INSURANCE NEWS
Texas Attorney General Opens Probe Into CenterPoint Over Beryl
The Texas attorney general is investigating CenterPoint Energy Inc. citing potential violation of the state’s law in the utility’s response during Hurricane Beryl, when millions in the Houston area were left without power — some for days in the sweltering …
People Moves: Everest Launches Global Broker Management Team Led by Izzo; Evolin Broking Launches Casualty Division With 3 Senior Hires
This edition of International People Moves details appointments at re/insurer Everest Group and Evolin Broking. A summary of these new hires follows here. Everest Launches Global Broker Management Team Led by Izzo Everest Group Ltd., the Bermuda-based property, casualty, and …
Hawaiian Electric Pegs Loss at $1.7 Billion From Maui Fire
Hawaiian Electric Industries Inc. pegged losses from estimated accrual of liabilities stemming from one of the worst wildfires in US history at $1.7 billion and issued a going-concern warning. Hawaiian Electric said last week that it had agreed to pay …
Staged Auto Accident Leads to Murder, Conviction in Georgia
First, he orchestrated a staged auto accident in Georgia. Then he murdered a co-conspirator in 2019 in a disagreement over payment from insurance proceeds related to the faked crash. Today, Norman Uriah Simmonds Jr., 45, of Lilburn, Georgia, is headed …
Colorado Wildfire That Destroyed 27 Homes Was Human-Caused, Officials Say
The Colorado wildfire that tore through 15 square miles (39 square kilometers) and destroyed 48 buildings, over half of which were homes, was human-caused, investigators said. The Alexander Mountain Fire burning near Loveland, about an hour’s drive north of Denver, …
Federal Court Says Lindberg and Firms Must Pay $167M to Defunct Dutch Insurer
Former insurance executive Greg Lindberg, now awaiting sentencing in a North Carolina bribery conviction, and his companies must pay almost $167 million to an insolvent life insurance company in the Netherlands, a federal judge decided last week. “There is nothing …
Worker Falls to Death From Theater Construction Site in Boston
Boston police reported that a construction worker fell to his death while working on restoring Emerson College’s Cutler Majestic Theater on Friday, August 9. Police were called to the scene on Tremont Street at 12:45 pm. Photos showed scaffolding on …
Winning Lawsuit Against Titan Sub Owner Could Be Difficult, Experts Say
A lawsuit stemming from the Titan submersible disaster felt inevitable, but winning a big judgment against the owner of the vessel could be very difficult, legal experts said on Thursday. The family of French explorer Paul-Henri Nargeolet, one of five …
UK Revisits Social Media Regulation After Far-Right Riots
The British government is considering changes to the Online Safety Act designed to regulate social media companies, following a week of racist rioting driven by false information online. WHY IT’S IMPORTANT The act, passed in October but not set to …
Four Suspected Houthi Attacks Target Ship Off Yemen, Authorities Say
Four suspected attacks by Yemen’s Houthi rebels targeted a Liberian-flagged oil tanker in the strategic Bab el-Mandeb Strait linking the Gulf of Aden to the Red Sea, including one that saw private security guards shoot and destroy a bomb-loaded drone …
Ukraine Boosts Grain Exports Despite Intensified Russian Attacks
Ukraine is scrambling to ship as much grain as it can this summer, taking advantage of military gains it has made in the Black Sea area to boost exports even as Russia has attacked its ports. Ukraine is a major …
Generali Profit Falls as Europe Flooding Hurts Non-Life Results
Assicurazioni Generali SpA’s second-quarter profit fell 24% from a year earlier, as claims from storms and flooding in Europe weighed on results. Net income in the three months through June declined to €797 million ($870 million) missing the €881 million …