INSURANCE NEWS

AIG General Insurance Sees Strong Q2 Growth, Margin Improvement

American International Group saw second quarter growth in net premiums written in its general insurance segment to $7.5 billion, a 10% increase from the same time a year ago. The insurer’s second quarter net income attributable to common shareholders fell …
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McDonald`s Franchise in Louisiana and Texas Illegally Hired Minors, Labor Department Finds

NEW ORLEANS (AP) – A McDonald`s franchise that controls 12 restaurants in metro New Orleans violated child labor laws and has hired more than 80 minors in two states, the U.S. Department of Labor said. CLB Investments LLC in Metairie …
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1 in 5 Texans Live in Flood Prone Areas, New Data Reveals

Almost 6 million Texans, or about 20% of the population, live in an area susceptible to flooding, according to first-of-its-kind data gathered as part of a statewide effort to harden Texas against floods and rising sea levels. The analysis is …
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Recreational Marijuana Now Legal in Minnesota

MINNEAPOLIS (AP) – Minnesotans can legally possess and grow their own marijuana for recreational purposes starting Tuesday, Aug. 1, subject to limits meant to keep a lid on things while the state sets up a full-blown legal cannabis industry. The …
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PCF Insurance Services Secures $400M Financing as Part of New Loan

PCF Insurance Services said today that it closed $400 million in incremental debt financing led by Blue Owl, a global alternative asset manager that acted as lead arranger and admin agent. The financing was upsized from $300 million to $400 …
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Inmate Sues Private Kansas Prison Operators Over His 2021 Stabbing

LEAVENWORTH, Kan. (AP) – An inmate is suing one of the nation`s largest private prison operators over his 2021 stabbing inside a now-defunct maximum security federal facility in Kansas. Joshua Braddy, who is now incarcerated in Illinois, amended his suit …
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NHTSA Opens Probe Into 280,000 New Tesla Vehicles Over Steering Issue

U.S. auto safety regulators said Tuesday they have opened an investigation into 280,000 new Tesla Model 3 and Model Y vehicles over reports of loss of steering control and power steering. The National Highway Traffic Safety Administration (NHTSA) opened a …
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Michigan Supreme Court: No-Fault Changes Are Not Retroactive

Amendments to Michigan’s no-fault law passed by the state legislature in 2019 do not allow auto insurers to cut fees or limit hours of attendant care provided to auto accident victims who were injured before the changes took effect, the …
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Musk’s X Sues Nonprofit That Fights Hate-Speech

Social media platform X, formerly known as Twitter, on Monday sued a nonprofit that fights hate speech and disinformation, accusing it of asserting false claims and encouraging advertisers to pause investment on the platform. U.S. media reported earlier that Elon …
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Crews Battling ‘Fire Whirls’ in California’s Mojave Desert

Crews battled “fire whirls” in California’s Mojave National Preserve as a massive wildfire crossed into Nevada amid dangerously high temperatures and raging winds. The York Fire was mapped at roughly 120 square miles on Monday night, with no containment. The …
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New Hampshire Governor Signs Pet Insurance Standards Into Law

New Hampshire Governor Chris Sununu has signed into law legislation establishing pet insurance regulations. “Pets become family,” said Governor Chris Sununu. “This law will provide Granite Staters with peace of mind and opportunity to ensure their pets can receive the …
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Former Mississippi Governor Sues News Site Over Welfare Fraud Comments

Former Mississippi Gov. Phil Bryant is suing a local news organization, claiming it defamed him in public comments on the misspending of $77 million of federal welfare funds intended to help some of the poorest people in the U.S. The …
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