INSURANCE NEWS
Severe Winter Storm Batters Nation’s Capital and Metro Region
The nation’s capital and surrounding areas are experiencing he effects of a severe winter storm as part of a storm that has moved from parts of the Ohio Valley through to the Mid-Atlantic. The storm is producing moderate to heavy …
New NC Governor Issues Orders to Speed Housing Work After Helene
ASHEVILLE, N.C. (AP) — New North Carolina Gov. Josh Stein took several actions on Thursday to help the short- and long-term recovery from Hurricane Helene, with an immediate focus on more temporary housing and repairs to private bridges and roads. …
US Chamber, Oil Firms Sue Vermont for Making Companies Pay for Climate Damage
The U.S. Chamber of Commerce and a top oil and gas industry trade group are suing Vermont over its new law requiring that fossil fuel companies pay a share of the damage caused over several decades by climate change. The …
New York Employers Must Offer Paid Medical Leave During Pregnancy
Pregnant New Yorkers will be entitled to at least 20 hours of paid leave to attend prenatal medical appointments under a law that took effect Wednesday. Gov. Kathy Hochul said the policy makes New York the first state in the …
Ghosts of Grenfell Disaster: No Penalties for UK Firms That Used Flammable Cladding
When the deadly Grenfell Tower blaze in 2017 led to revelations that high-rise public housing buildings across Britain were wrapped in flammable cladding, the government vowed the building contractors responsible would pay for their negligence. Seven years on, contractors who …
One in Four UK Firms Cut Jobs After Reeves Budget, PMI Shows
Almost one in four British businesses cut jobs in December amid widespread pessimism over the squeeze on their finances from Labour’s tax-raising budget. S&P Global’s purchasing managers’ index confirmed that the private sector stagnated at the end of 2024 with …
The Wartime Risk Insurers Making Fortunes Keeping Trade Moving
Inside faceless office buildings scattered around London, a niche corner of the insurance market is keeping hundreds of billions of dollars in commodity trade moving through some of the world’s most dangerous waters. As conflicts rage in the Middle East …
US Sanctions Chinese Cyber Firm Linked to Botnet Attack
The US Treasury Department sanctioned Chinese cybersecurity firm Integrity Technology Group for its alleged role in a state-sponsored botnet attack known as Flax Typhoon. Integrity Technology, which is traded on the Shanghai Stock Exchange, was involved in “multiple computer intrusion …
Boeing, DOJ Tell US Judge They Have Not Reached Agreement on Revised Plea Deal
The U.S. Justice Department and Boeing told a court on Friday they have not reached agreement on a revised plea deal after a U.S. judge in December rejected the deal, faulting a diversity and inclusion provision. Boeing and the government …
Strate Insurance in Tennessee Merges with Main Street Insurance Group
Strate Insurance Group, a personal lines agency with offices in five Tennessee cities, is merging with Main Street Insurance Group, a 127-year-old agency with locales in North Carolina. Strate officers said in a news release that the merged firm will …
State High Court Nixes Policy Cancellation Over ‘Ambiguous’ Communications
An insurer failed to properly cancel a workers’ compensation policy because its multiple notices and other conduct were not “definite, certain, and unambiguous” as to the status of the coverage. As a result, Ace America Insurance Co. is obligated to …
Colorado Governor Wants to Privatize State’s Workers’ Comp Carrier
Colorado Gov. Jared Polis wants to spin off the state’s stake in Pinnacol Assurance, privatizing the workers’ compensation carrier of last resort to help it make more money and plug government budget holes. The big idea is that pulling up …