INSURANCE NEWS
Charter Spectrum Hit With $7.3B Verdict in Texas over Murder of 83-Year-Old
Charter Communications was hit with a combined $7.37 billion verdict – including $7 billion meant to punish the company – for systemic safety failures that led to the robbery and stabbing death of an 83-year-old woman by a cable repairman …
3M Unit Goes Bankrupt in Bid to Resolve Lawsuits Over Military Earplugs
3M Co. put its Aearo Technologies unit into bankruptcy in a bid to resolve more than 230,000 lawsuits brought mainly by US military veterans over allegedly faulty combat earplugs. The conglomerate has already spent nearly $350 million defending the sprawling …
Corvus Insurance Opens Frankfurt Office
In what Corvus said is a first for a U.S.-based insurtech, the managing general agent has opened an office in continental Europe. This Boston-based company’s new office will be in Frankfurt, Germany. “Frankfurt is located within the largest insurance market …
Record Rainfall Causes Widespread Flooding Across St. Louis Region
Record rainfall caused widespread flash flooding across the St. Louis area early Tuesday, closing multiple roadways and prompting rescues from vehicles and homes. There were no immediate reports of injuries, but damage was widespread after a massive downpour dropped more …
Crist Slams DeSantis for Florida Insurance Crisis; Fried Blames Crist
U.S. Rep. Charlie Crist, the Democratic frontrunner for governor of Florida, this week sharply criticized incumbent Gov. Ron DeSantis for failing to solve the state’s property insurance crisis. “Ron DeSantis has been the worst governor in Florida history on property …
Alaska City Continues Long Recovery from Late 2020 Landslides
More than a year and half after the Haines landslides, organizations, both local and out-of-state, are still helping to repair damage from the dozens of landslides that occurred around the borough. That recovery work has evolved over time, said members …
Trial Begins for Truck Driver Charged in New Hampshire Crash That Killed 7 Motorcyclists
The trial for a commercial truck driver charged with causing the deaths in 2019 of seven members of a Marine motorcycle club will open Tuesday, more than three years after the crash in northern New Hampshire. Jurors visited the crash …
People Moves: American Family’s McElwee Takes Over at Plymouth Rock as Long-Time Leader Belodoff Retires
The Plymouth Rock Co., parent company of auto and home insurance providers in the Northeast, announced that Andrew McElwee is its new president and chief operating officer, having taken over responsibility for the firm’s day-to-day operations from Hal Belodoff, following …
People Moves: Mann New Verisk CFO; Furlong SVP at Acrisure Re; NFP Hires Michaelson to Energy Practice
Verisk Names Elizabeth Mann Chief Financial Officer Elizabeth Mann has been named executive vice president and chief financial officer for Verisk, effective September 15, 2022. As CFO, Mann will lead Verisk’s global finance organization which includes accounting and controllership, financial …
‘Cryptojacking’ Attacks on Financial Firms Surged in First Half
Hackers are increasingly targeting financial firms such as banks and trading houses with attacks designed to use their computer systems to mine cryptocurrencies, according to cybersecurity firm SonicWall. The number of so-called cryptojacking attacks on financial companies more than tripled …
Lloyd’s Insurers Preparing to Cover Ukraine Grain
Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on Wednesday. Russia and Ukraine signed a deal on Friday, …
Third Person Dies After Suspicious House Fire in Nashville
A third person has died from injuries after a suspicious house fire in Nashville, Tennessee, police said. Michael Young, 44, was pronounced dead at at Vanderbilt University Medical Center, Nashville police said Sunday in a statement. Two others died Saturday …