INSURANCE NEWS
Insurance Company Poised to Drop Idaho County’s Coverage
An insurance company that covers counties and other public entities in Idaho says it won’t renew Canyon County’s insurance policy because of increasing risks and a high volume of claims. The Idaho Counties Risk Management Program, known as ICRMP, sent …
Reuters: Behind Amazon’s 13,000 Disciplinary Notices at New York Warehouse
Amazon worker Gerald Bryson had hand-counted thousands of items in his warehouse’s inventory over three days when his manager showed him a “Supportive Feedback Document.” Bryson had made 22 errors, the 2018 write-up said, including tallying 19 products in a …
Most U.S. Small Businesses Worry Recession is Coming
Some 93% of small business owners are worried that the United States will enter a recession in the next six months, a survey released by Goldman Sachs showed on Wednesday, with a majority of firms saying the country was headed …
People Moves: GCube Names Two in Underwriting; MS Amlin Adds Barnes to Marine; RiverStone Names M&A Head, Underwriter
GCube Names Shimal, Litterick to Underwriting Posts Renewable energy specialist GCube Underwriting, a member of the Tokio Marine HCC group of companies, has appointed two people to senior positions within the organisation. Josh Shimali, who has been with the business …
Appeals Court Revives Roundup Weedkiller Cancer Lawsuit
A federal appeals court on Tuesday revived a lawsuit by a Georgia man claiming Bayer AG’s Roundup weedkiller caused his cancer, the latest in a string of legal defeats for the company as it seeks to avoid potentially billions of …
BevCap Buys Dealer Risk, Expanding Captive Management Services
BevCap Management, an alternative risk and captive management firm, has acquired Florida-based Dealer Risk Services, a group captive insurance program. BevCap, which manages BevCap Captive Group, called it a vertical integration that will allow the firm to expand its platform. …
People: Fenderson to Kinetic, NCDOI Deputy Osborne to Academia
Kinetic Names Fenderson Regional VP Kinetic, a maker of wearable technology for industrial worker safety, has named Troy Fenderson of North Carolina regional vice president. Fenderson, who lives in Mooresville, North Carolina, will oversee insurance distribution, business development and broker …
Court Orders 4 Ex-Tepco Execs to Pay $95B Damages Over Fukushima Disaster
The Tokyo district court on Wednesday ordered four former executives of Tokyo Electric Power Company (Tepco) to pay 13 trillion yen ($95 billion) in damages to the operator of the wrecked Fukushima Dai-ichi nuclear power plant, the plaintiff’s lawyers said. …
Woman Killed When Van Accelerates into Runners at North Carolina Race
A woman was killed and at least three people were injured when a van ferrying people to a runners’ race in North Carolina crashed into a crowd, authorities said. The N.C. State Highway Patrol said Friday that race participants and …
The Global Urgency of Building the Carbon Removal Industry
“If you build it, they will come.” This famous, but paraphrased, quote from the film “Field of Dreams” is apropos of the fledging carbon removal industry. The demand is there, but supply needs to be built. The carbon removal industry …
Insurance Industry Support of Carbon Removal Needed in Drive to Net Zero
Ditching investments in fossil fuel businesses—and denying them insurance—aren’t the only ways for the insurance industry to participate in the drive to net zero greenhouse gas emissions, according to representatives of global insurers and reinsurers. Even those companies that are …
Twitter Sues to Force Musk to Consummate $44 Billion Buyout
Twitter Inc. sued billionaire Elon Musk over his abandoned $44 billion takeover bid, asking a judge to force him to follow through on his offer. Lawyers for Twitter told a Delaware judge that the world’s richest man failed to honor …