INSURANCE NEWS
Paramount Directors Agree to $168 Million Settlement Over Merger
Paramount Global directors agreed to a $167.5 million settlement of investors’ lawsuits over the controversial 2019 merger of CBS Corp. and Viacom Inc. that created the entertainment company, according to a securities filing The settlement with CBS investors was reached …
Vape Companies Suing Kinsale Insurance After Battery Coverage ‘Quietly’ Excluded
Four companies that sell vaping devices have filed a federal lawsuit against Kinsale Insurance Co., claiming the insurer dropped coverage for batteries but failed to fully inform the policyholders before denying a claim. If it goes to trial and appeal, …
Virginia Family Reaches $5M Settlement Over Park Police Shooting
The family of a northern Virginia man fatally shot by U. S. Park Police officers has reached a $5 million settlement in its civil lawsuit against the government. Two officers shot 25-year-old Bijan Ghaisar of McLean in November 2017 after …
Delaware Legalizes Recreational Marijuana Despite Governor’s Disapproval
Delaware Gov. John Carney said Friday that he will allow bills legalizing recreational marijuana use by adults in the state and authorizing the establishment of a state-licensed and regulated cannabis industry to become law without his signature. The Democratic governor’s …
World Insurance Company Pensionmark Acquiring Xponential in California
Pensionmark acquired Xponential Growth Solutions in San Diego, California. Terms of the deal were not disclosed. XGS is a retirement benefits consultant. Pensionmark is a World Insurance Associates LLC company. Pensionmark is an investment adviser.
Markets/Coverages: Marsh Launches Global Facility Backed by QBE for All Major Classes
Insurance broker Marsh announced the launch of “Fast Track,” an insurance facility that will bring a substantial amount of additional “follow form” capacity to its clients globally across major lines of business. Fast Track will be backed by a panel …
About a Dozen Freight Train Cars Derail South of Chicago
BLUE ISLAND, Ill. (AP) – About 15 cars of a freight train derailed Wednesday night just south of Chicago. No injuries or leaks were reported and no hazardous materials were involved in the derailment around 9:30 p.m. in Blue Island, …
Louisiana Energy Company Agrees to $3.1M Settlement Over 2017 Oil Leak
NEW ORLEANS (AP) – A Louisiana energy company has reached a tentative $3.1 million settlement with the federal government over a 2017 Gulf of Mexico oil leak. The agreement, called a consent decree, was filed in federal court in New …
People Moves: Ryan Specialty Names Kendall as Deputy Chief Compliance Officer
Ryan Specialty Holdings has announced that Sara Kendall has joined Ryan Specialty as deputy chief compliance officer. Kendall will support and assist with managing the firm’s global strategic initiatives on ethics, compliance, privacy, and risk management. Kendall’s primary focus is …
People Moves: NavSav Names James as Senior VP of Sales
NavSav Insurance has announced the appointment of Matt James as the new senior vice president of sales. With over 15 years of leadership experience in insurance and financial services, James brings a wealth of expertise to NavSav. James assumes the …
Cloud Seeding Catching on Amid Rocky Mountain Drought
Garrett Cammans and his brothers sometimes don’t talk about their toughest moments on the job in the cloud seeding business, like the time when one of them got stuck in deep mountain snow and had to hike out alone in …
‘Rust’ Reboots After Fatal New Mexico Movie Set Shooting
Filming on the Western movie “Rust” could resume this week in Montana, the production company said Wednesday, in the aftermath of the fatal shooting of a cinematographer during a rehearsal with actor Alec Baldwin on the original production in New …