INSURANCE NEWS
Brazil Seals $30 Billion Compensation Deal With BHP, Vale Over 2015 Dam Collapse
Brazil on Friday signed a 170 billion reais ($29.85 billion) compensation agreement with miners BHP, Vale, and Samarco for the Mariana dam collapse in 2015, one of the country’s worst environmental disasters. The collapse of the dam at the iron …
Broker Insights’ ‘Decision Intelligence’ Officially Heads to the US
After building it business up in the United Kingdom, Broker Insights said it is ready to officially bring its commercial insurance placement analytics to the United States. For the last 12-18 months, Broker Insights has been preparing for its expansion …
Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …
US Investigating Breach of Telecoms by China-Linked Hackers
The US government said Friday it was investigating unauthorized access by Chinese state-affiliated hackers targeting the commercial telecommunications sector. The FBI and the Cybersecurity and Infrastructure Security Agency said they had identified specific malicious activity by actors affiliated with the …
Universal, AmCoastal Report Some Costs from Helene, Milton for Q3
One of Florida’s largest property insurers and one of its smaller carriers reported losses at least partly related to Hurricane Helene, which landed just before the third quarter closed, and from Hurricane Milton, which struck less than two weeks later. …
Lawsuits Claim Children Were Sexually Abused in Pennsylvania Juvenile Facilities
A set of lawsuits was filed last Wednesday by people who claim they were sexually abused inside Pennsylvania juvenile detention and treatment facilities, making more than 200 people to have launched such cases since May. The New York-based Levy Konigsberg …
Report: California Auto Sales Leveling off, Tesla Sales Slip
New vehicle registrations in California seem to be leveling off, while consumer tastes for Telsas cooled slightly. California’s new light vehicle registrations fell by 1.7% from a year earlier, totaling 1,320,708 units, an outlook covering the first three quarters of …
California Phlebotomy Lab and Owners to Pay $135K to Over Alleged False Claims for Blood Testing
A mobile phlebotomy lab and its owners have agreed to pay at least $135,000 to resolve False Claims Act allegations that they submitted false claims for services and associated travel mileage and paid kickbacks to a third-party marketer of the …
NTSB: Chicago Train Operator Had Alcohol in His System During 2023 Crash
CHICAGO (AP) — Federal investigators say the operator of a Chicago commuter train that crashed almost a year ago had alcohol in his system but it wasn’t a factor in the incident. The Chicago Transit Authority train crashed into a …
Big I Illinois Announces Annual Awards
Big I Illinois, an association representing Trusted Choice® independent insurance agents throughout the state, presented awards to top agents and agencies during the association’s annual convention and 125th Anniversary Celebration held in Peoria, October 15-17, 2024. Big I Illinois presented …
Mississippi River Dries Up Again at Worst Time for US Farmers
The Mississippi River is suffering from low waters for the third straight autumn, a crucial time of year when American farmers rely on the route to deliver their crops to the world. Months of limited rainfall — with few chances …
Texas Manufacturer Faces $257K Fine for Workers’ Injuries
Federal workplace safety investigators have determined that a Temple, Texas manufacturer and designer of school furnishings could have prevented an employee’s serious and permanent hand and arm injuries by installing required machine guards. Investigators with the U.S. Department of Labor’s …