INSURANCE NEWS
Arkansas’ United Home Placed In Receivership
Arkansas’ United Home Insurance was placed in receivership by the Pulaski County Circuit Court on September 6. Arkansas Insurance Commissioner Alan McClain a was appointed receiver. United Home consented to the receivership for the purpose of its rehabilitation. The receivership …
FM Global Clients to Get Share of $350M ‘Resilience Credit’
Eligible commercial property insurance clients of FM Global will receive a share of what the insurer calls a “resilience credit” to be put toward climate mitigation solutions. Collectively worth $350 million, the initiative follows the allocation of a $300 million …
People Moves: Mosaic Builds Team of Underwriting Specialists in Canada; Everest Re Taps PartnerRe’s Schiattone as Global Head of Financial Risk
This edition of International People Moves details appointments at Mosaic and Everest Reinsurance. A summary of these new hires follows here. Mosaic Expands Team of Underwriting Specialists in Canada Mosaic Insurance has built out its team of underwriting specialists to …
Doctor Asks Court to Toss J&J Lawsuit Against Her Over Cancer Research
A medical researcher has asked a court to throw out a lawsuit that Johnson & Johnson filed against her over her 2019 study on the links between cosmetic talc products and cancer, saying that her research is sound and protected …
Florida Copter Pilot Heard Bangs Before Fatal Crash into Apartment Building
FORT LAUDERDALE, Fla. (AP) — A pilot told investigators he heard a loud bang before a Florida medical rescue helicopter caught fire in flight last month, leading to a crash that killed a paramedic and a woman on the ground, …
Judge Tosses Gun Group’s Challenge to Delaware Public Nuisance Law as Premature
The federal district court for Delaware has thrown out a suit by a gun rights group challenging a state law that allows the state’s attorney general to sue firearms companies. The law allows lawsuits by the attorney general against firearms …
Hawaii Volcano Kilauea Erupts After Nearly Two Months of Quiet
Kilauea, one of the most active volcanoes in the world, began erupting Sunday after a two-month pause, displaying glowing lava that is a safe distance from people and structures in a national park on the Big Island. The Hawaii Volcano …
Markets/Coverages: US Cyber Industry Loss Index Launched by Perils, CyberAcuView
A U.S.-focused Cyber Industry Loss Index has been launched by Zurich-based Perils and CyberAcuView, an independent U.S.-based organization formed by leading cyber insurers, to keep capital flowing in the cyber insurance market. The Cyber Industry Loss Index reports affirmative U.S. …
Central Massachusetts Experiencing Severe Flash Flooding
The central Massachusetts city of Leominster and other nearby communities are dealing with severe flash flooding from excessive rainfall. A state of emergency has been declared in Leominster, a city of about 43,000, due to what officials are calling life-threatening …
Extreme Heat Threatens Global Fuel Security
Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply. In addition to causing spikes in electricity demand as people …
Property Owners Win Key Ruling in Lawsuit Against State of Michigan Over 2020 Dam Failure
DETROIT (AP) – Property owners seeking to hold the state of Michigan responsible for the disastrous failure of a dam in 2020 have won a critical ruling from an appeals court. The court said claims of “inverse condemnation” – state-imposed …
Judge in $6 Billion 3M Settlement Issues Order to Stop Litigation Funding
A federal judge has barred attorneys and claimants involved in 3M’s $6 billion settlement with U.S. military servicemembers from any third-party litigation funding agreements. District Judge M. Casey Rodgers in the U.S. District Court for the Northern District of Florida …