INSURANCE NEWS
SEC Enforcement Activity Drops Dramatically as Agency ‘Resets’
Enforcement cases brought by the U.S. Securities and Exchange Commission fell more than 20% in the latest fiscal year as the regulator “recentered” its enforcement program, the agency said April 7. The SEC brought 456 enforcement actions in the fiscal …
Nantucket Flight Returns After Part of Cabin Door Opens Midair
A Cape Air flight departing from the Massachusetts island of Nantucket returned safely after part of the main cabin door opened shortly after takeoff, an alarming midair incident that prompted the crew to turn back. The aircraft remained stable and …
Another State, Tennessee, Warns Insurers About the Proper Use of Drone Images
The Tennessee Department of Commerce and Insurance has joined a few other states in urging insurers to be careful about using aerial imagery in making claims and nonrenewal decisions, following some complaints from homeowners. The department is not aiming to …
Texas Cannabis Businesses Sue State to Block Smokeable Hemp Ban
Texas hemp industry leaders and advocacy groups have sued the state to block new regulations that eliminate natural smokeable hemp products and increase licensing fees. The Texas Hemp Business Council, Hemp Industry & Farmers of America, and several Texas-based dispensaries …
South Dakota Construction Company Sued Over Whistleblower’s Firing
The U.S. Department of Labor has filed suit against a Valley Springs, South Dakota construction contractor for the wrongful termination of an employee who reported a severe work-related injury. An investigation by the department’s Occupational Safety and Health Administration found …
Waco Business Earns TDI’s Lone Star Safety Award
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) has honored Laminate Technologies Inc. in Waco, Texas, with the Lone Star Safety Award for exceptional dedication to protecting its employees through a strong and proactive safety program. This facility’s …
NFP Acquires Minnesota’s Sherman
NFP, an Aon company and leading property and casualty (P&C) broker and benefits consultant, announced the acquisition of Sherman Insurance Agency, Inc., a full-service agency specializing in trucking, commercial, personal and benefits insurance solutions. Based in South St. Paul, Minnesota, …
Investors Press Amazon, Microsoft and Google on Water, Power Use in Data Centers
Amazon, Microsoft and Alphabet’s Google have each recently abandoned construction of multibillion-dollar data centers over community opposition and now the companies are coming under shareholder pressure over the environmental impact of their projects. More than a dozen investors are cranking …
UBS Loses Bid to Limit Liability for Nazi-Linked Crimes, Judge’s Ruling Shows
A U.S. judge on Tuesday rejected UBS’ bid to clarify a $1.25 billion settlement from 1999 of Holocaust-related litigation against Swiss banks by shielding it from claims based on new revelations about Nazi-linked accounts. U.S. District Judge Edward Korman in …
Russia-Linked Hackers Hijack Routers to Steal Passwords, UK Says
Russian government-linked hackers are compromising popular internet routers to steal passwords for email accounts and other online services, the UK’s National Cyber Security Centre has warned. The hackers, a group known as APT28, are associated with Russia’s GRU military intelligence …
Resuming Normal Shipping to Take 6-8 Weeks Once Middle East Stabilizes: Hapag-Lloyd
Hapag-Lloyd voiced cautious optimism on Wednesday on the prospect of resuming shipping through the Strait of Hormuz after a two-week ceasefire agreed between the U.S. and Iran, but said that resuming normal traffic throughout its network would take at least …
Markets/Coverages: Marsh Risk Enhances Cyber Facility With up to $200M of Capacity
Insurance broker Marsh Risk, the Marsh subsidiary, announced that its Cyber ECHO facility now provides Marsh clients with up to $200 million of cyber insurance. Marsh Risk describes Cyber ECHO as the largest cyber insurance facility of its kind in …