INSURANCE NEWS
Republican-Led States Sue SEC Over Climate Risk Disclosure Rules
Ten Republican-led states have sued to challenge new federal rules that require U.S.-listed companies to report climate-related risks, a spokesperson for the West Virginia Attorney General’s Office said on Wednesday, hours after the U.S. Securities and Exchange Commission approved the …
Controllers Cleared Runway But Pilot Couldn’t Make it in Fatal Tennessee Crash
NASHVILLE, Tenn. (AP) — The pilot of a single-engine plane that crashed near downtown Nashville told air traffic controllers he could see the runway they were clearing for an emergency landing. But he said he couldn’t reach it. “I’m going …
Group That Sued Pfizer Over Diversity Program Loses Appeal
A U.S. appeals court on Wednesday upheld the dismissal of a lawsuit by a conservative group opposed to diversity initiatives in medicine that challenged a Pfizer fellowship program designed to boost the pipeline of Black, Latino and Native American people …
US P/C Industry Underwriting Loss Reaches 10-Year High: AM Best
Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that …
Hub Int’l Acquires Canada Employee Benefits Specialist Zavitz Insurance and Wealth
Hub International Ltd., the Chicago-based insurance brokerage and financial services firm, announced it has acquired Zavitz Insurance and Wealth Inc. Terms of the transaction were not disclosed. Located in London, Ontario, Canada, Zavitz Insurance and Wealth provides group employee benefits, …
Houthi-Sunk Ship Seen as Likely Cause of Severed Red Sea Cables
The anchor of a cargo ship that was attacked by Houthi militants was the most likely cause of damage to three telecommunications cables in the Red Sea in late February, according to a subsea cable trade group that includes companies …
Generali CEO’s Strategic Wishlist Includes €10 Billion Deals
Assicurazioni Generali SpA is analyzing a range of potential takeover candidates as part of the insurer’s growth plans, with some of them worth more than €10 billion ($10.9 billion), according to people familiar with the matter. The Italian insurer would …
Lawsuit Filed Against Lighting Company Over Ohio Cannabis Facility Explosion
An Ohio cannabis manufacturer and its insurer are suing a lighting products provider for negligence after a lamp it sold exploded at a greenhouse, causing six figures worth of damages. Cure Ohio and Dorchester Insurance filed a complaint last week …
‘Exit Scam’ – Hackers That Hit UnitedHealth Pull Disappearing Act
The hackers responsible for the breach at UnitedHealth Group appear to have pulled a disappearing act on Tuesday, leaving their cybercriminal associates in the lurch and replacing their old website with a bogus statement from law enforcement. The U.S. insurer …
Chemical Linked to Cancer Found in Acne Creams Including Proactiv, Clearasil
Hand sanitizers were tainted by benzene. Sunscreens and dry shampoos too. Now acne treatments are joining the list of widely used consumer products found to contain high levels of the chemical linked to cancer. Acne products from brands including Proactiv, …
Giving Highlighted at Annual Philanthropic Roundtable
Leaders from 25 major insurance organizations recently gathered for presentations on charitable giving and volunteerism in the insurance industry and initiatives focused on philanthropy, inclusion and sustainability. During the Insurance Industry Charitable Foundation’s 2024 Philanthropic Roundtable, which took place on …
Fed Court Wants Florida Supremes to Clarify Rule that Can Bar Subrogation Recovery
In the next year or so, the Florida Supreme Court will decide on the exact meaning of a legal doctrine that, under one interpretation, has blocked the recover of millions of dollars per year in subrogation recovery for liability insurance …