INSURANCE NEWS
Trump Bid to Deploy Troops in Chicago Again Denied by Court
A federal appeals court refused a request by the U.S. government to pause a judge’s order that blocked President Donald Trump from deploying National Guard troops to Chicago. A three-judge panel of the 7th U.S. Circuit Court of Appeals on …
Smucker Sues Trader Joe’s in Ohio, Saying New PB&Js Are Too Like Uncrustables
The J.M. Smucker Co. is suing Trader Joe’s, alleging the grocery chain’s new frozen peanut butter and jelly sandwiches are too similar to Smucker’s Uncrustables in their design and packaging. In the lawsuit, which was filed this week in federal …
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims
A Bermuda captive that insured several New York hospitals affiliated with a leading Jewish not-for-profit organization says it is insolvent, citing millions of dollars in child sex abuse claims brought against it under the state’s Child Victims Act (CVA). Northeast …
Chamber of Commerce Sues Over Trump’s $100,000 H-1B Visa Fee
The nation’s largest business lobbying group sued the Trump administration over its changes to the visa system for skilled foreign workers, teeing up a fresh battle between corporate America and the president. The US Chamber of Commerce said in a …
An Unsustainable Trend – Declining P/C Rates and Rising Cost of Risk: Marsh’s Doyle
Property/casualty prices are declining, while the cost of risk continues to rise – a trend that is unsustainable over time, according to John Doyle, president and chief executive officer of Marsh McLennan (MMC). Nevertheless, without significant changes in large loss …
Markets/Coverages: Resilience Expands Tech E&O Coverage for Clients Above $25M
Resilience, cyber risk solutions provider, said it has expanded its appetite for technology errors & omissions (tech E&O) insurance to clients with more than $25 million revenue in the US, GBP50M in the UK and EUR 25M in the EU. …
UK Spy Chief Warns of AI Danger, Though Not Disaster-Movie Doom
AI systems acting without human control could one day pose a security threat, the head of Britain’s MI5 spy agency said on Thursday, although he said he was not predicting doom scenarios as depicted in sci-fi movies. Tech leaders have …
Tesla’s European Regulator Says Door Safety a ‘Key Priority’
Tesla Inc.’s safety regulators in Europe are joining an expanding global effort to more closely scrutinize the door handle design popularized by the world’s leading electric vehicle manufacturer. The Dutch authority RDW, which inspects and approves Tesla’s vehicles for sale …
Italy Plans to Get €11 Billion From Banks, Insurers in 3 Years
Italy’s government coalition has reached an agreement over a complex scheme that would see banks and insurers contributing about €11 billion ($12.8 billion) to its budget over three years. The contribution affecting the financial and insurance sector would be worth …
Vienna Insurance Group Offers to Buy Germany’s Nuernberger Beteiligungs for $1.61B
Vienna Insurance Group (VIG) said late on Thursday that it will acquire all shares of German insurer Nuernberger Beteiligungs AG for 1.38 billion euros ($1.61 billion) in cash. VIG will offer Nuernberger shareholders 120 euros per share, the insurer said …
Can a More Unified Front Be Formed Against Legal System Abuse?
To tell the public what it spends on insurance—largely effected by it calls legal system abuse—Uber has started to provide information on customers’ receipts. “To give you a sense of how bad the problem has gotten in certain places, our …
People Moves: Howden US Appoints Clark to Lead Private Risk Solutions; Krupowicz Named Head of Operations
Howden US, with U.S. headquarters in Depew, New York, appointed Joe Clark as president and Dale Krupowicz as head of operations for its private risk solutions business in the U.S. Clark and Krupowicz will lead the development of Howden’s U.S. …