INSURANCE NEWS
New York Governor Hochul Proposes Limousine Safety Bill
New York Governor Kathy Hochul announced a legislative proposal to improve safety within the limousine industry. The bill includes provisions requiring that stretch limousines be equipped with enhanced safety features and prohibiting the operation of a stretch limousine that is …
Georgia Fires Kill 3, Destroy Historic Home in Stone Mountain Park
A house fire in northeast Georgia that killed three people last week was found to be accidental in nature, linked to a clothes dryer that was running overnight. And a blaze that burned a 180-year-old, historic home in Stone Mountain …
EU Proposes to Ban Sale of Tankers to Russia to Curb Growth of Shadow Fleet
The European Commission is proposing to ban the sale of tankers for crude oil and petroleum products to Russia to prevent Moscow bypassing western sanctions on Russian oil with a shadow fleet of ships, a proposal by the Commission showed. …
Fifth Member of Catalytic Converter Theft Crew Pleads Guilty
A Springfield, Massachusetts man pleaded guilty Tuesday in federal court in Boston to his role in a regional organized theft crew that officials say stole catalytic converters from more than 490 vehicles as well as from bank automatic teller machines …
Heavy Rains, High Winds Bring Flooding, Damage to South Florida
FORT LAUDERDALE, Fla. (AP) — Why has it been raining so much in south Florida? Experts say the latest windy, rainy storm system seen this week has nothing to do with hurricane season. The storm system that formed over the …
Mississippi Loosens Burn Ban After More Rain and Fewer Wildfires
JACKSON, Miss. (AP) — Recent rain has helped improve drought conditions enough for Mississippi Gov. Tate Reeves to partially lift a statewide burn ban. Reeves, the Mississippi Forestry Commission and the Mississippi Emergency Management Agency said the burn ban will …
J&J Settles First Talc Cases to Go to Trial After Failed Bankruptcies
Johnson & Johnson on Thursday said it has settled two lawsuits claiming its talc products caused cancer, the first such cases to go to trial since a federal court rejected the company’s plan to move its talc liabilities into bankruptcy …
Hyundai, Kia Must Face Insurers’ Lawsuits Over Vehicle Thefts
A U.S. judge rejected bids by Hyundai and Kia to dismiss litigation by several hundred insurers seeking to recoup more than $1 billion they claim to owe drivers whose vehicles were stolen or damaged in a social media-inspired theft spree. …
NBJ London Markets Rebranded as Verlingue London Markets; New Senior Execs Hired
Verlingue has launched Verlingue London Markets following the rebranding of specialist Lloyd’s and London market wholesale broker NBJ London Markets. The business also has made a number of senior hires to expand its access to markets and expertise for its …
Tankers, Newly Sanctioned by US, Supplied Russian Oil to India
Three oil tankers, newly sanctioned by Washington, regularly shipped Sokol crude from Russia’s Far East to Indian Oil Corp, the country’s top refiner, in recent months, according to shiptracking data from LSEG, Kpler and trade sources. The U.S. on Thursday …
Generali Keeps 2024 Goal as Profits Rise 30% Despite Disaster Claims
Italy’s top insurer Generali stuck to 2024 targets on Thursday after posting a 29.6% rise in nine-month adjusted net profit despite rising claims from natural disasters which it said would also weigh on this quarter. The impact of extreme weather …
US Sanctions Maritime Companies, Vessels for Shipping Oil Above Russian Price Cap
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7’s price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine. The …