INSURANCE NEWS

New Home Construction Surges by Most in 3 Decades in May

Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after getting clobbered by Federal Reserve interest …
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NC Supreme Court: Injured Trucker Due Benefits, Despite Tardy Claim

An injured truck driver described as “pretty tough” by her doctor after she finally sought treatment more than a year after a back injury was eligible for total temporary disability benefits despite the late notice, the North Carolina Supreme Court …
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OSHA Cites Jacksonville Center for ‘Shocking’ Amounts of Violence on Workers

Federal safety regulators have fined a Jacksonville behavioral hospital more than $15,000 over what they called “shocking” findings, including almost 200 violent attacks on workers in one year. Workers at Wekiva Springs Hospital were repeatedly assaulted, bitten, punched, kicked and …
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Ken Griffin Pushed to Testify in Ron Perelman’s $410 Million Art Fight

What do billionaire Ken Griffin, a Hamptons fire and Cy Twombly’s painting Untitled (1971) have in common? The answer: Ron Perelman’s three-year dispute with a group of insurers about a portion of his extensive art collection. Perelman, 80, submitted some …
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Weekend Mass Shootings Leave 6 People Dead and Dozens Injured Across the US

Mass shootings and violence across the U.S. killed at least six people this weekend, including a Pennsylvania state trooper, and wounded dozens of people. Multiple people with guns fired shots at a holiday crowd in Missouri and bullets flew among …
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Multiple Tornadoes in Mississippi Kill One, Leave Severe Damage

Multiple tornadoes swept through Mississippi over the weekend, killing one and injuring nearly two dozen, officials said. State emergency workers were still working with counties Monday morning to assess the damage from storms in which high temperatures and hail in …
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Verdict in Oregon Wildfires Case Highlights Risks Utilities Face Amid Climate Change

A jury verdict that found an Oregon power company liable for devastating wildfires – and potentially billions of dollars in damages – is highlighting the legal and financial risks utilities take if they fail to take proper precautions in a …
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US Slips in Supply-Chain Ranks After Child-Labor Violations

The US has joined a list of mostly emerging-market countries where ESG supply-chain risks are “high,” after the world’s richest economy failed to provide adequate protections for vulnerable populations including migrant children, according to a fresh study. The US saw …
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Gannett Sues Google, Alleges Online Ad Monopoly

Gannett Co Inc, the largest U.S. newspaper chain, on Tuesday sued Google, accusing the social media company of violating federal antitrust law by trying to monopolize the market for online advertising. The publisher of USA Today and more than 200 …
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Markets/Coverages: WTW Launches Property Rebuild Assessment Service, Powered by Kroll Valuation Platform

Insurance broker WTW has launched a new Property Rebuild Assessment Service, powered by Kroll’s Property Insurance Valuation Platform, to provide its clients with an accurate rebuild valuations report and advice. WTW will provide property rebuild adequacy assessments and online valuations, …
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People Moves: Liberty Specialty Mkts Taps AXA XL’s Prato as London President; Carpenter Appoints Howden’s Cacia as Italy CEO; 2 Key Broking, Analytics Roles Also Hired

This edition of International People Moves details appointments at Liberty Specialty Markets and Guy Carpenter. A summary of these new hires follows here. Liberty Specialty Markets Names AXA XL’s Prato as London President Liberty Specialty Markets (LSM), part of Liberty …
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Former Chair Ghosn Sues Nissan for $1B in Lebanon

Former Nissan chairman Carlos Ghosn has sued the company for more than $1 billion in a lawsuit filed to Lebanon’s public prosecutor last month, according to a copy of the lawsuit seen by Reuters. The lawsuit filed on May 18 …
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