INSURANCE NEWS
Philippines Rushes to Contain Oil Spill From Sunken Tanker
Philippine authorities are rushing to contain an oil spill from a tanker that sank early Thursday, killing one crew member, after Typhoon Gaemi battered the nation. A Philippine-flagged tanker carrying 1.4 million liters of industrial fuel oil capsized 3.6 nautical …
Oscar Mayer Wienermobile Rolls Over in Chicago Highway Crash
OAK BROOK, Ill. (AP) — An Oscar Mayer Wienermobile got into a pickle on a Chicago highway. The hot-dog shaped Wienermobile hit a car Monday morning along Interstate 294 and its driver lost control and overcorrected, causing it to roll …
Houston City Council Approves Plan to Increase Federal Flood Insurance Discounts
Houston residents could see a greater discount on their federal flood insurance premiums as soon as next spring after the Houston City Council on Tuesday approved a watershed master plan expected to improve the city’s class rating in FEMA’s National …
ACLU: 51 Texas School Districts Not Complying With Ban on Hairstyle Discrimination
The ACLU of Texas said Wednesday it found 51 school districts in violation of the Texas CROWN Act, which bans race-based hair discrimination, and urged them to update their dress code policies. The Texas CROWN Act prohibits schools, workplaces and …
Iowa Insurance Commissioner Appointed Receiver of Fraudulent Investment Companies
The Iowa Insurance Commissioner Doug Ommen was appointed the receiver of Beckstone Partners, LLC (Beckstone), DesFined, LLC (DesFined), East King Management, LLC, and The Corporate Leasing Company, LLC to wind down the operation of the businesses and marshal the remaining …
Ruling Paves Way to Restart Work on Exxon’s Texas LNG Plant
A bankruptcy judge on Wednesday approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant. The decision …
Lawsuits Detail Decades of Sexual Abuse at Chicago Youth Detention Center
CHICAGO (AP) — Temarkus Washington says the sexual abuse he experienced as a teenager at a troubled Chicago youth detention center still gives him nightmares. The 35-year-old spoke publicly about his experiences Tuesday, a day after joining two lawsuits collecting …
Typhoon Gaemi Nears China After Pounding Taiwan, Philippines
Typhoon Gaemi took aim at China after tearing across the Philippines and Taiwan, where it knocked out power to hundreds of thousands of homes, flooded streets and left at least 24 people dead. After passing south of densely populated Taipei, …
Japanese Population Falls at Fastest Pace in Demographic Crisis
The number of Japanese citizens fell at the fastest clip last year since data collection began in the 1960s, adding pressure on the nation’s social security system and shrinking labor market. The population of Japanese nationals dropped by more than …
AM Best Withdraws Credit Ratings for Mt. Morris Mutual Following Downgrade
AM Best announced it has withdrawn credit ratings of Mt. Morris Mutual Insurance Company in Coloma, Wisconsin, less than a week after the credit rating agency downgraded the company’s ratings. AM Best said it withdrawn Mt. Morris’ ratings as the …
People Moves: Encova Insurance Names Shaver SVP, Small Business, and Lowe VP, Package Lines Underwriting
Encova Insurance, headquartered in Columbus, Ohio, named Michelle Shaver as senior vice president, small business, commercial lines, and Carrie Lowe as vice president, package lines underwriting. Shaver most recently was a small business leader for Chubb Insurance. She also previously …
BHP Must Stop Funding Legal Action to Halt Mariana Dam Claim, London Court Rules
BHP Group must stop funding legal action seeking to halt some Brazilian municipalities from bringing a multi-billion-pound claim over one of Brazil’s worst environmental disasters, London’s High Court ruled on Tuesday. More than 720,000 Brazilians, including around 50 municipalities, are …