INSURANCE NEWS
MLB, Formula 1 Face Fraud Suits for Promoting FTX Cryptocurrency
FTX investors suing the cryptocurrency exchange’s celebrity promoters for allegedly helping to facilitate an $11 billion fraud have some new targets, including Major League Baseball, Formula 1 racing and Mercedes-Benz Group AG’s racing team. Investors’ lawyers sued MLB – the …
Former Allstate Agent in North Carolina Ordered to Abide by Non-Compete Agreement
A former Allstate insurance agent in North Carolina has until the end of February to stop selling competing products to her former clients and to return confidential client information to Allstate. A federal judge on Monday finalized an injunction and …
Title Insurer to Pay New York $1 Million Penalty Over 2019 Data Breach
The New York State Department of Financial Services (DFS) announced that First American Title Insurance Co. will pay a $1 million penalty to New York State for violations of DFS’s cybersecurity regulation stemming from a large-scale cybersecurity breach in May …
Probitas Ready to Launch Lloyd’s Special Purpose Arrangement for 2024 Year of Account
Lloyd’s syndicate Probitas 1492 announced that Lloyd’s has given formal approval for its special purpose arrangement (SPA), which will begin underwriting for the 2024 year of account. The SPA, called “AdA SPA 2024,” aims to develop a diverse portfolio of …
3M, DuPont Defeat Massive Class Action Over Forever Chemicals
A U.S. appeals court on Monday handed 3M, Corteva Inc subsidiary E.I. du Pont de Nemours and Co and other manufacturers of toxic so-called “forever chemicals” a big win in their fight against legal liability for the substances, rejecting a …
Maui Wildfire Survivors Camp Pushing Mayor to Convert Vacation Rentals into Housing
A group of Lahaina wildfire survivors is vowing to camp on a popular resort beach until the mayor uses his emergency powers to shut down unpermitted vacation rentals and make the properties available for residents in desperate need of housing. …
California Can Share Gun Owners’ Personal Information With Researchers, Court Rules
A state appeals court ruled that California can continue providing personal information of gun owners to researchers to study gun violence, reversing last year`s decision by a lower court judge who said such data sharing violates privacy rights. In 2021, …
$1.3 Billion Lottery Winner Sues for $100K Damages Over Identity Disclosure by Mom
A man who won one of the largest lottery payments in U.S. history has filed a federal lawsuit against the mother of his child in an attempt to keep his identity concealed. The man won a $1.35 billion Mega Millions …
Funeral Home Owners Where Decomposing Bodies Found Returned to Colorado
The owners of a defunct Colorado funeral home where 190 sets of decomposing human remains were found have been returned to the state to face hundreds of felony charges. Carie Hallford appeared in District Court in Colorado Springs via video …
Marsh & McLennan Finalizes Delisting From London Stock Exchange
Marsh & McLennan Companies Inc. has delisted and canceled trading from the London Stock Exchange, further to its announcement made on Oct. 27, 2023. The delisting was finalized at 8:00 a.m. (GMT) on Nov. 27, 2023. The company continues to …
Allianz and Dutch Development Bank Back $1.1 Billion Sustainable Loans Fund
Allianz Global Investors and Dutch development bank FMO have agreed one of the largest “blended finance” funds on record, raising $1.1 billion to invest in loans that help emerging and frontier countries meet sustainable development targets. The fund is the …
US Warns of Growing Threats to Ships Sailing Through Red Sea
A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. On Nov. 19, Houthis seized of …