INSURANCE NEWS
American Financial Group Names Berding President
American Financial Group, Inc. said John B. Berding has been elected president of AFG, effective immediately. Berding will continue to serve as president of American Money Management Corporation (AMMC), AFG’s subsidiary providing investment management services to AFG, its insurance subsidiaries …
Miami Port Access Reopens After Boat Crashed into Ferry, Killing One
A man was killed early this week and cruise line arrivals were disrupted after a 30-foot boat hit a ferry near Miami, authorities said. Another man was hospitalized in serious condition after the boat hit the Fisher Island Ferry about …
Kentucky AG Accused of Seeking Donations from Company His Office is Investigating
Republican Attorney General Daniel Cameron directly solicited donations for his gubernatorial campaign from executives with a Kentucky drug treatment organization that his office began investigating last year, according to an attorney for the organization. The request for contributions occurred during …
Catholic Church in Florida Struck as Insurance Costs Soar Toward the Heavens
It seems that few are safe from soaring property insurance rates in Florida, not even those with strong connections to a higher authority. The Crux, a Catholic news outlet, reported that the Catholic Church’s Pensacola-Tallahassee Diocese has been unable to …
Ex-Audi Boss Becomes 1st VW Board Member Sentenced for Fraud in Diesel Scandal
Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a …
How the Insurance Universe Deals With Evolving Risks and Dispositions
Insurers have come a long way on climate change, but they have a long way to get where we need to be to deal with a more hazardous planet. That was the assessment from Washington Insurance Commissioner Mike Kreidler, a …
JPMorgan Chase $290M Settlement With Epstein Accusers Wins Preliminary Approval
A U.S. judge on Monday granted preliminary approval to JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. The approval …
Generali’s Plan to Shed $22B of Insurance Liabilities Complicated by Interest-Rate Surge
Assicurazioni Generali’s plans to shed up to 20 billion euros ($21.87 billion) of insurance liabilities are being hampered as a surge in interest rates has complicated talks with buyers, three people familiar with the matter said. The Italian insurer embarked …
No Sign of Threat From Hazardous Train That Plunged Into Montana River
Preliminary testing of water and air quality along a stretch of the Yellowstone River on Montana where train cars carrying hazardous materials fell into the waterway following a bridge collapse did not indicate any threat to the public, state and …
J&J’s $8.9 Billion Talc Settlement Faces Bankruptcy Test
Johnson & Johnson’s proposed $8.9 billion settlement of thousands of lawsuits alleging that its talc products cause cancer faces a crucial hurdle this week as a U.S. bankruptcy judge in New Jersey considers whether or not a J&J subsidiary may …
Pennsylvania Senate Votes to Expand Ban on Driver’s Use of Phones
Pennsylvania’s state Senate wants to expand a ban on texting while driving and approved legislation on Thursday that would increase the penalties for motorists who are handling their cell phones for almost any activity while driving. The bill, approved 37-11, …
Canada’s British Columbia Highway 99 Closed Due to Brush Fire
Canada’s British Columbia Highway 99 was closed in both directions on Monday due to a brush fire, the British Columbia Wildfire Services (BCWS) said in a post on Twitter. The brush fire broke out in southwest of Whyte Lake, approximately …