INSURANCE NEWS
Reinsurance Rates to Rise in 2024, Soften in 2025: Fitch
Reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025, Fitch Ratings analyst Robert Mazzuoli told Reuters on Thursday. Reinsurers – who insure insurers …
Lloyd’s in Talks With UN Over New Black Sea Grain Insurance Cover: CEO Neal
Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday. NATO member Turkey is …
Hong Kong Sees Heaviest Rainfall on Record; Insurance Claims Could Exceed $100M
Hong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing through subway stations, bringing much of the city to a standstill and forcing the stock market to scrap trading on …
People Moves: Fato to Assume Newly Created Vice Chair Role at AIG; Johnson Joins Insurance Quantified as Strategic Advisor
Fato to Assume Newly Created Vice Chair Role at AIG Lucy Fato, executive vice president, general counsel and global head of communications and government affairs at American International Group (AIG), will transition to the newly created role of vice chair …
Walgreens to Pay $44 Million to Settle Theranos Fraud Claims
Walgreens Boots Alliance Inc. has agreed to pay $44 million to settle class action claims by consumers who received flawed blood tests in Arizona and California through the pharmacy chain’s partnership with Theranos Inc. The proposed settlement, which needs court …
Takeaways from Our Conversation on Reps & Warranties in a Changing Cannabis Market
Go back just a few years to 2019-2020, when cannabis stocks started to really hit the market in the United States and Canada. Everyone was jumping in. It was the green rush, but in retrospect, a few of those public …
Maui Wildfires Portend Unprecedented Shift in What It Means to Mitigate Risk
The Maui wildfires portend a grand and incalculable reality for every single one of us living on this spinning blue globe we call Earth. Understanding the risks associated with where we live, work and play may be reaching a tipping …
Judge’s Ruling That Trump Defamed Writer Sets Up Second Trial on Damages
Four months after a jury found that Donald Trump sexually abused and defamed advice columnist E. Jean Carroll, a federal judge ruled Wednesday that still more of the ex-president’s comments about her were libelous. The decision means that an upcoming …
Oregon Workers’ Comp Costs to Drop 11th-Straight Year
Oregon employers will pay on average less for workers’ compensation coverage, according to an update from the Oregon Department of Consumer and Business Services. The decline marks 11 years of average decreases in the pure premium rate – the base …
People Moves: Envoca Names Mabe to Board of Directors; JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager
JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager JM Wilson has promoted Kristin Bolhuis to assistant property & casualty manager in their Portage, Michigan office. Bolhuis’ responsibilities include assisting the director of property & casualty with the day-to-day …
Hooters of Louisiana to Settle $650K Race and Retaliation Lawsuit
Hooters of Louisiana, LLC and associated companies (“Hooters”) have agreed to pay former African American employees $650,000 to settle a race and retaliation lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the agency announced. According to the EEOC’s …
Wet Roads, Speed Factored Into Car Crashing Into Texas Denny’s, Police Chief Says
ROSENBERG, Texas (AP) – A Texas police chief said Tuesday that wet roads and speed factored into the driver of an SUV plowing into a Denny`s restaurant outside Houston on Labor Day, injuring nearly two dozen people inside. No charges …