INSURANCE NEWS
P&O Cruise Ship Crashes Into Oil Tanker, Injuring Passengers
A P&O cruise ship with thousands of passengers on board collided with an oil tanker off the coast of Palma de Mallorca in Spain on Sunday, injuring a small number of people. Videos posted to social media showed the Britannia, …
Yale Settles Lawsuit Alleging Discrimination Against Students With Mental Health Issues
Yale University and a student group announced Friday that they’ve reached a settlement in a federal lawsuit that accused the Ivy League school of discriminating against students with mental health disabilities, including pressuring them to withdraw. Under the agreement, Yale …
3M Agrees to Pay More Than $5.5 Billion Over Military Earplugs
3M Co. has tentatively agreed to pay more than $5.5 billion to resolve over 300,000 lawsuits claiming it sold the US military defective combat earplugs, people familiar with the deal said. The settlement would avert a potentially much larger liability …
University of South Carolina Student Fatally Shot Trying to Enter Wrong House
COLUMBIA, S.C. (AP) — A University of South Carolina student was shot and killed as he apparently tried to enter the wrong home on his off-campus street early on Saturday, police said. Nicholas Anthony Donofrio, 20, of Connecticut, was dead …
Home Insurance as a Work Benefit? Recoop Says It’s Bringing it to Florida and All States
Health insurance. Dental insurance. Accidental death and dismemberment. Why not homeowners insurance as an employee benefit? That’s exactly what Darren Wood is thinking. Wood is the founder and chief product officer at Recoop Disaster Insurance, which is now in 42 …
Drug Retailer Rite Aid Prepares to File for Bankruptcy Over Opioid Lawsuits -WSJ
Rite Aid Corp. is preparing to file for bankruptcy in coming weeks to address lawsuits the drugstore chain is facing over its alleged role in the sale of opioids, the Wall Street Journal reported on Friday, citing people familiar with …
Montana Brokerage Owner Admits to Defrauding Customers
Kileen Moria Hagadone, 57, owner of Rosebud County Insurance Inc., pleaded guilty to wire fraud and to aggravated identity theft. Hagadone faces a maximum of 20 years in prison, $250,000 fine and three years of supervised release on the wire …
NHTSA Proposing New Rules to Encourage Seat Belt Use by All Vehicle Passengers
The Department of Transportation is proposing new rules designed to encourage seat belt use by car and truck passengers, including those sitting in the back seat. The new rules proposed by the National Highway Traffic Safety Administration would require manufacturers …
People Moves: Breskin Joins Insurance Office of America’s Western Division
Insurance Office of America added Jeffrey Breskin to its western division team. Breskin has more than 35 years of experience in risk management, claims, safety, and workers’ compensation laws and regulations. He previously served as senior vice president, risk management …
Uber Raises Minimum Age for Most California Drivers to 25 over Insurance Costs
Uber raised the minimum age requirement for most of its new drivers in California to 25 on Thursday under rules the company said are necessary because of the rising costs of commercial auto insurance in the state. The new rule …
Washington Commissioner’s Orders Insurers to Extend Policyholders Protections for Wildfires
Washington state Insurance Commissioner Mike Kreidler issued an emergency order requiring all property/casualty insurers to provide additional protections for policyholders impacted by the Gray and Oregon Road fires. The emergency order was made possible by Gov. Jay Inslee’s emergency declaration. …
AM Best Revises Outlook to Negative for Iowa-Based Grinnell Mutual Group’s Credit Ratings
AM Best has revised the outlooks to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) for the members of Grinnell …