INSURANCE NEWS
San Francisco Archdiocese Declares Bankruptcy Amid Hundreds of Sex Abuse Lawsuits
San Francisco’s Roman Catholic archdiocese filed for bankruptcy this week, saying the filing is necessary to manage more than 500 lawsuits alleging child sexual abuse by church officials. The Chapter 11 protection filing will stop all legal actions against the …
Munich Re Again Tops List of 50 Largest Reinsurers With Swiss Re at No. 2: AM Best
Munich Re holds onto the top spot in AM Best’s annual ranking of the top 50 global reinsurance groups in 2022, with Swiss Re coming in as the second-largest reinsurer — for the third year in a row. These two …
Climate Change Doubled Odds of Eastern Canada’s Extreme Wildfire Weather: Research
This summer’s wildfires in eastern Canada have raged so intensely that smoke from them darkened skies as far away as Portugal. From the outset, scientists said that Canada’s historic wildfire season bore the hallmarks of climate change. Now, a new …
More Than One-Third of Desks Globally Sit Empty All Week Long: Report
More than one-third of desks in offices around the globe are unoccupied all week, according to a new report, raising questions about how well workplaces are currently designed as companies struggle to get employees back into them. The report, from …
Insurers Raise Premiums for Black Sea Oil Tankers as Tensions Mount: Traders
Insurance companies have notified charterers of ships operating in Russia’s Black Sea ports of an increase in additional payments known as “war risk premiums,” four traders said. A war risk premium was added to the common insurance costs for tankers …
Small Businesses Give Record-High Ratings to Commercial Insurers: JD Power
Small businesses across the U.S. are increasingly satisfied with the products and services they receive from their commercial insurance providers. According to the 11th annual JD Power 2023 U.S. Small Commercial Insurance Study, overall customer satisfaction has reached an all-time …
Lawsuit Says Gannett Discriminates Against White Workers to Meet Diversity Goals
Gannett Co Inc., the largest U.S. newspaper publisher, is facing a lawsuit claiming its efforts to diversify newsrooms led to discrimination against white workers. The proposed class action was filed in Virginia federal court on Friday by five current and …
Deepfake Imposter Scams Are Driving a New Wave of Fraud
Computer-generated children’s voices so realistic they fool their own parents. Masks created with photos from social media that can penetrate a system protected by face ID. They sound like the stuff of science fiction, but these techniques are already available …
Virginia Judge Says Medical Malpractice Law Does Not Apply to Sexual Abuse Claims
Most of the claims of sexual abuse and other mistreatment made in a lawsuit by dozens of former patients of a Virginia children`s hospital can move forward, a judge has ruled, rejecting arguments that many of the allegations were time-limited …
Grant Extended to Fire-Harden Homes, Businesses Damaged by Oregon Wildfires
The Oregon Building Codes Division has partnered with counties on a grant to help homeowners and businesses rebuild after the 2020 and 2021 Oregon wildfires. People who own a home or business damaged or destroyed by the 2020 or 2021 …
Weather Service Confirms Five Tornadoes Hit New England Last Week
The National Weather Service confirmed that a tornado touched down in Connecticut last Friday, joining a spate of four other twisters detected Friday in New England, including three in Massachusetts and another in Rhode Island. The Connecticut tornado touched down …
Cause Still Unknown in Pennsylvania House Explosion That Killed 6
Three houses at the center of a recent explosion near Pittsburgh that killed six people will need to be torn down and 10 others are not currently inhabitable, county officials said over the weekend. The Aug. 12 blast in Plum …