INSURANCE NEWS
Rite Aid Faces Securities Suit Over Allegedly Filling Unlawful Opioid Prescriptions
A Rite Aid Corp. shareholder on March 20 filed a securities class action lawsuit against the company as well as former and current executives, alleging Rite Aid has given false or misleading statements regarding its alleged distribution of unlawful opioid …
NTSB: Strong Winds During Arkansas Plane Crash
LITTLE ROCK, Ark. (AP) – During last month’s deadly crash of a small plane near Little Rock, there were “changing/deteriorating weather conditions from the time of taxi, takeoff, and the accident,” according to a preliminary report Friday from the National …
People Moves: MEMIC Promotes Three Team Members to Key Director Roles
The MEMIC Group, headquartered in Portland, Maine, has promoted three veteran team members to key managerial roles. Janine Bard has been promoted to director of claims, Maine region. Bard started as a compensation specialist in 2002 before being promoted to …
Correll Group Acquires Two More SE Agencies
Correll Insurance Group, a rapidly growing agency in the Southeast, announced two more acquisitions of Tennessee-based agencies: SouthPoint Risk, in Nashville, and Insight Risk Management, in Memphis. Correll said in a news release that it has made 10 acquisitions in …
Workers’ Compensation Must Reimburse for Medical Marijuana Costs in Pennsylvania
Injured workers in Pennsylvania are entitled to be reimbursed for medical marijuana costs under the state’s workers’ compensation law. A Commonwealth Court of Pennsylvania has ruled that while the Medical Marijuana Act (MMA) does not require insurers or self-insured employers …
U.S. Studies Ways to Insure All Bank Deposits If Crisis Grows
US officials are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it’s needed to head off a potential financial crisis. Treasury Department staff are …
Arthur J. Gallagher Acquires Viking Bond Service in Arizona
Arthur J. Gallagher & Co. acquired Phoenix, Arizona-based Viking Bond Service Inc. Tom Buckner, Bill Belpedio and the Viking Bond team will operate under the direction of Kevin Garvin, head of Affinity North America for Gallagher’s retail property/casualty brokerage operations. …
Fox, Dominion Pursue Pretrial Wins in $1.6B Defamation Case
Lawyers for Dominion Voting Systems on Tuesday were asking a Delaware judge to find Fox Corp. liable for defamation over airing debunked vote-rigging claims, while Fox lawyers fighting a $1.6 billion lawsuit counter that the network’s 2020 election coverage was …
UK Businesses Face Risk of Underinsurance as Construction Costs Reach Record Highs
Continuing high levels of inflation in construction costs in the UK and globally, risk leaving homes and businesses underinsured in the event of fire or another catastrophic event, warned Chaucer, the specialty re/insurance group. Many businesses have tried to save …
Without Veto, Tougher Riot, Property Damage Penalties Become Law in North Carolina
Increased punishments for rioting in North Carolina will become law later this year as Democratic Gov. Roy Cooper announced on Friday he wouldn’t use his veto stamp on legislation that’s similar to a bill he successfully blocked in 2021. The …
Boaters Did Not Survive After Trying to Rescue Woman, Florida Sheriff Says
Two men were found dead after a boating incident on a central Florida lake near the Legoland theme park. Polk County Sheriff Grady Judd said at a news conference that the two men had jumped into Lake Eloise Saturday to …
Toxic Spills at Alberta’s Oil Sands Spur Canada to Boost Regulatory Oversight
Canada’s federal government is stepping up environmental oversight in Alberta’s oil sands after Imperial Oil Ltd. and the provincial regulator were slow to report toxic spills. Environment Minister Steven Guilbeault has proposed a joint federal-provincial-Indigenous working group with the involvement …