INSURANCE NEWS
Army Corps Finds Great Lakes Pipeline Tunnel Would Have Major Environmental Impacts
Building an underground tunnel for an aging Enbridge oil pipeline that stretches across a Great Lakes channel could destroy wetlands and harm bat habitats but would eliminate the chances of a boat anchor rupturing the line and causing a catastrophic …
LA City Council Passes Budget That Trims Fire, Police Spending
The Los Angeles City Council approved a $13.9 billion budget proposal for the next fiscal year on Friday, trimming Mayor Karen Bass’s plans to increase public safety spending, in an effort to reduce layoffs amid a nearly $800 million deficit. …
Administration Reverses Course on Planned Closure of Mine Safety Offices
CHARLESTON, W.Va. (AP) — The Trump administration is dropping plans to terminate leases for 34 offices in the Mine Safety and Health Administration, the agency responsible for enforcing mine safety laws, the Department of Labor said Thursday. Earlier this year, …
Supreme Court Leaves Intact ‘Assault Weapons’ Bans for Now
A divided US Supreme Court declined to consider a new expansion of constitutional gun rights, turning away challenges to a Maryland ban on so-called assault weapons and a Rhode Island prohibition on high-capacity magazines. The justices left intact federal appeals …
1 Dead, Several Injured When More Storms Rip Through Kentucky, Southeast
SPRINGFIELD, Ky. (AP) — Another storm hit parts Kentucky, Tennessee, West Virginia and Virginia Friday, killing one person and injuring seven others. In Kentucky, Washington County Judge-executive Timothy Graves said two or three houses were destroyed and downed trees temporarily …
Police Say Driver Had 2X Legal Blood Alcohol Level in Deadly Yellowstone Crash
The driver of a pickup that crashed into a tour van near Yellowstone National Park this month, killing seven people, had a blood alcohol level more than twice the legal limit for driving, police said. The driver, identified previously as …
Rate Moderation Continues During June’s Property-Cat Renewals: Howden Re
Property-catastrophe reinsurance pricing saw continued moderation at the June 1 renewals with a selective return of capacity following historic pricing strength, according to Howden Re, the reinsurance and advisory arm of Howden. While rate moderation continued and reinsurers’ appetite expanded …
Skechers Shareholder Sues Footwear Maker for Details on $9.4B 3G Buyout
A Skechers USA shareholder has sued the footwear maker for more details about its $9.4 billion buyout by private equity firm 3G Capital, saying the decision by Skechers’ founder and controlling shareholder to sell raises “red flags.” According to a …
New England Patriots to Pay $2.1 Million to Settle App Users’ Privacy Claims
A federal district court judge in Boston has granted preliminary approval to a $2.16 million settlement between the New England Patriots organization and a class of fans who claim their personally identifiable information (PII) was shared without their permission while …
Sweden to Boost Insurance Checks on Foreign Ships as Worries About Russia Rise
Sweden said Saturday it will step up insurance checks on foreign ships in a move aimed at tightening controls on Russia’s so-called “shadow fleet ” of aging ships. The government in Stockholm said that, starting July 1, the coast guard …
Highways Baking at 158F Signal a Red-Hot Summer From China to the US
In northern China, road surfaces have soared to 158F (70C). In California’s Central Valley, temperatures are reaching into the triple digits Fahrenheit. Across much of Spain, the mercury has risen so high that it’s prompting warnings for tourists. Weeks before …
European Utilities Rush to Hedge Against Acute Wind Drought
After spending about $380 billion over the past decade to nearly double wind power capacity in Europe, utilities are now turning to an obscure and little-known market to protect themselves against a prolonged bout of calm weather. The wind drought …