INSURANCE NEWS
False Claims Act Cases Resulted in $2.7B in Fiscal Year 2023: DOJ
The U.S. Department of Justice said a record 543 settlements and judgements under the False Claims Act resulted in about $2.7 billion in the fiscal year ending Sept. 30, 2023. The amount of settlements and judgements was a 54% increase …
Jury Must Decide If Virginia Sheriff’s Killing of Dog Was Constitutional
A Virginia deputy sheriff must face a jury over whether his shooting to death of a dog was justified or if it was unconstitutional before it can be determined if he is entitled to qualified immunity, a federal appeals court …
Direct Line Rejects Ageas £3.1 Billion Takeover Bid, Sources Say
Belgian insurer Ageas made an approach to buy Direct Line Insurance Group Plc in recent weeks that was rejected, according to people familiar with the matter. Ageas has been working with advisers on the potential acquisition, they said, asking not …
Houthis Say They Could Reassess Red Sea Attacks if Israeli ‘Aggression’ Stops
Yemen’s Houthis said on Tuesday they could only reconsider their missile and drone attacks on international shipping in the Red Sea once Israel ends its “aggression” in the Gaza Strip. Asked if they would halt the attacks if a ceasefire …
Banks, Insurers Targeted as Climate Group Seeks EU Review of Deforestation Rule
Climate activists are putting pressure on the European Union to reconsider its decision to exclude banks from a landmark deforestation rule, in a move designed to preempt an official review of the regulation next year. UK-based nonprofit Global Canopy says …
Southern Water Fined for Sewage Spill That Killed 2,000 Fish in England
Southern Water was fined £330,000 on Tuesday after admitting a raw sewage spill that killed thousands of fish on the edge of England’s South Downs National Park. Southern, which supplies more than 4.6 million people in England, acknowledged that sewage …
UK Has More ‘Fragile Firms’ Than EU Peers: Allianz Report
The UK has the highest proportion of “fragile firms” out of all major European economies, another sign of the headwinds facing Prime Minister Rishi Sunak as he attempts to boost growth. About 15% of small and medium-sized enterprises in the …
Wildfires Forces Texas Panhandle Residents to Shelter in Place
Officials have ordered nearly 5,000 residents in the Panhandle cities of Canadian, Fritch and Glazier to shelter in place Tuesday as four separate wildfires engulfed the region, burning more than 280,000 acres. Residents in Hemphill County, where Canadian is, were …
Change Healthcare Cyberattack Is Still Disrupting Pharmacies, Other Providers
A cyberattack that has disrupted Change Healthcare’s computer networks for nearly a week is creating a growing administrative problem for pharmacies and health-care providers around the nation. Change Healthcare, a division of UnitedHealth Group Inc., processes insurance claims and pharmacy …
OpenAI Says New York Times ‘Hacked’ ChatGPT to Build Copyright Lawsuit
OpenAI has asked a federal judge to dismiss parts of the New York Times’ copyright lawsuit against it, arguing that the newspaper “hacked” its chatbot ChatGPT and other artificial-intelligence systems to generate misleading evidence for the case. OpenAI said in …
Markets/Coverages: Legal & Contingency Launches EV Charging Site Insurance for England and Wales
Legal & Contingency Ltd. (L&C), the London-based MGA that specializes in underwriting legal indemnities and title risks, announced the launch of an insurance policy which will cover the installation of electric vehicle charging points in England and Wales. The “Electric …
People Moves: Alabama, NC DOIs Name Two to Key Positions
Two state insurance departments have named new people to high-level positions. North Carolina Insurance Commissioner Mike Causey this week announced that Amy Funderburk, a longtime attorney for a number of state government agencies and a credit union, will take over …