INSURANCE NEWS
Crisis-Era Regulation Has ‘Gone Too Far,’ Reeves Tells Finance Sector
Finance minister Rachel Reeves on Thursday promised a reboot of regulation governing Britain’s “crown jewel” financial industry which she said has shackled the City’s global prospects since the global financial crisis and stifled UK economic growth. According to extracts from …
Brazilian Court Clears Vale, BHP and Samarco of Criminal Charges in 2015 Dam Collapse
A Brazilian federal court ruled miners Vale, BHP Group and their joint venture Samarco are not criminally liable for the deadly 2015 Fundao tailings dam collapse, according to a statement from the court on Thursday. The dam collapse at an …
EU Readies More Sanctions on Russia’s Shadow Fleet by Year’s End
The European Union is working on a new package of sanctions aimed at targeting the shadow fleet of tankers Russia is using to get its oil to market, according to people familiar with the matter. The package, which the bloc …
Less Worker Deaths Investigated by Labor Department’s OSHA in FY 2024
The Occupational Safety and Health Administration said its enforcement has led to fewer workers dying. OSHA, a part of the Department of Labor, said it investigated 826 worker deaths in fiscal year 2024. This is an 11% reduction from 928 …
People Moves: Zurich Names Bernard Head of Industry Practices for US Middle Market; FM Promotes Hodge to COO
Zurich North America, headquartered in Schaumburg, Illinois, promoted Stan Bernard to head of industry practices for U.S. Middle Market. Bernard succeeds Lynn Zeitler, who is retiring in December after 31 years with Zurich. Bernard, who is based in Maryland, has …
Ford Hit With Near-Record $165 Million Penalty on Recall Failure
Ford Motor Co. agreed to a $165 million civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second-largest fine ever levied by the National Highway Traffic Safety Administration. Ford …
Emerald Bay Launches Co-Op and Condo Casualty Program with Vanderbilt Properties
Underwriting carrier Emerald Bay Risk Solutions announced a partnership with Vanderbilt Properties Associates, Inc., a risk purchasing group comprising a large portfolio of high-end residential and commercial real estate properties as its members, to launch its inaugural casualty program. The …
Judge Sets April Trial Date for Palin’s Libel Claim Against New York Times
A federal judge set an April retrial date on Tuesday for Sarah Palin’s libel case against The New York Times, even as lawyers on both sides for the first time said they hope to engage in talks to settle the …
Michigan Court of Appeals Rules in Favor of Police in 2020 Custody Death Lawsuit
The Michigan Court of Appeals has ruled in favor of police and dismissed a lawsuit alleging negligence in the 2020 death of a woman who was in custody in suburban Detroit. There wasn’t enough evidence to let a jury decide …
Jury Awards Baltimore $266 Million in Damages After Opioid Trial
A jury has awarded the city of Baltimore $266 million in damages in its suit against pharmaceutical firms McKesson and AmerisourceBergen for their part in the city’s opioid epidemic. With the jury award, the city has notched another win for …
World Insurance Acquires New Jersey’s United Counties Insurance
National broker World Insurance Associates reports that it acquired the business of United Counties Insurance Group of Old Bridge, New Jersey on August 1, 2024. Terms of the transaction were not disclosed. United Counties sells home, auto, business and health …
Texas DWC Seeks Comments on Employer Forms
The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on revised static forms: DWC Form-005, Non-Subscriber Notice to Division of Workers’ Compensation. DWC Form-007, Employer’s Report of Non-Covered Employee’s Work-Related Injury or Illness. DWC said …