INSURANCE NEWS
New Zealand to Ease Strengthening Rules on Quake-Prone Buildings
New Zealand is changing the way it assesses earthquake-prone buildings in an attempt to reduce costs and confusion for owners. The government is implementing clearer definitions to identify buildings that pose a genuine risk to human life in medium and …
Jaguar Land Rover Seeks £2 Billion Lifeline to Tide Over Cyberattack
Tata Motors Ltd.-owned Jaguar Land Rover is raising £2 billion ($2.7 billion) loan from global banks as the luxury carmaker seeks to ease the financial strain of a cyberattack that forced it to halt production, according to people familiar with …
Sony Financial Soars in Spinoff Listing in Tokyo Trade Debut
Sony Financial Group Inc. surged in its Tokyo debut on Monday after a rare spinoff-listing by Sony Group Corp.,which is sharpening its focus on its entertainment and image sensor businesses. The shares opened at ¥205 and rose as high as …
Judge Rules Feds Can’t Withhold Disaster Relief Until States Cooperate on Immigration
A federal judge in Rhode Island ruled on Wednesday that it’s unconstitutional to require states to cooperate on immigration enforcement actions to get funding for disasters, which is overseen by the Federal Emergency Management Agency. A coalition of 20 state …
Boeing to Pay $50,000 Over Suicide of Quality Inspector
Boeing Co. agreed to pay at least $50,000 to settle a wrongful death lawsuit brought by the family of John Barnett, a whistleblower who took his own life last year. Barnett, a former Boeing employee, died in March 2024 at …
Hanover Must Pay Rock Singer $2M in Case of Memphis Studio Arson, Court Says
Recording artist John Falls finally should see more than $2 million from a Hanover American insurance policy in the long-simmering case of an historic Memphis recording studio that was damaged in an arson fire and resulted in the studio owner …
Former Police Officers Convicted in Arson and Fraud Conspiracy
A federal jury found two former Maryland police officers guilty of wire fraud, arson and insurance and bank fraud. Philip James Dupree, of Pikesville and Mark Ross Johnson, Jr., of Camp Springs were found to have conspired with others to …
Plane That Overshot Virginia Runway Is Third Stopped By a Safety System This Month
No injuries were reported after a commercial regional jet overshot the designated touch down zone at a Virginia airport amid heavy rain last Wednesday night, but was stopped in a safety area at the end of the runway, officials said. …
Fire Fund Helps Raise PG&E to Investment Grade Six Years After Bankruptcy
PG&E Corp., which filed for bankruptcy in 2019 following devastating blazes, was upgraded to investment grade by Fitch Ratings after the California legislature boosted the size of a fire insurance fund. The ratings agency attributed the upgrade to the approval …
Korean Insurer DB to Buy Fortegra for $1.65 Billion in US Foray
South Korea’s DB Insurance Co. agreed to buy US specialty insurer Fortegra Group for $1.65 billion, in what would be the biggest US acquisition by a non-life insurer from the country. The Seoul-based company will purchase 100% of Fortegra’s outstanding …
Inszone Acquires Arkansas Best Insurance Agency
Inszone Insurance Services announced its expansion into Arkansas through the acquisition of Arkansas Best Insurance Agency, Inc., a long-standing independent agency based in Hot Springs, Arkansas. Founded in 1905, Arkansas Best Insurance Agency has proudly served clients across Arkansas and …
Part of Hospital’s Roof Ripped Off as Damaging Storms Hit Oklahoma
Storms carrying heavy rain and damaging winds ripped part of the roof off a hospital in eastern Oklahoma on Tuesday afternoon, forcing some patients to be evacuated, according to county officials. The Northeastern Health System hospital in Sallisaw had to …