INSURANCE NEWS
Corporate Climate Disclosures Jump Again in 2022 — But Many Fail to Respond
Companies worth half of total global market capitalization are now disclosing environmental data after a 42% year-on-year rise in the number of firms reporting, new data published on Wednesday showed. Non-profit environmental disclosure platform CDP said more than 18,700 companies …
Cybersecurity Firm OutThink Raises $10M to Tackle Human Errors Behind Data Breaches
London-based cybersecurity company OutThink has raised $10 million in early-stage investments backed by venture capital firm AlbionVC, it said on Tuesday, as it looks to help organizations identify human behavior that can lead to data breaches. The company, which says …
Federal Judge Dismisses FedEx From Indiana Shooting Lawsuit, Citing Work Comp Act
A federal judge has dismissed FedEx from a lawsuit filed by relatives of five of the eight people who were fatally shot last year at an Indianapolis warehouse by a former employee of the shipping giant. U.S. District Judge James …
Pakistan’s Catastrophic Flood Damage Estimated to Cost $40 Billion: Officials
The damage from this summer’s catastrophic flooding in Pakistan is now estimated at $40 billion, as much as 25% higher than projections a month ago in another blow to the cash-strapped country. The new estimate was shared in the first …
Insurers Increasingly Withdraw From Fossil Fuel Projects: Climate Activists’ Report
Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change – to cheers from environmental campaigners. More than a dozen groups that track what policies insurers …
Australia’s No. 1 Health Insurer Confirms Massive Data Breach, Theft of Patient Details
Australia’s biggest health insurer said on Thursday a criminal had apparently stolen customers’ medical information as part of a massive breach of data, fueling concern about a wave of high-profile cyber attacks. Medibank Private Ltd., which covers one-sixth of Australians, …
New Indictment in California Dive Boat Tragedy, Lawsuits Ongoing
A federal grant jury has issued a new indictment against a dive boat captain, alleging that he acted with gross negligence when a 2019 fire aboard his vessel led to the deaths of 34 people off the Southern California coast. …
Allstate Expects Q3 Net Loss Up to $725M; Ian Caused $366M Net Loss
Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for September were an estimated …
Texas DWC Makes Correction to Employer’s Wage Statement Form
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) announced that is has made corrections to a form that was adopted on July 27, 2022. The corrections apply to DWC Form-003, Employer’s Wage Statement. The form is on the …
Man Pleads Guilty in Scheme to Sell Fraudulent Texas Vehicle Tags
HOUSTON – A 51-year-old man who advertised himself as the “Used Car King of New York” has admitted to conspiring to commit wire fraud, announced U.S. Attorney Jennifer B. Lowery. Octavian Ocasio pleaded guilty to conspiring with others residing in …
Small Planes Crashes Into Ohio Car Dealership, Killing 2
MARIETTA, Ohio (AP) — A small plane crashed into a car dealership parking lot near the border of Ohio and West Virginia early Tuesday, killing two people on board and sparking a large fire. The crash of the 1974 Beechcraft …
Lawsuit Filed Against Wisconsin State Senator in Fatal Car Crash
MADISON, Wis. (AP) — The father of a 5-year-old girl who died in a car crash involving Democratic Senate Minority Leader Janet Bewley has filed a wrongful death lawsuit against the lawmaker. The lawsuit was filed Friday in Ashland County …