INSURANCE NEWS
Jurors Urged to Impose Heavy Punitive Damages in J&J Talc Trial
Lawyers for a California man who says he developed a rare cancer from exposure to asbestos in Johnson & Johnson’s talc-based baby powder on Monday urged a jury to order the company to pay heavy punitive damages, calling its conduct …
Insurance Agency EverQuote to Lay Off Nearly 100 Employees
Online insurance agency EverQuote will lay off nearly 100 employees at its Evansville, Indiana office as part of plans to reduce its non-marketing operating expenses by over 15%. A Worker Adjustment and Retraining Notification (WARN) submitted to the Indiana Department …
Workers’ Compensation Undercuts Employer Liability Exclusion, U.S. Appeals Court Rules
Since workers’ compensation shields an employer from liability, an insurer may not be able to rely on an employer liability exclusion in a commercial general liability policy to avoid claims. That’s the potentially costly message a federal appeals court has …
Flash Floods Rage in Vermont, New York; Woman Killed; Economic Impact Could Hit $5B
Torrential downpours unleashed flash floods on the U.S. Northeast on Monday that washed out roadways, overwhelmed rivers, prompted 50 swift boat rescues and killed a woman who was swept away in front of her fiancé, officials said. More than 13 …
People Moves: Allianz Commercial Taps AIG’s Sandric as Leader Asia Region; Banyan Risk Appoints Munro as CUO; Miller Strengthens Entertainment Team With Senior Hire
This edition of International People Moves details appointments at Allianz Commercial, Banyan Risk and Miller. A summary of these new hires follows here. Allianz Commercial Taps AIG’s Sandric as Leader Asia Region Allianz Commercial announced that Christian Sandric has been …
Contrade Insurance Group Announces Kansas Acquisitions
Newton, Kansas-based Conrade Insurance Group (CIG) announces three business acquisitions that have taken place in the first half of 2023, moves the company said expand the firm’s capabilities and strengthen their commitment to client service excellence. In January, Wichita-based The …
Study: 96% of Injured Texas Workers Return to Work Within Three Years
More than 9 in 10 injured Texas employees returned to work within one year post-injury and 96% returned to work three years post-injury, according to an analysis of return-to-work (RTW) outcomes for the Texas workers’ compensation system. The Workers’ Compensation …
Indonesia Seizes Iranian-Flagged Tanker Suspected of Illegal Oil Transfer
Indonesia’s coast guard said on Tuesday it seized an Iranian-flagged supertanker suspected of involvement in the illegal transshipment of crude oil, and vowed to toughen maritime patrols. The MT Arman 114 was carrying 272,569 metric tons of light crude oil, …
Markets/Coverages: Coalition Launches Active Cyber Insurance in Quebec
Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced its cyber insurance and technology errors and omissions (E&O) insurance offerings are now available in Quebec. Brokers can receive highly streamlined quotes for small businesses to large enterprises, …
1 Dead, 15 Injured After SUV Traveling Wrong Way Collides With Bus in Chicago
CHICAGO (AP) – An SUV traveling the wrong way along a Chicago lakefront road collided with a city bus Sunday morning, killing one of the SUV`s passengers and injuring 15 other people, authorities said. A man was driving a Dodge …
Former VW Executives Ordered to Testify in Investor Lawsuit
A German court will call former Volkswagen AG executives as witnesses in a €9 billion ($9.8 billion) investor lawsuit over the diesel emissions scandal to find out what the top brass knew about the the so-called defeat device used in …
What’s Next for Ant Group After its Nearly $1B Fine?
The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s …