INSURANCE NEWS
A 50% Surge in Zombie Oil Wells Prompts Texas to Crack Down on Toxic Water Leaks
Texas is planning new rules to speed up its response to so-called zombie oil wells after the number of sites leaking toxic wastewater increased more than 50% this year. Oil companies in the largest US crude-producing state are pumping so …
FTC Settles Case Against Anesthesia Company
he U.S. Federal Trade Commission is settling its case against a private equity portfolio company it says was used to buy up anesthesiology practices and raise prices in Texas, according to court documents filed on Thursday. WHY IT’S IMPORTANT The …
Study Finds ‘Alarming’ High Flood Risk for 17M Americans on Atlantic, Gulf Coasts
More than 17 million people along the U.S. Atlantic and Gulf coasts are at the highest risk of being affected by flooding, with New York and New Orleans standing out, according to one of the most comprehensive studies ever of …
Wildfires in Georgia and Florida Destroy 50 Homes and Force Evacuations
Huge plumes of smoke blanketed swaths of the Southeast on Wednesday as crews battled rapidly growing wildfires that destroyed more than 50 homes in Georgia and forced hundreds to flee the drought- and wind-fueled flames. Some of the biggest blazes …
Bayer Shareholders Keep the Squeeze on CEO Over Roundup Lawsuits
As Bayer AG tries to draw a line under costly Roundup herbicide litigation in the US this year, shareholders are using its annual general meeting to make clear that the stakes are higher than ever — including for Chief Executive …
Trump Says He’ll Probe Banks Over Response to LA Wildfires
President Donald Trump said he would look into the actions of banks in their response to last year’s devastating Los Angeles wildfires following a meeting with that city’s mayor, Karen Bass. Trump said he met with Bass and other officials …
Apple, Amazon Push Back on Stricter Emissions Reporting Rules
Major corporations are pushing back against a possible tightening of emissions reporting standards that would have implications for the clean energy transition in years to come. More than 60 companies — including Apple Inc., Amazon.com Inc., General Motors Co., FedEx …
NTSB Cites LaGuardia’s Runway Safety System in Collision That Killed 2 Pilots
The National Transportation Safety Board said Thursday a key runway safety system failed to activate before a March 22 fatal collision at New York’s LaGuardia Airport between an Air Canada Express jet and a fire truck that killed two pilots. …
Marketplace 4 Insurance Buys Maryland’s Swann Agency
Georgia-based Marketplace 4 Insurance announced the acquisition of Swann Insurance Agency, an independent insurance agency based in Columbia, Maryland. Terms were not disclosed. The acquisition of Swann will expand M4I’s footprint in the Mid-Atlantic region. All Swann employees will join …
Stock Markets Are Too High and Set to Fall, BOE Deputy Governor Tells BBC
The Bank of England expects stock markets around the world to fall because current share prices do not fully reflect the many risks facing the global economy, Deputy Governor Sarah Breeden said in an interview with the BBC on Friday. …
Founder of Collapsed MFS Faces £1.3 Billion Creditor Claim
Paresh Raja, the founder of collapsed mortgage firm Market Financial Solutions Ltd., is facing a £1.3 billion ($1.8 billion) lawsuit in the UK from creditors alleging he breached his fiduciary duties. Raja, who is already subject to a worldwide freeze …
China’s 360 Hunts Software Flaws With AI, Echoing Mythos
A large Chinese cybersecurity firm is using artificial intelligence to identify security vulnerabilities in widely used software applications, positioning itself as a competitor to Anthropic PBC, according to a new report. The company, 360 Digital Security Group, has in recent …