INSURANCE NEWS
Pfizer Agrees to Settle More Than 10,000 Zantac Cancer Lawsuits
Pfizer Inc. has agreed to settle more than 10,000 cases accusing it of hiding the cancer risks of its Zantac heartburn drug, according to people familiar with the deal, the biggest of the litigation. The agreements cover cases in state …
Markets/Coverages: FM Global Names Leadership for New Renewable Energy Unit
Commercial property insurer FM Global announced the launch of a renewable energy unit to help clients in the transition to alternative energy through research and innovation, and to support the overall advancement of the renewable energy industry. FM Global’s Renewable …
McMaster Requests Federal Help After Wind, Hail Storm That Damaged SC Homes
South Carolina Gov. Henry McMaster has requested a presidential disaster declaration to assist in recovery after wind and hail damaged homes the northern part of the state on April 20. “I have determined that the situation and survivor recovery needs …
In Tesla Autopilot Probe, US Prosecutors Focus on Securities, Wire Fraud
U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking …
International General Insurance Holdings Begins Trading at Lloyd’s on May 9
International General Insurance Holdings Ltd. announced it will begin trading for the first time at Lloyd’s on May 9, 2024, demonstrating the company’s long-term commitment to the London market. Located in the Lloyd’s underwriting room at One Lime Street, IGI …
Markets/Coverages: Marsh Launches Insurance for EU Crypto-Asset Service Providers
Insurance broker Marsh announced the launch of MiCAssure, a proprietary insurance solution for crypto-asset service providers such as custodians, exchanges, and administrators operating within the European Union (EU), which are required to comply with the forthcoming Markets in Crypto-Assets Regulation …
Worsening Weather Igniting $25 Billion Weather Derivatives Market
Marty Malinow’s mom never could get her head around what her son did for a living. To friends, she said he was “a stockbroker that does something with the weather.” Malinow couldn’t really object — he knew most people had …
Saudi Arabian Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO
Saudi Arabian fintech firm Rasan intends to sell a 30% stake in its Riyadh initial public offering, making it one of the first companies from the sector to go public in the kingdom. Rasan and its investors will offer 22.7 …
Typhoon Season in Northwest Pacific Seen Less Active Than Normal
Typhoon activity in the Northwest Pacific region is expected to be about 20% below normal this year, forecaster Tropical Storm Risk said in its first outlook of the season. The London-based group said it expects 15 typhoons, seven of which …
World Extends Run of Heat Records for 11th Month in a Row
April was the Earth’s 11th consecutive month of record-breaking heat, with warmer weather already sweeping across Asia and a hotter-than-usual summer expected in Europe. The European Union’s Copernicus Climate Change Service said last month’s temperatures globally were 1.58C (2.8F) above …
Full Repairs to Damaged Red Sea Internet Cables Delayed by Yemen Political Splits
Full repairs to three submarine internet cables damaged in the Red Sea in February are being held up by disputes over who controls access to infrastructure in Yemeni waters. The Yemeni government has granted permits for the repair of two …
Clergy Sexual Abuse Probe Targets New Orleans Catholic Church Leaders
NEW ORLEANS (AP) — Authorities have expanded an investigation of clergy sexual abuse in the Roman Catholic Church in New Orleans to include senior church officials suspected of shielding predatory priests for decades and failing to report their crimes to …