INSURANCE NEWS
Texas Stock Exchange Receives Federal Approval
The Texas Stock Exchange last week crossed its latest hurdle toward becoming a direct competitor to the dominance of the New York Stock Exchange and the Nasdaq. The announcement that the U.S. Securities and Exchange Commission had approved the Dallas-based …
ALDOI to Hold Hearing on Planned ProAssurance Merger with FD Insurance
The Alabama Department of Insurance will hold a public hearing next week on the proposed merger of a ProAssurance unit and FD Insurance – the latest of many financial moves for both companies in the last decade. ProAssurance Indemnity Co., …
J&J Must Pay $966M After LA Jury Finds Company Liable In Talc Cancer Case
A Los Angeles jury late on Monday ordered Johnson & Johnson to pay $966 million to the family of a woman who died from mesothelioma, finding the company liable in the latest lawsuit alleging its baby powder products cause cancer. …
Will Airport Runway Close Calls Spur Wider Adoption of Cockpit Alert Technology?
As a Boeing 757 aircraft prepared to land, an audio alert started blaring in the cockpit: “Traffic on runway! Traffic on runway!” Seconds later, the same warning popped up on the navigation display. It prompted the pilot to abort the …
Construction Supervisor on Maryland Projects Admits to Stealing Wages
A York, Pennsylvania construction supervisor pleaded guilty to participating in a scheme that defrauded construction workers of wages on University of Maryland projects, officials have reported. According to Maryland Attorney General Anthony G. Brown, a judge in the Circuit Court …
Georgia Man Indicted After Fishing Tournament Boat Crash That Killed 3 in Alabama
A Georgia man has been indicted on manslaughter charges in Alabama after an April boat wreck during a professional fishing tournament killed three people and injured two others. Flint Andrew Davis, 22, was indicted Thursday in Cullman County on three …
All Injured in Deadly NC Waterfront Bar Shooting Released from Hospital
All six people hospitalized after a coastal North Carolina shooting last weekend that left three dead at a waterfront bar have been released, officials announced Friday. Southport officials initially said five people were wounded in the rifle attack on the …
M&A Settlements in Delaware Chancery Court Have Increased Substantially: Cornerstone
The number and total aggregate amount of settlements in merger and acquisition (M&A)-related lawsuits in the Delaware Court of Chancery have increased substantially since 2019, with the total aggregate settlement amount exceeding $600 million in 2024, according to a report …
Markets/Coverages: HSB Launches Cyber Risk Solution for SMEs in UK and Ireland
Specialist engineering and technology insurer, HSB, has launched a cyber insurance and incident response solution specifically designed for micro and small businesses in the UK and Ireland with revenues of up to £10 million (US$13.5 million). HSB CyberPro provides comprehensive …
Charlie Javice Duped JPMorgan Out of $175 Million. The Bank is Picking Up Her Legal Tab
JPMorgan Chase & Co. was hit with $115 million in lawyers’ bills for Charlie Javice and a second executive convicted of defrauding the bank, yet another twist in a years-long legal saga that’s captivated Wall Street. The defense tab, revealed …
People Moves: Arch Insurance Int’l Taps Beazley’s Reid as Head of Business Solutions; Allianz Commercial Promotes Raven as Head of Large Corporate Liability in UK
This edition of International People Moves details appointments at Arch Insurance International and Allianz Commercial. A summary of these new hires follows here. Arch Insurance Int’l Taps Beazley’s Reid as Head of Business Solutions Arch Insurance International announced the appointment …
Fire at Ford Supplier in New York to Disrupt Business for Months, WSJ Reports
A fire that broke out at Novelis’ New York plant in Oswego will disrupt business at Ford and other automakers for months, the Wall Street Journal reported on Monday. Ford, the biggest user of the plant’s aluminum, will likely flag …