INSURANCE NEWS
Tesla Fatal Crash With Fire Truck Draws Regulator Inquiry
The US National Highway Traffic Safety Administration asked Tesla Inc. for more information about one of its vehicles colliding with a fire truck in a fatal crash in the San Francisco Bay area. The agency reached out to the manufacturer …
Louisiana Insurance Commissioner Accuses Hurricane Claim Law Firm of Fraud
Louisiana Insurance Commissioner Jim Donelon announced Friday that his department issued a cease-and-desist order to McClenny, Moseley & Associates, a Houston-based law firm that filed more than 1,500 hurricane-damage lawsuits in the state — many which duplicated filings made by …
Higginbotham Looks Back at 75 Years as Independent Agency
When Paul C. Higginbotham founded his namesake insurance agency in 1948, he never could have imagined the Fort Worth, Texas company would grow into one of America’s top independent property/casualty agencies. Started as a personal insurance brokerage firm in Fort …
J&J Rejected by Supreme Court Over $302 Million Vaginal-Mesh Award
The US Supreme Court rejected a Johnson & Johnson appeal, leaving intact a $302 million award against the company for misrepresenting the risks of vaginal-mesh implants to California consumers. The rebuff is a victory for California, the first state to …
Supreme Court Begins Hearing Challenge to Internet Firms’ Legal Shield
The U.S. Supreme Court on Tuesday began hearing arguments in a major case that could weaken a legal shield that protects internet companies from a wide array of lawsuits in a dispute involving YouTube and the family of an American …
Root Granted Restraining Order Against Former CMO it Says Stole About $10M
A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent him, his companies, or associates from selling or transferring any properties or possessions Root has …
Alaska Building Collapse Kills One Victim, Second Hospitalized
A building collapse in Alaska evening killed one person and briefly trapped two others, including a victim who communicated with firefighters before being freed and transported to a hospital, officials said. The Anchorage Fire Department confirmed the death of one …
California Airport, 50K in Bay Area Lose Power Due to Fire
A power substation fire temporarily caused outages at the Oakland International Airport and left 50,000 customers around the east San Francisco Bay Area without electricity Sunday, Oakland fire officials said. The Oakland Fire Department responded to a fire on Pacific …
Georgia Nuclear Plant Again Delayed at a Cost of $200M
Georgia Power Co. has again delayed the projected startup for two new units at its Vogtle nuclear power plant near Augusta, saying its share of the costs will rise by an additional $200 million. Southern Co., the utility’s Atlanta-based parent, …
3 Firefighters Critically Injured, 19 Others Hurt in Staten Island Wind-Swept Fire
Three New York City firefighters were critically injured Friday in what the commissioner said was a “very close call” as wind-swept flames tore through a Staten Island duplex. They are alert and expected to survive, officials said. Firefighters rescued a …
Despite Troubles, Ygrene Energy Seeks Restart on Novel Home Improvement Plan
Their billboards once plastered South Florida. Their contractors went door-to-door, offering expensive and much-needed upgrades to roofs, windows and air conditioning units — with no money down, no credit check needed. Ygrene Energy was the biggest player in a novel …
Swedish MGA Brookfield Underwriting Acquired by Broking Group Säkra
Brookfield Underwriting, the specialist Stockholm-based high net worth managing general agent, announced it has been acquired by Säkra, one of Sweden’s largest insurance intermediaries, which itself has just been acquired by private equity investment firm Cinven. Terms of the transaction …