INSURANCE NEWS
Delay in Upping Its Claims Offer Could Cost AIG, Federal Appeals Court Says
AIG could pay dearly for refusing to budge on a claim settlement offer of $2.65 million for nearly a year after receiving estimates that a jury would likely award the claimant $7.5 million for her injuries. A jury did eventually …
California Workers’ Comp Rating Bureau Says Recent Rate Declines Flattened
Written premium in the first quarter was 4% lower than the same period in 2024, extending a trend in which written premiums in calendar years 2022 through 2024 remained relatively stable compared to large swings during the pandemic, a new …
Third Point UK Investors Should Reject Reinsurance Deal, ISS Says
Shareholders of the UK investment trust run by Dan Loeb’s hedge fund Third Point should reject its plan to turn itself into a reinsurance company, according to ISS. In its recommendation ahead of an Aug. 14 vote, the proxy adviser …
Tesla, Musk Sued by Shareholders Over Robotaxi Claims
Elon Musk and Tesla were sued by shareholders who accused them of securities fraud for concealing the significant risk that the company’s self-driving vehicles, including the Robotaxi, were dangerous. The proposed class action was filed on Monday night, following Tesla’s …
Michigan Financial Advisor Charged With Insurance Fraud
A Michigan financial advisor was charged with four counts of insurance fraud, each a four-year felony, Attorney General Dana Nessel announced last week. Todd Bernstein, 67, of Birmingham, was arraigned on July 30 before Magistrate Julie Nelson-Klein in the 48th …
Companies Spending Record Amounts to Protect Executives as Threats Rise
U.S. companies are spending record amounts to keep their executives safe in response to rising threats and the killings of two high-profile corporate officials in separate attacks in Manhattan over the last eight months. Corporations have doubled the number of …
Mayo Clinic Sued for Allegedly Forcing Security Guard to Get Vaccination
The Mayo Clinic violated federal law when it refused to grant a security guard’s request for a reasonable religious accommodation to its mandatory COVID-19 vaccination policy, and instead threatened to fire the employee, effectively forcing him to receive the vaccine …
Ladner Named Recipient of ICT’s Raymond Mauk Leadership Award
The Insurance Council of Texas (ICT) has named Gerald F. Ladner as the 2025 recipient of the Raymond Mauk Leadership Award. The award will be presented Sept. 17 during the ICT Property & Casualty Insurance Symposium in Austin. Established in …
Hacked Columbia University Data Includes Banking Numbers, GPAs
The financial information and academic performance of Columbia University students and alumni were stolen in a recent breach, according to a Bloomberg News review of some of the pilfered data. The data includes bank account and routing numbers, student loan …
Food Relief, THC Regulation in Limbo After House Democrats Flee Texas
After dozens of Democratic Texas House members fled the state on Sunday to deny Republicans the quorum they need to pass new congressional maps aimed at securing more GOP seats, many other bills are now at risk of dying. State …
Forceful Arrest of Student Shows Benefits of Recording Police Actions
A video that captured the brutal arrest of a Black college student pulled from his car and beaten by officers in Florida has led to an investigation and calls for motorists to consider protecting themselves by placing a camera inside …
Third Child Dies a Week After Barge-Sailboat Crash in Miami
MIAMI (AP) — The U.S. Coast Guard says a third child has died nearly a week after a barge struck and sank a boat during a sailing camp near Miami. All six people on the sailboat were pulled from the …