Insurance
U.S. Employers Must Be Careful in Drafting Severance Agreements, Labor Board Warns
A recent U.S. labor board ruling limiting what employers can include in severance agreements is a reminder that companies must be careful not to ask workers to sign away their rights, the agency’s top prosecutor said on Wednesday. National Labor …
Read More TikTok, Transit Authority Face Wrongful Death Suit Over New York Teenager’s Death
Chinese company ByteDance and its popular social media platform TikTok are facing a wrongful death suit in New York over the 2022 death of a teenager. The suit alleges that TikTok sent thousands of unsolicited suicidal videos to 16 year-old …
Read More U.S. P/C Industry Records $26.5 Billion Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, down $21.5 billion from the prior year’s underwriting loss of $5 billion, according to a report published by AM Best. The underwriting loss came despite an …
Read More Florida Insurance Agent Who Used $5M in Premiums for Safari, Condos Gets 14 Years
More than 18 months after he pleaded guilty to absconding with almost $5 million in premiums, a Florida insurance agent has been sentenced to 14 years in prison. John M. Thomas, 52, the former owner of Thomas Insurance agency in …
Read More These Southwestern Counties Were Ranked Safest from Natural Disasters
A city in New Mexico and five counties in Colorado ranked in the top 10 for lowest-risk areas for natural catastrophes. A study by global property information provider CoreLogic detailed the least risky places to live in the U.S. from …
Read More Long-Term Drought in Spain Expected to Bring More Heatwaves, Wildfires
MADRID (AP) – Spain has officially entered a period of long-term drought, owing to high temperatures and low rainfall over the past three years, and likely faces another year of heatwaves and forest fires. The country’s Aemet weather agency said …
Read More Lloyd’s of London Swings to 2022 Pre-Tax Loss on Investments but U/W Profits Up
Lloyd’s of London swung to a pre-tax loss in 2022 and took writedowns on its fixed-income investments, it said on Thursday. The pre-tax loss was 800 million pounds ($982.56 million), compared with a profit of 2.3 billion pounds a year …
Read More Japanese Shipping Firm Seeks Government Support for Russia Insurance Risk
Major Japanese shipping company Nippon Yusen KK is seeking a government guarantee to insure vessels at risk from Russia’s war in Ukraine. Conditions for getting war insurance for ships entering Russian territorial water have gotten stricter, said Takaya Soga, the …
Read More Oil Spills and Near Misses: Growing Numbers of Ghost Tankers Ship Sanctioned Fuel
An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control. These vessels were part of a “shadow” fleet …
Read More GM Must Face Class Actions Over Defective Transmissions
A federal judge in Detroit certified class actions for drivers in 26 U.S. states who accused General Motors Corp. of producing faulty transmissions for about 800,000 vehicles from the 2015 to 2019 model years. Monday’s decision by U.S. District Judge …
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