INSURANCE NEWS
People Moves: Branch Names Patel as First Chief People Officer; Burns & Wilcox Adds McCarthy in Michigan
Patel named First Chief People Officer for Branch Branch® has named new hire Pratiksha Patel as the company’s first chief people officer. Patel joins the Columbus, Ohio-based company with more than two decades of experience across diverse global industry leaders, …
COP27 Delivers Climate Fund Breakthrough at Expense of Progress on Emissions
Countries closed this year’s U.N. climate summit on Sunday with a hard-fought deal to create a fund to help poor countries being battered by climate disasters, even as many lamented its lack of ambition in tackling the emissions causing them. …
Chicago Suburb to Pay $10M to Settle Hit-and-Run Lawsuit
OAK LAWN, Ill. (AP) – A Chicago suburb will pay $10 million to settle a lawsuit stemming from a 2019 hit-and-run crash in which the village’s then-manager struck and critically injured a pedestrian with his municipal vehicle. The Oak Lawn …
West Texas Earthquake Causes Damage Hundreds of Miles Away
MENTONE, Texas (AP) – A strong earthquake that struck a remote area of the West Texas desert caused damage in San Antonio, hundreds of miles from the epicenter, officials said. University Health said last Thursday that its Robert B. Green …
Maryland Condo Explosion That Injured 14 Linked to Suicidal Resident
A fiery explosion that injured more than a dozen people at a Maryland condominium building was ignited by a resident who intended to kill himself and died in the blast, police said. Authorities found the 36-year-old man’s body in the …
Lloyd’s of London Estimates Claims From Hurricane Ian of US$2.3B- US$3B
Lloyd’s, the marketplace for commercial, corporate and specialty risk, announced that claims to the Lloyd’s market arising from Hurricane Ian are estimated to be in the range of US$2.3 billion – US$3 billion net of reinsurance, based on Q3 data …
Louisiana Town Amends March Ordinance, Settles Suit With Protest Group
NEW ORLEANS (AP) – A southeast Louisiana town has eased its requirement that a $10,000 bond be posted by groups wanting to stage protest marches, and it settled a lawsuit with community activists who said the requirement was unconstitutional. The …
Maersk Settles Rape Case That Raised Awareness of Struggles of Women Seafarers
A US unit of A.P. Moller-Maersk A/S said it settled a sexual assault lawsuit with a former employee, ending a case that caused the shipping giant to drastically change the way it manages the staff on its vessels. The container …
FTX Collapse Shows Need to Regulate Crypto World: Bank of England
The implosion of cryptocurrency exchange FTX shows the need to bring the crypto world within the regulatory framework, Bank of England Deputy Governor Jon Cunliffe said on Monday. FTX, which has filed for U.S. bankruptcy court protection, has said it …
Tesla Safety Is Focus of South Korean Criminal Trial Over Fiery, Fatal Crash
In an upscale Seoul neighborhood two years ago, a white Tesla Model X smashed into a parking lot wall. The fiery crash killed a prominent lawyer – a close friend of South Korea’s president. Prosecutors have charged the driver with …
Persistent ‘Underperformance’ at SCOR Prompts S&P Downgrade to ‘A+’
S&P Global Ratings announced that the rating agency is lowering the “AA-” financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, highlighting persistent underperformance as the reason for the downgrades. “SCOR’s operating performance …
Rodgers, NFL Players Urge League to Nix Turf, Go With Grass
Aaron Rodgers has hit the ground in every NFL stadium except one. And while the “frozen tundra” of Lambeau Field has delivered its share of bumps and bruises, the venues with artificial turf have been even rougher on Rodgers’ nearly …