INSURANCE NEWS
Toyota Recalls 380,000 Trucks Over Axle Issue That Could Raise Risk of Crash
Toyota Motor said Friday it is recalling about 380,000 trucks in the United States over an axle issue that could increase the risk of a crash. The recall covers 2022 and 2023 model year Tacoma vehicles because an axle shaft …
Lawsuit Claims Isolation and Abuse at Wyoming Boys School
Staff at Wyoming’s state youth detention facility locked juveniles in solitary confinement for weeks at a time, repeatedly buckled one in a restraint chair for up to 12 hours a day and poked fun at another while withholding the leg …
Physician Group Asks US to Make Funds Available to Doctors Hurt by Change Hack
Influential U.S. doctors’ group the American Medical Association (AMA) on Monday asked the Biden Administration to make emergency funds available to physicians hurt by ongoing problems created by the hack of UnitedHealth’s Change Healthcare unit. The AMA said the cyberattack …
Berkshire Unit Added to Lawsuit Over Inflated Real Estate Commissions
A unit of Warren Buffett’s Berkshire Hathaway was added on Monday to a lawsuit accusing the National Association of Realtors and several brokerages of conspiring to keep real estate commissions artificially high nationwide. The complaint filed in a Kansas City, …
6 Firefighters Injured in Collision of 2 Firetrucks Heading to Burning House
Authorities say a collision between two firetrucks responding to a blaze in northeastern Pennsylvania injured six firefighters. Officials in Luzerne County say a rescue truck from Valley Regional Fire and Rescue collided with a ladder truck from Hazle Township just …
Volkswagen Faces Pair of Lawsuits Over Claim Porsche EV Battery Sparked Ship Fire
Volkswagen AG faces a pair of lawsuits in Germany over claims it was the battery in a Porsche electric vehicle that triggered the 2022 fire onboard a massive cargo ship that eventually sank with thousands of cars on board. One …
Houthi Missile Damages MSC Container Ship in Gulf of Aden
Houthi militants attacked and damaged a Swiss-owned container vessel on Monday in the Gulf of Aden, as the Iran-backed group continues to roil shipping in the region. The MSC Sky II, managed by MSC Mediterranean Shipping Co., was about 91 …
AXIS Capital’s Syndicate 2050 Gets Full Lloyd’s Approval to Begin Underwriting
AXIS Capital Holdings announced it has received full approval from Lloyd’s to begin underwriting from April 1, 2024. AXIS first announced in December that it had secured in-principle approval from Lloyd’s to establish a new syndicate that will focus on …
Former Twitter Execs Sue Elon Musk for Over $128M in Severance
Four former top Twitter executives, including former CEO Parag Agrawal, have sued Elon Musk for over $128 million in combined unpaid severance, according to a lawsuit filed on Monday. The lawsuit, filed in federal court in San Francisco, is the …
NTSB: Engine Oil Warnings Sounded Just Before Jet Crashed on Florida Interstate
ST. PETERSBURG, Fla. (AP) — Moments before the deadly crash of a charter jet on a Florida highway, three warnings about oil pressure problems in its two engines sounded, the National Transportation Safety Board said in a preliminary report Tuesday. …
Insurer CEO Warns Limits on Cancellations Will Deter Carriers From Florida Market
The head of two property insurance companies set to enter the Florida market this year is warning state lawmakers that bills that would limit policy cancellations and nonrenewals after storm damage could do more harm than good. “It absolutely it …
Insurance Agent Pleads Guilty, Will Testify in Bribery Case Against Senator Menendez
A former New Jersey insurance agent has agreed to a deal with prosecutors under which he will testify in the federal corruption case against U.S. Senator Bob Menendez. In federal court in Manhattan last Friday, Jose Uribe pleaded guilty to …