INSURANCE NEWS
Contractor Settles with Sickened Tenn. Workers Who Cleaned up Coal Ash Spill
Attorneys for a group of workers who believe their jobs cleaning up a massive coal ash spill in Tennessee led to a slew of illnesses, including fatal cancers, have reached a settlement with the contractor who organized the cleanup for …
Generali Confirms 2024 Targets After Q1 Profits Rise on Strong Non-Life Performance
Italy’s Generali confirmed all its 2024 business plan targets on Thursday after first quarter profits rose on a strong non-life performance which more than offsetting weakness in the insurer’s life business. Generali reported net outflows of 190 million euros ($209 …
Anti-ESG Campaign Triggers More Defections From Insurer Climate Group
The French reinsurer SCOR SE is quitting the world’s main climate alliance for insurers, the latest in a string of defections as the industry reacts to a campaign by the Republican Party to put an end to coordinated ESG strategies. …
Citizens Financial to Pay $9 Million to Settle Consumer-Protection Lawsuit
Citizens Financial Group Inc. will pay $9 million and take other remedial measures to settle US Consumer Financial Protection Bureau allegations that the bank failed to adequately address credit-card disputes and fraud claims. The consumer watchdog alleged in a 2020 …
China Rejects Claim Its Spies Are Penetrating Western Critical Infrastructure
The Chinese government has rejected claims that its spies are penetrating Western infrastructure, calling the joint warning issued by the United States and its allies a “collective disinformation campaign.” Chinese foreign ministry spokesperson Mao Ning told reporters that alerts issued …
Report: Catholic Clergy Sexually Abused Illinois Kids More Often Than Church Said
CHICAGO (AP) – More than 450 Catholic clergy in Illinois sexually abused nearly 2,000 children since 1950, the state’s attorney general found in an investigation released Tuesday, revealing that the problem was far worse than the church had let on. …
Bankruptcy Judge Rules Directors of Failed SVB Can Tap D&O Insurance
A bankruptcy judge is allowing current and former officials with the parent company of Silicon Valley Bank to tap into the $210 million in insurance coverage available through directors and officers liability policies to defend themselves against litigation that followed …
Texas Cotton Farmers Seek Improvements to Crop Insurance
LUBBOCK — On the eve of another drought-ridden growing season, farmers from the High Plains are asking state and national lawmakers to provide a stronger financial safety net. In Austin and Washington, D.C., farmers from the 41-county High Plains region, …
Oklahoma Lawmakers Agree on $1M Settlement Over Inmate’s Death
OKLAHOMA CITY (AP) – Oklahoma lawmakers on Tuesday signed off on a $1.05 million settlement with the family of a state prison inmate who died of appendicitis in 2018 despite five visits to the prison’s medical staff in the week …
Insurer Aviva Says UK Demand for Private Health Jumped Amid NHS Strikes
UK insurer Aviva Plc said demand for private health care continued to surge as more individuals and companies look for alternatives to the National Health Service. Private health insurance sales grew 25% in the first quarter, the UK based insurer …
Lloyd’s of London CEO Neal Calls for Rethink of UN Climate Alliance Rules
A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, the boss of Lloyd’s of London said after political pressure from some U.S. states prompted some companies to leave. The United Nations …
No Way to Police All Cryptocurrency Fraud, CFTC Commissioner Says
A top U.S. regulator said on Tuesday there is no way to police all cryptocurrency fraud because there is so much, though her agency is working on several big cases. Christy Goldsmith Romero, one of five commissioners at the Commodity …