INSURANCE NEWS

COP27 Kicks Off With Deal to Discuss Compensating Poor Nations for Global Warming

Delegates from nearly 200 countries kicked off the U.N. climate summit in Egypt on Sunday with an agreement to discuss compensating poor nations for mounting damage linked to global warming, placing the controversial topic on the agenda for the first …
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$17M to Settle New Mexico Gender Pay Lawsuit

Hundreds of female city employees are anticipating back payment from the City of Albuquerque, New Mexico, to make up for a wage gap going back years. KOB-TV reported that a judge is expected to sign off on the $17 million …
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Gabby Petito’s Family Files Wrongful Death Suit in Utah

Family members of a 22-year-old woman whose boyfriend admitted to killing her last year have filed a wrongful death suit against the Moab Police Department, claiming their negligence led to her death weeks later. The lawsuit is the latest development …
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U.S. Supreme Court Considers Making Challenges to FTC, SEC Easier

The U.S. Supreme Court is set on Monday to hear arguments in two cases that could make it easier to challenge the regulatory power of federal agencies in disputes involving the Federal Trade Commission and the Securities and Exchange Commission. …
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Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses

Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and increases in private-passenger auto frequency offset underlying …
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Investigators Say Car Was Buried in California in Insurance Fraud Scheme

A car was buried in the backyard of a Northern California mansion 30 years ago as part of a scheme to commit insurance fraud, authorities said Thursday. The convertible Mercedes was discovered last month by landscapers in the affluent town …
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Two Families Settle with PacifiCorp in Oregon Over Fire

Electric company PacifiCorp has entered a settlement with two families who were victims of the catastrophic Labor Day fires in southern Oregon in 2020, according to attorneys representing the families, the Oregonian reports. The confidential settlement avoids a jury trial …
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Cheerleading Company Denies Abuse Involvement, Hires Big Gun Attorney

The American cheerleading company behind the sport’s top uniforms, camps and competitions is vehemently denying accusations that the enterprise helped facilitate alleged sexual abuse at gyms across the Southeast outlined in a series of federal lawsuits, and has hired a …
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Allstate in Talks to Return Headquarters to Chicago From Suburbs

Allstate Corp. is in talks about moving its headquarters to Chicago after selling the majority of its suburban campus earlier this year, potentially returning to a city that it quit decades ago. The insurer has held discussions with Chicago officials …
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Brazil’s BB Seguridade Raises Full-Year Forecasts as Q3 Profit Jumps 69%

Brazilian insurer BB Seguridade Participacoes SA raised some full-year forecasts on Monday after reporting a 69% jump in third quarter profit on the back of a strong commercial performance in insurance, pension plans and premium bonds. BB Seguridade, which is …
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Insuring Cannabis Summit: Carriers Seeing Evolution of the Space

Michael Hall was an early insurance carrier entrant into the insuring cannabis space. Yet, even as it has grown and his competition increases, he doesn’t seem to worry about losing business to competitors or the potential of having to operate …
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Inflation, Debt Crisis, Cost of Living Pose Top Business Risks in G20 Nations: Survey

Runaway inflation, an unfolding debt crisis and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen …
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