INSURANCE NEWS
U.S. Sues Rite Aid for Missing Opioid Red Flags
The U.S. government on Monday sued Rite Aid Corp., accusing the pharmacy chain of missing “red flags” as it illegally filled hundreds of thousands of prescriptions for controlled substances, including opioids. In a complaint filed in Cleveland federal court, the …
Silicon Valley Bank Parent SVB Financial Group Faces First Securities Class Action
Silicon Valley Bank (SVB) on Monday was hit with what appears to be the first federal securities class-action lawsuit against it, carrying allegations that the bank make false or misleading statements pertaining to the potential impact rising interest rates could …
Credit Outlook for Allstate’s Florida Unit is Negative, Reflects Deteriorated Surplus
The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their parent company’s financial picture. AM Best last week posted a …
Former Maryland Police Chief Convicted of Multiple Arsons Targeting His ‘Enemies’
A former Maryland police chief was convicted Thursday of intentionally setting fire to buildings belonging to his adversaries, leading various law enforcement agencies on a sprawling investigation that linked a dozen arsons spanning nearly a decade and crisscrossing several counties. …
FEMA Urges California and Nevada Residents to Heed Flood Warnings
The Federal Emergency Management Agency is cautioning residents in parts of central California and western Nevada to pay attention to local officials as additional heavy rains and flooding are predicted. The National Weather Service predicts widespread rain, snow and strong …
Louisiana UPC Policyholders Have 30 Additional Days to Secure Citizens Policy
Louisiana Insurance Commissioner Jim Donelon announced on March 13 that Louisiana Citizens will provide an additional 30 days after United Property & Casualty Insurance Company (UPC) policies cancel on March 29 for policyholders and their insurance agents to secure coverage …
Texas Women Sued for Wrongful Death After Aiding in Abortion
AUSTIN, Texas (AP) – Three women in Texas are being sued for wrongful death by a man who claims they helped his now-ex-wife obtain medication for an abortion. It’s another test of state-enforced bans since the U.S. Supreme court overturned …
Costs Prompt Iowa Town to Assess Flood Control Efforts
CEDAR RAPIDS, Iowa (AP) – High inflation and construction cost spikes are prompting city officials to study the impact of growing expenses on its permanent flood control system. But City Manager Jeff Pomeranz recently said during a City Council session …
Nebraska Company Fined $531K After Worker Engulfed in Corn Silo
A 34-year-old worker’s attempt to clean out a Roseland grain silo, in preparation for fall harvest, turned tragic on Sept. 12, 2022, when corn engulfed and asphyxiated him. An investigation by the U.S. Department of Labor’s Occupational Safety and Health …
Ohio Residents Experience Rashes, Aches After Derailment
EAST PALESTINE, Ohio (AP) – Heather Bable speaks rapidly, recalling the terror of the night when a train loaded with hazardous chemicals derailed less than a half-mile from her home in East Palestine, Ohio. She heard an earthshaking boom and, …
Court Order Restricts Sale of ‘Ghost Gun’ Parts in New York
The New York attorney general has won an order that stops gun companies from selling or distributing unfinished or unserialized gun parts used to assemble untraceable “ghost guns” to New York consumers. U.S. District Judge Jesse Furman in Manhattan granted …
China is ‘Big Threat’ to Energy Industry, Cybersecurity Official Says
The US energy industry must shore up protection against cyberattacks from China, a more pressing concern than attacks from Russia amid its war on Ukraine, according to a senior government cybersecurity official. “The big threat we all need to be …