INSURANCE NEWS
Congress Passes New Law on Tourist Boats After Missouri Tragedy
JEFFERSON CITY, Mo. (AP) – A bill requiring stricter safety rules in response to the 2018 deadly sinking of a tourist boat in Missouri is headed to President Joe Biden for his signature. The legislation, which passed the Senate on …
Citi, Revlon Lenders Reach Deal Over $500M Accidental Payment
Citigroup Inc. reached an agreement with all 10 Revlon Inc. lenders it mistakenly paid about $500 million on a loan, ending litigation of more than two years, a court document showed on Friday. Citigroup, as Revlon’s loan agent, had accidentally …
Appeals Court Punts on Whether NC Guaranty Fund is Bound by Medicare Payer Act
The question of whether a state guaranty fund, which assumed outstanding claims for an insolvent insurer, is considered a primary payer and owes money to Medicare, will have to wait for another day to be answered – for a second …
Transgender Worker Sues New Hampshire Employer Alleging Bias in Health Plan
A transgender woman in New Hampshire filed a discrimination complaint Friday against the manufacturing company where she works as a machinist, challenging its exclusion of gender-transition health coverage. The complaint against Barrington-based Turbocam, which makes parts for the HVAC, automotive, …
California Occupational Safety Board Votes to Adopt COVID Prevention Regulations
The California Occupational Safety and Health Standards Board has adopted COVID-19 prevention non-emergency regulations. The COVID-19 prevention emergency temporary standards will continue to remain in effect while the Office of Administrative Law reviews the proposed Non-Emergency COVID-19 prevention regulations. OAL …
Florida Gov. DeSantis Signs Bill Seeking to Stabilize Insurance Market
Florida Gov. Ron DeSantis signed a sweeping property insurance bill on Friday. How much and when it will work to stabilize the stormy market are among the questions being asked. One of the key goals of the legislation is to …
Virginia Beach Settles With Lynch Family Over Police Shooting
The city of Virginia Beach will pay $3 million to settle a lawsuit from the family of a Black man who was shot by police during a chaotic night of violence on the city’s oceanfront last year. The city and …
Kinsale Acquires Property in Richmond
Specialty insurance business Kinsale Capital Group, Inc. announced that it has acquired real estate property adjacent to its current headquarters in Richmond, Virginia for $76.2 million, through a wholly owned subsidiary. The property is comprised of two office buildings totaling …
People Moves: Markel Int’l Promotes Green to Head of U/W Risk, Higgins to Head of Cat Mgmt; Fidelis Promotes 3 Senior Leaders Mathias, Bellamy and Davern
Markel Int’l Names Green as Head of Underwriting Risk, Higgins as Head of Cat Mgmt Markel International, a subsidiary of Markel Corp., has named Andrew Green as head of underwriting risk, with Emma Higgins taking over from Green as head …
Virginia County School Administrators Facing Trials Over Response to Sexual Assaults
Three separate trials will be held next year to adjudicate charges against the former superintendent of a northern Virginia school system as well as the system’s primary spokesman. Ex-Superintendent Scott Ziegler and spokesman Wayde Byard made initial appearances Tuesday in …
Munich Re to Launch Specialty Insurance Division
Munich Re is launching a new division, called Global Specialty Insurance (GSI), which will be comprised of various primary insurance businesses from the group that are currently part of the reinsurance segment. The restructuring, effective on Jan. 1, 2023, will …
8 Hurt in Fire at New York Police Evidence Warehouse
Eight people suffered minor injuries Tuesday in a fire at a New York Police Department warehouse that houses DNA evidence from crime scenes as well as cars, e-bikes and motor scooters, police and fire officials said. The fire at the …