INSURANCE NEWS
Four Screwworm Cases Found on a Texas Farm in Biggest Batch Yet
The four most recent cases of the New World screwworm have been confirmed on the same Texas property, marking the largest cluster of detections to be reported since the parasite was found in the US earlier this month. Three cattle …
Google’s YouTube Settles Case Over Social Media Harm to Children
Google’s YouTube has settled a lawsuit brought by a minor who claimed the platform damaged his mental health, his lawyers said Tuesday, ahead of a second California trial over social media’s role in the youth mental health crisis. The terms …
SPAC Deals Seen as Key Path to Public Market in Data Center Boom
The rebound in blank-check companies is proving to be a useful route to public markets for companies involved in the artificial intelligence-data center build-out, said Betsy Cohen, a veteran of dealmaking in special purpose acquisition companies (SPAC). The Cohen Circle …
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing
National insurance groups are hailing the signing of a new law in North Carolina, one that makes the state the first to place an outright ban on third-party funding of lawsuits. House Bill 315, signed by Gov. Josh Stein this …
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested
A 14-month-long “ghost broker” investigation has concluded with the arrest of a man accused of procuring more than 1,120 auto insurance policies using fraudulent data and social media apps. The Utah Insurance Department announced the arrest of Carlos David Garcia …
NYC Hires Pinnacle Actuaries, Seeks Private Partners for City-Backed Insurance Program
New York City has taken the next steps toward realizing its vision of a city-backed insurance program for affordable housing providers. The city has selected Pinnacle Actuarial Resources to provide actuarial analysis and technical support. Also, the city has issued …
People Moves: HDI Global Names New Leadership
As part of its new group strategy Xcelerate29, corporate & specialty insurer HDI Global (HDI) will implement a new organizational setup and leadership changes in its U.S. business. HDI Global U.S. named Shadi Albert as the new CEO as of …
Super El Niño Risk Tally: Wildfires, A ‘Mini-Dust Bowl,’ Flooding
What’s being referred to as a super El Niño is now looking more than likely, and it brings with it increased wildfire risk in the West, drought and a possible “mini-Dust Bowl” in parts of the Great Plains, the potential …
Millions of Honeybees Escape After Texas Semitrailer Crash
Millions of honeybees escaped into a rural Texas neighborhood after a semitrailer carrying about 400 hives tipped over, officials said. Emergency officials in Orange County, Texas, shut down roads in the area Sunday morning and warned residents to stay in …
People Moves: The MJ Companies Adds McColm as Associate Director of Benefits Compliance
The e MJ Companies announced the addition of an accomplished benefits compliance professional to its team. Rebecca McColm is joining as associate director of benefits compliance, based in the firm’s Indiana office. She will provide compliance support to MJ clients …
Westfield Specialty Acquires DOXA’s Arris Property Underwriters Program
Westfield Specialty announced the acquisition of the renewal rights for DOXA’s Arris Property Underwriters Program. The E&S commercial property program provided custom solutions for real estate, hospitality, healthcare, education, municipalities, and manufacturing through wholesale distribution. The renewal rights deal provides …
Tesla Sued After Woman Killed by Car Crashing Into Her House
Tesla Inc. was sued by the family of a 76-year-old woman who was killed after a Model 3 sedan allegedly using driver-assistance software slammed into her home near Houston. The electric-vehicle maker’s automated technology failed to detect the end of …