INSURANCE NEWS
Stellantis, GM Pay $363M in Fuel Economy Penalties
Chrysler parent Stellantis and General Motors paid a total of $363 million in civil penalties for failing to meet U.S. fuel economy requirements for prior model years, documents seen on Friday by Reuters show. The record-setting penalties include $235.5 million …
Reports Says NHTSA Fails to Meet Internal Timelines in Defect Probes
The U.S. auto safety regulator routinely fails to meet its internal timelines for completing auto safety defect investigations, a government report released on Thursday found, hindering its ability to quickly respond to severe safety risks. The Transportation Department’s Office of …
People Moves: Everest Insurance Names Chubb’s Browne Head of Int’l Corporate Strategy; Hub Hires Del Rio in Puerto Rico; Canopius Taps Coverys’ Moulton for MedMal
This edition of International People Moves details appointments at Everest Insurance, Hub International and Canopius. A summary of these new hires follows here. Everest Insurance Names Chubb’s Browne Head of International Corporate Strategy Everest Insurance, the insurance division of Everest …
Freshpet Board Accused in Suit by Activist Jana of Breaching Duty
Freshpet Inc.’s board members were sued by activist shareholder Jana Partners over claims they breached their fiduciary duty by changing the number of directors up for election and accelerating its annual shareholder meeting. Jana Partners, which has declared a proxy …
Wells Fargo Seeks to Settle ‘Banking While Black’ Mortgage Case
Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said …
Connecticut Lawmakers Vote to Allow Use of Deadly Force Against Bears
Connecticut lawmakers voted Friday to take steps to protect people from the state’s growing bear population. But they stopped far short of a bear hunt and restrictions on people unintentionally feeding the hungry animals. The legislation, which cleared the House …
3M Granted Delay in ‘Forever Chemicals’ Trial to Negotiate Settlement
The judge overseeing the 3M Co. “forever chemicals” case granted a trial delay the company requested so it can work out a settlement. The company on Sunday night asked the court to postpone its first federal trial over water pollution …
Kentucky Tobacco Crop Insurance Fraud Ring Results in Two More Guilty Pleas
A Kentucky farmer and his sister-in-law have pleaded guilty to a multi-year scheme to defraud the Federal Crop Insurance Corp. and companies the FCIC reinsures. ARMTech Insurance Services, now part of AgriSompo North America, paid out on some of the …
Washington Lawsuit Alleging Falsified Arrest Report Settled For $250K
A lawsuit filed by a Washington oyster farmer accusing a former county deputy of falsifying an arrest report and urging a person to lie during a domestic-violence investigation has been settled for $250, 000. Gerardo Rodarte, the owner of Samish …
Tokio Marine Kiln Sets Up Cyber & Enterprise Risk Division
Specialist insurer Tokio Marine Kiln (TMK) has established a standalone Cyber & Enterprise Risk division as part of its effort to expand its presence in the cyber market. Led by Laila Khudairi, the Cyber & Enterprise Risk division comprises cyber, …
2 Killed in Small Plane Crash at Airport in Mississippi
A small twin-engine aircraft crashed Saturday near hangars at Tupelo Regional Airport in northeastern Mississippi, killing two people, authorities said. The plane banked sharply after takeoff, witnesses told WCBI-TV, and came down beside the airport’s Army Aviation Support Facility. Video …
Man Behind 2021 Walmart Fires Along Gulf Coast Sentenced to 18 years
An Alabama federal judge has sentenced the man who admits being the leader of a scheme to set fires to Walmart stores along the Gulf Coast to 18 years in prison – double the recommended sentence. As part of a …