INSURANCE NEWS
Wisconsin GOP Lawmakers Move Closer to Legalizing Medical Marijuana
MADISON, Wis. (AP) – Republican lawmakers who control the Wisconsin Legislature are moving closer to supporting the legalization of medical marijuana, after years of fighting efforts to loosen the state’s laws, the GOP leader of the state Senate said Thursday. …
Texas’ Combined Agents of America Adds 24 Partner Agencies
Combined Agents of America (CAA) – a privately held aggregator group based in Austin, Texas – announced the additions of 23 new partner agencies to the organization. The group will now be comprised of 94 agencies across nine states and …
Fire Floods Wisconsin Dairy Plant With Butter
MADISON, Wis. (AP) – The state Department of Natural Resource is helping local government workers clean up after a fire flooded a dairy plant with butter. The fire broke out in a butter storage room at the Associated Milk Producers, …
Hawaii’s Kilauea Volcano Erupts Again, Summit Crater Glows
Hawaii’s Kilauea began erupting inside its summit crater, the U.S. Geological Survey said, less than one month after the volcano and its larger neighbor Mauna Loa stopped releasing lava. The Hawaiian Volcano Observatory detected a glow in webcam images indicating …
Washington Schools Suing over Social Media Harm
The public school district in Seattle has filed a novel lawsuit against the tech giants behind TikTok, Instagram, Facebook, YouTube and Snapchat, seeking to hold them accountable for the mental health crisis among youth. Seattle Public Schools filed the lawsuit …
Beazley Launches Global Insurance Market’s First Cyber Catastrophe Bond
Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with the potential for additional tranches to be released …
Strong Storms Put California Levees to The Test
With multiple powerful storms continuing to bear down on California, state officials have warned that rural areas are the most at risk of flooding because the levees that protect them aren’t built to the same standards as others that shield …
Teva Says Opioids Settlement to Move Forward
Israeli drugmaker Teva Pharmaceutical Industries Ltd said there was sufficient participation from U.S. states and local authorities to move forward with its nationwide settlement agreement to resolve opioid-related claims and litigation. Teva said on Monday it has either already settled …
French Drugmaker Servier Appeals 2021 Convictions Connected to Weight-Loss Pill
French drugmaker Servier on Monday launched its appeal against manslaughter and deception convictions handed down by a Paris court in 2021 in connection with weight-loss pill Mediator. At least 500 people died of heart valve problems in one of France’s …
Massachusetts High Court: Policy Terms, Not Common Law, Control in Loss Prevention Cost Claim
In a pollution liability case, the Massachusetts high court has determined that an insurer does not have a common law duty to cover the expenses that a business incurred in its efforts to prevent an imminent covered loss. Salad dressing …
Russia’s Flagship Oil Sells at Half Global Prices, Below G7 Imposed Cap
Russia’s flagship oil is selling at less than half international prices — and way below a Group of Seven imposed cap — following sanctions targeting the Kremlin’s revenue from petroleum sales. The nation’s Urals grade, a far bigger export stream …
Georgia Has Funds for Testing Lead in Water But Few Schools Sign Up
Lead exposure can have serious health consequences for children, but only a fraction of Georgia schools have signed up for a free testing program. Advocates worry school leaders are hesitant because of the cost and consequences of discovering lead in …