Insurance

A federal judge has dismissed 32 lawsuits over COVID-19 business interruption insurance claims against Erie Insurance, concluding the claimants failed to “plausibly plead” that they are entitled to coverage under their Erie policies. The ruling by U.S. District Judge Mark …

Third quarter net income at Travelers Companies dropped 31%, compared with the same period a year ago, to $454 million. The P/C insurer said net income fell due to lower core income – $526 million compared with $655 million last …

A jury in King County, Washington, awarded $275 million to ten students and parents who say they suffered serious neurological injuries from chemical exposure at a school northeast of Seattle. The lawsuit against Bayer Pharmaceuticals is the fourth to result …

Federal authorities are investigating what may have caused a small plane to crash into a house in a south Florida neighborhood, killing the pilot and a passenger early this week. The single-engine Aventura II went down just before noon on …

A group that works with union pension funds is pressing Hyundai Motor Co to respond to reports of child labor at U.S. parts suppliers, warning of potential reputational damage to the Korean automaker. SOC Investment Group, which works with union …

Arch Capital Group Ltd., the Bermuda-based re/insurer, reports that its 2022 third quarter results will be negatively affected by claims from global catastrophe events such as Hurricane Ian, U.S. convective storms, Typhoon Nanmadol (which hit Japan in September), and French …

Health insurance company EyeMed Vision Care LLC will pay a $4.5 million penalty to New York State for violations of the state’s cybersecurity regulation that officials said exposed hundreds of thousands of consumers’ personal health data, including data concerning minors. …

Hurricane Fiona is estimated to have caused C$660 million (US$436.8 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Hurricane Fiona is the most costly extreme …

A commuter train hit a tractor-trailer Monday whose operator had driven to a rail crossing after leaving the scene of an earlier crash, transit authorities said. Nine train passengers suffered minor injuries. The tractor-trailer was involved in a crash with …

Government powers to force UK regulators to scrap financial rules could harm the City’s global clout, a senior Bank of England official said on Wednesday as the sector called for watchdogs to develop a more “commercial mindset.” While Britain remains …