INSURANCE NEWS
Crypto Exchange HTX Hit by $258M Outflow After Major Hack
The HTX exchange, a digital-asset trading platform linked to China-born industry mogul Justin Sun, has suffered a $258 million net outflow since resuming operations after suffering a major hack. The funds left the exchange between its Nov. 25 restart and …
Starbucks Says It Wants Union Talks, Agreements in 2024
Starbucks Corp. said it reached out to the union representing hundreds of its stores to try to end an impasse over contract talks, a conflict that has frayed the coffee giant’s relationship with some of its frontline employees. The chain …
Amazon Asks Judge to Dismiss FTC Lawsuit, Says No Consumer Harm Shown
Amazon.com asked a federal court on Friday to dismiss a U.S. government antitrust lawsuit which accuses the company of using illegal strategies to boost profits at its online retail empire, including an algorithm that allegedly pushed up prices by more …
NRA to Have Surprising Defender in Supreme Court Free Speech Case: the ACLU
In a case of politics making strange bedfellows, the National Rifle Association will be represented by frequent nemesis the American Civil Liberties Union in an appeal before the U.S. Supreme Court. The New York-based civil liberties group confirmed Saturday that …
In Florida, One Coast is Soaked. The Other is Parched.
ST. PETERSBURG, Fla. (AP) — In Florida, this year has been a tale of two states as far as rainfall totals, with the southeast coast deluged by sometimes-record rainfall and much of the Gulf of Mexico coast facing a drought. …
With Differing Court Rulings on Pre-suit Notice of Intent, Florida Insurers Left Guessing
On October 27, 2023, Florida’s 5th District Court of Appeal ruled that a personal injury protection pre-suit demand letter needs to include only a billing ledger and does not need to state the exact amount that the plaintiff will be …
TSLA Names Officers and Directors at Annual Meeting
The Texas Surplus Lines Association, Inc. announces the election of the following Officers and Directors at its 68th Annual Meeting held at the Four Seasons Hotel Austin on November 13, 2023. President – Kimmi Cantwell, McGowan, Donnelly & Oberheu, LLC …
Microsoft’s OpenAI Investment Risks Scrutiny From US, UK Regulators
The US Federal Trade Commission is examining the nature of Microsoft Corp.’s investment in OpenAI Inc. and whether it may violate antitrust laws, according to a person familiar with the matter. The inquiries are preliminary and the agency hasn’t opened …
Son of North Dakota Senator Crashes During Police Chase, Killing Sheriff`s Deputy
BISMARCK, N.D. (AP) – The 42-year-old son of U.S. Sen. Kevin Cramer crashed into a North Dakota sheriff`s vehicle during a police chase, pushing it into a deputy and killing him, according to authorities and the Republican senator`s family. Ian …
5th Circuit Largely Sides With Louisiana Sheriff`s Deputies Accused in Lawsuit of Using Excessive Force
NEW ORLEANS (AP) – A federal appeals court has largely sided with two white Louisiana sheriff`s deputies in a lawsuit filed by a Black woman, rejecting her claims that they used excessive force against her as they investigated an allegation …
Kansas Insurance Companies to See Reduced Surplus Lines Tax Rate in 2024
Insurance companies in Kansas will pay a reduced surplus lines tax rate beginning next year after the legislature passed a law lowering the surplus tax rate from 6% to 3% for tax years 2024 and after. Kansas insurance Commissioner Vicki …
Markets/Coverages: Howden Launches European Cyber & Tech E&O Facility
Howden, the global insurance group, today announces the launch of one of the first dedicated European cyber and technology errors & omissions line slips for primary business. The product is led by Canopius and IQUW with support from three other …