INSURANCE NEWS
Oklahoma AG Announces New Opioid Settlements Worth $226M
OKLAHOMA CITY (AP) – Oklahoma entered settlement agreements with three major pharmacy chains and an opioid manufacturer totaling more than $226 million, Attorney General John O’Connor announced Wednesday. Including the new settlements with drugmaker Allergan and pharmacy chains CVS, Walgreens …
People Moves: NFP Names Head of N.A. Construction Advisory; New Chief Underwriting Officer at Everspan
NFP Names Canning SVP NFP has named Andrew Canning senior vice president and head of project risk advisory for the company’s growing North America construction and infrastructure group. The group, part of NFP’s specialty business, provides clients with comprehensive construction …
Regulators: Lack of Safeguards Led to Wisconsin Refinery Explosion
MADISON, Wis. (AP) – Federal regulators have determined that a lack of safeguards during a maintenance shutdown led to a 2018 explosion at an oil refinery in Superior. The U.S. Chemical Safety Board released a final report last week on …
Louisiana Judge Rules Against Moratorium on Carbon Capture Project
LIVINGSTON, La. (AP) – A south Louisiana parish cannot enforce a moratorium blocking a global gas supply company from conducting seismic tests or building test wells in Lake Maurepas, a federal judge has ruled. Air Products sued Livingston Parish’s government …
Ohio Man Who Had Snow Stuffed in Mouth During Arrest Files Suit
AKRON, Ohio (AP) – An Ohio man who had snow stuffed into his mouth by a police officer during an arrest in Akron has filed an excessive force lawsuit against the city and several officers, claiming his civil rights were …
Storms Cause Damage to Homes, Cars Across the South
Storms across the South, part of a front that swept through the country this week, damaged homes, cars, a manufacturing plant and power lines in Alabama, Georgia, Kentucky and South Carolina. News outlets reported that possible tornados in Montgomery County, …
Russian Hackers Targeted U.S. Nuclear Scientists
A Russian hacking team known as Cold River targeted three nuclear research laboratories in the United States this past summer, according to internet records reviewed by Reuters and five cybersecurity experts. Between August and September, as President Vladimir Putin indicated …
Cat-Exposed Property Highlights Q4 Rate Increases: MarketScout
According to MarketScout’s Market Barometer, the fourth quarter 2022 composite rate for U.S. commercial lines of insurance was up 5.1%. The Dallas-based distribution and underwriting company said property insurance “continues to be challenging,” with Q4 rate increases of 9.3% overall. …
Mitsui Sumitomo Completes Acquisition of Transverse Group
Mitsui Sumitomo Insurance Co. has completed its acquisition of Warren, New Jersey-based specialty insurer Transverse Insurance Group, a deal that was announced in August. Mitsui Sumitomo Insurance Co., a subsidiary of Japan’s MS&AD Insurance Group Holdings, has acquired all the …
‘Bomb Cyclone’ Brought Damaging Winds, Rain to California
Damaging winds and heavy rains from a powerful “atmospheric river” pounded California on Thursday, knocking out power to tens of thousands, causing flash flooding, and contributing to the deaths of at least two people, including a child whose home was …
Family of Arizona Many who Dies in Jail Files Lawsuit
The family of Phoenix, Arizona, man who died in a Maricopa County jail two years ago has filed a lawsuit, alleging police officers used unreasonable force during his arrest. The suit filed last Friday in federal court seeks unspecified general …
Insurer vs. Insurer: Appeals Court Affirms Bad Faith Verdict in Florida Work Injury Case
After a job-site injury left independent contractor Ernest Guthrie paralyzed below the waist, two insurers for the contractor that hired him agreed to pay the full policy limits — $1 million each — only one month after receiving a payment …