INSURANCE NEWS
Only 3 Insurers Sign Up for Florida Re Plan, and Hopes for a New Plan Are Fading Fast
After five years of tweaks to Florida’s insurance and tort laws, all designed to reduce the vast amount of claims litigation and – eventually – bring down property rates, many in the industry argue that there’s still one big piece …
As NCCI Turns 100, a Look at What’s Now, What’s Next for Workers’ Comp
Editor’s note: This article first ran in Insurance Journal’s sister publication, Carrier Management, earlier this month. It was written by CM Editor Susanne Sclafane. The National Council on Compensation Insurance, which turns 100 years old this year, is headquartered in …
Judge Says Baldwin Settlement in Fatal Nex Mexico Movie Set Shooting Sealed
A judge has agreed to seal from public view the terms of a proposed settlement agreement that benefits the son of slain cinematographer Halyna Hutchins, in a wrongful death lawsuit against actor Alec Baldwin and an array of producers and …
People Moves: Ryan Specialty Promotes RT Specialty Leaders Austenfeld and Houska
Ryan Specialty Promotes RT Specialty Leaders Austenfeld and Houska Ryan Specialty Holdings, Inc. has promoted Brenda (Ballard) Austenfeld and Chris Houska to CEO and president of their respective RT Specialty practices, the wholesale brokerage specialty within Ryan Specialty. Austenfeld, CEO …
SEC Sees Decentralized Crypto Platforms as Exchanges, Seeks Public Input
The U.S. Securities and Exchange Commission met on Friday to open public comment again on its proposal to expand the definition of an “exchange,” clarifying that its existing rules on exchanges also apply to decentralized cryptocurrency platforms. The SEC voted …
Texas Court: Exxon Covered by Contractor’s Excess Insurers
Two excess insurers may be liable for the more than $20 million that ExxonMobil Corp. paid to settle lawsuits filed by a contractor’s employees who were badly burned while working at an Exxon refinery, the Texas Supreme Court ruled. The …
Evacuation Order Lifted in Area near Indiana Plastics Fire
RICHMOND, Ind. (AP) – Authorities in eastern Indiana lifted a dayslong evacuation order late Sunday afternoon for an area near a plastics fire after they said it was determined air quality and other environmental concerns related to the fire were …
Minnesota Settles Lawsuit Against Juul
MINNEAPOLIS (AP) – Minnesota announced a settlement Monday in its lawsuit against Juul Labs and tobacco giant Altria – the first of thousands of cases against the e-cigarette maker to reach trial – just ahead of closing arguments. The terms …
People Moves: Everest Names Mulray President of North America Insurance; Swiss Re Names Aon’s Quiroga Arias as Head Risk Consulting & Analytics
Everest Names Mulray President of North America Insurance Everest Re Group Ltd., the Bermuda-based property/casualty, and specialty re/insurer, announced the appointment of Mike Mulray as executive vice president and president of North America Insurance, effective immediately. Mulray most recently served …
Restaurants Affected by Ransomware Attack on Payment System Firm NCR
Atlanta-based NCR Corp., one of the largest makers of payment systems, self-checkout technology and ATMs, said it had been targeted this week by a ransomware attack, affecting some customer restaurants. An NCR data center was disabled by the attack, which …
Philips Slow in Replacing Recalled Sleep Devices, Regulator Says
American consumers may be waiting longer than expected for Royal Philips NV to replace sleep apnea devices that were recalled, the US drugs regulator has warned. The number of replacement and remediated devices sent to consumers in the US is …
Elon Musk Says He Will Launch Rival to Microsoft-Backed ChatGPT
Billionaire Elon Musk said on Monday he will launch an artificial intelligence (AI) platform that he calls “TruthGPT” to challenge the offerings from Microsoft and Google. He criticized Microsoft-backed OpenAI, the firm behind chatbot sensation ChatGPT, of “training the AI …