INSURANCE NEWS
Colombia Declares National Disaster as Wildfires Spread Through Parched Forests
Colombia declared a national disaster as wildfires spread through drought-hit forests and filled the capital, Bogota, with smoke. Environmental authorities reported 31 separate blazes on Thursday, after months of hot, dry weather caused by the El Nino weather phenomenon. Some …
AM Best Downgrades Credit Ratings of Iowa’s Pharmacists Mutual
AM Best announced it has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings to “a-” (Excellent) from “a” (Excellent) of Pharmacists Mutual Insurance Company (PMIC) and its wholly owned reinsured subsidiary, …
Australia Braces for More Wild Weather in Wake of Ex-Tropical Cyclone Kirrily
Ex-Tropical Cyclone Kirrily has uprooted trees and felled powerlines in Australia’s Queensland state, leaving tens of thousands without electricity or phone service as the state braces for further wild weather into the weekend. The storm has weakened to a tropical …
Biden Set to Halt Review of LNG Export Approvals on Friday
The Biden administration intends to announce its strategy on Friday for beefing up environmental scrutiny of applications to export natural gas, according to people familiar with the matter. President Joe Biden will order the Energy Department to halt reviews of …
OSHA: Ohio Food Warehouse Exposed Workers to Ergonomic Hazards
Federal inspectors examining injury and illness records at a Fairfield food services warehouse found workers suffered severe injuries at nearly four times the average rate for their industry, with a high percentage of these injuries categorized as ergonomic musculoskeletal disorders. …
Several Ukrainian State-Run Bodies Report ‘Large-Scale’ Cyber Attacks
Several major Ukrainian state organizations on Thursday reported cyber attacks on their systems, in the latest wave that a source close to the government blamed on Russian intelligence. Ukraine’s state-run energy company Naftogaz said one of the data centers had …
Vale, BHP Ordered to Pay $9.7 Billion for 2015 Brazilian Dam Disaster
Vale SA, BHP Group and their Samarco iron ore venture must pay 47.6 billion reais ($9.7 billion) in compensation for damages caused in a 2015 tailings dam disaster in Brazil, a judge ruled. The decision allows for the companies to …
Houston ‘Hire A Dick’ Attorney Faces Another Six Figure Sanctions Order
For the second time in three months, Houston plaintiffs’ attorney Eric B. Dick has been ordered to reimburse an insurer more than $100,000 for filing a “frivolous, groundless” lawsuit made “solely for the purpose of harassment.” Galveston County District Court …
NCCI President and CEO Donnell to Retire Early Next Year
The National Council on Compensation Insurance (NCCI) said President and Chief Executive Officer Bill Donnell plans to retire in February 2025 after about 10 years with the organization. “It’s been such a privilege to lead this organization and this amazing …
People Moves: XPT Hires Binding and Brokerage Team; Integris Promotes Cronin
XPT Specialty Names Binding and Brokerage Team XPT Specialty, headquartered in New York, N.Y., hired a production and underwriting team to serve Middle Atlantic and Northeast clients. The wholesale broker’s new team is led by Gregg Guerreiro, executive vice president …
Fate of Most Remaining Zantac Lawsuits Weighed by Delaware Judge
GSK, Pfizer and other pharmaceutical companies are urging a judge in Delaware this week to find that evidence plaintiffs’ lawyers want to use in about 72,000 lawsuits claiming that the discontinued heartburn drug Zantac caused cancer is not supported by …
Study: Manmade Warming Increasing Drought in Western U.S.
Manmade warming has increased the prevalence and severity of concurrent drought and heat events, also termed hot droughts, across Western North America in the 20th-21st century, a new report shows. The authors of the report developed the Western North American …