INSURANCE NEWS
Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition
Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new report from Coalition. “Threat actors are forever looking for targets …
Worker Fatally Injured at Amazon Warehouse in Indiana
A worker died after being injured at an Amazon warehouse in Fort Wayne in an incident that closed the facility for the rest of the day, authorities said. Emergency medical crews were called to an Amazon Fulfillment Center about noon …
4 Killed in Michigan When SUV Crashes Into Highway Bridge Pier
An SUV slammed into a bridge pier along an interstate highway in Detroit, throwing four young men from the vehicle and killing them, state police said. The GMC Yukon was going fast when it hit the pier around 8 p.m. …
Damage from New Mexico Sinkhole Being Assessed
Authorities were assessing the damage after a sinkhole developed on a New Mexico bridge, resulting in the rescue of two pedestrians. Los Lunas police said the city’s Main Street bridge over the Rio Grande remained closed due to the sinkhole …
Wells Fargo to Pay $1 Billion in Class-Action Lawsuit
Wells Fargo & Co. agreed to pay $1 billion to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the opening of unauthorized customer accounts. The …
Tests Clear Recalled Philips Sleep Apnea Machines of Health Risks: Company
Dutch medical devices maker Philips said on Tuesday that independent tests have shown that the use of its respiratory devices involved in a major global recall did not cause health risks for patients. Philips said “rigorous testing” by external parties …
Cyber Attack Disrupts Philadelphia Inquirer
The Philadelphia Inquirer experienced the most significant disruption to its operations in 27 years due to what the newspaper calls a cyberattack. The company was working to restore print operations after a cyber incursion that prevented the printing of the …
Broadway Theaters, Insurer Agree to End COVID-19 Business Loss Claims
An owner of Broadway theaters and Pacific Indemnity Insurance Co. have voluntarily agreed to end their remaining litigation over COVID-19 coverage claims. Under the stipulation filed May 11, each party will bear its own attorneys’ fees and other costs. The …
Chemicals Company Agrees to $75K Settlement Over Hazardous Pollutants at Louisiana Plant
The U.S. Environmental Protection Agency (EPA) recently announced a settlement with Evonik Corporation that will reduce emissions of ethylene oxide and other hazardous air pollutants by 5.6 tons per year from a facility in Reserve, St. John the Baptist Parish, …
Massachusetts AG Reports $6.15M Settlement With CVS Over Workers’ Comp Drug Prices
Massachusetts Attorney General Andrea Joy Campbell’s office reports it has reached a $6.15 million settlement with CVS Pharmacy, Inc. to resolve allegations of overcharging for prescriptions for workers’ compensation patients. Officials allege that the pharmacy failed in some instances to …
Howden to Restructure Business Under Single Global Management Structure
Howden, the global insurance group, announces today that it will unify its structure under a single global executive, with insurance broking, reinsurance broking and underwriting reporting directly to CEO David Howden. The restructure will be effective Oct. 1, 2023 and …
Louisiana Dept. of Insurance: $92M in Payouts Collected in 2022
Louisiana Commissioner Jim Donelon announced the Louisiana Department of Insurance (LDI) helped consumers collect over $92.3 million in payouts in addition to the original amounts offered by insurance companies in 2022. The additional money is the result of consumers filing …