INSURANCE NEWS
U.S. Supreme Court Again Nixes Bayer Challenge to Weedkiller Suits
The U.S. Supreme Court on Monday rejected another Bayer AG bid to dismiss litigation alleging that its Roundup weedkiller causes cancer as the German pharmaceutical and chemical giant tries to avoid potentially billions of dollars in damages. The justices turned …
Louisiana Launches $463M Project to Elevate Hurricane Evacuation Route
Louisiana state leaders have broken ground for a $463 million project that will elevate 8.3 miles of La. 1, one of the state’s hurricane evacuation routes. The groundbreaking held Friday is for work that will be done between Golden Meadow …
Lawsuit Filed Over Fatal Shooting of Arkansas Teen
The family of an unarmed Arkansas teenager fatally shot by a sheriff’s deputy during a traffic stop filed a federal lawsuit Thursday against the deputy and a county sheriff over the teen’s death. The family of Hunter Brittain filed the …
North Dakota Governor Wants Federal Aid to Deal with Spring Storm Damage
Gov. Doug Burgum is asking for some federal help in dealing with $57 million in public infrastructure damage caused by severe spring storms and flooding in North Dakota. Burgum has requested a presidential disaster declaration that would provide federal aid …
Florida OIR Trims Citizens’ HO Rate Increase to 6.4%
Five months ago, Citizens Property Insurance Corp. filed for a near-maximum-allowed rate increase for most of its policies, citing the need to continue depopulating the rapidly growing insurer of last resort. Last week, despite concerns that Citizens’ premiums are significantly …
NYC, Miami, Tampa, New Orleans Tops Among Storm-Surge Exposed Cities
New York, Miami, Tampa, and New Orleans are the metro areas with the most single-family homes at risk of heavy damage from storm surge during hurricanes, according to a report released by CoreLogic, a property data analytics firm. Using housing …
SMBs Are Struggling to Get Cyber Insurance: Here’s How to Stay Protected
For the first time ever, cyber insurance is facing a hard market. Since the product line’s inception about twenty years ago, carriers, brokers, and policyholders have reaped the benefits of soft market conditions. Policies were cheap, and they provided generous …
Rise of Women to Top UK Financial Services Roles ‘Stagnating’
Britain’s six-year drive to increase the number of women in senior management at financial firms is “stagnating” for the first time, a review for the finance ministry said on Thursday. The ministry launched its voluntary Women in Finance Charter in …
Gallagher Re Launches Climate Risk Resilience Practice, Led by World Bank’s Bavandi
Gallagher Re, the global reinsurance broker, announced it has launched a global practice focusing on public sector and climate resilience solutions, with responsibility for developing Gallagher Re’s core offering globally and driving profitability as well as developmental impact. Antoine Bavandi …
People Moves: Miller Expands Into Media & Entertainment; Aon Re Names Carpenter’s Toffanello Head of Italy; SiriusPoint’s Sawyer Rejoins AXA XL for U.S. Casualty Re
This edition of International People Moves details appointments at insurance broker Miller, Aon Reinsurance Solutions in Italy, and AXA XL. A summary of these new hires follows here. Miller Expands Into Media & Entertainment With Bramwell Hire Miller, the London-based …
Europe Asset Managers Eye Halting Non-ESG Products to Meet Net-Zero Goals: Survey
Over two-thirds of European asset managers and distributors are considering halting the launch or distribution of products that do not comply with environmental, social and governance (ESG) standards, a survey by PwC Luxembourg showed on Monday. Flows into ESG funds …
Generali Investor Del Vecchio Dies at 87
Leonardo Del Vecchio, the Italian entrepreneur who started with a tiny optics workshop in the Dolomite mountains and ended up as the undisputed world leader in eyewear, has died. He was 87. His death was reported by Italian daily Corriere …