INSURANCE NEWS
Squishmallows Maker Can Sue Build-A-Bear Over Alleged Plush Toy Knockoffs
A U.S. judge rejected Build-A-Bear Workshop’s effort to dismiss a lawsuit claiming that its Skoosherz plush toys were unauthorized knockoffs of Squishmallows, the popular plush toys made by a unit of Warren Buffett’s Berkshire Hathaway. In a decision on Monday, …
Man Admits to Tracking Drivers, Programming Keys, Stealing and Then Reselling Vehicles
A New Jersey man has admitted to orchestrating a multistate car theft and fraud ring that involved tracking drivers, programming keys, stealing their cars, and reselling their vehicles. U.S. Attorney Philip R. Sellinger said that Warren Guerrier pleaded guilty before …
Massachusetts Insurance Agency Deland, Gibson Acquires Atchue Agency
Independent insurance agency Deland, Gibson Insurance Associates in Wellesley, Massachusetts announced it recently acquired Atchue Insurance Agency, which is located about 35 miles away in Worcester. Founded by Earl V. Atchue, Jr. in 1982, Atchue Insurance Agency has grown from …
Fleming Files Lawsuit Against James River, Alleging Fraud During JRG Re Acquisition
Fleming Intermediate Holdings filed a lawsuit against James River Group Holdings Ltd., alleging it had been defrauded during its $300 million acquisition of JRG Reinsurance Co. Once the deal agreement was signed in November 2023, Fleming said, “James River immediately …
Air Canada Hit by Court Ruling After Ex-Maintenance Workers Sue
Air Canada may be forced to pay at least C$100 million ($73.2 million) to about 2,200 former workers after a Quebec court issued a ruling in their class-action lawsuit against the airline. The amount would cover lost wages, lost benefits, …
UK’s First Coal Mine in 30 Years Faces Climate Court Test
Climate groups called a decision to open the UK’s first deep coal mine in more than three decades unlawful, claiming that approval was granted without taking into account all the harmful emissions that it would produce. Lawyers for Friends of …
Allianz Makes $1.6 Billion Offer for 51% of Income Insurance
Allianz has made an offer to acquire at least 51% of Singapore’s Income Insurance Ltd. in a transaction valued at about S$2.2 billion ($1.6 billion). The planned acquisition will significantly strengthen Allianz’s presence in Singapore, Europe’s biggest insurer said in …
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond
It is interesting—and telling—that one of the concerns around generative artificial intelligence has to this point largely revolved around copyright infringement. The most high-profile lawsuits around GenAI have so far centered on the idea that this technology will absorb the …
Surplus Lines’ Commercial Growth; Fla. Litigation Costs Reached New High in 2023
Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus Lines Service Office reported this week that the admitted …
Insurers Tied to Apollo, KKR Buy Mortgages Outright in New Twist
Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright. It’s a trend that’s picked up pace over the last few years. Last year alone, insurers increased their holdings of residential …
Washington Adult Family Home Operator Facing Felony Charge in Alleged Workers’ Comp Scam
A Spokane, Washington woman who ran an adult family home while claiming she was too injured to work faces a felony charge in a $60,000 workers’ compensation fraud case. Serah Kamau, 52, reportedly operated her business, Brookhouse Adult Family Home, …
Amazon Worker Injured Due to Repetitive Tasks Loses Workers’ Compensation Bid
An Amazon distribution center worker in Virginia whose job entailed repetitive lifting and stowing of items every day and who suffered rotator cuff tears has been denied workers’ compensation benefits because she failed to prove her injury resulted from an …