INSURANCE NEWS
China Bars Executive at US Firm Kroll From Leaving Mainland: WSJ
China blocked a senior executive at US risk advisory firm Kroll from leaving the mainland, the Wall Street Journal reported, in the latest case of authorities imposing exit bans on the employees of foreign companies. Michael Chan, a Hong Kong-based …
SMBC Aviation Receives Cash Insurance Settlement Over Jets Stranded in Russia
Ireland-based aircraft lessor SMBC Aviation Capital on Monday said it had received a cash insurance settlement of $710 million for its jets previously leased to Russia’s state-owned airline Aeroflot. The lessor under Japan’s Sumitomo Mitsui Financial Group said the settlement …
McDonald’s, Wendy’s Defeat Lawsuit Over Size of Burgers
McDonald’s and Wendy’s have defeated a lawsuit accusing them of deceiving hungry diners by exaggerating the size of their burgers. In a decision on Saturday, U.S. District Judge Hector Gonzalez in Brooklyn found no proof that the fast-food chains delivered …
Appeals Court Blocks Venture Capital Fund’s Grant Program for Black Women
A federal appeals court on Saturday blocked a venture capital fund from moving forward with a program that awards funding to businesses run by Black women in a case by the anti-affirmative action activist behind the successful U.S. Supreme Court …
Microsoft CEO Says Tech Giants Battling for Content to Build AI
Microsoft chief executive Satya Nadella said Monday tech giants were competing for vast troves of content needed to train artificial intelligence, and complained Google was locking up content with expensive and exclusive deals with publishers. Testifying in a landmark U.S. …
Progressive Drops Some Agents, Non-Renews 100,000 HO and DP Policies in Florida
Almost two years after Progressive Insurance announced it would stop renewing some homeowners policies in Florida, Flo and crew have dropped another 100,000 HO and landlord policies in the state. The insurance giant and Florida regulators said Progressive had struck …
Pennsylvania Borough Settles Lawsuits Over Shooting at High School for $11M
An $11 million settlement has been reached in federal lawsuits over police gunfire outside a high school football game near Philadelphia in 2021 that killed an 8-year-old girl and wounded others, an attorney for the girl`s family said. Attorney Michael …
Lingering Drought and Wildfires Plague Texas, Threatening Water Supplies and Agriculture
A lingering drought affecting more than 80% of Texas is causing wildfires, hurting agriculture and drying up water supplies throughout the state. This year’s drought comes less than a year after Texas experienced one of its worst droughts on record …
Ohio Senate Passes Bill to Increase Compensation for Boy Scouts Abuse Victims
Ohio victims of child sexual abuse while in the Boy Scouts of America could see more compensation for the crimes committed against them under legislation passed by the state Senate last week in a unanimous vote and is expected to …
California Judge Rules Tesla Owners Must Arbitrate False Ad Claims Over Autopilot Feature- Ruling
A California federal judge has ruled that a group of people who own cars made by Tesla Inc TSLA.O must pursue claims that the company misled the public about its autopilot features in individual arbitration rather than court. The ruling …
FEMA Sets Up Free Legal Help for Florida Idalia Victims
The Federal Emergency Management Agency announced that free legal assistance is now available to help Hurricane Idalia victims in Florida with insurance claims, government benefits and other matters. For people in 16 Florida counties hit by the Aug. 30 storm …
NSM Buys Student Insurance Provider Envisage, Based in Florida
NSM Insurance Group, a global specialty insurance provider, has acquired Florida-based Envisage International, which writes health and travel insurance plans for international students and cultural exchange participants. NSM President Bill McKernan said the move was prompted in part by the …