INSURANCE NEWS
Britain Says Global Accounting Rules Are Crimping UK Economy
A central plank of global accounting rules has become a “performance penalty” which holds back investment in Britain, its financial services minister Andrew Griffith said on Tuesday. So-called mark-to-market, or valuing investments on a regular basis to reflect changes in …
Shipping Industry Grapples With Ways to Cut Cargo Fires at Sea
Global shipping companies are exploring ways to boost safety in transporting cargoes as risks grow from fires erupting inside containers or in cars at sea, officials said on Wednesday. Shipping transports around 90% of world trade onboard different vessels including …
Norfolk Southern Ordered to Clean Polluted Ohio Derailment Site
The U.S. government on Tuesday ordered rail operator Norfolk Southern Corp. to clean up contaminated soil and water at the site of a train derailment in East Palestine, Ohio, and to attend all public meetings with local residents. The Environmental …
Florida Workers’ Comp Revises Wording on Payment to Surgical Centers
The Florida Division of Workers’ Compensation has made a tweak to its proposed reimbursement manual for ambulatory surgical centers. The change, posted after a Jan. 12 hearing on the issue, would clarify the wording by removing the words “for which …
Trenton Officials Urge Probe of Arena Security After Fatal Stabbing During Tournament
TRENTON, N.J. (AP) — Officials in New Jersey’s capital city are calling for an investigation into security measures at an arena where a man was stabbed to death during a high school basketball game last week. Mercer County prosecutors say …
Pedestrian Killed by New York Police Cruiser in Multivehicle Accident
A New York City police cruiser struck and killed a 52-year-old woman in a multivehicle accident while responding to an emergency call, police said. The crash happened at about 8:30 p.m. Friday in the Far Rockaway section of Queens. Officials …
Connecticut Insurance Firm Owner Pleads Guilty in $40M Fraud Scheme
The owner and manager of a Connecticut insurance firm pled guilty this week in White Plains federal court to conspiracy to commit wire fraud and bank fraud, according to prosecutors. Between 2015 and 2019, Anthony Riccardi, and his co-conspirators used …
California High Schoolers to Learn Insurance Under Mandatory Finance Education Bill
How many adults not in the insurance industry can explain the risks financial loss and how insurance shares that risk, or identify factors impacting insurance premiums and grasp the relationship between premiums, deductibles, and coverage limits? How many can state …
Scott Kipper Returning as Nevada’s Insurance Commissioner
Scott Kipper will become the Insurance Commissioner at the Nevada Division of Insurance for the third time. Department of Business and Industry Director Terry J. Reynolds named Kipper to the role on Tuesday. His appointment to head the DOI is …
Ohio Tool Manufacturer Fined $164K After Worker’s Thumb Amputated
In less than two years, three workers at a leading tool manufacturer in Barberton suffered injuries from unguarded machinery. The latest injury occurred on Oct. 26, 2022, when a worker suffered a left thumb amputation while hand-feeding parts into a …
Baton Rouge, La. to Pay $1.17M Settlement in Alton Sterling Protest Lawsuit
ATON ROUGE, La. (AP) – The city of Baton Rouge will pay a $1.17 million settlement to 14 people who accused local law enforcement of using excessive force and violating their First Amendment rights at a protest over Alton Sterling’s …
Train Derailments in Michigan, Ohio Have Similar Risks, Different Outcomes
TRAVERSE CITY, Mich. (AP) – Police Chief Jason Wright feared the worst as he rushed to the scene of a freight train derailment in Michigan’s Van Buren Township, mindful of a fiery rail crash this month in Ohio that led …