INSURANCE NEWS
Hurricane John Makes Landfall in Mexico as Major Category 3 Storm
Hurricane John hit Mexico’s southern Pacific coast late on Monday as a major category 3 storm, with authorities warning residents to protect themselves against potentially deadly storm surges and torrential rain. The storm, packing maximum sustained winds of 120 mph …
Flood Damage on Key Austrian Rail Link to Take Months to Repair
Austria’s national railways will need months to restore the country’s busiest train line after catastrophic floods wrecked infrastructure, throttling the capacity to move people and goods. Commuters and supply chains will need to adapt after record rainfall damaged tracks, tunnels …
British Water Companies Fight $2 Billion Lawsuits Over Sewage Pollution
Six British water companies under-reported sewage discharges and overcharged millions of customers up to 1.5 billion pounds ($2 billion) as a result, lawyers bringing a landmark lawsuit told a London tribunal on Monday. The utilities companies, including Britain’s largest water …
Canada’s Insurance Czar Has ‘Harsh’ Message About Climate: You May Have to Move
The soaring cost and difficulty of insuring against climate risks may force people to relocate, the head of Canada’s main financial regulator warned. Rising damages from extreme weather don’t seem to be a regulatory problem, but rather a cost problem, …
Mutually Beneficial: How One Midwest Mutual Insurer Recovered From Financial Storms
When Iowa mutual GuideOne Insurance began assessing ways to add an infusion of capital to strengthen its balance sheet, the company went to the usual places a mutual of its size might turn to for financial backing. “We were working …
Environmental Groups, California Sue Exxon Over Global Plastic Pollution
California and several environmental groups sued Exxon Mobil on Monday and accused the oil giant of engaging in a decades-long campaign that helped fuel global plastic waste pollution. Speaking at an event during Climate Week in New York City, California …
Judge Dismisses Suit Seeking to Protect Dolphins Along Miss. Gulf Coast
GULFPORT, Miss. (AP) — A federal judge has dismissed a lawsuit that sought to protect dolphins along the Mississippi Gulf Coast after dozens were killed or sickened in 2019 following the prolonged opening of a spillway used for flood control. …
A-G Specialty Expands With Acquisition of eSportsInsurance Brokerage
A-G Specialty Insurance, a brokerage specializing in coverage for niche industries, is expanding its reach in the amateur sports world with the acquisition of eSportsInsurance, based in Lilburn, Georgia. A-G Specialty, headquartered in Berwyn, Pennsylvania, and established in 1983, has …
FSLA Names New Directors for 2024-2025
The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insurance industry, named new officers for 2024-2025 at its recent annual convention in Tampa. President: Virginia Clancy, TAPCO Underwriters President-elect: Albert Geraci, Risk Placement Services …
FBI Disrupts Vast Chinese Hacking Operation That Infected Consumer Devices
The FBI has disrupted a group of hackers working at the direction of the Chinese government who targeted universities, government agencies and other organizations, Director Chris Wray said last week. The hacking campaign known as Flax Typhoon installed malicious software …
Cards Against Humanity Sues Elon Musk’s SpaceX Over Alleged Trespassing on Texas Land
The maker of the popular party game Cards Against Humanity is accusing Elon Musk’s SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas. In a lawsuit filed this week at a Texas court, …
J&J’s Bankruptcy Effort Fails Supreme Court Test, Holdouts Say
Johnson & Johnson’s third effort to end lawsuits claiming its baby powder caused thousands of women to get cancer should be dismissed because it violates US Supreme Court precedent and twists the purpose of the American bankruptcy system, holdout creditors …