INSURANCE NEWS
JPMorgan Reaches Agreement to Settle With Epstein Victim
PMorgan Chase & Co. has agreed to settle a lawsuit alleging it knowingly benefited from former client Jeffrey Epstein’s sex-trafficking. The firm reached an “agreement in principle” to settle the proposed class action filed by an unnamed Epstein victim late …
War in Ukraine Prompts Hike in Cyber Attacks on German Businesses
More than one in 10 German companies were the victim of a cyberattack last year, according to a new study, with the war in Ukraine prompting a steep increase in hacking in Europe’s largest economy. In a survey conducted by …
UK Autonomous Vehicle Dreams Could Break Down at Starting Line Without Rules
Britain could lose out on investments in autonomous vehicles (AVs) and see startups shift testing elsewhere if promised laws to regulate the technology are not passed before the next general election, startups and insurance companies said. Despite the government’s vision …
Guyana Court Stays Order for Exxon to Give Unlimited Guarantee for Oil Spills Coverage
A Guyana Appellate Court judge on Thursday temporarily stayed a lower court’s order requiring Exxon Mobil Guyana and partners in offshore oil production to provide an unlimited guarantee to cover potential oil spills. The stay lifts a cloud over oil …
Russia Remains Dissatisfied With Black Sea Grain Deal After UN Talks
Russia is still not satisfied with how a Black Sea grain deal is being implemented, Deputy Foreign Minister Sergei Vershinin said on Saturday after meeting senior U.N. trade officials a day earlier, the TASS news agency reported. Russia has threatened …
Branch CEO Lekas Announces Layoffs, Cites Inflation, Loss Costs
Branch Insurance has conducted a round of layoffs, according to a June 8 LinkedIn post by co-founder and CEO Steve Lekas. Lekas did not announce the number of employees who were let go, but cited “ongoing challenges facing the insurance …
Bad Press, Claims Issues, Halt on New Business Giving Industry Another Black Eye?
It’s no secret that the U.S. property/casualty insurance industry does not always enjoy a sterling reputation among consumers. As one insurance professor recently put it, the industry’s rank in public opinion is somewhere between that of a personal injury lawyer …
1 Killed, 5 Injured as Driver Crashes Into Subway Sandwich Shop
A car veered into a sandwich shop at a mall near Providence, killing one person and injuring five others, authorities said. The crash happened Wednesday afternoon at a Subway restaurant at the Apple Valley Mall in Greenville, according to police …
Three States Remove All Time Limits on Child Sex Abuse Lawsuits
Ann Allen loved going to church and the after-school social group led by a dynamic priest back in the 1960s. The giggling fun with friends always ended with a game of hide and seek. Each week, the Rev. Lawrence Sabatino …
Dave & Buster’s to Pay $275K Over Claims of Meal Break, Child Labor Violations
Massachusetts Attorney General Andrea Joy Campbell’s office has reached a settlement with Dave & Buster’s, which includes $275,000 for workers, to resolve meal break and child labor violations. Dave & Buster’s operates three locations in Massachusetts in Braintree, Natick and …
The Load: Georgians Prepare for New 88,000-lb. Weight Limits on Trucks
Georgia cities and counties, along with trucking and auto insurance companies, are preparing for the impact of a new law that raises the weight limit of tractor-trailers hauling agricultural and timber products in the state. House Bill 189 was scaled …
Gulf of Mexico ‘Dead Zone’ Forecasted to be Smaller Than Average
EW ORLEANS (AP) – The oxygen-depleted “dead zone” that forms each year in the Gulf of Mexico off Louisiana and Texas is forecast to cover about 4,155 square miles (10,761 square kilometers) this year. That’s about 1,200 square miles (3,107 …