INSURANCE NEWS
Negligence Led to Mississippi Grain Bin Death, OSHA Finds
A South African teenage farm worker who suffocated to death after falling into a grain storage bin would still be alive had a Mississippi soybean farm followed federal workplace safety standards, inspectors with the U.S. Department of Labor’s Occupational Safety …
New York Woman Pleads Guilty to $27K in False Claims for Aquatic Treatments
Eunice Ting, of Watervliet, New York, pled guilty last Thursday to making a false statement to obtain benefits from the Department of Labor’s workers’ compensation program. According to prosecutors, Ting admitted that between December 2013 and March 2020, she falsely …
Tokio Marine Weighs Sale $1 Billion Sale of Southeast Asia Life Unit
Tokio Marine Holdings Inc. is considering a sale of its life insurance business in Southeast Asia that could be valued at about $1 billion in a deal, according to people familiar with the matter, as the Japanese insurer looks to …
Marsh McLennan Reports ‘Strong Start’ to Year With Restructuring Program on Track
Marsh McLennan Companies Inc. reports “a strong start” to 2023, generating 9% underlying revenue growth in the first quarter on top of 10% growth in the first quarter of last year, according to John Doyle, president and chief executive officer. …
Tornado, Small Earthquake Hit Upstate New York
A minor magnitude 3.6 earthquake shook parts of upstate New York on Sunday afternoon. There were no immediate reports of significant damage. The U.S. Geological Survey reported that the earthquake struck at 2:10 p.m. with an epicenter about 10 miles …
CBI President Says Business Group May Not Survive Sexual Assault Scandal
The Confederation of British Industry may not survive a scandal triggered by rape claims among staff, its president said, as he acknowledged that the business group had failed to dismiss “abhorrent” employees who’d harmed their colleagues. Brian McBride wrote an …
Brazilian Reinsurer Resolves U.S. Probe Into Fake Berkshire Hathaway Story
A Brazilian reinsurer entered a non-prosecution agreement and will pay $5 million to resolve a U.S. probe into a false story that the company had received a significant investment from billionaire Warren Buffett’s Berkshire Hathaway Inc. The U.S. Department of …
Supreme Court YouTube Decision Could Shape Protections for ChatGPT and AI
When the U.S. Supreme Court decides in the coming months whether to weaken a powerful shield protecting internet companies, the ruling also could have implications for rapidly developing technologies like artificial intelligence chatbot ChatGPT. The justices are due to rule …
Cancer Victims Urge Judge to Dismiss J&J Talc Unit’s Second Bankruptcy
Cancer victims on Monday urged a U.S. judge to dismiss a Johnson & Johnson subsidiary’s second bankruptcy filing, saying that the company is abusing the bankruptcy system in its renewed attempt to resolve tens of thousands of lawsuits alleging that …
NC Work Injury Tort Settles for $5M with Another $5M in Comp Benefits to Come
A laborer in Asheville, North Carolina, working at a hotel construction site, fell through a four-story air conditioning shaft in 2018, leaving him paralyzed and in need of regular care. Four years later, the 34-year-old has settled his civil suit …
CIC Services Names Former NC Regulator as Director of Captive Management
Leane Rafalko, who spent eight years with the North Carolina Department of Insurance as chief captive analyst, has been named director of captive management for Knoxville-based CIC Services. After leaving DOI, Rafalko joined Hylant Global Captive Solutions as senior captive …
Early Morning Fire Destroyed Wing of Idaho High School
An early morning fire destroyed part of a large high school in the southern Idaho city of Pocatello last week. No one was injured in the fire, but Pocatello Fire Department Assistant Chief Shane Grow said one wing of Highland …