INSURANCE NEWS
Leading Investor Group NZAOA Toughens Stance on New Upstream Oil & Gas Projects
The Net Zero Asset Owner Alliance (NZAOA) said on Wednesday [March 29] it expects members to make no new direct investments in upstream oil and gas infrastructure projects for new fields, as part of efforts to rein in global warming. …
MS Amlin’s Long-Term Issuer Credit Rating Downgraded by AM Best
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of MS Amlin AG (Switzerland). The outlook of the Long-Term ICR has been …
UN Maritime Agency Raises Safety Concerns About Shadow Oil Tanker Fleet
A United Nations agency that oversees shipping raised concerns about the shadow fleet of tankers that has emerged to transport oil amid sanctions, calling for more steps to boost safety. States that become aware of ships going dark — or …
Munich Re Exits Insurance Climate Group, Citing ‘Material’ Legal Risks
Munich Re is leaving an alliance of leading insurers that have committed to reduce emissions due to what it says are “material” legal risks, in a move that marks the latest blow to a coalition built by former Bank of …
Fox Judge Says It’s ‘CRYSTAL Clear’ Election Claims Were False
Ever since Fox News was hit with a $1.6 billion defamation lawsuit over reports falsely accusing a voting-machine company of rigging the 2020 presidential election, the conservative network has invoked the broad protections of the First Amendment in its defense. …
Johnson & Johnson Unit Loses Bid to Stay in Bankruptcy During Supreme Court Appeal
A Johnson & Johnson company cannot delay a court order dismissing its bankruptcy, a U.S. court said on Friday, despite the company’s planned Supreme Court appeal to use bankruptcy to resolve tens of thousands of lawsuits over its talc products. …
Elon Musk Sseeks to End $258B Dogecoin Lawsuit
Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and …
Nebraska District Sued Over Axing of Student Paper After LGBTQ Issue
LINCOLN, Neb. (AP) – A former high school journalist and the Nebraska High School Press Association sued Friday over a school district’s shutdown of the school newspaper after it published an LGBTQ-focused edition. The federal lawsuit claims Grand Island Northwest …
Arkansas Tornado Survivors Recount Flying Debris, Destroyed Buildings
WYNNE, Ark. (AP) – With tornadoes hitting the Midwest and the South this weekend, some survivors said they emerged from their homes to find buildings ripped apart, vehicles tossed around like toys, shattered glass and felled trees. J.W. Spencer, 88, …
Fla. Citizens Grants UPC Homeowners Extra Time to Find Repairs or Apply for Coverage
Policyholders with the now-insolent United Property & Casualty Insurance Co., who have existing damage and who have been assumed by Citizens Property Insurance, will have an extra 90 days to show that repair contracts have been signed, Citizens’ officials announced …
Florida DWC Gives Long-Awaited Nod to Ambulatory Surgical Reimbursement Manual
After almost three years of hearings, workshops and debate between insurers and medical centers, the Florida Division of Workers’ Compensation has given final approval to the 2020 reimbursement manual for ambulatory surgical centers. The manual and its reimbursement rates take …
Washington Man Pleads Guilty to Filing False Auto Insurance Claim
A Kirkland, Washington man pled guilty to committing insurance fraud after an investigation by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. Jerame Thurik pled guilty to false claims or proof on March 27 in King County Superior Court. He was …