INSURANCE NEWS
Appeals Court Revives Roundup Weedkiller Cancer Lawsuit
A federal appeals court on Tuesday revived a lawsuit by a Georgia man claiming Bayer AG’s Roundup weedkiller caused his cancer, the latest in a string of legal defeats for the company as it seeks to avoid potentially billions of …
BevCap Buys Dealer Risk, Expanding Captive Management Services
BevCap Management, an alternative risk and captive management firm, has acquired Florida-based Dealer Risk Services, a group captive insurance program. BevCap, which manages BevCap Captive Group, called it a vertical integration that will allow the firm to expand its platform. …
People: Fenderson to Kinetic, NCDOI Deputy Osborne to Academia
Kinetic Names Fenderson Regional VP Kinetic, a maker of wearable technology for industrial worker safety, has named Troy Fenderson of North Carolina regional vice president. Fenderson, who lives in Mooresville, North Carolina, will oversee insurance distribution, business development and broker …
Court Orders 4 Ex-Tepco Execs to Pay $95B Damages Over Fukushima Disaster
The Tokyo district court on Wednesday ordered four former executives of Tokyo Electric Power Company (Tepco) to pay 13 trillion yen ($95 billion) in damages to the operator of the wrecked Fukushima Dai-ichi nuclear power plant, the plaintiff’s lawyers said. …
Woman Killed When Van Accelerates into Runners at North Carolina Race
A woman was killed and at least three people were injured when a van ferrying people to a runners’ race in North Carolina crashed into a crowd, authorities said. The N.C. State Highway Patrol said Friday that race participants and …
The Global Urgency of Building the Carbon Removal Industry
“If you build it, they will come.” This famous, but paraphrased, quote from the film “Field of Dreams” is apropos of the fledging carbon removal industry. The demand is there, but supply needs to be built. The carbon removal industry …
Insurance Industry Support of Carbon Removal Needed in Drive to Net Zero
Ditching investments in fossil fuel businesses—and denying them insurance—aren’t the only ways for the insurance industry to participate in the drive to net zero greenhouse gas emissions, according to representatives of global insurers and reinsurers. Even those companies that are …
Twitter Sues to Force Musk to Consummate $44 Billion Buyout
Twitter Inc. sued billionaire Elon Musk over his abandoned $44 billion takeover bid, asking a judge to force him to follow through on his offer. Lawyers for Twitter told a Delaware judge that the world’s richest man failed to honor …
Broker NFP Forms Captive Manager in Canada
Insurance broker NFP has established a captive management firm in Canada following Alberta’s establishment of a regime for captive insurance for organizations wanting to self-insure against risk instead of buying insurance from a third party. The Captive Insurance Companies Act …
Russia Pauses Seizure of Assets of Western Firms Exiting the Country
Note: This content was produced in Russia where the law, where the law restricts coverage of Russian military operations in Ukraine. Moscow’s plan to implement a new law enabling authorities to seize the assets of Western firms leaving the country …
Hong Kong Securities Chief Alder Named Chair of Financial Conduct Authority
The UK Treasury has announced the appointment of Ashley Alder as the new chair of the Financial Conduct Authority (FCA). Alder is currently chief executive officer of the Securities and Futures Commission (SFC) in Hong Kong, a role he has …
Agent’s Plea That Landscaping Includes Tree Removal Fails
A New Jersey insurance agency has failed to convince two courts that a landscape gardening insurance policy for a long-time client was ambiguous enough to also cover tree removal. The agency also struck out with its argument that tree removal …