INSURANCE NEWS
Climate Activists, Greenpeace and Uplift, Sue UK Over Rosebank Oil Field
Greenpeace UK and climate campaigner Uplift filed separate legal challenges in Scotland seeking to rescind government approval for the Rosebank oil development in the North Sea. Equinor ASA and partner Ithaca Energy Plc said they would make a final investment …
Kansas Courts’ Computer Systems Are starting to Come Back Online Following Cyberattack
TOPEKA, Kan. (AP) – The court system in Kansas has started bringing its computer system for managing cases back online, two months after a foreign cyberattack forced officials to shut it down along with public access to documents and other …
Shadow-Fleet Oil Tanker Insurer Gets Shut Down by Marshall Islands
A company that offers insurance to the burgeoning shadow fleet of oil tankers — including one that ran aground off the coast of Indonesia — was shut down by the Marshall Islands, the firm’s only published address. The Continental Steamship …
Red Sea Merchant Shipping Starts to Grind to a Halt as Houthis Step Up Attacks
Shipping in the Red Sea is grinding to a halt with oil tankers idling and container vessels rerouting around Africa as violence linked to the Israel-Hamas war threatens to undermine the global economy. Two European oil and gas giants said …
Lloyd’s Adds Guyana to Risky Shipping List Amid Escalating Dispute With Venezuela
One of the world’s most-influential insurance markets added Guyana to its list of the riskiest shipping zones amid an escalating territorial dispute with neighboring Venezuela. The decision announced by Lloyd’s Market Association’s Joint War Committee on Monday applies only to …
Vans Owner VF Corp’s Order Fulfillment Operations Hit by Cyber Incident
VF Corp. said on Monday it was investigating “unauthorized” activity on its computer systems that disrupted some operations, including the ability of the Vans sneaker maker to fulfill global customer orders on its e-commerce site. Shares of VF Corp were …
WCRI: Consolidation of Health Care Leads to Higher Costs, Longer Disability Duration
Consolidation of health care services into large corporations that own hospitals, clinics and physician practices may hold the promise of more efficient and better-integrated care, but hasn’t led to better outcomes for workers’ compensation patients, according to a new study …
Companies Are Still Trying to Figure Out How to Comply With SEC Cyber Rules
Some public companies are still trying to figure out how to comply with new rules from the US Securities and Exchange Commission requiring speedy disclosure of significant cyberattacks. Those rules, which kicked in Monday, require companies to report cyber incidents …
Florida Court Rulings, Legislation Could Impact Insurers’ Claims Practices
Recent Florida legislation that has limited plaintiffs’ attorney fees and has raised the bar for bringing bad-faith claims against insurers appears to have already had an impact on the level of claims litigation in the state. Policyholder lawyers note that …
Florida Judge Slams Universal for ‘Stonewalling,’ Demands Answers From Company
Universal Property & Casualty Insurance Co. officials are discounting the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default on lawsuits, have referred a Universal lawyer for disciplinary action, …
Wisconsin Corn Mill Agrees to Pay $1.8M After Fatal Explosion
A Wisconsin milling company has agreed to pay an additional $1.8 million in penalties after a corn dust explosion that killed five workers and injured more than a dozen others at its Cambria plant in 2017, the federal Labor Department …
With One Month to Go, Progressive’s Yearly Combined Ratio Hit Target of 96
Progressive Corp. has achieved its combined ratio goal of 96, according to its release of November and year-to-date results. On Friday, Progressive said November net income was $680.6 million and its combined ratio for the month was 91.1. Year-to-date net …