INSURANCE NEWS
EU Draft Rules Would Make It Easier to Sue Drone Makers, AI Systems
Individuals and companies that suffer harm from drones, robots and other products or services equipped with artificial intelligence software will find it easier to sue for compensation under EU draft rules seen by Reuters. The AI Liability Directive, which the …
EU Weighs Ban on Shipping Russian Oil as Part of Price Cap
The European Union is considering adding shipping restrictions to its oil sanctions as the bloc continues to discuss the introduction of a price cap on Russian oil, according to people familiar with the matter. A shipping ban would prohibit EU …
Oklahoma Town Facing Probation From National Flood Insurance Program
Moffett, Oklahoma could soon face probation by the National Flood Insurance Problem due to deficiencies and violations with the town’s floodplain management program, FEMA announced this week. FEMA will place the town on probationary status on Nov. 26 unless Moffett …
16 Wall Street Firms Fined $1.8B for Talking Deals, Trades on Personal Apps
U.S. regulators on Tuesday fined 16 financial firms, including Barclays, Bank of America, Citigroup, Credit Suisse, Goldman Sachs, Morgan Stanley and UBS, a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. The sweeping …
Gun Violence Costs the U.S. $557 Billion a Year
Gun violence that causes tens of thousands of US deaths each year — far more than any other developed nation — is having a significant, negative impact on the country’s economy, Harvard Medical School researchers said. Harvard Medical School researchers …
Appeals Court Won’t Certify Class Action on State Farm’s Diminished Value Formula
Auto and property insurers in the last three months have settled class-action lawsuits in Southern states alleging the carriers systematically underpaid claims. A federal appeals court in Georgia has decided a similar issue in favor of the insurer, noting that …
Washington Insurance Commissioner OKs Coverage for Doctors who Provide Abortions
Washington Insurance Commissioner Mike Kreidler’s office approved coverage requested by Physicians Insurance A Mutual of Seattle to reimburse its policyholders for legal fees and expenses incurred defending against a criminal action from providing patient care, including performing abortions. Abortion is …
Civil Rights Law Targets Louisiana ‘Cancer Alley’ Discrimination
Sprawling industrial complexes line the drive east along the Mississippi River to the majority-Black town of Reserve, Louisiana. In the last seven miles the road passes a massive, rust-colored aluminum-oxide refinery, then the Evonik chemical plant, then rows of white …
60-Ton Crane Crashes Onto Downtown Oklahoma City Building
A 60-ton crane being used to remove a video display board from a downtown Oklahoma City building toppled onto the building that houses several news offices, officials said. The crane’s operator suffered minor injuries in the Saturday afternoon accident. Two …
EEOC: Indiana-Based Pharmaceutical Corporation Sued for Age Discrimination
Lilly USA, LLC, a pharmaceutical corporation based in Indianapolis, Indiana, violated federal law by intentionally failing to hire older workers based on their age for pharmaceutical sales representative positions from April 2017 to 2021, the U.S. Equal Employment Opportunity Commission …
Louisiana Marine Services Company Sued for Disability Discrimination
Eagle Marine Services Electrical & Refrigeration, LLC, a marine services company based in Berwick, Louisiana, violated federal law when it refused to hire or accommodate a worker because he used medication prescribed by his doctor to treat attention deficit hyperactivity …
Advocates Seek More Say in How Ohio Opioid Settlements are Spent
The tattoos on Billie Stafford’s hands — inspired by street art and full of references to her work helping prevent drug-related deaths — have become an indelible memorial to the friend who inked them and the opioid crisis that killed …