INSURANCE NEWS
Energy Fallout From Iran War Signals Global Wake-Up Call for Renewable Energy
The war in Iran is exposing the world’s reliance on fragile fossil fuel routes, lending urgency to calls for hastening the shift to renewable energy. Fighting has all but halted oil exports through the Strait of Hormuz, the narrow waterway …
Odey Allegedly Told Staffer He Could ‘Attack’ Her After Alcohol-Fueled Lunch
Ex-hedge fund boss Crispin Odey cornered a female receptionist after an alcohol-fueled lunch and told her “I could attack you now,” according to a diary entry by the staffer revealed at a London court on Tuesday. When she verbally resisted …
Depreciation on ACV is OK, Court Says in Knocking Down Class Action vs. Cincinnati
A property insurer is on solid ground in applying depreciation to actual cash value, as long as the policy makes that plan clear, a federal appeals court said in shooting down a proposed class-action lawsuit against Cincinnati Casualty Co. The …
RFK Allies Petition to Add More Than 300 Injuries to US Vaccine Injury Table
An anti-vaccine group aligned with U.S. Health Secretary Robert F. Kennedy Jr. is petitioning him to vastly broaden a federal list to include more than 300 injuries it says are linked to immunizations, and has threatened to sue if he …
Totalis Program Underwriters Acquires Home/Flood Insurance Specialist ShoreOne
Coastal-focused homeowners and flood insurance broker ShoreOne Insurance Managers, Inc. has been acquired by Totalis Program Underwriters, a New York specialty insurance platform that is part of NFP, an Aon company. Terms of the deal were not disclosed. However, BrightShore …
Maryland Top Court Tosses Baltimore and Annapolis Climate Change Lawsuits
The Supreme Court of Maryland has thrown out climate change lawsuits filed by Baltimore, Annapolis and Anne Arundel County against 26 fossil fuel companies, finding that the Clean Air Act along with U.S. Supreme Court rulings make it clear that …
Jewish Communities Boost Security Amid Rise in Hateful Incidents
Law enforcement officials on Tuesday said they are taking steps to monitor and counter threats to Jewish and Muslim communities nationwide since the onset of war in the Middle East, multiple hate crimes and an attempted terror attack prompted increased …
People Moves: Everest Appoints Busti From AXIS as Head of North America Treaty Re; AXA XL Taps Lockton’s Reynolds as Head of Marine, UK & Lloyd’s, Global CUO for Hull
This edition of International People Moves details appointments at Everest Group and AXA XL. A summary of these new hires follows here. Everest Appoints Busti From AXIS as Head of North America Treaty Reinsurance Everest Group Ltd., the Bermuda-based specialty …
Michigan Woman Pleads Guilty in Beauty Store Theft Ring
A Michigan woman pled guilty to organizing a high-volume theft ring targeting Ulta Beauty stores in Wayne, Oakland, and Macomb counties, announced Michigan Attorney General Dana Nessel. Cheaira Broughton, 38, of Detroit, was charged by the Department of Attorney General …
Texas Man Gets Life After Investigation Finds Arson Used to Cover Murder
A Texas State Fire Marshal’s Office (SFMO) investigation helped lead to a lifetime prison sentence for a Panhandle man who set a house fire to cover up the murder of a 4-year-old girl. Humberto Martinez pleaded guilty to capital murder …
AM Best Revises Outlooks to Stable for Members of Western Reserve Group
AM Besthas revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) for the following pooled members of Western Reserve Group: Western Reserve Mutual Casualty …
Risk Theory Launches Dealer Transit Service to Address Vehicle Theft
Risk Theory, a Dallas, Texas-based platform of insurance distribution businesses, announced the launch of Dealer Transit, a new logistics solution designed to help dealerships mitigate the growing risk of vehicle theft during transit. The program is backed by Risk Point, …