INSURANCE NEWS
Supreme Court Spurns Dispute Over Monsanto Class-Action Settlement
The U.S. Supreme Court on Monday declined to hear a dispute involving a lawsuit against Bayer AG’s Monsanto Co that could rein in a common form of settlement in class action cases under which money is awarded to charities and …
Clients Buy Higher Limits as Q1 Cyber Increases Follow Moderation Trend: Marsh
For the fifth straight quarter, pricing increases for cyber insurance continued to fall at the start of 2023. According to a new U.S. Cyber Purchasing Trends report from broker Marsh, prices were up 11% in first quarter 2023 compared to …
Ohio Opioid Settlement Panel’s Records Must Be Public, Court Says
The state panel that will decide how Ohio distributes more than half of the money it will receive from a nationwide settlement regarding the opioid addiction crisis must make its records publicly available, the state Supreme Court ruled. In their …
Tornado Hit South Texas Near The Gulf Coast, Damaging Dozens of Homes
One person was killed and a curfew was imposed after a powerful tornado tore through a community near the southern tip of Texas before dawn Saturday, damaging dozens of residences and knocking down power lines, authorities said. At least 10 …
Youth Lawsuit Challenging Montana’s Pro-Fossil Fuel Policies Is Heading to Trial
A Montana judge said a climate change lawsuit from young people challenging the state’s pro-fossil fuel policies will proceed to trial despite efforts by the state to derail the case. The upcoming trial in Helena would be the first of …
5.5M Earthquake, Large Aftershock Hit Northern
Earthquakes have rattled a large area of Northern California this week, but only minor damage was immediately reported. A magnitude 5.5 quake centered in the Sierra Nevada’s Lake Almanor resort region struck at 4:19 p.m. Thursday and a magnitude 5.2 …
Washington Is Determined to Govern AI, but How?
U.S. lawmakers are grappling with what guardrails to put around burgeoning artificial intelligence, but months after ChatGPT got Washington’s attention, consensus is far from certain. Interviews with a U.S. senator, congressional staffers, AI companies and interest groups show there are …
AXA’s Capital Buffers Beat Expectations as Q1 Sales Rise
AXA, Europe’s second-biggest insurance company, posted a better-than-expected key capital buffer measure in the first quarter, reassuring investors on its capacity to generate cash as it navigates a higher interest rate environment. The group’s solvency II ratio – a measure …
Armbruster Named Alliant VP for Benefits Group
Alliant Insurance Services, one of the largest U.S. insurance brokerages, has named Gerry Armbruster vice president of its employee benefits group. Armbruster, based in Nashville, was previously an assistant vice president at a health care organization, Alliant said in a …
Florida Jury Finds McDonald’s Liable for Hot McNugget that Burned Girl’s Leg
McDonald’s and a franchise holder are at fault after a hot Chicken McNugget from a Happy Meal fell on a little girl’s leg and caused second-degree burns, a jury in South Florida found in a case reminiscent of the famous …
Texas Mutual Awards $1M in Grants to 10 Colleges
Texas Mutual Insurance Company announced it is awarding $1 million in grants to 10 colleges across Texas to fund workplace safety courses for business owners, employees and the general public. Texas Mutual began its commitment to supporting safety education at …
Posing as Islamists, Russian Hackers Take Aim at Sweden
Since February, a mysterious hacker group calling itself Anonymous Sudan has targeted dozens of Swedish airports, hospitals and banks with distributed denial-of-service attacks, ostensibly in response to the burning of a Koran in front of the Turkish embassy in Stockholm …