INSURANCE NEWS
Florida Art Museum Sues Former Director Over Forged Basquiat Paintings Scheme
ORLANDO, Fla. (AP) — A central Florida art museum which was raided last year by the FBI over an exhibit of what turned out to be forged Jean-Michel Basquiat paintings has sued its former executive director and others, claiming they …
‘Smart Window’ Firm to Pay Almost $5M for Illegal Dumping of Wastewater in Mississippi
JACKSON, Miss. (AP) — A California-based company will pay just under $5 million in fines for discharging wastewater into a publicly owned sewage treatment plant in Mississippi without obtaining a valid state permit, a federal judge ruled Tuesday. View Inc., …
Allstate Starts Q3 With $313M in Catastrophe Losses in July
Allstate Corp. said estimated catastrophe losses for the month of July were $313 million or $247 million, after-tax. July has 18 events, highlighted by widespread wind and hail storms, with estimated losses of about $349 million. These losses for July …
Orlando Debuts Self-Driving Shuttle to Whisk Passengers Around Downtown
There is going to be a new way to get around downtown Orlando, Florida, and it`s not going to require any human drivers. Starting later this month, an electric, self-driving shuttle will whisk passengers around a 1-mile (1.6 km) loop …
Buffalo Shooting Lawsuits Claim Social Media, Gun Firms, Parents Enabled Killer
YouTube, Reddit and a body armor manufacturer were among the businesses that helped enable the gunman who killed 10 Black people in a racist attack at a Buffalo, New York, supermarket, according to a pair of lawsuits announced Wednesday. The …
Allianz Aims to Raise $1.6 Billion for Global Private Credit Fund
Allianz Global Investors, the insurance company’s money management division, is pushing ahead with plans to raise at least 1.5 billion euros ($1.63 billion) for a new global private credit fund, a spokesperson said, as investors boost exposure to the asset …
Ex-Trump Administration Officials Target Corporate Diversity Efforts
Activision Blizzard Inc and Kellogg Co have joined a growing list of major U.S. companies to face claims from a group founded by former Trump administration officials that efforts to diversify their workforces amount to illegal discrimination. America First Legal …
Philadelphia Police Change Account of Shooting of Driver After Viewing Video
Police have changed their account of a fatal shooting by a Philadelphia officer earlier this week, acknowledging that the person was shot inside the car rather than outside and no longer saying that he fled a traffic stop and later …
Bacteria in Raw Shellfish Linked to 4 Deaths
The death of a Long Island resident has been linked to a bacteria found in raw shellfish or seawater that has also been blamed for two deaths in Connecticut, New York Gov. Kathy Hochul said Wednesday. The Vibrio vulnificus bacteria …
S&P Revises Outlooks for Munich Re and Swiss Re While Affirming ‘AA-‘ Ratings
S&P Global Ratings has revised its outlooks for Munich Re and Swiss Re, affirming both reinsurers’ “AA-” issuer credit and financial strength ratings. S&P revised Munich Re’s outlook to positive from stable on improving diversification, while Swiss Re’s outlook was …
India Braces for More Rain After Floods, Lightning Kill 2,000
Some regions of India are bracing for more torrential rain, raising the risk of further causalities after natural calamities such as floods and lightning killed 2,000 people during the current monsoon season. Rains have affected about 500,000 hectares (1.24 million …
Raging Wildfires Prompt Evacuation of Northern Canadian City, Yellowknife
Wildfires have forced an evacuation of Yellowknife, the capital of Canada’s Northwest Territories. Officials with the territorial government told residents in the highest-risk areas to evacuate immediately. Other residents have until 12 p.m. local time on Friday to leave the …