INSURANCE NEWS
General Contract Fined $154K After Painter Fatally Falls 21 Feet Off Balcony
A 51-year-old painting contractor at a residential apartment complex in Cleveland stepped onto a third-floor balcony and it tilted suddenly, causing him to fall 21 feet onto the concrete below. As he lay injured, the balcony slid off its wall …
Michigan Conservative Group Will Get Reward for Suing Over COVID-19 Loans
MIDLAND, Mich. (AP) – A conservative economic-policy group will get a $22,500 reward for blowing the whistle on a Michigan teachers union and its insurance arm, which got $12.5 million in government-backed loans during the early months of the COVID-19 …
Burns & Wilcox Acquires Louisiana’s McIntyre & Associates
Burns & Wilcox has signed a definitive agreement to acquire McIntyre & Associates, a Ruston, Louisiana based managing general agent. The deal is expected to close early in Q2 2023.. Family owned for two generations, McIntyre is a wholesale business …
The Hack That Upended Derivatives Trading Spurs Calls for Action
A cyberattack that disrupted derivatives trading in January is prompting calls for more oversight to combat the risk of hacks across financial markets. The top US derivatives regulator wants to update standards and monitoring systems that will help minimize the …
New York City Launches Parametric Flood Program With Insurance, Tech Firms
Insurer Swiss Re Corporate Solutions, reinsurance broker Guy Carpenter, and the data technology firm ICEYE have teamed up with New York City government agencies to develop a pilot parametric flood recovery assistance program for low and moderate income households in …
Women Still Underrepresented in Agency Leadership: Survey
A new report showed that while more agencies have at least one woman in leadership, men still outnumber women in leadership two to one. Women make up more than half of all employees in insurance agencies, but less than one-third …
Florida Senate Committee Approves Tort-Reform Bill, but Changes Are Possible
A Florida bill that aims to further limit injury and insurance litigation and attorney fees passed a state Senate committee Tuesday after heavy debate – but with few changes. Senate Bill 236, the companion to House Bill 837, a wide-ranging …
California Oil Company Paying $65M for Oil Spills
A defunct company that spilled more than a million gallons of crude oil and wastewater in California must pay more than $65 million in penalties and cleanup costs, federal prosecutors announced. A federal court entered a final judgment last week …
Show Must Go On for Broadway Theaters’ Covid Loss Claim, Federal Judge Rules
A New York federal judge has refused to lower the curtain on a Covid-19 business loss claim by the owner of five Broadway theaters because the entertainment insurance policy language is ambiguous as to whether the theater suffered one loss …
EPA to Propose Limits on Toxic ‘Forever Chemicals’ in Drinking Water
The Environmental Protection Agency is expected to propose restrictions on harmful “forever chemicals” in drinking water after finding they are dangerous in amounts so small as to be undetectable. But experts say removing them will cost billions, a burden that …
NHTSA Opens Tesla Probe Into Reports Steering Wheels Fell Off
The National Highway Traffic Safety Administration (NHTSA) said Wednesday it is opening a preliminary investigation into 120,000 2023 Tesla Model Y vehicles after two reports of steering wheels falling off while driving. The U.S. auto safety regulator said the steering …
Georgia Coliseum Closed for Repairs after Concrete Chunk Falls from Ceiling
Georgia’s Stegeman Coliseum has been closed for repairs after a small piece of concrete fell from the ceiling of the nearly 60-year-old facility that hosts several of the university’s sports teams and school graduation ceremonies in the spring. No one …