INSURANCE NEWS
Fisker to Recall Over 12,000 Ocean Vehicles
Electric-vehicle firm Fisker is recalling more than 12,000 Ocean vehicles to fix an issue where exterior door handles can stick and fail to open, the company said on Friday, marking its third recall this month. The U.S. National Highway Traffic …
Australia Approves ANZ’s $3.3B Buyout of Suncorp; Deal Will Help With Insurance Focus
Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial regulators and treasury. Treasurer Jim Chalmers said the deal …
People Moves: Gallagher Re Appoints Rudden as Head of Green Solutions; Markel Taps BHSI’s Gebran as Head of Casualty in MENA Region
This edition of International People Moves details appointments at Gallagher Re and Markel. A summary of these new hires follows here. Gallagher Re Appoints Rudden as Head of Green Solutions Gallagher Re announced the appointment of Richard Rudden as head …
Claimants for Deadly Mariana Dam Collapse File Injunction Against BHP, Vale
Lawyers representing claimants taking legal action over Brazil’s worst environmental disaster filed an injunction this week against miners BHP and Vale for “trying to derail” a potential 36 billion-pound ($46 billion) London lawsuit. More than 720,000 Brazilians, including 46 local …
BMS Australia Launches Agriculture Business
BMS Australia, the London-based specialist insurance and reinsurance broker, announced the launch of its Agriculture business with Ceri Martin appointed to lead the division. The establishment of this new business is part of BMS’ global strategy to deepen its expertise …
Insurers Seek Subrogation Against Norfolk Southern Over Ohio Train Derailment
Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court last week, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire, explosion and release of toxic chemicals. Erie Insurance …
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey
Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums. Within the last five years, homeowners’ insurance premiums have …
Guidance and Insurance Implications for the CDK Global Cyberattack
On June 18 and 19, 2024, CDK Global (CDK), a leading provider of cloud-based software to auto dealerships in North America, fell victim to a two-tiered cyberattack. 15,000 dealerships are potentially impacted, with multiple departments affected, including sales, financing and …
Supreme Court Blocks EPA’s ‘Good Neighbor’ Air Pollution Plan
The U.S. Supreme Court blocked an Environmental Protection Agency regulation aimed at reducing ozone emissions that may worsen air pollution in neighboring states, handing a victory on Thursday to three Republican-led states and the steel and fossil-fuel industries that had …
Here Are the Legal Battle Lines in Ireland’s Multi-Billion Euro Russian Jet Trial
The opening salvos have been fired in a 2.5 billion euro ($2.7 billion), Irish court battle between some of the world’s largest aircraft lessors and their insurers over around 80 jets stranded in Russia. Dublin’s High Court earlier this month …
Lawsuits Targeting ‘Climate Washing’ Becoming More Frequent
Companies accused of misrepresenting their progress on tackling climate change are increasingly finding themselves the target of litigants, as activist groups look to hold some of the world’s worst polluters to account. As many as 47 new climate washing cases …
After Oil, Russia May Be Building a Shadow Fleet for Gas
In the months that followed its invasion of Ukraine and punitive Western restrictions imposed in response, Russia amassed a shadow fleet to ferry its oil around the world. Now there is growing evidence Moscow has begun to do the same …