INSURANCE NEWS
Funeral Home Owners Where Decomposing Bodies Found Returned to Colorado
The owners of a defunct Colorado funeral home where 190 sets of decomposing human remains were found have been returned to the state to face hundreds of felony charges. Carie Hallford appeared in District Court in Colorado Springs via video …
Marsh & McLennan Finalizes Delisting From London Stock Exchange
Marsh & McLennan Companies Inc. has delisted and canceled trading from the London Stock Exchange, further to its announcement made on Oct. 27, 2023. The delisting was finalized at 8:00 a.m. (GMT) on Nov. 27, 2023. The company continues to …
Allianz and Dutch Development Bank Back $1.1 Billion Sustainable Loans Fund
Allianz Global Investors and Dutch development bank FMO have agreed one of the largest “blended finance” funds on record, raising $1.1 billion to invest in loans that help emerging and frontier countries meet sustainable development targets. The fund is the …
US Warns of Growing Threats to Ships Sailing Through Red Sea
A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. On Nov. 19, Houthis seized of …
Markets/Coverages: Apollo to Launch Specialty Treaty Class of Business
Apollo, the London-based independent specialist insurer and reinsurer, announced it will launch a new specialty treaty class of business within the Reinsurance Division of Syndicate 1969, on Jan. 1, 2024. The new portfolio will focus on the niche classes of …
Indonesian Court Papers Reveal Chain of Events That Led to Cough Syrup Deaths
Indonesian court documents have revealed for the first time the chain of events that led to toxic ingredients being used in cough syrup that was among the products blamed for the deaths of more than 200 children in the country …
Tesla China Offers Insurance Subsidy on Some Models Bought Before Year-End
Tesla China is offering insurance subsidies for some types of Model 3 and Model y for purchases before the end of 2023, according to a statement on its official social media account on Tuesday. (Reporting by Albee Zhang and Brenda …
NCOIL Names New Officers at Annual Meeting
The National Council of Insurance Legislators (NCOIL) said it elected a new slate of officer at its Annual National Meeting. Texas Representative Tom Oliverson will serve as president; New York Assemblywoman Pamela Hunter was elected as vice president; Minnesota Senator …
US, Britain, Other Countries Ink Agreement to Make AI ‘Secure by Design’
The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior U.S. official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to …
Federal Cyber Insurance Backstop Is Warranted With Focus on Catastrophic Risk
Much more work and collaboration needs to be done but the U.S. Treasury has reached a “tentative conclusion” that a potential federal cyber insurance backstop will be focused on catastrophic cyber risk. “We will remain focused on the policy options …
Maine, Louisiana, Kentucky Most Injury-Prone States, Group Says
Maine, Louisiana and Kentucky were the most injury-prone states in 2018, while Hawaii, Maryland and Nevada have the lowest injury rates, according to data analyzed by a group of New York pain physicians. Maine saw 596 emergency department visits per …
Florida Hospital Alleges Juror Misconduct, Wants New Trial After Verdict in Maya Case
The Florida hospital at the center of the high-profile Maya Kowalski negligence case has asked for a new trial, alleging that the jury foreman improperly leaked information during the trial, which resulted in a $216 million verdict against the medical …