INSURANCE NEWS
I-95 Collapse Update: Body Found in Wreckage; Governor Declares Disaster Emergency; Long Commutes Underway
Drivers began longer commutes Monday after an elevated section of Interstate 95 collapsed in Philadelphia a day earlier following damage caused by a tanker truck carrying flammable cargo catching fire. Sunday’s fire closed a heavily traveled segment of the East …
EU Regulators Could Demand Google to Sell Part of Ad-Tech Business: Source
European Union antitrust regulators may order Alphabet Inc.’s Google to sell a part of its advertising-technology business, a source with direct knowledge of the matter told Reuters on Monday. The EU’s top antitrust watchdog, the European Commission, could issue a …
New York Lawmakers Again Pass Wrongful Death Damages Bill. Is Another Veto in Store?
New York lawmakers have again overwhelmingly passed legislation to overhaul the state’s 1847 law that governs damages that can be awarded in wrongful death cases. But it’s unclear whether the latest version of the Grieving Families Act will pass muster …
UK Communications Regulator Ofcom Says Hackers Stole Confidential Data
The hackers responsible for the MOVEit cyberattack downloaded confidential information from UK communications regulator Ofcom about companies it regulates, as well as its own employees — adding to a string of victims which includes IAG SA’s British Airways and the …
Fitch: Hardening Commercial Lines Market to Continue Through 2023
This year will mark the fourth year of a hardening market for commercial lines underwriting cycle, according to the latest US Commercial Lines Market Update released by Fitch Ratings. The Council of Insurance Agents & Brokers’ (CIAB) commercial lines market …
Two More States Pass Bills to Require Disclosure of Litigation Funding
Lawmakers in two states passed bills this year to require disclosure of litigation funding contracts. Business groups are pushing for similar rules in federal courts nationwide. Montana Gov. Greg Gianforte on May 2 signed into law Senate Bill 269, which …
Nashville Bar Damaged in 2020 Bombing Files Suit Against its Insurer
When a Tennessee man set off a bomb in downtown Nashville in 2020, it not only disrupted a peaceful Christmas morning in the city, it put some nearby establishments out of business for more than 30 months. The vehicle blast, …
Maine Lawmakers Agree to Expand Equal Pay Law to Address Racial Bias
Maine lawmakers have signed off on a proposal to expand the state’s equal pay law to prevent discrimination on the basis of race. The proposal from House Speaker Rachel Talbot Ross received affirmative votes in both chambers of the Maine …
Court Allows Philly Cops Fired Over Facebook Posts to Pursue 1st Amendment Claims
A dozen Philadelphia police officers who were fired or suspended for racist and violent social media posts can pursue a lawsuit against the city claiming their First Amendment rights were violated, a federal appeals court ruled. The officers’ social media …
Report: Wildfire Fears at ‘All-Time High’ and Driving Insurer Decisions in Property Market
Despite a relatively average 2022 wildfire season, fears of wildfires remain at an “all-time high,” and those fears appear to be one driver of decision-making on property insurance. A new report from Gallagher Re shows the threat of damaging wildfires …
Berkshire Unit Liable for Millions in Damages Over Oregon Fires
A Berkshire Hathaway Inc. unit is liable for destruction caused by the 2020 Labor Day Fires in Oregon, a jury concluded, exposing energy company PacifiCorp to potentially more than $1.5 billion in damages. Following a seven-week trial, a state court …
Aon Denied Restraining Order Against Alliant
In a June 9 ruling, a federal judge denied Aon a temporary restraining order against Alliant Insurance Services related to the latter’s alleged “unlawful raid” of employees to start a reinsurance business. Last month, Aon filed suit against Alliant, claiming …