Insurance
Wall Street Regulator Unveils New Hacking, Data and Market Resiliency Rules
The top U.S. markets regulator announced a package of proposed policies on Wednesday designed to harden the financial system against hacking, data theft and systems failure. At the start of a public meeting, the Securities and Exchange Commission’s (SEC) five …
Read More Insured Losses From N. Zealand Floods Estimated at US$1.02B, With Profit Hit Expected
The initial insured losses for the recent floods in the North Island of New Zealand are estimated at NZ$1.65 billion ($1.02 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Losses incurred so far in …
Read More Green Groups Sue Biden Admin Over Approval of Alaska Willow Oil Project
Six environmental groups filed a lawsuit on Tuesday over the Biden administration’s approval of ConocoPhillips’ Willow oil and gas project in Alaska, which they claimed could be a stepping stone to more development in an ecologically sensitive region. Trustees for …
Read More California Court Rules for Uber, Lyft in Ridesharing Case
App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker protections and benefits. …
Read More Federal Appeals Court Reverses, Allows $5M Bad Faith Claim vs. USAA to Proceed
The poorly executed handoff of a claims file from a retiring claims adjuster to his replacement may have made USAA liable for a $5.2 million excess judgment. A panel of the U.S. 11th Circuit Court of Appeals on Tuesday reversed …
Read More Three Killed in Georgia House Fire as Propane Tanks Explode
Three people were killed in a house fire as multiple propane tanks exploded, officials said. ”Explosions were going off inside the home” when firefighters arrived early Saturday morning, Barrow County Fire Chief Alan Shuman told news outlets. Shuman said the …
Read More Georgia Senate Gives Final Approval to School Safety Bill
The Georgia Senate gave final approval Monday to a school safety bill pushed by Gov. Brian Kemp that includes annual active shooter drills, sending it to the Republican governor’s desk for his signature. The Senate voted 52-3 for House Bill …
Read More Ringleader Pleads Guilty to Scheme Using Stolen IDs to Buy Vehicles
A Massachusetts man described by authorities as the ringleader of a group that used stolen identities to buy multiple vehicles worth a total of more than $1.5 million has pleaded guilty to fraud and identity theft charges, federal prosecutors said. …
Read More China’s Ping An Insurance Reports 17.6% Drop in 2022 Profit
Ping An Insurance Group Co. of China Ltd., China’s largest insurer by market value, reported a 17.6% drop in its 2022 annual net profit on Wednesday due to a slump in investment gains. Its profit of 83.8 billion yuan ($12.14 …
Read More Maine Lobster Industry Files Defamation Suit Over California Aquarium’s Whale Warning
A coalition representing the Maine lobster industry is suing an aquarium on the other side of the country for recommending that seafood customers avoid buying a variety of lobster mostly harvested in their state. Industry groups including Maine Lobstermen’s Association …
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