INSURANCE NEWS
West Virginia Bill Stokes Fears About Pesticide-Producing Logging Facility
CHARLESTON, W.Va. (AP) — A West Virginia bill approved by the House of Delegates on Tuesday that limits counties from regulating agricultural operations is stoking fears that a logging company could resurrect plans to build a toxic-spewing fumigation facility in …
Trial in Fatal New Mexico Movie Shooting to Focus on How Live Ammunition Got on Set
The scheduled trial next week of a movie weapons supervisor in the fatal shooting of a cinematographer by Alec Baldwin may hinge on an enduring mystery: How did live ammunition find its way onto the set of a film set …
Oracle Women Fought 7 Years for Equity, Only to Win an Extra Paycheck or Two
Oracle Corp. female employees who fought the company in court for almost seven years over gender-pay equity reached a $25 million settlement — a small price for the software giant that amounts to one or two paychecks for most of …
Bankruptcy Judge Permits Insurance Payments for Bed Bath & Beyond Executives
The directors and officers of Bed Bath & Beyond will have their legal costs related to the retailer’s bankruptcy covered under a Zurich American Insurance policy. U.S. Bankruptcy Judge Vincent F. Papalia has stipulated that Zurich Insurance can issue payments …
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a relatively stable economic environment in 2023, a long run of …
Tinder, Other Match Dating Apps Encourage Compulsive Use, Lawsuit Claims
Match Group was sued on Wednesday in a proposed class action claiming that its dating apps Tinder, Hinge and The League are designed to addict users, generating more profit for the company, rather than help them establish relationships. The plaintiffs …
People Moves: Kestenbaum to Manage New Burns & Wilcox Boston Office; ShoreOne Names Voss Claims Officer
Burns & Wilcox Names Kestenbaum Managing Director of New Boston Office Insurance broker Burns & Wilcox, headquartered in Farmington Hills, Michigan, named Peter Kestenbaum managing director of its new Boston office. Kestenbaum joins Burns & Wilcox with nearly 20 years …
Howden to Acquire Captive Manager ARM Group Holdings
Howden, the London-based insurance intermediary group, announced it has agreed to acquire ARM Group Holdings Ltd., the parent of Alternative Risk Management, one of the largest independent insurance managers in Europe and a specialist in the formation and management of …
Vermont’s Consumer Protection Suit Against Energy Firms Returned to State Court
The federal district court in Burlington, Vermont recently granted the state attorney general’s motion to return the state’s consumer protection case against Exxon and other fossil fuel producers to state court. The federal court said that since the case is …
Banks, Insurers Ordered to Report Sexism and Bullying Cases in Britain
Britain’s markets watchdog has ordered more than 1,000 banks, insurers and brokerages to report how many sexual harassment, discrimination and other non-financial misconduct cases they have recorded since 2021 and how they have dealt with them. The Financial Conduct Authority …
FWD Mulls Options for $10 Billion Insurer After IPO Delay, Sources Say
FWD Group Holdings Ltd., the Asian insurer controlled by billionaire Richard Li, is considering options including a potential stake sale after delaying a planned initial public offering, according to people familiar with the matter. The company could seek a valuation …
Regulators to Review Power System Performance During Recent Winter Storms
U.S. energy regulators have launched a review of the performance of the bulk power system during recent winter storms in January that brought Arctic air across much of North America, the North American Electric Reliability Corporation (NERC) said on Tuesday. …