INSURANCE NEWS
Louisiana Suit Alleging Off-Camera Jail Beatings Revived
A federal appeals court cleared the way last Friday for a lawsuit to proceed against guards and officials at a privately run north Louisiana jail where an inmate died with a fractured skull in 2015. The lawsuit by family members …
Reinsurance Capital To Drop $40 Billion at Year-End 2022: AM Best
AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected 8.4% decline to $435 billion for 2022 from …
Big Legal Battle Brews Over Nevada Dorm Blast as Students Return
Three years after a gas explosion ripped through a University of Nevada dormitory, hundreds of students will start moving into the remodeled building this week as a legal battle looms over more than $100 million in damages. School officials likened …
Tanker in Yellowstone Spills Nearly 5,000 Gallons of Gasoline
A tanker truck hauling gasoline in Yellowstone National Park rolled over and spilled an estimated 4,800 gallons, officials said. An investigation was underway to determine whether any of the unleaded gas entered an area creek. The truck’s driver lost control …
Report Questions Lydecker’s Appointment to Florida Citizens Insurance Board
Three months after Charlie Lydecker was appointed to the Florida Citizens Property Insurance Corp. Board of Governors, some are questioning that appointment after his involvement with another, highly criticized program that provides care for brain-injured children. The Miami Herald newspaper …
Berkshire Unit Sued Over California’s Largest Wildfire of Season
A Berkshire Hathaway Inc. unit was sued for allegedly causing California’s largest wildfire of the year, which killed four people and destroyed almost 200 structures near the Oregon border. The complaint against PacifiCorp, a power utility based in Portland, Oregon, …
Confusion About ESG Prompts EU Watchdog to Urge Rethinking of Rules
Europe’s markets watchdog is calling for a rethink of the region’s ESG investing rulebook after finding that the existing framework is being misinterpreted. At issue is the tendency of fund managers and their clients to treat the EU’s disclosure regime …
Cyber MGA At-Bay Acquires Tech-Solutions Provider Relay
At-Bay, the San Francisco-based managing general agent, announced the acquisition of Relay, a technology solutions provider that enables the digital transformation of commercial insurance placements. Financial details of the transaction were not disclosed. Founded in 2019, Relay has built a …
Jury Awards Virginia Landlord $50K Over Being Tasered in False Arrest
A jury has awarded $50,000 to a northern Virginia landlord who was shot three times with a stun gun when sheriff’s deputies wrongly arrested him following a tenant’s complaint. Matthew Souter, 57, of The Plains, Virginia, was arrested at his …
Cause of New York Injury Lawyer’s Fatal Plane Crash Still Under Investigation
Federal investigators haven’t been able to determine why a prominent personal injury attorney lost control of his plane and crashed in 2020, killing him and a passenger. The crash near Corfu, about 15 miles (24 kilometers) east of Buffalo, killed …
Huge Fire Ruins Boats, Buildings, Vehicles at Cape Cod Marina
A huge fire at a Massachusetts marina turned several boats, buildings and vehicles into burned-out shells Friday, producing a plume of black smoke so thick it was picked up by weather radar. Aerial video taken by WCVB-TV showed much of …
Couple’s Lawsuit Claims Black and White Bias in Home Appraisals
How much does it pay to hide the photos of your family at your home, or anything else that shows your race? If you’re Black and trying to find out how much your house is worth, one family suggests it …