Insurance
Rescue Plan for Bankrupt New Jersey Hospitals Under Threat
A plan to rescue three troubled New Jersey hospitals from bankruptcy is being challenged by their former owners, who claim mismanagement and an unfair land deal have tainted the reorganization. The bankruptcy-exit plan for CarePoint Health Systems pays too much …
Read More State Farm, Consumer Group Battle Ahead of Calif. Insurance Commissioner Decision
Ahead of a decision from California’s insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their opposing cases in letters to Commissioner Ricardo Lara. News outlets in California …
Read More CannGen Launches Workers’ Comp Program Through Crum & Forester
CannGen Insurance Services LLC is now offering workers’ compensation coverage for the legal cannabis industry through specialty insurance provider Crum & Forster. The program is available in all 50 states. CannGen policyholders can access C&F Connect, an online portal designed …
Read More Canadian Man Sentenced for Shootings That Damaged Pipeline and Power Station in Dakotas
A Canadian man has been sentenced to 25 years in federal prison for shootings at an oil pipeline in South Dakota and an electrical substation in North Dakota that caused $1.7 million in damages after a judge found that his …
Read More Four Charged in Death of 5-Year-Old Michigan Boy in Oxygen Chamber Explosion
Four people have been charged in the death of a 5-year-old boy who was “incinerated” inside a pressurized oxygen chamber that exploded at a suburban Detroit medical facility, Michigan’s attorney general said Tuesday. Thomas Cooper from Royal Oak, Michigan, was …
Read More Texas Stock Exchange Hires Nasdaq, Cboe Executives for ETP Push
An upstart stock exchange based in Texas has poached top talent from its big-name rivals as it prepares its push into the $11 trillion exchange-traded fund world. Cboe Global Market’s former head of exchange-traded products listings Robert Marrocco will join …
Read More AM Best Places Michigan’s Wolverine Mutual Under Review With Positive Implications
AM Best has placed under review with positive implications the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “b” (Marginal) of Wolverine Mutual Insurance Company (Wolverine) based in Dowagiac, Michigan. The Credit Ratings …
Read More Explosion in Manhole at Texas Tech University Prompts Campus Evacuations
Several buildings at Texas Tech University in Lubbock were evacuated Wednesday night after officials said an explosion in a manhole near a substation caused multiple fires that could be seen emerging from underground across parts of the campus and widespread …
Read More ACORD Solutions Group Launches ADEPT Bermuda Regional Hub for Digital Messaging
ACORD Solutions Group, a provider of digital solutions for the global insurance industry, announced the launch of the ADEPT Bermuda Regional Hub. As part of the data exchange hub’s launch, ACORD Solutions Group will give away one million free digital …
Read More North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits
The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …
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