INSURANCE NEWS

Regulator Bars Texas Plant Restart Over Safety Concerns

The second-biggest U.S. liquefied natural gas export facility hit by fire earlier this month will not be allowed to repair or restart operations until it addresses risks to public safety, a pipeline regulator said on Thursday. The June 8 blast …
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Explainer: Will U.S. Supreme Court EPA Ruling Rein in Federal Regulators?

The U.S. Supreme Court on Thursday curtailed the Environmental Protection Agency’s ability to restrict greenhouse gas emissions from power plants in a 6-3 ruling that some legal experts said would more broadly curb the federal government’s regulatory power. Below is …
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Vertafore Acquires MGA Systems

Insurance technology vendor Vertafore reports that it has acquired MGA Systems, a provider of software for managing general agencies based in Melville, New York. Vertafore said the acquisition gives its customers access to policy administration and rating programs that will …
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New NHTSA Chief: Agency to Scrutinize Auto-Driver Technology

The new head of the government’s road safety agency says it will intensify efforts to understand the risks posed by automated vehicle technology, so it can decide what regulations may be necessary to protect drivers, passengers and pedestrians. In an …
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Tropical Storm Bonnie Forms Near Nicaragua in Caribbean

Tropical Storm Bonnie formed in the Caribbean east of Nicaragua, a dangerous system that threatens a potential humanitarian crisis but isn’t a major threat to oil and gas production in the Gulf of Mexico. With winds of 40 miles (64 …
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Ohio Vehicle Parts Manufacturer Faces $315,000 in Fines

An Ohio aluminum vehicle parts manufacturer cited for safety and health violations after a worker in Ravenna suffered fatal injuries in March 2021, continues to put workers at risk. The U.S. Department of Labor’s Occupational Safety and Health Administration found …
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Regulators: Amtrak Train Was Below Speed Limit Before Fatal Crash

An Amtrak passenger train was going about 87 mph (140 kph) when it collided with a dump truck at a rural Missouri railway crossing, killing four people, an official with the National Transportation Safety Board said Wednesday. The speed limit …
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State-Controlled RNRC Says It Now Covers Nearly All Russian Reinsurance

State-controlled Russian National Reinsurance Co. (RNRC) is covering nearly all reinsurance of domestic business, its president said on Friday, as foreign insurance firms withdrew their coverage following Western sanctions. “I can say that of today, nearly all Russian insurance market …
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North Carolina Assembly Sends Rental Home Elevator Safety Bill to Governor

Safety improvement requirements to prevent injury or death from elevators inside North Carolina vacation cottages and short-term rentals received final legislative approval on Wednesday. The House voted unanimously to accept a version of legislation passed in the Senate last week …
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UFC Star Charged in Shooting Sues California Day Care Owners over Alleged Molesting

Cain Velasquez, the former UFC heavyweight champion accused of trying to kill the man he claims molested his 4-year-old son, is suing the man and his family who own a day care where the alleged molestation occurred. Velasquez was arrested …
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Midyear Prop-Catastrophe Reinsurance Capacity Down for 1st Time in Decades: Aon

For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a new report released yesterday. While the reinsurance market remained stable on the casualty side, …
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Grocery Chain Wegmans Settles with New York Over Data Breach

The supermarket chain Wegmans agreed to pay $400,000 and upgrade its security practices over a data breach that exposed personal information of more than 3 million consumers nationwide, New York Attorney General Letitia James said on Thursday. Wegmans was accused …
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