INSURANCE NEWS
Legacy Specialist Enstar Completes Loss Portfolio Transfer With Argo Group
Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced that one of its wholly owned subsidiaries has closed its loss portfolio transfer transaction with specialty insurance underwriter Argo Group International Holdings Ltd. to reinsure a number of its direct U.S. …
Elon Musk Trial Opens to Decide Fate of His $56B Tesla Pay
A trial opened Monday over shareholder allegations that Tesla Inc Chief Executive Elon Musk’s $56 billion pay package was rigged with easy performance targets and that investors were duped into approving it, with Musk slated to take the stand later …
California Sues Over ‘Forever Chemicals’ That Taint Water
A lawsuit filed by the state of California accuses 3M, Dupont and 16 smaller companies of covering up the harm caused to the environment and the public from chemicals manufactured by the firms that have over decades found their way …
Captain of Burning Dive Boat in California Pleads Not Guilty in 34 Deaths
A dive boat captain pleaded not guilty in federal court for a second time to manslaughter in the fiery deaths of 34 people trapped below deck on his burning vessel three years ago off Southern California. A federal grand jury …
Mindfulness Program Hopes to Alleviate Stress After Hurricanes
The 10 women gathered on yoga mats in a New Orleans suburb, the lights dimmed. “I’d like to invite you to close your eyes,” instructor Stephanie Osborne said in a soothing voice from the front of the room. The only …
Baldwin Sues to Clear Name in New Mexico Movie Set Killing
Saying he wants to clear his name, Alec Baldwin is suing people involved in handling and supplying the loaded gun that he was using when it fired, killing cinematographer Halyna Hutchins during a 2021 filming accident in New Mexico. Baldwin …
Accused SC Attorney Murdaugh’s Involvement Looms Over Fraud Trial of his Banker
A banker accused of helping disbarred attorney Alex Murdaugh take money from the legal settlements of clients is the first person to stand trial in the sprawling rural South Carolina legal drama that has captivated true-crime audiences. Former Palmetto State …
Collapsed Crypto Exchange FTX Flags Millions of Dollars of Unauthorized Transactions
Crypto exchange FTX was engulfed in further chaos on Saturday when the company said it had detected unauthorized transactions and analysts flagged that millions of dollars of assets had been moved from the platform in “suspicious circumstances.” FTX filed for …
Judge Orders Alex Jones to Pay $473M More to Sandy Hook Families
Infowars host Alex Jones and his company were ordered by a judge Thursday to pay an extra $473 million for promoting false conspiracy theories about the Sandy Hook school massacre, bringing the total judgment against him in a lawsuit filed …
Aon Buys Mexico’s ERN, Expanding Its LatAm Catastrophe Modeling Capabilities
Aon plc, the global professional services firm, expands its catastrophe modeling and consultancy capabilities in Latin America with the acquisition of ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. Financial details of the deal were not …
UK Government Rushes to Outline Proposed Power to Overrule Financial Regulators
The UK government is rushing to outline a proposed power to overrule the City of London’s financial regulators, as it tries to avoid accusations that the move is an attack on their independence. The power is due to be added …
3 Australian Banks Settle Class Action Lawsuits Over Sale of Credit Insurance Products
Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …