INSURANCE NEWS
Two Charged With Setting Philadelphia Fire That Killed Firefighter for Insurance Money
The owner of a Philadelphia building that caught fire and collapsed last summer, killing a city firefighter and injuring five other people, has been indicted along with another man on charges they set the blaze, federal prosecutors announced Wednesday. Al-Ashraf …
Insurance Veteran Motamed, 74, Dies
Thomas F. Motamed, an industry veteran who started his career as a claims trainee and eventually led some of the largest insurers in the world, died of brain cancer on Tuesday. He was 74 years old. Motamed was most recently …
Pew: 7-in-10 Americans Favor Steps to Become Carbon Neutral by 2050
Cannabis enthusiasts have the 4/20 holiday, but in two days some 7.9 billion people have cause to celebrate. Earth Day is Saturday, and while today’s eyes are on the cannabis holiday, the media is already starting to turn coverage to …
Judge Halts Most Talc Lawsuits Against J&J, Stops Trials
A U.S. judge on Thursday halted most of the tens of thousands of lawsuits alleging Johnson & Johnson’s baby powder and other talc products caused cancer and stopped any trials as part of a company subsidiary’s second attempt to settle …
Central Oklahoma Tornadoes Kill 3, Cause Widespread Damage
A tornado outbreak on in central Oklahoma left three people dead and caused heavy damage Wednesday night. Three fatalities were reported in McClain County, where a tornado hit the town of Cole. Another tornado touched down in Shawnee, causing damage …
Newly Active Sinkhole in Southeast Texas Town Has Some Residents in Fear
DAISETTA, Texas (AP) – When the massive sinkhole first appeared in Daisetta in May 2008, some residents had feared it might engulf their small Southeast Texas town. But after growing to 900 feet (274 m) across and 260 feet (79 …
ChatGPT Poised to Expose Corporate Secrets, Cyber Firm Warns
Companies using generative artificial intelligence tools like ChatGPT could be putting confidential customer information and trade secrets at risk, according to a report from Team8, an Israel-based venture firm. The widespread adoption of new AI chatbots and writing tools could …
Wisconsin Lawmakers Aim for Harsher Carjacking Penalties
MADISON, Wis. (AP) – A bipartisan bill designating carjacking as a criminal offense and creating harsher penalties for people who use a weapon to steal a vehicle was set for final approval in the Wisconsin Legislature on Tuesday. Passage by …
Lukoil Buys Into AIG’s Former Russian Subsidiary
Russia’s second-largest oil producer Lukoil has bought into insurance company GARDIA, a former subsidiary of AIG, one of the world’s biggest commercial insurers, GARDIA said earlier this week. (Editor’s note: Reuters included a note with this article saying: “This content …
Minnesota Prepares for Flooding on Mississippi, Other Rivers
STILLWATER, Minn. (AP) – The Metropolitan Airports Commission temporarily shut down flight operations for much of Tuesday at the St. Paul Downtown Airport while crews installed flood control barriers to hold back rising water on the Mississippi River. St. Paul, …
Iowa Lawmakers Advanced Bill to Loosen Child Labor Laws
DES MOINES, Iowa (AP) – Lawmakers in Iowa’s Senate passed a controversial bill Tuesday that would allow minors to work longer hours and work in currently banned roles, like serving alcohol at restaurants, the Des Moines Register reported. Supporters of …
Auto Insurance Shopping Rises as Consumers Seek Better Rate
Auto insurers have been forthcoming in their desire to achieve rate to match increases in claims costs and, so far in 2023, consumers are not standing by. According to a quarterly report from J.D. Power, in collaboration with TransUnion, the …