More Than 60 Containers Fall Off Ship in Long Beach Port
More than 60 containers toppled off a cargo ship in the Port of Long Beach, tumbling overboard and floating in the water. The shipping containers fell off a vessel named the Mississippi shortly before 9 a.m. on Tuesday, and no …
California Plans to Boost Utility Wildfire Fund by $18 Billion
California lawmakers have reached an initial agreement to shore up the state’s wildfire utility fund. The agreement is expected be filed into legislative text on Wednesday after lawmakers suspended a Tuesday deadline, according to people familiar with the negotiations who …
Michigan Manufacturer to Pay $460K to Settle Sexual Harassment Lawsuit
East Jordan Plastics, Inc., a manufacturer of plastic horticultural containers, will pay $460,000 and provide other relief to settle a sexual harassment lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced today. According to the …
Texas to Ban Minors From THC Products
THC products will remain largely legal in Texas, but will be banned for minors and further regulated under a new executive order by Gov. Greg Abbott on Wednesday. Abbott directs the Texas Department of State Health Services and the Alcoholic …
SageSure and Affiliate to Acquire Olympus MGA and Olympus Insurance in Florida
In a three-way deal involving carriers, underwriters, holding companies and more, catastrophe-focused managing general underwriter SageSure announced it will acquire the managing general agent for Florida-based Olympus Insurance Co. At the same time, the parent company for SageSure’s carrier partners …
North Carolina Firefighters Shot, Burned in Separate Fire Calls
A North Carolina firefighter who was shot while answering a fire alarm call is recovering, while a suspect is in jail. The Associated Press and local media reported that the fireman was shot last week in Ellerbe. One fire truck …
Renaissance Introduces the First in a Suite of AI Solutions for Independent Agents
Agency network Renaissance said it has become the first of its kind to deliver an exclusive suite of artificial intelligence solutions built specifically for independent insurance agents. “Independent insurance agents face unique challenges that demand tailored solutions. Harnessing artificial intelligence …
Texas Hemp Industry Breathes Sigh of Relief as Legislators Avoid Ban
When news broke last Wednesday afternoon of a last-minute push to pass new, stricter regulations for consumable hemp products, the employees at Austin Vape & Smoke sprung into action. Zaquiri Hensen, a manager at the South Austin store, said he …
Philips Faces Deepened French Probe Over Sleep Apnea Device Safety
French prosecutors stepped up an investigation into Royal Philips NV for potentially causing danger to human health with breathing devices, tasking a magistrate with deeper probing powers to lead the case. Paris prosecutors said on Monday that the decision to …
Buffett’s Oregon Utility Says Fire Lawsuits Pose Shutdown Risk
Berkshire Hathaway Inc.’s PacifiCorp says ongoing litigation from massive wildfires in 2020 that exposed the company to billions of dollars in damages is jeopardizing its ability to continue providing power to hundreds of thousands of customers in Oregon. In an …
People Moves: Lockton Promotes Rapciewicz and Cullen to Lead US Casualty
Brokerage Lockton announced new leadership appointments within its U.S. casualty business. Peter Rapciewicz has been named U.S. casualty leader, and Jessica Cullen appointed head of excess casualty and operations. Rapciewicz will oversee the strategic direction and growth of Lockton’s casualty …
NCCI Calls for 6.9% Average Decrease in Florida Workers’ Comp Rates
Starting in January, workers’ compensation insurance rates for Florida businesses could drop by an average of 7%. The National Council on Compensation Insurance last week recommended an average rate decrease of 6.9% for the voluntary market, effective Jan. 1. If …
Florida Official Dismisses Need to Study Vaccine Mandate
Florida Surgeon General Joseph Ladapo said there’s no need to do projections of the potential effects of ending vaccine mandates for children, as Governor Ron DeSantis pushes to make his state the first one to scrap immunization requirements. “We don’t …
US Plant Raid Jolts South Korea and Stirs Investor Anxiety
The immigration raid on a Georgia EV battery plant run by two South Korean firms has rattled Seoul, coming less than two weeks after President Lee Jae Myung’s White House meeting with Donald Trump where Korean companies pledged to invest …
Older Homes for Sale in California Now Come With Wildfire Warnings
Most California homes were built long before the state required that they be constructed to withstand wildfires. Now, sellers of older homes in high-risk areas must disclose to potential buyers not only a dwelling’s susceptibility to fire but what they’ve …
Suit That Claimed Fox Sports Ex-Host Harassed Stylist Has Been Mostly Resolved
A woman who worked as a hairstylist for Fox Sports has resolved most of a lawsuit that alleged former host Skip Bayless made repeated, unwanted advances toward her — including an offer of $1.5 million to have sex with him. …
Direct Home Insurer Kin Raises $50M in Series E Financing
Direct-to-consumer homeowners insurer Kin said it has raised an oversubscribed $50 million Series E financing, at a pre-money valuation of $2 billion. The digital insurer also closed on a $200 million debt facility, $145 million of which was used to …
Markets/Coverages: Everest Introduces EverBuild for Evolving Construction Risks
Everest Insurance, the insurance division of Everest Group, recently announced the launch of EverBuild, an enhanced Builder’s Risk coverage form. EverBuild underscores the company’s long-standing commitment to supporting the construction industry with tailored, innovative solutions. The updated form was developed …
Judge Approves Chapter 11 Plan for Rochester Diocese With $246M Claims Fund
A federal bankruptcy judge on Friday signed off on a $246 million fund to pay abuse claims as part of the Catholic Diocese of Rochester’s Chapter 11 reorganization plan to emerge from bankruptcy. Having witnessed six years of bankruptcy proceedings, …
People Moves: Ames & Gough Promotes Four Executives
Ames & Gough, headquartered in McLean, Virginia, appointed Lauren Martin and Jessie Witherow as vice presidents and of Nicole Gonzalez and Katie O’Brien as assistant vice presidents. All four executives are based in the firm’s Washington, D.C., office. Martin joined …