INSURANCE NEWS
3 Injured at Indianapolis Concert
Rapper Wiz Khalifa cut short a concert in suburban Indianapolis as people began fleeing the outdoor venue, leaving three with minor injuries, following a disturbance, police said. People started exiting the Ruoff Music Center in Noblesville about 10:30 p.m. Friday …
Texas Ambulance Company to Settle Sexual Harassment Lawsuit
Lone Star Ambulance, a San Antonio, Texas critical care transportation company, has agreed to pay $90,000 in damages and furnish other relief in order to settle a lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency …
Louisiana Town Settles Suit Over Released Video of Illegal Search
A Virginia law professor is set to receive an $86,000 payment for settlement of his civil lawsuit filed against the City of Baton Rouge. The settlement follows a federal court order in which U.S. District Judge John W. deGravelles found …
People Moves: Synergy Comp Names Blough President; Stedman Leads Lockton Northeast Benefits
Synergy Comp Appoints Blough as President Chris Blough has been named president of Synergy Comp Insurance Co., headquartered in Sharon, Pa. Blough began his career in financial services and has served as the president of a commercial finance company, the …
Texas, Federal Government at Odds Over Flood Relief Discrimination Suit
The faded and weathered construction permits still taped to Houston resident Mal Moses’ front door are reminders of the difficulties he faced in trying to get his mold-infested walls and leaky roof repaired after Hurricane Harvey in 2017. But living …
Win for Qualcomm as No EU Appeal Court Ruling Against $991M Fine
EU antitrust regulators will not appeal a court ruling scrapping its 997-million-euro ($991 million) fine against Qualcomm, people familiar with the matter said, in a major win for the U.S. chipmaker that ends a long-running saga. The Luxembourg-based General Court, …
Zelenskiy Says Crisis Averted as Russian-Held Ukraine Nuclear Plant Regains Power
President Volodymyr Zelenskiy said the world narrowly avoided a radiation disaster on Thursday as the last regular line supplying electricity to Ukraine’s Russian-held Zaporizhzhia nuclear power plant was restored hours after being cut. Zelenskiy blamed shelling by Russia’s military for …
Four Workers Hurt in Steam Release at North Carolina Paper Mill
Four workers were hurt at a North Carolina paper mill on Thursday, officials said. Four employees at WestRock’s mill in Roanoke Rapids were injured in an incident involving a steam release from a valve, WestRock spokesperson Robby Johnson said in …
Five Men Charged in Multi-State Catalytic Converter Theft Scheme
U.S. District Attorney Vanessa Roberts Avery in Connecticut announced the unsealing of a nine-count indictment that charges five men with federal offenses related to their participation in a stolen catalytic converter trafficking ring. The indictment, returned by a federal grand …
SEC Changes Whistle-Blower Award Rules to Boost Tipster Payouts
The US Securities and Exchange Commission changed its whistle-blower rules to give the agency more leeway to pay out hefty awards. Wall Street’s main regulator will be able to pay tipsters who help other government agencies that don’t have whistle-blower …
ILS Investors Could Help Fill Cyber Re/Insurance Protection Gap if Hurdles Are Overcome
The cyber re/insurance protection gap provides an opportunity for insurance-linked securities (ILS) investors, which historically have filled the gaps where traditional capital has either retrenched or is unavailable, according to a report published by S&P Global Ratings. “The demand for …
Viewpoint: Can the Florida Insurance Market Withstand Another Hurricane Andrew?
The wide-ranging impact of Hurricane Andrew on the Florida insurance market is a familiar story within the risk management world. However, 30 years on from August 24, 1992, when Andrew made landfall in Dade County, Florida, memories appear to be …