INSURANCE NEWS
Monsanto’s Bayer to Pay Nearly $2.1 Billion in Roundup Weed Killer Lawsuit
A jury in Georgia has ordered Monsanto parent Bayer to pay nearly $2.1 billion in damages to a man who says the company’s Roundup weed killer caused his cancer, according to attorneys representing the plaintiff. The verdict marks the latest …
LA Municipal Utility Says No Evidence Energized Power Line Caused Fire
A Los Angeles Department of Water and Power (LADWP) above-ground power line near the Pacific Palisades was energized when the Palisades Fire began early this year, but that there is no evidence that the line contributed to the blaze, the …
North Carolina Celebrates 15,000 Fortified Roofs from Grant Programs
The North Carolina Insurance Underwriting Association this week marked the 15,000th fortified roof in the state, a huge increase since the grant program began in 2017. “I applaud the NCIUA for investing over $100 million in this incredibly successful and …
Baltimore a Year After Key Bridge Collapse
BALTIMORE – When Bobby LaPin was a young boy, his grandfather took him on his rickety boat to fish for bass and trout in the Patapsco River. Their route took them under the Francis Scott Key Bridge, where LaPin listened …
Aurora Plans for Self-Driving Trucks in Harsh Weather in Texas
Aurora Innovation AUR.O plans to allow its self-driving trucks to operate without a driver in inclement weather ahead of launching commercial trips this year in Texas, the company said on Tuesday. The autonomous trucks are expected to start operating on …
Catastrophe Experts Tap AI to Tackle Soaring Insured Losses
Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months into the year, natural disasters are already causing major …
Crews Battled Helene-Fueled Wildfires for Another Day in the Carolinas
Firefighters in North and South Carolina were battling multiple wind-driven wildfires Monday in rugged terrain that complicated containment efforts, officials said. Millions of trees knocked down by Hurricane Helene last year combined with long stretches of dry weather this spring …
South Korea Battles Wildfires as Death Toll Rises to 18
Wildfires ravaging South Korea over the past week have killed at least 24 people, making it the country’s worst forest fire disaster in about three decades, as firefighters struggled to contain multiple blazes that have broken out in the country’s …
How Cincinnati Insurance Does E&S
The Cincinnati Insurance Companies have grown business for 75 years through relationships with a carefully selected set of regional independent agents—and business in the surplus lines segment is no exception, executives report. That sets the insurer apart from other E&S …
Kroger Fights Suit by Albertsons Over Failed $24.6 Billion Deal
Kroger Co. is fighting back against a lawsuit brought by Albertsons Cos. over its failed $24.6 billion takeover of the rival grocery chain, escalating a dispute that began after US antitrust enforcers succeeded in blocking the deal last year. Albertsons …
Allianz Global Investors Says It Is Cutting Some Roles
Allianz Global Investors, the smaller of the two asset managers owned by German insurance giant Allianz SE, is cutting some roles as it looks to make changes to its organizational structure. “Some tasks and elements of our operation may no …
Spain Opens Antitrust Probe Into Generali, Sanitas Agreement
Spain’s antitrust watchdog said on Tuesday it had opened an investigation into Italian insurer Generali and local health insurance provider Sanitas over potential anti-competitive practices. The CNMC watchdog said the probe focused on an agreement signed in October 2022 under …