INSURANCE NEWS
Russia Is Likely to Quit Black Sea Grain Deal in July: Ukraine Envoy
Russia is 99.9% certain to quit a U.N.-brokered deal on the safe wartime passage of Black Sea grain next month because it no longer needs Ukrainian ports to export ammonia, a senior Ukrainian diplomat said. The United Nations and Turkey …
Insurer Capital Rule Changes in UK to Start by End of 2023, Finance Ministry Says
Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of this year. …
McKinsey Creates New Ethics Role After $641 Million Opioid Fallout
McKinsey & Co. is beefing up its ethics department after a series of high-profile controversies, including helping Purdue Pharma LP “turbocharge” opioid sales. The management consulting giant is hiring for a newly created position with its global “ethics allegations management …
Former Root CMO Ordered Detained for Contempt
Root Inc’s former chief marketing officer – accused in a lawsuit by the company of syphoning $10 million from it – was ordered detained for contempt of court, and he will need to find another way to pay his attorneys. …
Company Can’t Say Whether More Air-Bag Inflators Might Explode, Hurl Shrapnel
A company that makes air-bag inflators that have exploded in eight incidents involving two deaths and seven injuries argued Tuesday that it can’t say for sure whether its inflators might cause further such incidents. In a reply to the National …
Fired Amazon Labor Organizer in Alabama Reinstated After Filing Complaint, Union Says
A union organizer who was fired by Amazon was reinstated by the company after she filed a complaint with the National Labor Relations Board, according to the Retail, Wholesale and Department Store Union. The union had said earlier this month …
Structured Settlement Cash-out Left Impaired Man with Little. Transamerica Not Liable.
TransAmerica’s annuity and life insurance units have dodged a bullet and are not liable for their roles in a mentally challenged man giving away most all of his lifetime structured-settlement benefits, a federal appeals court decided. The U.S. 11th Circuit …
Colorado Supreme Court Strikes Law Allowing Child Sex Abuse Suits from Decades Past
Childhood sexual abuse victims in Colorado will no longer be able to file lawsuits over abuse that happened decades ago, as the state Supreme Court struck down a law Tuesday that gave victims a three-year window to sue over abuses …
Three Die After Brother Crashes Into Vehicle Driven by Sister in New York
A third person has died following a head-on crash between two siblings in a rural town in western New York, officials said. Dahlia J. Klink, 24, was pronounced dead Sunday night from injuries she suffered after her younger brother crashed …
Philadelphia’s I-95 to Open to Traffic This Weekend With Interim Fix: Governor
Temporary lanes on Interstate 95 will be open sometime this weekend, with permanent repairs to follow, Gov. Josh Shapiro said Tuesday, more than a week after a section of the interstate collapsed in Philadelphia. “Traffic will be flowing here on …
Young Plaintiffs’ Attorney Closes Montana Climate Change Trial with Call for Action
An attorney for 16 young plaintiffs urged a judge Tuesday to strike down as unconstitutional a Montana law that prohibits state agencies from considering the environmental effects when it weighs permits allowing the release of greenhouse gases. Attorney Nate Bellinger …
Court Orders Receivership for Friday Health Plans of Nevada
The 8th Judicial District Court of Nevada has ordered Friday Health Plans of Nevada into receivership and appointed Nevada Insurance Commissioner Scott Kipper as Receiver. Kipper initiated the petition for receivership on June 1 with the company’s consent due to …