Insurance
Viewpoint: Silicon Valley Bank’s Failure in Risk Management
As someone who had a front row seat at the largest bank failure in U.S. history, Washington Mutual, the demise of Silicon Valley Bank (SVB) brings back memories of how seemingly well-run banks can in an instant run into trouble …
Read More U.S. Sues Rite Aid for Missing Opioid Red Flags
The U.S. government on Monday sued Rite Aid Corp., accusing the pharmacy chain of missing “red flags” as it illegally filled hundreds of thousands of prescriptions for controlled substances, including opioids. In a complaint filed in Cleveland federal court, the …
Read More Silicon Valley Bank Parent SVB Financial Group Faces First Securities Class Action
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank make false or misleading statements pertaining to the potential impact rising interest rates could …
Read More Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their parent company’s financial picture. AM Best last week posted a …
Read More Former Maryland Police Chief Convicted of Multiple Arsons Targeting His ‘Enemies’
A former Maryland police chief was convicted Thursday of intentionally setting fire to buildings belonging to his adversaries, leading various law enforcement agencies on a sprawling investigation that linked a dozen arsons spanning nearly a decade and crisscrossing several counties. …
Read More FEMA Urges California and Nevada Residents to Heed Flood Warnings
The Federal Emergency Management Agency is cautioning residents in parts of central California and western Nevada to pay attention to local officials as additional heavy rains and flooding are predicted. The National Weather Service predicts widespread rain, snow and strong …
Read More Louisiana UPC Policyholders Have 30 Additional Days to Secure Citizens Policy
Louisiana Insurance Commissioner Jim Donelon announced on March 13 that Louisiana Citizens will provide an additional 30 days after United Property & Casualty Insurance Company (UPC) policies cancel on March 29 for policyholders and their insurance agents to secure coverage …
Read More Texas Women Sued for Wrongful Death After Aiding in Abortion
AUSTIN, Texas (AP) – Three women in Texas are being sued for wrongful death by a man who claims they helped his now-ex-wife obtain medication for an abortion. It’s another test of state-enforced bans since the U.S. Supreme court overturned …
Read More Costs Prompt Iowa Town to Assess Flood Control Efforts
CEDAR RAPIDS, Iowa (AP) – High inflation and construction cost spikes are prompting city officials to study the impact of growing expenses on its permanent flood control system. But City Manager Jeff Pomeranz recently said during a City Council session …
Read More Nebraska Company Fined $531K After Worker Engulfed in Corn Silo
A 34-year-old worker’s attempt to clean out a Roseland grain silo, in preparation for fall harvest, turned tragic on Sept. 12, 2022, when corn engulfed and asphyxiated him. An investigation by the U.S. Department of Labor’s Occupational Safety and Health …
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