INSURANCE NEWS
Storm Ian Weakens as Millions Left Without Power
Ian was downgraded to a tropical storm as it continued to move northeastward across central Florida, with a massive and deadly surge of water and catastrophic winds that are poised to make it one of the costliest storms in US …
UK Insurers, Banks Told to Do More to Help Customers Struggling With Cost of Living
Britain’s Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Interest rates are increasing to quell decades …
How Methane Leaks Accelerate Global Warming
Methane leaks have emerged as a top threat to the global climate, with the latest incident involving two Russian gas pipelines under the Baltic Sea that are at the heart of an energy crisis since Russia invaded Ukraine. Methane, the …
Russia Gas Pipelines Now Have Four Leaks, Blamed by Some on Sabotage
A new leak has been discovered on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea, bringing the total number of ruptures to four, according to the Swedish Coast Guard’s Command Center. Gas has been bubbling up …
Optus Must Pay Cost of Replacing Hacked Customer Documents: Australia Government
Australian telecoms giant Optus must pay the cost of replacing the passports and drivers licenses of millions of customers whose personal information was stolen in one of the country’s biggest data breaches, the government said on Thursday. The theft of …
Taming Global Supply Chain Risks, Holistically
While supply chain risks are insurable, many products do not cover non-damage business interruption, and companies could find they aren’t covered for shipping delays that don’t involve physical damage. As a result, many risk experts believe that if insurance isn’t …
HP Enterprise to Pay $8.5 Million to Settle Gender Pay Gap Suit
Hewlett Packard Enterprise Co. agreed to pay $8.5 million to resolve a lawsuit that alleged it pays female employees less than their male counterparts. The settlement funds, minus attorney fees and expenses, will go to 1,735 women who worked in …
Intensifying Storms Are Fueling a Record $17 Billion Bond Barrage
Bonds sold to help US utilities recoup losses from natural disasters are seeing an unprecedented boom, with the latest burst of issuance generated by the deadly February 2021 storm that paralyzed Texas as it struck a large swath of the …
Woman Who Gave Birth on Cell Floor Sues, Says Nurses Ignored Her Cries for Help
A woman who said she was left to give birth to her baby alone on the dirty floor of her jail cell in Maryland filed a federal lawsuit Tuesday alleging that jail nurses ignored her screams and pleas for helps …
California Cites Home Health Agencies $2M for Misclassifying 66 Workers
The California Labor Commissioner’s Office cited Angel Connection Nursing Care and Angel Connection Nursing Services for improperly misclassifying 66 home health care workers as independent contractors. Investigators determined that Annabelle Ricasata, the owner of Angel Connection Nursing Care, and a …
$52B Storm Moveable Barriers, Gates Eyed for Waterways Hit by Sandy
A decade after Superstorm Sandy pummeled New York and New Jersey in one of the costliest storms in U.S. history, the federal government is proposing a $52 billion plan to build movable barriers and gates across bays, rivers and other …
Michigan Farmer to Pay $1.2 Million Settlement Over Crop Insurance Fraud
Gaylord D. Lincoln and G. Lincoln Farms, LLC, located in Springport, Michigan, have agreed to pay $1,200,000 to resolve allegations that they violated the False Claims Act by causing the submission of fraudulent claims for federal crop insurance and federal …