harmful effects of their platforms on young children and teenagers but disregarded the information or in some cases sought to undermine it, according to claims in a court …
Viewpoint: Silicon Valley Bank’s Failure in Risk Management
As someone who had a front row seat at the largest bank failure in U.S. history, Washington Mutual, the demise of Silicon Valley Bank (SVB) brings back memories of how seemingly well-run banks can in an instant run into trouble …
U.S. Sues Rite Aid for Missing Opioid Red Flags
The U.S. government on Monday sued Rite Aid Corp., accusing the pharmacy chain of missing “red flags” as it illegally filled hundreds of thousands of prescriptions for controlled substances, including opioids. In a complaint filed in Cleveland federal court, the …
Silicon Valley Bank Parent SVB Financial Group Faces First Securities Class Action
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank make false or misleading statements pertaining to the potential impact rising interest rates could …
Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their parent company’s financial picture. AM Best last week posted a …
Former Maryland Police Chief Convicted of Multiple Arsons Targeting His ‘Enemies’
A former Maryland police chief was convicted Thursday of intentionally setting fire to buildings belonging to his adversaries, leading various law enforcement agencies on a sprawling investigation that linked a dozen arsons spanning nearly a decade and crisscrossing several counties. …
Connecticut Regulator Opposes Letting Self-Storage Businesses Sell Insurance to Tenants
Owners of self-storage businesses in Connecticut want to be able to sell property insurance to their tenants but the state insurance regulator thinks that is a bad idea. According to Joe Doherty, lobbyist for the national Self Storage Association, 42 …
Massachusetts Man Sentenced in Business Email Compromise Scheme
A Framingham, Massachusetts man was sentenced this week for his role in a business email compromise (BEC) scheme. Gustaf Njei was sentenced by U.S. District Court Chief Judge F. Dennis Saylor IV to 27 months in prison and two years …
FEMA Urges California and Nevada Residents to Heed Flood Warnings
The Federal Emergency Management Agency is cautioning residents in parts of central California and western Nevada to pay attention to local officials as additional heavy rains and flooding are predicted. The National Weather Service predicts widespread rain, snow and strong …
Louisiana UPC Policyholders Have 30 Additional Days to Secure Citizens Policy
Louisiana Insurance Commissioner Jim Donelon announced on March 13 that Louisiana Citizens will provide an additional 30 days after United Property & Casualty Insurance Company (UPC) policies cancel on March 29 for policyholders and their insurance agents to secure coverage …
Texas Women Sued for Wrongful Death After Aiding in Abortion
AUSTIN, Texas (AP) – Three women in Texas are being sued for wrongful death by a man who claims they helped his now-ex-wife obtain medication for an abortion. It’s another test of state-enforced bans since the U.S. Supreme court overturned …