INSURANCE NEWS
Texas Attorney General Opens Investigation Into Walmart’s Opioid Sales
Texas Attorney General Ken Paxton said on Tuesday he was investigating whether Walmart WMT.N improperly filled prescriptions and failed to report suspicious orders when selling opioid drugs. Paxton said he had opened a civil investigation into Walmart’s potential violations of …
S&P Puts SiriusPoint on CreditWatch Neg. After CEO, COO Exits; SiriusPoint Comments
SiriusPoint, the Bermuda-based global specialty insurer and reinsurer, has responded to the recent decision by S&P Global Ratings (S&P) to place the company and its core subsidiaries on CreditWatch, with negative implications. SiriusPoint currently has an “A-” insurer financial strength …
Massachusetts OSHA Plan for Public Sector Gets Initial Federal Nod
The federal Occupational Safety and Health Administration (OSHA) has given preliminary approval to a new occupational safety and health plan for Massachusetts state and local employers and their employees. If given final approved after a comment period, the Massachusetts OSHA …
Like Bonnaroo Fest in Tenn, Outdoor Venues Facing Challenges with Climate Change
Since its debut on a rural Tennessee farm two decades ago, the Bonnaroo Music and Arts Festival strived to be one of the country’s greenest music festivals, investing in recycling, composting, solar energy and other improvements. But last August Tennessee …
Mass Shooting Insurance Rates Jump as Incidents Rise
The cost of buying insurance protection against mass shootings has spiked more than 10% in the United States this year following a string of deadly events, insurers said. The United States witnessed 293 mass shootings so far this year, according …
‘It’s Not Been Fun’: Cyber Insurance Brokers Seek Consistency as Hard Market Settles
Alexandra Bretschneider said it feels like she has been a part-time grim reaper the last two years. The cyber practice leader at broker Johnson, Kendall & Johnson said, “I am just constantly delivering bad news.” Providing a perspective of the …
Georgia Doc Sentenced in Scheme That Implicated Former Insurance Commissioner
An Atlanta-area physician and owner of medical clinics has been sentenced to 36 months in prison for defrauding health insurance companies, a scheme that also has led to the indictment of former Georgia Insurance Commissioner John Oxendine. Dr. Jeffrey Gallups …
Family Sues Bowling Green in Ohio in Hazing Death
The family of a student who died from alcohol poisoning while pledging a fraternity sued Bowling Green State University, alleging the Ohio school knew about but didn’t stop hazing in Greek life there and should be held responsible. The university …
More Federal Wildfire Recovery Aid Available For New Mexico
U.S. President Joe Biden authorized an increase in funding for debris removal and other emergency measures being taken as a result of a historic wildfire season in New Mexico that stemmed partly from missteps by federal forest managers in starting …
People Moves: BMS Promotes Gormley to UK CEO; Schepers Named Head of WTW Insurance Consulting and Technology as Underwood Retires
This edition of International People Moves details appointments at the brokers BMS and Willis Towers Watson (WTW). A summary of these new hires follows here. BMS Promotes Gormley to UK CEO BMS, the London-based independent specialist re/insurance broker, announced that …
U.S. Power Companies Face Supply-Chain Crisis This Summer
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought …
Florida Driver Could Get $12M After Insurer Did Not Respond to Settlement Offer
A Florida accident victim gets a second chance to compel an auto insurer to pay a $12.7 million judgment after the insurer failed to respond to a $10,000 settlement offer, a federal appellate court ruled Tuesday. A divided panel of …