INSURANCE NEWS
New York State Distributes $190M in Opioid Settlement Funds
Governor Kathy Hochul announced that New York has made available approximately $192.8 million provided in the first year of the opioid settlement agreements to support a variety of prevention, treatment, harm reduction, and recovery initiatives to help New Yorkers affected …
Actor Robert De Niro Tells Jury That Ex-Assistant’s Lawsuit Is ‘Nonsense’
Robert De Niro testified Monday in New York City at a trial resulting from a former personal assistant’s lawsuit accusing the actor of being an abusive boss. De Niro, who at times appeared grouchy, restrained himself from erupting at the …
People Moves: Markel Hires Senior Leaders for Casualty, Professional, Financial Risk Teams in Australia; BHSI Promotes Regan to Head of Casualty, Ireland
This edition of International People Moves details appointments at Markel in Australia and Berkshire Hathaway Specialty Insurance (BHSI). A summary of these new hires follows here. Markel Hires Senior Leaders in Australia for Casualty, Professional, Financial Risk Teams Markel, the …
Florida Senator Raising Eyebrows with Pitch for Investment in New Insurance Company
Florida state Sen. Joe Gruters, R-Sarasota, has sparked some controversy by pitching investment opportunities in a startup property insurance company in Florida. This may be a good time for a new business venture by an insurer – with higher rates …
Delivery Worker’s PTSD Claim Against Five Guys and Maintenance Firm to Go to Jury
A food delivery worker who encountered two weapon-wielding maintenance workers surprised by his presence in a Five Guys hamburger eatery can bring negligence claims against the restaurant and the maintenance company over his mental trauma. The federal district court for …
Alliance of 40 Countries to Vow Not to Pay Ransom to Cybercriminals
Forty countries in a U.S.-led alliance plan to sign a pledge never to pay ransom to cybercriminals and to work toward eliminating the hackers’ funding mechanism, a senior White House official said on Tuesday. The International Counter Ransomware Initiative comes …
Tech Update: AXA XL Launches Solution to Evaluate and Manage Water Risks
AXA XL Risk Consulting announced the launch of its Water Impact and Sustainability Evaluation (WISE) tool – a remote, customizable solution which helps risk managers to understand, evaluate and act on water risks. Amid a changing climate, water risks affect …
UK Braces for Storm Ciaran With London on Alert for Hurricane Strength Wind Gusts
The UK is bracing for a second major storm in two weeks with hurricane-strength wind gusts and rain potentially disrupting travel and causing damage to buildings. Storm Ciaran will hammer southern parts of England and Wales — including London — …
Bogus Claims Threaten to Taint Lejeune Payouts to Veterans
The government plan to pay billions of dollars to victims of toxic water at Camp Lejeune has unleashed a wave of fraudulent claims that threatens to disrupt or taint what could be one of the largest-ever mass tort cases. Mikal …
Deadly Explosion off Nigeria Points to Threat From Aging Oil Ships Around the World
OKITIPUPA, Nigeria (AP) – It was the dead of night when the ship caught fire, Patrick Aganyebi remembers, but the flames made it seem as bright as day. The explosion that night woke him and knocked him to the floor. …
SEC Sues SolarWinds for Concealing Cyber Risks Before Massive Hack
The U.S. Securities and Exchange Commission on Monday sued software company SolarWinds Corp. and its top information security executive, saying they defrauded investors by hiding cybersecurity weaknesses during a massive hack targeting the U.S. government. The SEC lawsuit in Manhattan …
Poultry Producers Ask Judge to Dismiss Ruling That They Polluted an Oklahoma Watershed
A group of poultry producers, including the world’s largest, have asked a federal judge to dismiss his ruling that they polluted an Oklahoma watershed. Arkansas-based Tyson Foods, Minnesota-based Cargill Inc. and the others say in a motion filed Thursday that …