INSURANCE NEWS
Storm Carrying Massive ‘Gorilla Hail’ Hits Parts of Kansas and Missouri
Massive chunks of hail pelted parts of Kansas and Missouri on Wednesday night, bringing traffic to a standstill along Interstate 70, as storms unleashed possible tornadoes and meteorologists urged residents to stay indoors. There were three unconfirmed reports of tornadoes …
In Ukraine’s Bombarded Ports, Ship Buyers Scout for Deals
Since Russia invaded Ukraine two years ago, nearly 50 merchant ships have been languishing in its waters, stuck in ports too dangerous to sail from. But while these ships have not moved, some of their owners have changed, highlighting the …
Michigan Man Who Was Accidently Shot in Face with Ghost Gun Sues Manufacturer
A 19-year-old Michigan man who lost his right eye after being shot with a firearm made from a ghost gun kit filed a lawsuit against his former best friend who accidentally shot him and the Pennsylvania company that sold his …
One of Lindberg’s Attorneys Withdraws Two Months Before Retrial Set to Begin
Embattled former insurance executive and entrepreneur Greg Lindberg has asked for a new attorney to represent him, less than two months before his second trial on bribery charges is set to begin. A federal magistrate judge this week granted a …
Florida Suit Says OnStar, LexisNexis Shared Driving Data with Insurers, Spiking Rates
Do motorist-assistance systems like GM’s OnStar feed data to auto insurers, resulting in higher premiums for some drivers? A south Florida man says indeed, they do, and has filed a proposed class-action lawsuit against General Motors and LexisNexis Risk Solutions, …
Residents Frustrated as $600K in Shore Protection Washes Away at Beach
A Massachusetts beach community is scrambling after a weekend storm washed away $600,000 in sand that was trucked in to protect homes, roads and other infrastructure. The project, which brought 14,000 tons (12,701 metric tons) of sand into Salisbury over …
China Probes Exposure of HK Units of Banks, Insurers to Local Gov’t Debt: Sources Say
China’s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain …
BNP Paribas Considers Buying Fosun’s Ageas Stake
BNP Paribas SA is considering a potential acquisition of Fosun International Ltd.’s stake in Belgian insurer Ageas, according to people with knowledge of the matter. The French lender has been holding discussions on a possible purchase of Fosun’s holding in …
Music Festivals Canceled This Year Reveal Rising Costs of Producing Large Events
For four decades, the Riverbend Festival delighted music fans in Tennessee with headlining acts like Lionel Ritchie and ZZ Top, but this year the show won’t go on. “Riverbend is reevaluating and restructuring in order to be successful in the …
Sierra Club Sues SEC for Weakening Climate Risk Disclosure Rules
A major environmental group has sued to challenge new rules issued by the U.S. Securities and Exchange Commission requiring public companies to report climate-related risks, arguing they do not go far enough to protect investors. The Sierra Club and the …
Terrorist Threat to US Has Reached ‘Whole Other Level,’ FBI’s Wray Warns
Terrorist threats toward the US have reached a “whole other level” from the already heightened situation before the Oct. 7 attack by Hamas on Israel and its response, FBI Director Christopher Wray said Tuesday. “You’ve seen a veritable rogue’s gallery …
People Moves: Former Louisiana Commissioner of Insurance Donelon Joins McGlinchey
McGlinchey Stafford, headquartered in New Orleans, named former Louisiana commissioner of insurance and attorney Jim Donelon as a member. While his insurance regulatory practice is national in scope, he will primarily work from the Baton Rouge and New Orleans offices. …