INSURANCE NEWS
Brown, Yale, Columbia Among Latest to Settle Financial-Aid Lawsuit
Brown, Yale and Columbia universities have agreed to pay a combined $62 million to resolve a lawsuit that accused them and others of favoring wealthy applicants, pushing total settlements in the case to $118 million. Lawyers for a proposed class …
People Moves: Coalition Nabs AIG’s Jones as Head of Global Claims
Robert Jones has joined Coalition as the head of global claims. He will step into the role Feb. 5. Jones previously spent 32 years at AIG where he most recently served as the executive vice president of financial lines, specialty …
Fox Can Challenge Smartmatic’s $2.7 Billion Defamation Claim Over 2020 Election
Fox Corp. can proceed with its claims that Smartmatic Corp.’s $2.7 billion defamation lawsuit wildly exaggerates the financial harm it suffered from broadcasts falsely accusing it of rigging the 2020 US election, a New York judge ruled. Rejecting the voting …
Lawsuit Alleges HIV-Positive Inmate in California Died After Being Denied Medication
A lawsuit filed by the family of a man who died after being held in a Northern California jail alleges he contracted a preventable viral infection there when its medical staff denied him critical HIV medication for two months. When …
Home Surveillance Video Leads to Arrests for Insurance Fraud in Alleged Staged Auto Collision
A home surveillance video camera helped lead investigators to five Southern California residents for allegedly staging an auto collision to collect an insurance payout. Each defendant has been charged with one felony count of insurance fraud after an investigation by …
Sandy Hook Denier Alex Jones Eyes Settlement With Families, Bankruptcy Exit
March Sandy Hook conspiracy theorist Alex Jones could exit Chapter 11 bankruptcy by late March or early April, his lawyer said on Wednesday after a judge decided families whom he owes $1.5 billion for lying about the 2012 school shooting …
School Crossing Guard Beats City’s Bid to Stop Her Workers ‘ Compensation Benefits
The Virginia city of Chesapeake has lost its bid to deny workers’ compensation medical benefits to a school crossing guard who injured her wrist when she fell while keeping her eyes on children around her crosswalk The city argued that …
Wall Street Stock-Lending Platform Crashes in Ransomware Attack
The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial-technology firm that processes trillions of dollars of securities-lending transactions every month. The company, partly owned by some …
Record Underwriting Income Highlights W.R. Berkley Q4 Results
Fourth quarter net income at W.R. Berkley Corp. increased 4% compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an 8.2% increase. The Greenwich, Connecticut-based commercial insurer finished …
The Hartford to Discontinue Writing New Homeowners Policies in California
The Hartford confirmed this week it will discontinue writing new homeowners policies in California. The carrier reportedly has less than 1% of the state’s homeowners market. The Hartford issued the following statement follwing a request for comment for this article: …
Rice University Allocates $33M to Settle Antitrust Lawsuit Over Financial Aid Scheme
Rice University has set aside $33.75 million to settle an antitrust lawsuit filed against 17 prestigious private universities across the country accused of illegally running a scheme that limited the amount of financial aid given to students, according to the …
People Moves: Jewelers Mutual Makes Leadership Hires
Jewelers Mutual Group, headquartered in Neenah, Wis., hired two new leadership team members. Nick Tenekedes is now senior vice president of digital solutions. Tenekedes joins Jewelers Mutual with over 15 years of experience. Most recently, Tenekedes was the vice president, …