INSURANCE NEWS
Arkansas Private Railroad Fined $910K Over Hazardous Waste Violations
The EPA recently finalized a settlement with the Arkansas Midland Railroad Company over alleged hazardous waste violations at a private rail track in Hot Springs, Arkansas. The company illegally stored more than 750,000 gallons of highly flammable hazardous waste in …
Barn Collapse in Southern Illinois Kills 1 Man, Injures Another
WATERLOO, Ill. (AP) — One man was killed and another was injured in southern Illinois when a barn partially collapsed into a burn pit and caught fire, authorities said. A man called 911 at 9:35 a.m. Saturday and said a …
Coming and Going, Extended Premises Rules Don’t Help Employee Injured on Crosswalk
An employee of a diagnostics firm in Virginia who was injured when she fell on a crosswalk on her way to work is not entitled to workers’ compensation benefits. The Virginia Workers’ Compensation Commission (VWCC) has upheld a deputy commissioner’s …
Russia’s Oil Is Finally Getting Snarled by Sanctions
The Russian oil-export machine funding the Kremlin’s war in Ukraine is finally getting some grit in its gears. Indian oil refiners — Moscow’s second-biggest customers after China since the 2022 invasion — will no longer accept tankers owned by state-run …
Markets/Coverages: Marsh Creates Cyber Group Captive for Clients Seeking More Stability in Insurance Programs
Marsh, the insurance broker, risk adviser and a unit of Marsh McLennan, announced the creation of Edgware Re Ltd., a group captive insurance company for organizations seeking more control and stability in their cyber insurance programs. Based in Bermuda, Edgware …
California Work Safety Board Approves Indoor Heat Rules, But Another State Agency Raises Objections
As global warming raises temperatures, a California work safety board has approved standards that would require companies to protect employees from excessive indoor heat, particularly in warehouses. The rules still need to overcome opposition by another state agency. The rules …
West Virginia Lawmakers Ban Smoking in Cars with Kids Present
CHARLESTON, W.Va. (AP) — West Virginia, which has the highest rate of adult cigarette use in the nation, became the 12th state to ban smoking in vehicles with children present under a bill signed by Republican Gov. Jim Justice on …
Two Crew Members on Florida-based Cruise Line Die in Ship’s Engineering Space
FORT LAUDERDALE, Fla. (AP) — Two crew members on a Holland America cruise ship died during an “incident” in the ship’s engineering space, the cruise line said. The unidentified crew members died Friday while the Florida-based Nieuw Amsterdam was at …
Worst Is Over: Most of Casualty Reserve Hole May Be Filled, Analyst Says
Predictions that the property/casualty insurance industry is in the midst of repeating the type of loss reserving cycle that accompanied the hard market of the beginning year of this century may be overblown, according to an analyst. In fact, William …
Ageas Says It Won’t Make Third Offer for Direct Line Insurance
Ageas said it will halt its pursuit of UK insurer Direct Line Insurance Group Plc after two takeover proposals were rejected this year. The Belgian insurer had put forth an offer valuing Direct Line at about £3.2 billion ($4.1 billion) …
Hong Kong Reports Its Highest March Temperature in 140 Years
Hong Kong’s temperature on Sunday reached the highest recorded level during the month of March in 140 years, according to the city’s observatory. The maximum temperature measured at the Observatory was 31.5C (88.7F) — the highest reported during the month …
North Korean Hackers Stalk Crypto Startups Scrimping on Security
It’s every cryptocurrency project’s nightmare: Well-resourced hackers — perhaps backed by a rogue state like North Korea — strike out of nowhere, dismantling cyber defenses and making off with millions of dollars in customer funds. Many crypto outfits, large and …