Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk too high. It’s a problem that has …
J&J Advances $6.48 Billion Settlement of Talc Cancer Lawsuits
Johnson & Johnson said Wednesday it is moving forward with a $6.48 billion proposed settlement of tens of thousands of lawsuits alleging that its baby powder and other talc products contain asbestos and cause ovarian cancer. The deal would allow …
BNSF Becomes 2nd RR to Sign on to Anonymous Federal Safety Hotline for Workers
OMAHA, Neb. (AP) — BNSF will become the second major freight railroad to allow some of its employees to report safety concerns anonymously through a federal system without fear of discipline. The Federal Railroad Administration announced Thursday that the railroad …
State AG, Atlantic City Casino Union Ask Judge to Dismiss Anti-Smoking Lawsuit
Atlantic City’s main casino workers union and the New Jersey attorney general this week asked a judge to dismiss a lawsuit brought by a different union that seeks to ban smoking at the city’s nine casinos. Local 54 of the …
Louisiana Lawmakers Repeal ‘Three-Year Rule’ that Barred Policy Cancellations
Property insurers in storm-swept Louisiana could soon gain much more flexibility over policy cancellations if the governor signs House Bill 611 into law, as expected. The state House of Representatives this week approved the bill by a vote of 82 …
Ryan Specialty Completes Acquisition of Castel Underwriting Agencies From Arch
Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has completed the acquisition of Castel Underwriting Agencies from Arch Financial Holdings (UK) Ltd. and minority shareholders. Headquartered in London, Castel is a managing general underwriting (MGU) platform with additional …
Tornadoes Damaged 7,200 Residential Properties, Left $2B in Reconstruction Costs
The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127 tornadoes spun out of a severe …
Markets/Coverages: Relm Launches Employment Practices Cover to Fill Capacity Needs
Relm Insurance, a Bermuda-based specialty insurance carrier, unveiled its Comprehensive Employment Practices offering, responding to industry demand to address capacity scarcity. The enhancements of the new policy, payable in fiat or cryptocurrency, include: An expansion of third-party liability coverage to …
People Moves: BMS Launches Global Healthcare Liability Unit, Led by Wendin From Carpenter; Gallagher Re Taps Hiscox’s Marling as UK COO
This edition of International People Moves details appointments at re/insurance brokers BMS and Gallagher. A summary of these new hires follows here. BMS Launches Global Healthcare Liability Unit, Led by Wendin From Carpenter BMS, the London-based independent specialist insurance and …
Agile Syndicate 2427 Gets Lloyd’s Approval to Begin Underwriting
Agile Underwriting Services has received approval from Lloyd’s to commence underwriting in May. Agile Underwriting Services Syndicate 2427 (AUS 2427) will be focused primarily on Australia and New Zealand and writing accident and health, aviation, casualty, construction, financial lines, and …
AM Best Upgrades Rating of Hamilton Re, Hamilton Insurance DAC to “A” (Excellent)
AM Besthas upgraded the Financial Strength Rating to “A” (Excellent) from “A-” (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Hamilton Re Ltd., in Bermuda, and Hamilton Insurance Designated Activity Co., in Dublin, Ireland. …
What Is GPS Jamming and Why Is It an Aviation Problem?
Estonia has accused neighboring Russia of jamming GPS navigation devices in airspace above the Baltic states, echoing concerns from airlines that say they have been contending with such interference for months. Estonian Foreign Minister Margus Tsahkna’s accusation, for which he …
Hungary’s Orban Comes Under Fire From German Investors Decrying Cronyism
German companies have long treated Hungary like their backyard. Carmakers Mercedes Benz AG and BMW AG and Volkswagen AG’s Audi continue to expand their footprint, driving the country’s exports, while weapons producer Rheinmetall AG is building a handful of new …
The Future Is Near for Self-Driving Trucks on US Roads
On a three-lane test track along the Monongahela River, an 18-wheel tractor-trailer rounded a curve. No one was on board. A quarter-mile ahead, the truck’s sensors spotted a trash can blocking one lane and a tire in another. In less …
Newspapers Sue OpenAI for Copyright Infringement Over AI Training
A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters’ work to train their generative artificial-intelligence systems. The eight newspapers, owned …
‘Dirty Dozen’ Unsafe Employers Putting Workers at Risk
A retail giant, a space launch operation, a major food processor, the nation’s two biggest rideshare providers and a large healthcare system are among those entities marked as being among the most unsafe employers. The National Council for Occupational Safety …
South Florida ‘Butt Lift’ Surgery Clinic Linked to 15 Drug-Resistant Bacteria Infections
Florida and federal health officials have determined that 15 infections from a drug-resistant bacteria have been linked to a south Florida clinic that performed Brazilian “butt lift” surgeries in 2022 and 2023. “Multiple lapses in infection control and prevention were …
Study: California’s 2023 Snowy Rescue from Megadrought a Freak Event
Last year’s snow deluge in California, which quickly erased a two decade long megadrought, was essentially a once-in-a-lifetime rescue from above, a new study found. Don’t get used to it because with climate change the 2023 California snow bonanza —a …
New York Court Officer Wins 9/11 Workers’ Compensation Benefits on Appeal
On the morning of September 11, 2001, Robert Liotta was at his job as a senior court officer at 100 Centre Street in New York City when not far away terrorists attacked the World Trade Center. Right away, he began …
OSHA Cites Hanover Foods for 70 Alleged Safety Violations
Pennsylvania-based food manufacturer Hanover Foods Corp. has been found in violation of dozens of safety and health hazards at its Centre Hall facility, according to federal officials. The federal Occupational Safety and Health Administration opened an investigation at the Centre …
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