INSURANCE NEWS
Vale Loses Bid to Block BHP’s London Lawsuit in Brazil Dam Case
Vale on Monday lost a bid to block fellow mining giant BHP Group’s bid to have it share potential liability in a 36 billion-pound ($46 billion) London lawsuit over Brazil’s worst environmental disaster. More than 720,000 Brazilians are suing BHP, …
Japan Cannot Confirm Security Leak After Report Says China Hacked Defense Networks
Japan cannot confirm if any security information has been leaked, the top government spokesperson said on Tuesday when asked about a Washington Post report on Chinese hacking into its defense cyber networks. Chinese military hackers gained access to a classified …
Japan Competition Watchdog Probes Insurers Over Price Fixing
Japan’s competition watchdog has begun an investigation into whether the top four non-life insurers colluded to set premiums for their corporate clients, according to a person familiar with the matter, becoming the latest regulator to look into the issue. The …
Ukraine’s Drone Attack Hasn’t Yet Jolted Insurance Costs for Black Sea Oil Carriers
A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were …
Average Cost of a Data Breach Has Reached an All-Time High: IBM Report
According to IBM’s Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3% increase from 2022 and a 15.3% from 2020. The 2023 research, conducted independently …
Trucking Firm Yellow Files for Bankruptcy, Blasts Teamsters
Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier. The nearly 100-year-old …
Plexus Groupe Expands to Memphis, Adds Two to Roster
The Plexus Groupe, an insurance brokerage and advisory firm based in Deer Park, Illinois, is expanding into Tennessee and has named two business leaders to the Memphis office. Cary Cheston, who has worked with Memphis businesses on insurance needs for …
2 Killed, 3 Hurt When Pleasure Boat Catches Fire in Southern California Bay
Two women were killed and another woman and two men were hospitalized with burns after a weekend fire on a pleasure boat in Long Beach, California, authorities said. The blaze was reported around 5:15 p.m. Saturday on a 35-foot motorboat …
More Big Corporate Settlements Coming, Says Departing Justice Dept Official
As Kenneth Polite steps down this month as the head of the U.S. Department of Justice’s Criminal Division, he will leave behind a flurry of major corporate settlements that he told Reuters in an exit interview will hit federal court …
St. Louis Police Protesters Being Receiving Shares of $4.9 million Settlement
ST. LOUIS (AP) – Some of the people who were arrested during a 2017 protest over the acquittal of a white police officer in the shooting death of Anthony Lamar Smith have started receiving their share of a $4.9 million …
Wisconsin Teenager Charged After Throwing Gas on a Bonfire, Triggering Explosion That Burned 17
SHAWANO, Wis. (AP) __ A Wisconsin teenager has been charged with triggering a bonfire explosion that injured more than a dozen people. Prosecutors in northeastern Wisconsin`s Shawano County charged Sam Armstrong, 18, on Thursday with 13 counts of injury by …
South Louisiana Parish Sues to Block Port of New Orleans` $1.8 billion Container Port Project
NEW ORLEANS (AP) – A south Louisiana parish is suing the Port of New Orleans to block it from building a planned $1.8 billion container facility. The St. Bernard Parish District Attorney`s Office filed the lawsuit this week in 34th …