INSURANCE NEWS
Hawaii Attorney General Probe into Deadly Wildfire Won’t Lead to Criminal Charges
An investigation by the Hawaii attorney general’s office into the deadliest U.S. wildfire in more than a century, which destroyed most of the historic town of Lahaina, won’t lead to any criminal charges. Hawaii Attorney General Anne Lopez launched an …
Vienna Insurance Group Launches Specialist Cyber Security Company
Vienna Insurance Group has launched a specialist cyber security company focused cyber risk management for small and medium-sized companies. Called Cyber Risk Solutions GmbH (CyRiSo), the company provides comprehensive support to help companies reduce cyber risks and to prevent and …
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third quarter underwriting income with Berkshire Hathaway’s insurance insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases in losses from prior year claims. In releasing its earnings …
Facebook, Nvidia Ask Supreme Court to Spare Them From Securities Fraud Suits
The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies …
Meta Loses Bid to Appeal UK Class Action Over User Data
Meta Platforms Inc. failed in a bid to challenge a class action suit in the UK that alleged Facebook abused its dominant position and exploited its users personal data. The UK’s Court of Appeal refused to permit Meta and Facebook’s …
French Families Sue TikTok Over Alleged Failure to Remove Harmful Content
Seven French families have filed a lawsuit against social media giant TikTok, accusing the platform of exposing their adolescent children to harmful content that led to two of them taking their own lives at 15, their lawyer said on Monday. …
SEC Says JPMorgan Chase Settles Five Enforcement Cases, to Pay $151M
JPMorgan Chase will pay $151 million to settle five U.S. Securities and Exchange Commission enforcement cases, including accusations that the largest U.S. bank made misleading disclosures to brokerage customers, the regulator said on Thursday. The settlements include $61 million of …
Despite Recent Backlash, Nearly 60% of U.S. Workers Support Current DEI Policies
While recent events have put corporate America’s diversity efforts on defense, the programs continue to receive strong support from employees, according to new research from The Conference Board. The survey gauges employees’ and executives’ perceptions of DEI initiatives and backlash. …
Would Letting Roofers Do More Wind-Mit Work Help Cut Florida’s Insured Losses?
A recent photograph of destruction left by Hurricane Milton’s wind tells the story: An entire roof section on a residential complex in Bradenton, Florida – including rafters and ceiling joists – was ripped off, exposing people’s abodes and belongings to …
60,000 Wawa-Branded Tumblers Recalled Because Their Metal Straws Can Cut Customers
Some 60,000 Wawa-branded beverage tumblers are under recall due to a laceration hazard posed by the products’ metal straw. According to a Thursday notice published by the U.S. Consumer Product Safety Commission, the metal straw inside the now-recalled tumblers can …
Changes to Washington Homeowners and Auto Premium Rule to Be Considered
Washington Insurance Commissioner Mike Kreidler has proposed modifying the state’s recently adopted premium change transparency rule. The proposal is specific to Phase 2 of the rule (the automatic inclusion of reasons for premium increases in policy renewals). It moves the …
Delta-8 Hemp and Texas Medical Marijuana Industries to Face Off in Upcoming Legislative Session
Jack Stinnett got life-changing news in 2020 when he learned the lump that appeared on the side of his neck was tongue and mouth cancer. He and his wife Karen quickly enrolled him at MD Anderson Cancer Center in Houston, …