Insurance
Lawsuit Claims Victims of Sexual Abuse and Rape at Shuttered Arkansas Facility
LITTLE ROCK, Ark. (AP) – Eight former residents of a youth treatment center that was run by an Arkansas man whose bribery conviction was commuted by former President Donald Trump have filed a lawsuit claiming they were victims of “systematic …
Read More Insurers Are Still Backing Oil and Gas Industry Despite Rising Climate Threat: Report
Insurers are continuing to provide cover for increased oil and gas production even as they face large losses fueled by climate change, according to a new report. About 80% of the insurance market and 53% of the reinsurance market don’t …
Read More Ping An Loses $3.1 Billion in Value on Country Garden Buy Report
A report that Chinese authorities asked Ping An Insurance Group Co. to rescue Country Garden Holdings Co. sent the insurer’s stock sliding, wiping out $3.1 billion from its valuation. Distressed developer Country Garden, on the other hand, jumped 12% to …
Read More Two-Thirds of North America Could Face Power Shortages This Winter
More than half of the U.S. and parts of Canada, home to around 180 million people, could fall short of electricity during extreme cold again this winter due to lacking natural gas infrastructure, the North American Electric Reliability Corp (NERC) …
Read More NTSB Chair: Near-Miss Aviation Incidents ‘Clear Warning Sign’
An increase in serious near-miss aviation incidents is a “clear warning sign that the U.S. aviation system is sharply strained,” National Transportation Safety Board (NTSB) chair Jennifer Homendy will tell a U.S. Senate panel on Thursday. Homendy, who will testify …
Read More AM Best Outlook of US E&S Market Revised to ‘Positive’
Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market. AM Best on Monday changed its U.S. E&S outlook from “stable” to “positive,” considering …
Read More Fed Judges Ask Florida Supreme Court to Decide if Insurers Can Sue Auto-Glass Shops
The Florida Legislature earlier this year struck a mighty blow for auto insurers in their years-long fight against windshield repair shops, ending assignment-of-benefits and the practice of offering gifts to insureds. Now, the Florida Supreme Court could soon decide another …
Read More Judge Trims U.S. Lawsuit Accusing Drug Distributor of Fueling Opioid Epidemic
A federal judge on Monday pared back a U.S. government lawsuit accusing drug distributor Cencora, formerly called AmerisourceBergen, of fueling the nation’s deadly opioid epidemic by failing to report hundreds of thousands of suspicious orders of prescription painkillers. U.S. District …
Read More Higginbotham Expands Collegiate Athletics Investment With LEARFIELD, Adds 10 Southern Universities to Portfolio
Higginbotham announced the expansion of its multi-year investment in collegiate athletics to include ten universities in the southern region of the United States through its continued sponsorship agreement with LEARFIELD, a media and technology company that partners with college athletic …
Read More Ohio Votes to Legalize Marijuana For Adult Recreational Use
COLUMBUS, Ohio (AP) – Ohio voters approved a measure legalizing recreational marijuana on Tuesday, defying Republican legislative leaders who had failed to pass the proposed law. Passage of Issue 2 makes Ohio the 24th state to allow adult cannabis use …
Read More