INSURANCE NEWS

Student Pilot, Instructor Killed in Maine Plane Crash Identified

Authorities identified the two people killed in a Maine plane crash as a flight instructor and student. The Beechcraft cargo plane crashed in a field in the town of Litchfield last Tuesday. Federal authorities are investigating the cause of the …
Read More

2023 to Test Recent Growth in Private Flood Insurance Market

The private flood insurance market has been growing but 2023 may provide a real test following Tropical Storm Hilary in California as well as future storms that may come during the remainder of the Atlantic hurricane season. According to AM …
Read More

Howden’s Aston Lark Acquires UK Broker Curtis Marine

Aston Lark, a Howden company, announced it has acquired Plymouth, UK-based marine insurance broker, Curtis Marine. Financial details of the deal were not disclosed. Curtis Marine will become part of Howden’s marine practice, trading under the Haven Knox-Johnston name. The …
Read More

Removing Fukushima’s Melted Nuclear Fuel Will Be Harder Than Wastewater Release

At a small section of the Fukushima Daiichi nuclear plant’s central control room, the treated water transfer switch is on. A graph on a computer monitor nearby shows a steady decrease of water levels as treated radioactive wastewater is diluted …
Read More

El Niño Likely to Develop Between Sept and Nov, Australian Weather Bureau Says

Australia’s weather bureau said on Tuesday that sea surface temperatures in the tropical Pacific were rising and an El Niño weather event, which typically brings hotter, drier weather, would likely develop between September and November. El Niño is associated with …
Read More

Federal Judge Set to Decertify Google Play Class Action

A U.S. judge plans to free Google from having to defend against a class action by 21 million consumers who claimed it violated federal antitrust law by overcharging them in its Google Play app store. Monday’s decision by U.S. District …
Read More

Hundreds of P&O Cruise Passengers Flown Home After Tanker Crash

Hundreds of passengers on a P&O cruise ship that crashed into an oil tanker during a storm in Spain have been flown home. The flagship Britannia departed the Mediterranean island of Palma de Mallorca on Monday and will return to …
Read More

Toyota’s Japan Production at Standstill as System Failure Hits All 14 Assembly Plants

Toyota Motor Corp. on Tuesday said it has suspended operations at all 14 of its assembly plants in Japan due to a production system malfunction, bringing domestic output to a standstill at the world’s biggest-selling automaker. The glitch is preventing …
Read More

Drugmaker Mallinckrodt Files for Second Bankruptcy in the US

Drugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid crisis. The Ireland-based company initiated Chapter …
Read More

Kentucky Supreme Court: Docs Must Bill for Injured Workers Within 45 Days

Medical providers who treat injured workers in Kentucky must bill the employer/insurer within 45 days, even before a workers’ compensation claim has been filed and before an employer’s liability has been established, the Kentucky Supreme Court decided this week. The …
Read More

Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges

Farmers Insurance announced it will part ways with approximately 2,400 employees – 11% of its workforce across all lines of business. “Decisions like these are never easy, and we are committed to doing our best to support those impacted by …
Read More

KCC Estimates Storm Hilary Caused Nearly $600M in Insured Losses

Catastrophe modeler Karen Clark & Co. said privately insured losses in the U.S. from Hurricane Hilary will be near $600 million. Once a Category 4 storm, Hurricane Hilary weakened to a tropical storm before it made landfall near Baja California …
Read More