INSURANCE NEWS
Oregon Regulator Shutting Down Health Sharing Company’s ‘Unlicensed’ Insurance Program
Oregon regulators ordered a health sharing company to stop selling coverage to residents, saying the company’s membership plans were functioning as unlicensed insurance. ClearShare Health was ordered to stop selling coverage by the Oregon Division of Financial Regulation, which began …
American Farmers Shun USDA Surveys as Trust in Data Erodes
American farmers are ignoring US Department of Agriculture surveys in the latest sign of distrust in government data. Reply rates for the USDA’s annual prospective planting report sank in March to a record low, with just over a third of …
Massive Explosion at NYC Home Sends Police Officers Flying
A massive, fiery explosion at a house in Queens sent several New York City police officers flying through the air early last Thursday morning as they were responding to a call of a man inside armed with a knife and …
UK Court Orders Samsung to Pay China’s ZTE a $392M Lump Sum After Patent Trial
Samsung Electronics must pay a $392 million lump sum for a license to use ZTE’s patents for mobile phones, London’s High Court ruled on Friday [May 1] in the English leg of the companies’ global licensing dispute. ZTE has brought …
New Mexico Seeks Changes to Meta Platforms in Youth Harm Trial
A trial is slated to begin in New Mexico on Monday that will test the state’s claims that Meta’s Facebook, Instagram and WhatsApp platforms harmed young users’ mental health and its bid for a court order forcing the company to …
Oliver Wyman to Acquire Restructuring Specialist CR3 Partners
Global management consulting firm Oliver Wyman has agreed to acquire CR3 Partners, a consulting firm specializing in restructuring, management consulting, and bankruptcy advisory services. The terms of the transaction, which is expected to close later this quarter, were not disclosed. …
Most Are Overcharged for Property Insurance, Vanderbilt Study Says
A new analysis suggests Americans are being overcharged by $150 billion annually to insure their homes, autos and businesses — and it proposes federal guardrails so that a public beset by affordability pressures could see savings. The analysis by the …
United Jet Hits Truck and Light Pole on Turnpike in Landing at Newark Airport
A United Airlines aircraft on Sunday struck a light pole and a trailer during its final approach to Newark Liberty International Airport, the New Jersey State Police said. The underside and tire of United Airlines Flight 169 struck a light …
Hedge Fund Fermat Invests in First-of-a-Kind Catastrophe Bonds
Fermat Capital Management has invested in the Asian Development Bank’s first-ever catastrophe bonds, designed to shield Kyrgyzstan and Tajikistan against specific types of natural disasters. The two sovereign bonds — each $80 million in size and with a three-year tenor …
FEMA Tells Court It’s Offering Jobs Back to Employees Let Go in January
An attorney representing the Trump administration informed a U.S. District Court Friday evening that the Federal Emergency Management Agency has begun offering new appointments to disaster workers whose contracts the agency did not renew in January, reversing a controversial decision …
Iran Says it Turns Back US Warship From Hormuz Strait, US Official Denies Missile Strike
Iran said it had forced a U.S. warship to turn back from entering the Strait of Hormuz on Monday, but a U.S. official denied a report that it had been struck by Iranian missiles, according to an Axios journalist. Iran’s …
DEI Programs Are Dwindling But the Trump Administration Isn’t Done
After a remarkably successful effort to extinguish diversity, equity and inclusion programs at US employers, federal officials are stepping up their push against corporate America’s remaining DEI initiatives. Last week it was a review of Walt Disney Co. television station …