INSURANCE NEWS
TDI Appoints Knight as State Fire Marshal
The Texas Department of Insurance (TDI) announced it has appointed Debra Knight as the new State Fire Marshal for Texas. Knight brings more than 30 years of experience in administrative and criminal law, as well as insurance and compliance analysis. …
Ex-Staffers Accuse Northwestern University of Failing to Address Toxic Coaching Environment in Lawsuit
CHICAGO (AP) – Three former members of Northwestern University`s baseball coaching staff filed a lawsuit against the school on Monday, saying they lost their jobs for trying to report bullying and derogatory abuse by the team`s head coach, who has …
Nebraska Police Testing Seized Dispensary Products for Illegally High THC Levels
LINCOLN, Neb. (AP) – Police are testing products seized from five Nebraska dispensaries to see if they contain illegally high levels of the compound THC, the Lincoln Journal Star reported Monday. Lincoln police received warrants after checks in January, February …
Umpire Hernandez Loses Again in Lawsuit Versus MLB
Umpire Ángel Hernández lost again in his racial discrimination lawsuit against Major League Baseball when a federal appeals court refused to reinstate his case on Tuesday. The 2nd Circuit U.S. Court of Appeals upheld a 2021 District Court decision that …
Demex Raises $5M to Bolster Its Stop-Loss Reinsurance Solutions for Secondary Perils
The Demex Group, the Washington, D.C.-based managing general agent (MGA) that offers stop-loss protection for secondary perils, announced it has raised $5 million from a syndicate of existing and new investors, led by Blue Bear Capital. Blue Bear Capital, a …
FedEx Faces Safety Issues as Driver Accidents, Insurance Costs Rise
FedEx Corp. is pressuring delivery contractors to improve safety after mounting accidents helped trigger a near-tripling of insurance costs over the decade. FedEx is requiring contractors that deliver packages on behalf of the company’s Ground unit to install vehicle cameras …
Florida DFS Provides Grants for Firefighters’ Cancer Decontamination Equipment
Florida firefighters are covered by a limited presumption if they are diagnosed with cancer, but some fire departments still need special cleaning systems to remove carcinogens from gear. To help with that, Florida’s chief financial officer and fire marshal announced …
Risk Strategies Acquires Bisnett Insurance in Oregon
Risk Strategies acquired Bisnett Insurance in West Linn, Oregon. Bisnett Insurance offers commercial lines, personal lines and employee benefits products. The firm has operations in the Pacific Northwest including Oregon, Arizona and Idaho. Bisnett’s serves a variety of industries, including …
New York City Pension Plans Seek to Dismiss Lawsuit Over Fossil Fuel Stakes
New York City pension funds filed a motion to dismiss a lawsuit filed in May that alleged the plans breached their fiduciary duties by selling billions of dollars of fossil fuel assets. The lawsuit was filed by plaintiffs including Americans …
German Cabinet Passes Landmark Bill Over Legal Cannabis Use
Germany’s cabinet passed a contentious bill on Wednesday to legalize recreational marijuana use and cultivation, one of the most liberal cannabis laws in Europe that could potentially provide further momentum for a similar worldwide trend. The legislation, which still has …
Six Former Mississippi Law Officers Plead Guilty in Torturing of Two Men
BRANDON, Miss. (AP) — Six white former Mississippi law officers pleaded guilty on Monday to state charges for torturing two Black men in a racist assault. All six had recently admitted their guilt in a connected federal civil rights case. …
Legacy Acquistion Specialist Monument Re Explores Strategic Options: Sources
Monument Re, a buyer of European life insurance portfolios, is exploring strategic options after reporting a drop in its capital ratios last year, people familiar with the matter told Reuters. Citigroup and Fenchurch Advisory are working with the company and …