INSURANCE NEWS
Railroad: Broken Wheel Likely Caused Kansas Derailment
MCPHERSON, Kan. (AP) – Union Pacific officials believe that a broken wheel likely caused this weekend’s derailment that spilled denatured alcohol inside a Kansas refinery. Railroad spokeswoman Kristen South said crews continued to clean up the site of the derailment …
Lawyer: $6.1M LSU Anti-Hazing Verdict Sends Powerful Message
NEW ORLEANS (AP) – A jury’s decision that a Louisiana State University fraternity pledge’s family is entitled to $6.1 million for his hazing-related alcohol death in 2017 sends a powerful message, the family’s attorney said Monday. Max Gruver, from the …
Ohio Sues Norfolk Southern Over Train Derailment
The state of Ohio sued Norfolk Southern NSC.N Tuesday over the Feb. 3 derailment of a freight train that released over a million gallons of hazardous materials and pollutants into the environment around the town of East Palestine. “This derailment …
Buttigieg Says Recent U.S. Aviation Close Calls ‘Deeply Troubling’
U.S. Transportation Secretary Pete Buttigieg said on Tuesday that a series of aviation close calls was “deeply troubling and deserve our immediate attention.” The Federal Aviation Administration (FAA) is holding a safety summit on Wednesday with airlines, unions, airports and …
SVB’s Lack of Risk Officer Emerges as Focus in Fed Probe
Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in …
Where Relationships Matter, Mergers Also Matter in Alabama
Less than eight months after two of Alabama’s oldest insurance agencies merged to create the Where Relationships Matter Group, the group has taken on another agency with offices in the southeast part of the state. WRM Group announced that it …
Florida House Panel Approves Bill to End AOBs in Windshield Repair
Auto insurance and tort-reform groups are celebrating after a subcommittee of the Florida House Banking and Insurance Committee approved a bill that would ban assignment-of-benefits agreements for windshield repairs, a measure that proponents hope will stem a flood of litigation …
Connecticut Jury Awards $20M in Worker’s Death From Asbestos Exposure
A Connecticut jury has delivered a $20 million verdict for the widow and family of John Peckham, who died in 2020 from mesothelioma after being exposed to asbestos while working with DAP “33” window glaze in the 1960s. The two …
People Moves: De Fazio Joins Woodruff Sawyer as Southwest Regional Growth Leader
Mic De Fazio has joined Woodruff Sawyer in a new role as regional growth leader for the Southwest region. De Fazio will lead a team of specialized producers in efforts to design and build new growth initiatives. Prior to joining …
Few Attorneys Left at Troubled McClenny Moseley & Associates
McClenny Moseley & Associates filed more than 2,000 hurricane-damage lawsuits in Louisiana, but now appears to have no attorneys left in the state to pursue them. Three attorneys who once worked in MMA’s New Orleans office have posted notice on …
Miami Homeowner Charged with Falsifying Insurance Claim on Patio Door Damage
Florida authorities have charged a Miami-area homeowner with fabricating and inflating damage estimates to his home in an attempt to defraud Tokio Marine Insurance Co. out of thousands of dollars. Trevor Lawrence Taylor, 50, was arrested this week and booked …
EU Prepares for Climate Stress Test That Includes Insurers
The European Union is starting to prepare the region’s next stress test to measure the financial sector’s readiness for climate change, with the exercise set to involve the insurance industry for the first time. The European Commission last week asked …