INSURANCE NEWS
Delta Plane Flips Upside Down in Toronto Landing, 15 Hurt
A Delta Air Lines Inc. regional jet flipped out of control after landing in windy, freezing conditions in Toronto, skidding along the runway and coming to rest upside down after losing its tail and one of its wings. Fifteen people …
Markets/Coverages: IQUW Launches Ports & Terminals Product
IQUW, the London-based specialty insurer and reinsurer, has launched its new ports and terminals product, reinforcing its position as a lead market for marine insurance. Under the leadership of Ali Welchman, an expert in the Ports and Terminals class, the …
Texas Braces for Freezing Weather With Wildfire and Flood Risks
Several varieties of extreme weather are forecast for Texas this week as state officials monitor rising wildfire risks in West Texas and possible flash flooding in East Texas before frigid cold settles in across the state mid-week. Wildfire conditions are …
Michigan Insurer In Talks to Settle Lawsuits Over Fired Workers and COVID-19 Vaccine
A major Michigan insurance company is in talks to possibly settle more than 100 lawsuits by employees who were fired after declining to get a COVID-19 vaccination, court records show. The disclosure comes three months after a jury awarded more …
13 People Arrested in Croatia for Illegally Disposing Hazardous Waste, Europol Says
Thirteen people suspected of illegally importing and disposing of hazardous waste have been arrested in Croatia, the European Union’s law enforcement agency said Friday. The main suspects, two Croatian nationals, are considered high-value targets by Europol, said an agency statement. …
SEC Eases Path for Companies to Nix Shareholder Proposals
The Securities and Exchange Commission released new guidelines making it easier for corporations to block votes on shareholder proposals at their annual meetings. Under the new policy, regulators will determine whether a proposal affects at least 5% of a company’s …
RiverStone Int’l Signs Reinsurance-to-Close Deal With Asta for 2022 Year of Account
RiverStone International, the legacy acquisition company, announced it has signed a reinsurance-to-close contract with Asta Managing Agency, under which the 2022 underwriting year of account of Hampden Risk Partners (HRP) Syndicate 2689 will close into Riverstone International Syndicate 3500. The …
Aviva’s India Arm Hit With $7.5 Million Fine for Fake Invoice Scheme, Order Shows
Indian authorities have ordered British insurer Aviva’s local unit to pay $7.5 million in back taxes and penalties after an investigation found it created fake invoices to pay illegal commissions and claimed incorrect tax credits, an order shows. The tax …
California Insurance Commissioner Rejects State Farm’s 22% Rate Request
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22% rate request from State Farm, instead calling a meeting with the carrier to get some answers about the carrier’s financial situation and more. State Farm General earlier this …
California Wildfire Mitigation And Recovery Bill Package Introduced
California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended focus are on consumer protection, climate resiliency and market strength. …
Texas County Approves Election for New City Starbase Near SpaceX Site
A Texas county on Wednesday approved holding an election sought by SpaceX that would let residents living around billionaire Elon Musk ‘s company decide whether to formally create a new city called Starbase. The election was set for May 3 …
Texas Power Grid Says State’s Energy Demand May Exceed Supply in 2026
Texas’ main grid operator on Thursday forecast that the state’s growing demand for power could surpass its available energy supply beginning in summer 2026. In a report outlining potential supply and demand over the next five years, the Electric Reliability …