St. Pete Looking at Downtown Transformation with Housing and New Rays Stadium
ST. PETERSBURG, Fla. (AP) — The future of the Tampa Bay Rays is about to come into clearer focus as local officials begin public discussions over a planned $1.3 billion ballpark that would be the anchor of a much larger …
Tornadoes in Tennessee, North Carolina Kill Three, Damage Properties
High winds, hail, heavy rain and tornadoes battered Southern states from Alabama to North Carolina Wednesday and Thursday morning, leaving three people dead and hundreds of properties with heavy damage. USA Today, CNN and other news outlets reported that the …
Hospital Operator Ascension Warns of Suspected Cyberattack; Operations Disrupted
Hospital operator Ascension reported disruptions to its clinical operations on Wednesday due to a suspected cybersecurity incident and advised business partners to temporarily disconnect from its systems. Earlier this year, UnitedHealth, the largest U.S. health insurer, had reported a cyberattack …
Progressive Set to ‘Maximize’ Growth, Building on Q1
When Progressive’s chief executive officer weighed the words that should go into the management discussion section of the company’s first-quarter 10-Q report, she considered two possibilities to describe anticipated growth for the balance of 2024. “Was ‘maximize’ growth the right …
Three Insurers Reject Chevron’s $57 Million Claim for Iran Oil Seizure
Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Iranian …
Hub International Acquires Certain Assets of Canada’s 2197747 Alberta Ltd.
Hub International Ltd., the Chicago-based insurance brokerage and financial services firm, announced the acquisition of certain assets from 2197747 Alberta Ltd., which is in turn partially owned by Carianne O’Connor. Terms of the transaction were not disclosed. Located in Edmonton, …
Texas Energy Company to Pay $260K to Settle Racial Harassment Lawsuit
A Texas energy company will pay a $265,000 fine to settle charges that it subjected Black and Hispanic field mechanics to harassment. The U.S. Equal Employment Opportunity Commission (EEOC) announced last week that Liberty Energy, Inc. doing business as Liberty …
Oklahoma Judge Blocks State’s Anti-ESG Law
A judge in Oklahoma blocked a state law that prohibits state pension systems from investing with companies that limit investment in the oil and gas industry. Oklahoma County District Court Judge Sheila Stinson on Tuesday issued a temporary injunction blocking …
Markets/Coverages: FM Global Names Leadership for New Renewable Energy Unit
Commercial property insurer FM Global announced the launch of a renewable energy unit to help clients in the transition to alternative energy through research and innovation, and to support the overall advancement of the renewable energy industry. FM Global’s Renewable …
Reserve Strengthening for Casualty Lines Not Over: Moody’s
If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That’s the gist of one of the questions that analysts from Moody’s Investors Service asked—and answered—in a new report on the U.S. property/casualty insurance …
US Financial Regulators Restart Work on Long-Delayed Dodd-Frank Compensation Rules
A trio of U.S. financial regulators have resumed work on a long-delayed rule-writing project to make executive compensation plans at financial firms more sensitive to risk. The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and Federal …
EU Commission Eyeing Exemptions for ‘Forever Chemicals’ Ban, Letter Shows
The European Commission is planning to allow exemptions from a proposed ban on substances known as PFAS, or “forever chemicals,” to protect key industries, a letter seen by Reuters on Wednesday showed. In the letter to some EU lawmakers in …
Jury Awards $9M to Player Who Sued US Tennis Association Over Coach’s Sexual Abuse
A tennis player was awarded $9 million in damages by a jury in federal court in Florida after accusing the U.S. Tennis Association of failing to protect her from a coach she said sexually abused her at one of its …
Range Rover Buyers Offered Insurance Cash After String of Thefts
Jaguar Land Rover Automotive Plc is offering to pay part of customers’ insurance costs for new Range Rovers after a string of thefts caused premiums to soar and left some unable to get cover. The British carmaker will provide £150 …
Brazilian Floods Are Inflicting Billions in Economic Devastation
The floods and severe rainfall that ravaged Southern Brazil are hurting the nation’s powerhouse agricultural sector, with industries from auto manufacturing to banking and insurance also bracing for disruption. Heavy rains in Rio Grande do Sul, Brazil’s southernmost state, left …
The World’s Biggest Carbon Removal Plant Comes Online in Iceland
Amid the steam rising around Iceland’s Hellisheioi station sits a newly built warehouse surrounded by giant fans run by carbon removal startup Climeworks. Dubbed Mammoth, the project is now the world’s biggest plant to suck carbon dioxide from the air. …
Fannie and Freddie Hit Pause on Replacement-Value Requirements for Home Insurance
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don’t carry full replacement-value insurance coverage. The decision by Fannie and Freddie to …
Safety Lapses Contributed to Patient Assaults at Oregon State Hospital: Federal Report
Safety lapses at the Oregon State Hospital contributed to recent patient-on-patient assaults, a federal report on the state’s most secure inpatient psychiatric facility has found. The investigation by the Centers for Medicare and Medicaid Services found that staff didn’t always …
Judge Dismisses Suit by Mother Who Claimed School Hid Teen’s Gender Expression
A federal judge dismissed a lawsuit brought by a Maine woman who accused school officials of encouraging her teen’s gender expression by providing a chest binder and using a new name and pronouns, without consulting parents. U.S. District Judge Jon …
Report: California Workers’ Comp Written Premium Increased 2% in 2023
Written premium in calendar year 2023 was 2% higher than the prior year, driven by continued economic expansion, but partially offset by continued rate decreases, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California on Wednesday released …