INSURANCE NEWS
Groups Push for Federal Court Rule to Disclose Litigation Funding
The Lawyers for Civil Justice and the U.S. Chamber of Commerce Institute for Legal Reform are seeking a federal rule to require the disclosure of third-party litigation funding. Currently, the matter is handled in federal courts with mixed results. According …
Gulf Energy Industry Will Take Years to Recover From Iran War
It took just days for the Iran war to hobble oil fields, refineries and gas plants across the Persian Gulf, but it could take years to restore their full potential as the conflict drags on. More than three weeks of …
Vortex Weather Launches Parametric Hail Product
Vortex Weather Insurance announced the formal launch of direct sales for its HailSafe parametric hail insurance product. Previously available only through third-party vendors, HailSafe can now be purchased directly from Vortex by brokers and weather‑exposed businesses, including open car lots, …
Texas to Ban Smokeable Hemp on March 31
New state rules that eliminate natural smokeable hemp products and increase licensing fees will go into effect at the end of the month. Hemp industry leaders say these new regulations will eliminate a majority of their inventory and force those …
People Moves: Maryland Appoints Two Associate Insurance Commissioners
Maryland Insurance Commissioner Marie Grant appointed Megan Mason as associate commissioner of life and health and Giri Govada as associate commissioner of operations and technology. Mason will oversee the agency’s life and health division, which is composed of the rates …
SoftBank’s Son Says Ohio Data Center to Be $500 Billion Project
SoftBank Group Corp. is developing a data center-focused project in Ohio so massive that Chief Executive Officer Masayoshi Son said it would channel $500 billion into a single campus. “We are going to do the largest construction project in the …
Valero Port Arthur Refinery Has Fire at Diesel Hydrotreater
Valero Energy Corp. responded to a fire in a unit at its Port Arthur refinery in Texas on Monday, adding pressure to a US fuels market that’s already seen prices skyrocket due to the Middle East war. A fire broke …
California Sues Department of Energy Over Sable Oil Pipeline Restart
California Attorney General Rob Bonta said on Monday he has sued the U.S. Department of Energy to stop it from using a Cold War-era law to restart the long-disputed Sable Offshore pipeline system linking the Santa Ynez offshore platform to …
Fire Destroys Historic Courthouse in Georgia
A fire that broke out Monday almost completely destroyed the 134-year-old Floyd County Courthouse in Rome, Georgia, leaving officials looking for new office space for some government functions, local news sites reported. The courthouse, built in 1892 and listed on …
FCC Bans Wireless Router Imports, Citing Security Concerns
The Federal Communications Commission ordered a ban on the import of new models of foreign-produced consumer wireless routers after an interagency panel determined they threaten national security. While the FCC said companies could apply for exemptions, the move could dramatically …
Mike Lynch’s Estate Refused Permission to Appeal in UK HP-Autonomy Case
The estate of late British tech tycoon Mike Lynch was on Tuesday refused permission to appeal a ruling by London’s High Court that he was liable to Hewlett Packard Enterprise over its acquisition of his firm Autonomy. The U.S. technology …
German Court Rejects Bid to Ban Mercedes and BMW’s Fossil-Fuel Cars
Environmentalists suffered a setback on Monday when Germany’s top appeals court threw out their cases seeking to ban Mercedes-Benz and BMW from selling new combustion-engine cars from November 2030. The federal court of justice in Karlsruhe upheld lower court rulings …