INSURANCE NEWS
BHP Faces $47 Billion UK Lawsuit Over Brazilian Dam Collapse
A hearing in a lawsuit against BHP over Brazil’s worst environmental disaster, the 2015 collapse of the Mariana dam, will begin at London’s High Court on Monday, with claimants seeking up to 36 billion pounds ($47 billion) in damages. More …
Vale-BHP Mine Disaster Deal Moves Closer to Settlement in Brazil
Miners Vale SA and BHP Group are a step closer to finalizing a deal with Brazilian authorities to provide a multibillion-dollar settlement for one of the country’s worst mining disasters. Ongoing negotiations that also involve Vale-BHP’s iron ore joint venture, …
China’s Ping An Insurance Posts 36.1% Rise in 9-Month Profit
Ping An Insurance (Group) Co. of China Ltd. reported on Monday a 36.1% rise in net profit in the first nine months of the year, driven by growing investment returns and new policies sold as the economy recovers. The insurance …
North-Central Italy Sees Floods, Road Closures After Heavy Rains
Floods engulfed parts of north-central Italy from overflowing rivers following days of heavy rain, prompting the state-led road operator to close some expressways. Severe flooding was seen in the region of Emilia Romagna on Sunday. One person was reported missing, …
Western Digital owes $315.7 million for infringing data security patent, US jury says
Data storage provider Western Digital must pay $315.7 million in damages for violating a patent owner’s rights in data security technology, a jury in California federal court said on Friday. The jury determined that several Western Digital self-encrypting hard drive …
ESG’s Appeal Fades in Emerging Markets as Profit Seeking Eclipses Virtue
Sustainable investments in emerging markets are facing a reckoning as environmental, social and governance strategies crumble under the weight of ongoing capital outflows and the appeal of higher-yielding energy bonds. ESG investments in developing nations have floundered over the course …
Walmart Reaches Settlement in Shareholder Lawsuits Over Handling of Opioids
Walmart said Friday it has reached a proposed settlement pact related to three lawsuits filed by shareholders on behalf of the company over the handling of prescription opioids. According to the terms of the settlement that were disclosed in a …
Counterpoint: New Florida Rule Not Aimed Only at Public Adjusters
We are disappointed but unsurprised that an insurance industry lobbyist would mischaracterize an emergency order meant to stop insurance abuses as a “rule on public adjusters.” As Insurance Journal itself made clear in an Oct.10 story that does not even …
Point: The Game-Changing Impact of Florida’s New Rule on Public Adjusters
The issuance of Florida’s Emergency Rule 69BER24-4, in response to hurricanes like Milton, represents a significant shift in regulating public adjusters and their activities. While some plaintiff attorneys and some adjusters initially celebrated the rule as a victory, a deeper …
Arkansas Insurance Hall of Fame Honors 5 Inductees
The Arkansas Insurance Hall of Fame honored five inductees and awarded seven scholarships to insurance students at its annual banquet in Conway on Oct. 17. The banquet was held on the campus of the University of Central Arkansas. The 2024 …
Farm Labor Contractor to Pay Damages Over Pregnancy Discrimination Charge
Family Fresh Harvesting, LLC, a farm labor contractor which provides temporary H-2A visas to agricultural workers at nurseries in Michigan and farms in Georgia, entered into a conciliation agreement with the U.S. Equal Employment Opportunity Commission (EEOC) to resolve a …
Family of Black Man Killed by Ohio Police Agree to Settlement
AKRON, Ohio (AP) — A family is settling a wrongful death lawsuit against Ohio police who fired 94 bullets at a Black man during a chase two years ago. Jayland Walker’s family and the city of Akron reached an agreement …