INSURANCE NEWS
Buttigieg Scolds Railroads for Not Doing More to Improve Safety Since Ohio Derailment
Transportation Secretary Pete Buttigieg has reiterated his concerns about railroad safety and scolded the industry for not doing more to improve since last year’s fiery Ohio derailment. In a new letter to the freight railroads’ main trade group, Buttigieg acknowledged …
Massachusetts Couple Charged With $627K in Workers’ Compensation Fraud and More
A Hopkinton, Massachusetts couple has been arrested and charged in connection with separate schemes to defraud their workers’ compensation insurance carriers, the Small Business Administration (SBA) and their mortgage lender. According to the U.S. Attorney, Ronaldo Solano and Adriana Solano …
Dozens Allege Child Sexual Abuse in Maryland Treatment Program Run by Catholic Order
More than three dozen people allege in two lawsuits filed Tuesday that they were sexually abused as children at a Maryland residential program for youths that closed in 2017 following similar allegations. In the separate lawsuits, attorneys detailed decades of …
Police Say Private Jet Was Short on Approach to Virginia Runway When It Crashed, Killing 5
A small private jet was short on its approach to a rural Virginia airport’s runway when it struck trees and crashed into a hillside and burned, killing all five people aboard, state police said Monday. The twin-engine IAI Astra 1125 …
Waymo’s Robotaxi Expands into Los Angeles, Starting Free Rides in Parts of City
Robotaxis will begin cruising the streets of Los Angeles this week when Google spinoff Waymo starts offering free rides to some of the roughly 50,000 people who have signed up for its driverless ride-hailing service. Waymo is expanding into Los …
California Insurance Commissioner: Allow Cat Modeling in Rates for Wildfires
California Insurance Commissioner Ricardo Lara said he will allow catastrophe modeling to be used in rate regulation for wildfires, a move he says will help restore insurance options for Californians, including allowing. It was the latest phase of Lara’s Sustainable …
California Insurer of Last Resort Is Unprepared for Big Disaster
California’s property insurer of last resort told lawmakers that it’s financially unprepared to cover the costs of a major catastrophe in the state. The plan now faces $311 billion in potential losses, up from $50 billion six years ago, California …
US Inflation Up Again in February in Latest Sign Price Pressures Remain Elevated
Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s re-election campaign, both of which are counting on a steady easing of price …
Lloyd’s and Bermuda Monetary Authority Collaborate to Share Risk Expertise
The Lloyd’s market and the Bermuda Monetary Authority (BMA) are jointly developing an initiative to share risk expertise between these two major re/insurance hubs. The focus will be on fostering innovation through the Lloyd’s Lab and improving access to education …
Hackers Roil Entire Industries With Attacks on IT Supply Chain
Across Paraguay, hackers knocked out online services provided by the foreign ministry and companies. In Sweden, they crippled the payroll and human resources systems of more than 100 government bodies, including the central bank and parliament, as well as hospitals, …
Savannah Planning a Supersized 200th Anniversary of St. Patrick’s Day Parade
SAVANNAH, Ga. (AP) — There was no green beer, no pickup trucks towing parade floats or throngs of tourists in gaudy green outfits. Instead, just a few dozen of Savannah’s early Irish immigrants marched a half-mile from a hotel near …
Bond Slashed by $1.8M for Man Accused of Crashing Into Senator’s Wife in Alabama
BIRMINGHAM, Ala. (AP) — An Alabama judge cut bond by nearly $1.9 million on Tuesday for a man accused of fleeing from police during a car chase and causing a crash last January that injured Gayle Manchin, the wife of …