INSURANCE NEWS
Migrants Flown to Martha’s Vineyard by DeSantis Can Sue Charter Flight Company
BOSTON (AP) — Lawyers representing migrants flown to Martha’s Vineyard nearly two years ago by Florida Gov. Ron DeSantis can sue the charter flight company that transported them, according to a ruling Monday by a federal judge in Boston. The …
Murdaugh Sentenced to 40 Years for Stealing Insurance, Other Funds from Clients, Firm
CHARLESTON, S.C. (AP) — For maybe the last time, Alex Murdaugh, in a prison jumpsuit instead of the suit he used to wear, shuffled into a courtroom Monday in South Carolina and was sentenced to 40 years in federal prison. …
States Eye Requiring Fossil Fuel Companies to Pay for Some Climate Change Damage
The Vermont Legislature is advancing legislation requiring big fossil fuel companies pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather. The state Senate is expected to …
Court Approves 3M Settlement Over ‘Forever Chemicals’ in Public Water Systems
Chemical manufacturer 3M will begin payments starting in the third quarter to many U.S. public drinking water systems as part of a multi-billion-dollar settlement over contamination with potentially harmful compounds used in firefighting foam and several consumer products, the company …
PE Firm Brera Partners Buys 70% of Shares in Italian Broker GBSAPRI Group
Brera Partners, a Zurich-based private equity firm specializing in investments in the asset-light financial services sector, announced it has acquired 70% of the shares in Italian insurance broker GBSAPRI Group, with the strategy to drive consolidation in Italy’s fragmented insurance …
Microsoft Faulted for ‘Inadequate’ Cyber Practices in US Report
A Chinese-state intrusion last year of Microsoft Corp. technology that enabled hackers to gather US officials’ emails “should never have occurred,” according to a report released Tuesday from a government cyber review board. The Cyber Safety Review Board, a White …
Viewpoint: Many Businesses May Be Exposed to Losses From Snow Melt Flooding
Executive summary: Snow melt flooding is an imminent threat in the U.S., but there are steps insurance professionals can take to mitigate their clients’ risk, says Richard Coyle, U.S. commercial director at FloodFlash. Catastrophic flooding is a major problem in …
Worst Taiwan Quake in 25 Years Leaves Four Dead, Dozens Injured
Taiwan’s strongest earthquake in a quarter of a century leveled dozens of buildings on the eastern side of the island, killing at least four people and disrupting some chip production lines. The quake hit at 7:58 a.m. local time Wednesday …
Swiss Re Names Berger as Group CEO, Succeeding Mumenthaler
Swiss Re announced that Andreas Berger will become group chief executive officer, effective July 1, 2024, taking over from Christian Mumenthaler, who will step down. “The board unanimously determined that Andreas Berger is the right person to build on the …
Spinnaker Veterans Launch Fronting Start-Up Emerald Bay With Backing From Bain Capital
Emerald Bay Risk Solutions has launched as a property/casualty insurance fronting carrier, backed by Bain Capital Insurance and headed by a group of insurance veterans who have fronting experience. Calling itself a “collaborative underwriting carrier,” the new entity hopes to …
KC Chiefs Player Cooperating With Police After Sports Car Crash in Texas
DALLAS (AP) — An attorney for Kansas City Chiefs player Rashee Rice said Monday that the wide receiver is cooperating with authorities after a speeding Corvette and Lamborghini sport utility vehicle caused a chain-reaction crash on a busy Dallas highway …
Public Health Groups Sue FDA Again Over Delayed Menthol Ban
Public health groups sued US regulators a second time for failing to follow through on a plan to ban menthol-flavored tobacco products. The lawsuit filed Tuesday in a federal court in Northern California claims that the Food and Drug Administration …