INSURANCE NEWS
New York Accuses Drug Firm Teva of Lying About Opioid Role
New York’s attorney general on Monday said Teva Pharmaceutical Industries Ltd. lied to evade accountability for helping fuel the state’s opioid crisis, and should be restored to litigation where the Israeli company’s U.S. unit had been found liable. In a …
Quake-Triggered Tsunami Would Hit Seattle In Minutes, New Report Shows
A new study published by the Washington State Department of Natural Resources shows a tsunami triggered by a major earthquake beneath Puget Sound would arrive at Seattle shores sooner and reach farther inland than previously thought. Models showed a tsunami …
Nursing Home Denied ‘Unconscionable’ Arbitration Where Patient Was Blind, Alone
A Pittsburgh nursing home has been barred from relying upon an arbitration agreement to settle a family’s wrongful death complaint where the arbitration papers had been signed by the deceased woman when she was blind, on medication and in severe …
Lloyd’s Prefers to Stay in Landmark London Headquarters, With the Right Terms
Lloyd’s has decided to stay in its landmark headquarters building at One Lime Street in London – as long as it receives acceptable terms for the renewal of its lease. In January, the market reportedly was conducting a review of …
Fire Damages Historic, 17th-Century Veranda House Inn on Nantucket
NANTUCKET, Mass. (AP) _ A fire ripped through a historic landmark on Nantucket Saturday morning, leaving the centuries-old structure heavily damaged. Firefighters battled the blaze that tore through the Veranda House inn, which dates back to the late 17th century. …
Canada Recovering From Major Telecom Outage
TORONTO/OTTAWA, July 8 (Reuters) – Rogers Telecommunications said its network was beginning to recover late on Friday after a 19-hour service outage at one of Canada’s biggest telecom operators shut banking, transport and government access for millions, drawing outrage from …
China Moves to Improve Domestic, International Standards Across Industries
China on Friday published an action plan to improve domestic standards across industries while increasing its participation in international standard-setting, from smart cities to food safety. The plan details the tasks to be undertaken before the end of 2023 to …
China Regulator Says Banks, Insurers to Go ‘All Out’ to Bolster Lending
An official at China’s banking and insurance regulator said authorities will use policy tools “flexibly and precisely” at proper times to stabilize the economy, while banks and insurers will “go all out” to bolster funding. Authorities will support an “appropriate” …
Weather Whiplash: Record-Shattering Yellowstone Floods Expose Model Flaws
The Yellowstone National Park area’s weather forecast the morning of June 12 seemed fairly tame: warmer temperatures and rain showers would accelerate mountain snow melt and could produce “minor flooding.” A National Weather Service bulletin recommended moving livestock from low-lying …
Twitter Assembles Legal Team to Sue Musk Over Dropped Takeover
Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter. The social media …
An Invasive Creature is (Again) Threatening Florida Crops, Buildings, Trees
Invasive giant African land snails that can eat building plaster and stucco, consume hundreds of varieties of plants and carry diseases that affect humans have been detected once again in Florida, where officials said Thursday work has begun to eradicate …
Florida Insurance Agents Feeling the Heat from Roiling Marketplace
Dan Alexander has seen the worst of the Florida property insurance market from the inside-out – from agents who’ve quit to carriers that have gone insolvent or stopped writing new business, to having to manage policyholders that are mad at …