INSURANCE NEWS
Jeers, Boos From Ohio Residents Enraged by Toxic Train Spill
EAST PALESTINE, Ohio (AP) – Residents of the Ohio village upended by a freight train derailment packed a gymnasium demanding reassurances after toxic chemicals spilled and burned in a huge plume over their homes and businesses. “I have three grandbabies,” …
Appeals Court Blocks California Ban on Mandatory Arbitration for Workers
A U.S. appeals court on Wednesday blocked a California law that prohibited employers from requiring their workers to resolve legal disputes in private arbitration, ruling that it conflicts with a federal arbitration statute. The 2-1 ruling by a three-judge panel …
Ohio’s DNA Diagnostics Settles $200K Fine Over Data Breach
Ohio and Pennsylvania have negotiated agreements with DNA Diagnostics Center – a Fairfield, Ohio, company that provides paternity and other DNA testing – over a 2021 data breach that compromised the personal information of more than 45,000 consumers in the …
Excess Insurer Pays Before Municipal Pool in Boy’s Beach Death, New Jersey High Court Rules
AmeriTrust subsidiary Star Insurance Co. must pay the $9 million balance of a $10 million settlement in the death of a 12-year old boy who died after a trench he dug on a Long Branch, New Jersey beach collapsed on …
RiverStone Secures Multi-Year Excess-of-Loss Reinsurance to Support Growth at Lloyd’s
RiverStone International, the largest provider of legacy solutions in the Lloyd’s market, announced it has secured an innovative multi-year excess-of-loss corporate member reinsurance cover. The reinsurance has been put in place to support the underwriting of a series of new …
Arizona Interstate Reopens After Deadly Crash, Leak
The main freeway in southern Arizona reopened in both directions evening and officials said people living southeast of downtown Tucson could return home a day after a deadly crash sent acrid plumes into the desert sky and prompted evacuations. “The …
Kentucky Bill Advances, Would Give Lawmakers More Control of Relief Funds
Kentucky lawmakers took an initial step Wednesday toward giving themselves oversight of relief funds like the ones the governor created to help people recover from tornadoes and flooding. The measure, which sailed through a Senate committee, calls for an annual …
Georgia Senate Votes To Regulate Vaping Same as Smoking
Georgia lawmakers are moving to restrict vaping in public spaces. The state Senate voted 51-3 on Wednesday to pass Senate Bill 47, which would regulate vaping in the same way the state already regulates smoking. The measure moves to the …
Markets/Coverages: CFC Launches Policy Encryption for Cyber Cover in Industry First
CFC Underwriting, the specialist managing general agent, announced it is introducing policy encryption for its cyber insurance policies – and is the first provider in the industry to do so. Leveraging its mobile app for cyber to deliver the encryption …
Insurer Can’t Object to Asbestos Makers’ Bankruptcy Despite Fraud Concerns
A liability insurer has no standing to object to its insured’s bankruptcy plan, even if the carrier feels that the plan unfairly exposes it to potentially fraudulent claims, a federal appeals court decided this week in an asbestos case that …
G20-Backed Standards Body Approves First Global Company Sustainability Rules
The G20-backed International Sustainability Standards Board on Thursday approved “global baseline” rules for firms disclosing how climate change affects their business, after calls to curb greenwashing in a “pivotal” year for climate reporting. Subject to ‘balloting’, or standard checks before …
Extreme Weather May Force New Zealand to Rethink Where It Builds: Finance Minister
New Zealand faces big questions about where people should live and how to build infrastructure as the devastating aftermath of Cyclone Gabrielle highlights the impact of climate change, Finance Minister Grant Robertson said. The cyclone swept across the Upper North …