INSURANCE NEWS
California Suit That Claimed Fox Sports Ex-Host Harassed Stylist Has Been Mostly Resolved
A woman who worked as a hairstylist for Fox Sports has resolved most of a lawsuit that alleged former host Skip Bayless made repeated, unwanted advances toward her — including an offer of $1.5 million to have sex with him. …
Direct Home Insurer Kin Raises $50M in Series E Financing
Direct-to-consumer homeowners insurer Kin said it has raised an oversubscribed $50 million Series E financing, at a pre-money valuation of $2 billion. The digital insurer also closed on a $200 million debt facility, $145 million of which was used to …
Markets/Coverages: Everest Introduces EverBuild for Evolving Construction Risks
Everest Insurance, the insurance division of Everest Group, recently announced the launch of EverBuild, an enhanced Builder’s Risk coverage form. EverBuild underscores the company’s long-standing commitment to supporting the construction industry with tailored, innovative solutions. The updated form was developed …
Judge Approves Chapter 11 Plan for Rochester Diocese With $246M Claims Fund
A federal bankruptcy judge on Friday signed off on a $246 million fund to pay abuse claims as part of the Catholic Diocese of Rochester’s Chapter 11 reorganization plan to emerge from bankruptcy. Having witnessed six years of bankruptcy proceedings, …
People Moves: Ames & Gough Promotes Four Executives
Ames & Gough, headquartered in McLean, Virginia, appointed Lauren Martin and Jessie Witherow as vice presidents and of Nicole Gonzalez and Katie O’Brien as assistant vice presidents. All four executives are based in the firm’s Washington, D.C., office. Martin joined …
How Fast Will the Reinsurance Market Soften?
A softer reinsurance market will prevail during the Jan. 1 reinsurance renewals. The only question is how much more softening will happen and how fast, leaders of Guy Carpenter said during a recent media briefing. Laurent Rousseau, Guy Carpenter’s chief …
New York Attorney General Settles Lead Paint Complaint Against Major Buffalo Landlord
New York Attorney General Letitia James announced a resolution of her office’s lawsuit to protect Buffalo children and families from lead poisoning in their homes. An agreement filed Friday in Erie County Supreme Court settles the lawsuit and requires the …
Google Hit With $3.45 Billion EU Antitrust Fine Over Adtech Practices
Alphabet’s Google was hit with a 2.95-billion-euro ($3.45 billion) European Union antitrust fine on Friday for anti-competitive practices in its lucrative adtech business, a sharp sanction that riled up U.S. President Donald Trump. The fine, the fourth penalty Google has …
Judge Dismisses Lawsuit Against Detroit Officer in Facial Recognition Arrest
A judge has dismissed a lawsuit against Detroit police in the wrongful arrest of a pregnant woman who was charged in a carjacking partly because of facial recognition technology. Porcha Woodruff, who was eight months pregnant, spent 10 hours in …
S&P Warns of Reinsurer Protections as Catastrophe Risks Escalate
As natural catastrophes become more frequent and destructive, a key backstop intended to help cover losses has gotten harder to access. The reinsurance industry, which exists to help primary insurers cope with losses when disaster hits, has taken significant steps …
New Texas Laws Ban Youth Cabins in Floodways, Require Camp Safety Plans
In the days and weeks following the death of his 9-year-old daughter, Lila, at Camp Mystic in the Texas Hill Country, Blake Bonner found himself wondering whether the tragedy was simply an unstoppable act of God, or if something could …
Two Marquette Men’s Lacrosse Players Killed in Car Wreck
Two members of the Marquette men’s lacrosse team were killed in a car wreck Friday night near the school’s campus in downtown Milwaukee. Marquette officials confirmed that Scott Michaud and Noah Snyder died in the crash. A Mass was held …