INSURANCE NEWS
Atlantic Hurricane Season May Get Boost From Lingering La Nina
La Nina will probably stick around for at least several more months, potentially leading to more hurricanes and tropical storms across the Atlantic during the heart of the season. There’s now a 62% chance of cool waters across the equatorial …
Alabama Closes Bond Deal to Build Two Mega-Prisons
Alabama on Tuesday closed a $509 million bond deal to help build two supersize prisons amid lawsuits by inmates bidding to block the project. The Alabama Finance Department confirmed that the bond sale, which had been approved last month, was …
People Moves: Aon Adds 3 to M&A; Shing Heads AXA XL International Casualty; UIB Marine Welcomes Waller
Aon Adds 3 to M&A and Transaction Practice in the UK Global broker Aon has strengthened its Mergers & Acquisitions and Transaction Solutions team in the UK with the appointments of Sam Bridges, Tanya Hickson, and Guy Ruddy. Bridges joins …
Alex Murdaugh’s Lawyer Says State Ready to Pursue Murder Charges
A lawyer for disgraced South Carolina attorney Alex Murdaugh said Tuesday that investigators have indicated they intend to pursue murder charges against him for the deaths of his wife and son, who were fatally shot outside their home more than …
Lawsuit Challenges New York’s Revised Gun Safety Law
A federal lawsuit challenging part of New York’s new gun law was filed by Republican congressional candidate Carl Paladino, one of multiple legal challenges expected against state handgun licensing rules approved after a recent Supreme Court ruling. New York lawmakers …
Settlement Delays Likely to Worsen UK Motor Insurance Claims Inflation, WTW Finds
Delays in motor claims processing may be hiding the true threat of inflation to insurers, according to global broker WTW in a benchmarking report that concludes that UK motor claims inflation is expected to accelerate in 2022. The inflation rate …
VW Sees EU Top Court Ruling Against Its Emissions Software as Confirmation
Volkswagen’s software that altered car emissions constituted an illegal defeat device in certain driving conditions, the EU’s top court ruled on Thursday, while the automaker said the ruling confirmed its software was legal. The Court of Justice of the European …
Nordic Insurer Finds Longer, More Expensive Trips More Popular Now Than Before COVID
Long-haul travel is back among Danes and even more popular than before the COVID-19 pandemic, as pent-up wanderlust increasingly drives them to venture outside Europe’s borders, Scandinavia’s largest insurer Tryg said on Tuesday. “Whereas last year we traveled a little …
Virginia Declares State of Emergency Due to Severe Flooding
Virginia Governor Glenn Youngkin declared a state of emergency Wednesday to assist with response and recovery efforts in the wake of heavy rainfall and severe flooding. Officials estimated that 44 people are missing and more than 100 homes have been …
Uber Sued by More Than 500 Female Passengers Over Sexual Assault Complaints
Uber Technologies Inc. is being sued by more than 500 women across the US who claim to have been assaulted by drivers on the platform. The complaint, filed by Slater, Slater, Schulman LLP in San Francisco, alleges that women were …
How Amazon Thinks About Auto Insurance for Delivery Service Partners
Amazon runs an auto insurance program for its delivery service providers, but if those DSPs choose to buy their insurance from competitors instead, Amazon is fine with that. In fact, Amazon might prefer it if their insurance customers buy coverage …
Allergan, Teva to Pay $54M in San Francisco Opioid Lawsuit
Opioid makers Allergan and Teva have agreed to pay $54 million in cash and overdose reversal drugs to settle a federal lawsuit brought by San Francisco alleging the drug industry fueled an overdose and addiction surge that created a public …