INSURANCE NEWS
Historic Louisiana hotel Damaged by Fire
ALEXANDRIA, La. (AP) – Central Louisiana’s historic Hotel Bentley was damaged Friday by a fire in which one person was believed to be injured. The fire, which damaged the building’s exterior on the north side, was concentrated in the lower …
Man Charged With Setting Fire to Minneapolis Mosques
MINNEAPOLIS (AP) – A man suspected of setting fires to Minneapolis mosques was indicted Thursday on federal charges of arson and damage to religious property while investigators look into a series of crimes targeting Muslims and Somali Americans. Jackie Rahm …
Russian Carmaker GAZ Files Third Lawsuit Against Volkswagen
Russian carmaker GAZ has filed a lawsuit worth 15.6 billion roubles ($200.5 million) against Volkswagen, court records show, adding to two others filed earlier this year. The lawsuit, details of which have not been published, was filed with the Nizhny …
An Oil Tanker Ablaze in South China Sea Is Indication of Global Problem
Off the coast of Malaysia, in one of the world’s busiest shipping channels, an explosion on board the aging oil tanker Pablo ripped off its deck like a sardine can and began a fire that sent dark plumes of smoke …
South Africa’s State-Owned Insurer Won’t Pay Claims for Grid Collapse
South Africa Special Risk Insurance Association told clients it won’t pay claims for damage related to a collapse of the national electricity grid, Business Day reported, citing a circular from the company. The announcement by the state-owned insurer comes less …
Two Workers at Michigan Plant Hurt After One Falls Into Lye
GRAND RAPIDS, Mich. (AP) – Two workers were being treated for chemical burns Friday after one fell into a vat at a Grand Rapids electroplating plant, authorities said. The Grand Rapids Fire Department was sent on a hazardous materials call …
Five Hurt After Fire at Houston-Area Petrochemical Plant
HOUSTON (AP) – Fire erupted at a petrochemical plant in the Houston area Friday, leaving five workers hospitalized and sending up a huge plume of smoke visible for miles. Emergency responders were called to help around 3 p.m. at the …
AI Pioneer Says its Threat to World May Be ‘More Urgent’ Than Climate Change
Artificial intelligence could pose a “more urgent” threat to humanity than climate change, AI pioneer Geoffrey Hinton told Reuters in an interview on Friday. Geoffrey Hinton, widely known as one of the “godfathers of AI,” recently announced he had quit …
SEC Issues Largest Ever Whistleblower Award of $279M
The U.S. Securities and Exchange Commission (SEC) has issued its largest ever award of nearly $279 million to a whistleblower whose information helped the regulator’s enforcement action, it said on Friday. The regulator did not disclose the case concerned in …
Warren Buffett Predicts Earnings Decline at Berkshire Units
Warren Buffett, whose economic insights are craved for Berkshire Hathaway Inc.’s deep ties to the American economy, had a gloomy prediction for his own businesses: the good times may be over. The billionaire investor expects earnings at the majority of …
Oakbridge Adds Mississippi Agency, Agents to the Family
Atlanta-based Oakbridge Insurance Agency, which has continued to expand through the partnership model with smaller agencies around the South, announced it has added new agencies and offices in Mississippi. The expansion into the state includes Swoope Insurance, in Columbus, along …
FEMA Releases New Flood Insurance Rates by ZIP Code. Brace for Impact.
When the Federal Emergency Management Agency unveiled its new Risk Rating 2.0 methodology for calculating flood insurance, advocates and critics alike warned that it would mean higher premiums for thousands of property owners, especially in low-elevation coastal areas. Now, the …