INSURANCE NEWS
Taiwan Life Insurers’ $700 Billion Bet on the US Is Backfiring
For decades, Taiwan’s life insurance companies boasted of above-average returns from their heavy investment in US bonds. That reliance is now a major risk threatening more than $700 billion of assets. Unlike insurers in other countries like Japan where diversification …
Former Cowboys Player Charged in Dallas Crash That Killed Motorcyclist
Former NFL player Kelvin Joseph is facing charges for his involvement in a crash that killed a female motorcyclist on a Dallas-area freeway, The Dallas Morning News reported. Police in the Dallas suburb of Richardson said on social media that …
Musk Pins Tesla’s Comeback on Robotaxis After Retreat From Feud
Tesla Inc. already had a lot riding on its highly anticipated robotaxi launch long before Elon Musk decided to swing a wrecking ball through his alliance with President Donald Trump — and the company’s share price. Now investors are looking …
Manufacturer Fined $500K for Violating OSHA Rule Leading to Ohio Worker’s Death
Fabcon, a Delaware corporation with a manufacturing facility in Ohio, was sentenced to pay a $500,000 fine, the statutory maximum, after pleading guilty to willfully violating an Occupational Safety and Health Administration (OSHA) rule, the Department of Justice announced. In …
Michigan State Reaches $30M Settlement With 3 Survivors of 2023 Mass Shooting
Michigan State University has reached settlements worth about $30 million with three students who survived a mass shooting in 2023, attorneys said Tuesday. Three students were killed and five more were wounded when a man with no connection to the …
Another Insurer — Philadelphia Insurance— Reports Network Outage
Philadelphia Insurance Co. is currently experiencing a network outage that is affecting its systems. This outage has knocked out the insurer’s phone and email systems, as well as customer access to online applications. “We are working to resolve this issue …
Erie Insurance Reports Data Securtity Breach Caused Network Outage
On Wednesday Erie Indemnity Co. reported that the network outage that has affected all of its systems for five days and is continuing to do so was the result of a data security breach. In a filing with the Securities …
People Moves: Verisk Promotes White and Gregory; Alliant Hires Paul to Lead New Transportation Vertical
Verisk Promotes White and Gregory Verisk’s Property Claims Services (PCS), headquartered in Jersey City, New Jersey, named Harry White as the new head of commercial strategy and Ted Gregory as head of research and operations. White has been with Verisk …
Trump Tariffs May Remain in Effect While Appeals Proceed, US Appeals Court Rules
A federal appeals court allowed President Donald Trump’s most sweeping tariffs to remain in effect on Tuesday while it reviews a lower-court decision blocking them on grounds that he had exceeded his authority by imposing them. The decision by the …
Uber Alleges Insurance Fraud Scheme in Florida as It Goes on Legal Offensive
Uber Technologies Inc. sued a group of lawyers, medical providers and rideshare drivers it claims staged car accidents, manufactured damages and received unnecessary medical procedures to take advantage of insurance policies in Florida, costing the rideshare giant “several million dollars” …
Louisiana Bill Expands Lawsuits Against Out-of-State Abortion Providers
Louisiana lawmakers on Tuesday approved a measure that targets out-of-state doctors and activists who prescribe, sell, or provide pregnancy-ending drugs to residents in the reliably red state where abortions are banned with few exceptions. Louisiana law already allows women to …
Judge Dismisses Baldoni’s Defamation Suits Against Actress Lively, NY Times
A judge on Monday dismissed the lawsuit that actor and director Justin Baldoni filed against his “It Ends With Us” costar Blake Lively after she sued him last year for sexual harassment and retaliation. U.S. District Court Judge Lewis Liman’s …