INSURANCE NEWS
Global Accounting Rule Ends Leeway Over Operating Profit
Companies will have to publish standardized operating profit figures from 2027 under new requirements from a global accounting rulesetter to help end what international investor Warren Buffett has called “misleading” numbers. The International Accounting Standards Board (IASB) writes book-keeping rules …
US Dog-Related Injury Claims Hit $1.12 Billion in 2023: Triple-I, State Farm Report
US insurers paid out $1.12 billion in dog-related injury claims in 2023 according to the Insurance Information Institute (Triple-I) and State Farm. The number of dog bite and related injury claims was 19,062 in 2023, an increase of more than …
Suncor’s Syncrude Canada to Pay C$390,000 After Worker Fatality
Oil sands producer Syncrude Canada, majority-owned by Suncor Energy, will pay C$390,000 ($287,187.04) after pleading guilty to a health and safety charge relating to the death of a worker on one of its sites in June 2021, the Alberta government …
Tesla Settles Case Over Fatal Autopilot Crash of Apple Engineer
Tesla has settled a lawsuit over a 2018 car crash that killed an Apple engineer after his Model X, operating on Autopilot, swerved off a highway near San Francisco, court documents showed on Monday. The settlement was made on the …
European States Sign Pledge to Protect North Sea Infrastructure
Britain and other major European countries with maritime borders on the North Sea on Tuesday signed an agreement to work together to protect underwater infrastructure, including from possible Russian attacks. The six countries involved – Belgium, Britain, Denmark, Germany, Norway …
Violence Against Nurses Climbed 5% Last Year, Report Shows
Reported assaults on nurses jumped 5% across the United States in 2023, according to a new report, raising questions for workers’ compensation insurers and potentially adding to calls for legislation from Congress. Press Ganey, a company that analyzes health care …
Report: Air Ambulance Crew Administered Drug to Balloon Pilot After Arizona Crash That Killed 4
Authorities trying to determine whether drugs were involved in a fatal hot air ballon crash in Arizona released an amended autopsy report stating an anesthetic was administered to the pilot by an air ambulance company while he was being transported …
City Reaches Settlement in Lawsuit Over Death of Opioid-Addicted Woman
Relatives of a Vermont woman whose obituary drew national attention for its candid and heart-breaking discussion of her opioid addiction have reached a settlement with some of the parties who were sued for allegedly failing to provide adequate medical care. …
Farmworker Who Survived Mass Shooting at California Mushroom Farm Sues Company and Owner
A migrant farmworker who survived a mass shooting last year at a Northern California mushroom farm has filed a lawsuit against the farm and one of its owners, saying they failed to keep him safe from the colleague who authorities …
Descartes Labs Acquires Geosite in California
Descartes Labs acquired all of the operating assets of Geosite, a Palo Alto, Califorina-based SaaS provider of geospatial intelligence to property/casualty insurance companies. Rachel Olney, CEO of Geosite, will be leading the insurance technology business within Descartes Labs Inc. Geosite, …
St. Louis Residents Seek Compensation for Illnesses Tied to Nuclear Contamination
Karen Nickel has been dealing with lupus and other illnesses for years, illnesses she blames on childhood exposure to a suburban St. Louis creek where Cold War-era nuclear waste was dumped decades ago. It’s time, she said Friday, for the …
Texas Home Manufacturer Faces $272K Penalty for Safety Violations
An Austin, Texas subsidiary of one of the nation’s largest producers of modular and manufactured homes faces $272,479 in penalties after federal investigators found the company exposing employees to more than two dozen serious violations during an October 2023 inspection. …