INSURANCE NEWS
Turning London’s Financial Center Into ‘Wild West’ Would Be Self-Defeating: BoE’s Woods
Turning the City – London’s financial district – into a “Wild West“ to attract more business after Brexit would be self-defeating as maintaining financial stability is key to competitiveness, Bank of England Deputy Governor Sam Woods said on Thursday. Britain’s …
Dubai Aerospace Sues 11 Insurers, Including Lloyd’s, AIG, Chubb, for Jets Stuck in Russia
Aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd’s of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600 million for 19 aircraft stuck in Russia. The …
Anger Building over Delays in Replacing Faulty CPAP Devices
A massive recall of millions of sleep apnea machines has stoked anger and frustration among patients, and U.S. officials are weighing unprecedented legal action to speed a replacement effort that is set to drag into next year. Sound-dampening foam in …
Florida Cat Fund May Borrow Billions Next Year, Even Without Another Storm, Report Says
The Florida Hurricane Catastrophe Fund is well equipped to handle losses from Hurricane Ian, which are now estimated to cost the fund about $10 billion, but it could mean the fund will have borrow billions next year – at steep …
New Jersey Beach Town Bulldozes State Over Rebuilding Sand Dues, Building Sea Wall
NORTH WILDWOOD, N.J. (AP) — When the remnants of Hurricane Ian passed by the Jersey Shore earlier this month, chewing huge chunks out of protective sand dunes, North Wildwood asked New Jersey environmental officials for permission to do an emergency …
Police Think Crash That Killed 4 Teens May Be Linked to TikTok Challenge
A car crash in Buffalo, N.Y. that left four teenagers dead may have been linked to a TikTok challenge, a police commissioner said. A total of six teenagers were in a speeding Kia that crashed about 6:30 a.m. Monday, Buffalo …
Kansas Undersheriff Faces Trial in Fatal Beanbag Shooting
An undersheriff in rural Kansas faces a manslaughter trial Monday for fatally shooting an unarmed man with a homemade beanbag round out of his personal shotgun, a case that comes amid a national reckoning on police violence. Jury selection will …
Theft of Frozen Beef in Nebraska Uncovers Midwest Crime Ring
An investigation into the theft this summer of several semitrailers loaded with frozen beef from Nebraska has led to arrests and uncovered a multimillion-dollar theft ring targeting meatpacking plants in six Midwestern states, federal authorities said. The U.S. Department of …
Families of 2 Killed at Astroworld Settle Lawsuits
The families of two people who died during last year’s Astroworld music festival have settled wrongful death lawsuits they had filed, according to attorneys. Ten people were killed and hundreds of others injured during a massive crowd surge at the …
Judge Threatens to Sanction Law Firm that Filed Hundreds of La. Hurricane Lawsuits
A federal judge in Louisiana is threatening to fine a Houston-based law firm $200 for each duplicate or baseless lawsuit he finds among the 1,642 that the firm has filed against insurers for alleged hurricane damages. US District Court Judge …
The Top 3 Questions Agents Ask about Builders Risk
Design on a Dime, Property Brothers, Man Cave, This Old House, Flip or Flop — These popular TV shows draw millions of viewers with stories featuring renovations of run-down or dated homes. Television producers don’t tell you that the contractor …
Kentucky Army Base Fighting Fire that Started in Training Area
Fort Campbell staff are using controlled burn techniques to manage a fire that started in a training area last week, base officials said. The fire started near Trigg County, Kentucky, during routine training. Clinton Allen, branch chief of public works …