INSURANCE NEWS
SiriusPoint Completes $1.3B Reinsurance Loss Portfolio Transfer With Compre
SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is the second LPT the companies have partnered on. Compre assumed …
Maryland Begins Sales of Recreational Marijuana
Maryland is becoming the latest state to legally sell recreational marijuana, as businesses aim to tap into July Fourth festivities to kick off sales. About 100 stores already licensed to sell cannabis for medicinal purposes were able to begin selling …
Audit Finds Connecticut State Police Falsified Traffic Stop Data
Hundreds of Connecticut state police troopers falsified information on at least 26,000 traffic stops from 2014 to 2021, skewing reports on the race and ethnicity of pulled-over motorists, according to an audit released Wednesday. Data analysts with the University of …
North Carolina Roller Coaster Shut Down After Crack Found in Support Beam
A North Carolina amusement park closed one of its roller coasters Friday after a crack was found on a support beam. According to news reports, Carowinds shut down Fury 325. The park’s website advertises the ride as the “tallest, fastest, …
Atlanta Police Motorcycles Burned in Arson Attack
Atlanta Police Department motorcycles were damaged in an intentional fire caused by devices set inside a training facility early Saturday, officials said. The Atlanta Fire and Rescue Department responded to reports of a multi-vehicle fire around 2:20 a.m. and found …
Russia’s Aging, Dark Fleet of Oil Tankers Gets Infusion of Newer Ships
An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels. Shortly after President Vladimir Putin’s invasion of Ukraine early last year, hundreds …
Fusion Specialty Europe Launches Branch in Madrid, Led by DUAL’s Cibin
Fusion Specialty Europe announces the launch of its Southern Europe branch in Madrid, and the appointment of Filippo Cibin as partner, effective immediately. Cibin will lead the expansion of Fusion into Southern European, as part of its continued growth strategy …
Wind Turbines That Shake and Break Cost Their Maker Billions
Wind turbines make money when they spin. But when they shake, it can cost billions. Siemens Energy AG is struggling to contain the fallout after discovering a main piece on the frame of its wind turbine can move or twist …
More Than 17 Million Properties Face Substantial Flood Risk: Study
More than half of the U.S. population resides in a county that is likely to experience stormwater system failure due to flooding from heavy rainfall events, according to a new report published by First Street Foundation. Another 17.7 million properties …
Supreme Court to Consider Scope of Workplace Bias Law
The U.S. Supreme Court on Friday agreed to decide whether workers can bring discrimination lawsuits based on unwanted workplace transfers that were allegedly motivated by bias, an issue that can make or break many cases. The justices took up a …
BNSF Railway Wins New Trial in $228M Biometric Ccase
A U.S. judge on Friday ordered a new trial on damages against BNSF Railway in a privacy class action, in a ruling that wiped out an award of $228 million to truck drivers who accused the freight railway giant of …
Travelers Vows Changes to Golf Course After PGA Tournament’s Low Scores
Changes will be made to the TPC River Highlands after record low scoring during the recent PGA Tour’s Travelers Championship, tournament officials said. Andy Bessette, Travelers’ executive vice president and chief administrative officer, told The Associated Press that officials at …