INSURANCE NEWS
Two Pilots Killed, Dozens Injured in Jet Collision With Fire Truck at LaGuardia Airport
An Air Canada Express jet collided with a fire truck while landing at New York’s LaGuardia airport late on Sunday, killing both pilots, injuring dozens and closing the facility, authorities said. The Air Canada Express CRJ-900 plane, operated by its …
Musk Found Liable to Twitter Shareholders in Fraud Lawsuit Over Takeover
A U.S. federal jury found Elon Musk liable on Friday for claims he defrauded Twitter shareholders by trying to drive down the social media company’s stock price so he could renegotiate or back out of a $44 billion takeover in …
Iran Threatens to Strike Gulf Power Plants After Trump Ultimatum
Iran will attack Israel’s power plants and those supplying U.S. bases across the Gulf region if President Donald Trump carries out his threat to “obliterate” Iran’s power network, the Revolutionary Guards said in a statement on Monday. They appeared to …
Fermat Criticizes ‘Unprecedented’ EU Plan to Limit Retail Investor Access to Cat Bonds
Fermat Capital Management says a European proposal to limit retail investors’ access to catastrophe bonds faces serious pushback, as money managers specialized in insurance-linked strategies mount a coordinated front. John Seo, co-founder and managing director of the Connecticut-based hedge fund …
Update: Berkshire Hathaway to Invest $1.8 Billion in Tokio Marine
Berkshire Hathaway Inc. will invest 287.4 billion yen ($1.8 billion) in insurer Tokio Marine Holdings Inc., ramping up the US conglomerate’s exposure to the Japanese market. National Indemnity Company, a subsidiary of Berkshire, will make a 2.49% strategic investment in …
Chinese Insurer Ping An’s Offshore Unit Reconsiders US Exposure
The overseas investment arm of China’s Ping An Insurance (Group) Company is reconsidering its exposure to the US as the Iran war fuels waves of volatility. The conflict in the Middle East has upended global markets over the past few …
Iran-Linked Hackers Restore Website After US Seizes Domains
The website used by an Iranian government-linked hacking unit that claimed responsibility for a March 11 cyberattack on a U.S. medical device maker was back up and running a day after the FBI and Department of Justice seized its internet …
Hyundai Says More Injuries Tied to SUV Rear Power Seat Recall
Hyundai Motor said on March 20 it has reports of four minor injuries because rear power seats in new Palisade SUVs may trap a person as sales remained halted after an incident earlier this month in which a two-year-old girl …
Remote Spanish Airport Again Becomes Parking Lot for Planes, This Time Due to Iran War
An airport in a dusty and remote corner of rural Spain has once again become a parking lot for aircraft stranded in Europe, this time due to the war with Iran, which has forced countries to close their airspace and …
The Luxury Life of British Expats in Dubai Faces a Reality Check
On a trip to Dubai two years ago to review luxury hotels, I found myself at a beach-club brunch surrounded by people with British accents. Groups were debating the merits of different corners of the Clapham neighborhood. If not for …
‘Mental Health Trip’ to NY Not Compensable, Florida Appellate Court Finds
A south Florida FedEx driver, now a quadriplegic after a vehicle crash in 2019, may need constant care and may benefit from a trip to see family members in New York. But the employer and the workers’ compensation insurer should …
NHTSA Upgrades Probe into 3.2M Teslas Over Self-Driving Crashes
The National Highway Traffic Safety Administration on Thursday escalated its probe into 3.2 million Tesla vehicles with Full Self-Driving driver-assistance on concerns the system may fail to detect or warn drivers in poor visibility. NHTSA first opened a preliminary evaluation …