INSURANCE NEWS
Freight Railroads Must Keep 2-Person Crews Under New Federal Rule
Major freight railroads will have to maintain two-person crews on most routes under a new federal rule that was finalized Tuesday in a milestone in organized labor’s long fight to preserve the practice. The Transportation Department’s Federal Railroad Administration released …
Japanese Lens Maker Hoya Halts Production After Cyberattack
Japanese lens maker Hoya Corp. on Thursday said the production of several of its products have stopped after a system failure, which was “most likely caused by unauthorized access” to its servers. Hoya said the company discovered a system discrepancy …
Lack of Immunity Raises Risk of Bird Flu Pandemic: EU Food Safety Agency
The EU’s Food Safety Agency (EFSA) warned on Wednesday of a large-scale bird flu pandemic if the virus becomes transmissible between people as humans lack immunity against the virus. This comes a day after Texas reported that the H5N1 strain …
Colombia Insurers Fear Petro’s Takeover to Spark Health Crisis
President Gustavo Petro’s decision to take control of a top Colombian health insurer sets a dangerous precedent, according to the industry and patient associations. The South American nation’s health superintendent will run EPS Sanitas for one year after it failed …
Panama Canal Drought Could Threaten Global Supply Chains, S&P Says
The severe drought which has forced the Panama Canal, one of the world’s busiest trade passages, to limit daily crossings could impact global supply chains during a period of high demand, S&P Global said on Wednesday. The canal has imposed …
Markets/Coverages: AXA XL’s U.S. Mid-Market Insurance Business Expands GL Coverage
AXA XL’s U.S. Mid-Market insurance business is extending its general liability coverage for mid-sized businesses with its new XL Plus broadening endorsement, offering more than two dozen expanded protections. The XL Plus endorsement expands the scope and depth of coverage …
Howden Tiger to Rebrand as Howden Re
Howden Tiger, the global reinsurance arm of Howden, will rename as Howden Re, effective April 8, 2024. This strategic change follows Howden’s rebrand in October last year, which united its broking operations under one name. Today, with its reinsurance business …
Tech Update: Vertafore Delivers Policy Binding in its Personal Lines Rater; Amwins’ Online Marketplace Provides Bindable Quotes From Multiple Carriers
Vertafore Delivers Policy Binding in Personal Lines Rater Vertafore, headquartered in Denver, launched the industry’s first bind capability within a personal lines rater. Vertafore’s personal lines rating and quoting platform, PL Rating, enables independent agencies to quickly find and bind …
LSU Settles Case Involving Sexual Assault Allegations Against Football Players
BATON ROUGE, La. (AP) — LSU and 10 former students who sued the school over alleged mishandling of sexual assault and domestic violence complaints against football players and others at Louisiana’s flagship state university have settled the case. “The Court …
Majority of CO2 Emissions Linked to Just 57 Producers: Report
The vast majority of planet-warming carbon dioxide emissions since 2016 can be traced to a group of just 57 fossil fuels and cement producers, researchers said on Thursday. From 2016 to 2022, the 57 entities including nation-states, state-owned firms and …
Sanofi to Settle 4,000 Zantac Cancer Lawsuits in US State Courts
Sanofi has reached an agreement in principle to settle 4,000 U.S. lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday. Sanofi did not disclose the financial terms of the deal. The agreement, which still needs …
Utility Company Skips Texas Panhandle Wildfire Hearings
AMPA — A company hired to inspect utility poles in the Panhandle declined to testify before Texas lawmakers Wednesday, as part of the state’s inquiry into the Smokehouse Creek fire — the largest wildfire in state history that burned more …