INSURANCE NEWS
Feds Issue Ultimatum to Louisiana on $3 Billion Coastal Restoration Project
NEW ORLEANS, La. (AP) — Federal officials want to know if Louisiana remains committed to a nearly $3 billion planned coastal restoration project that litigation has stalled. Federal officials warned in a Friday letter to the head of Louisiana’s Coastal …
Markets/Coverages: Lloyd’s Launches Disaster Resilience Vehicle for Small Island Developing States
Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has launched disaster resilience vehicle with the United Nations Capital Development Fund (UNCDF) to deliver disaster risk financing to Small Island Developing States (SIDS) in the Pacific. in partnership with the …
How a US judge Injected Culture Wars Into Boeing 737 MAX Plea Deal
A Texas federal judge with a record of ruling in favor of conservative causes injected uncertainty into Boeing’s agreement to plead guilty over two fatal 737 MAX plane crashes, seizing upon a single sentence in the deal about the U.S. …
Iranian Hacker Group Focuses on US Election Websites, Media, Microsoft says
An Iranian hacking group is actively scouting U.S. election-related websites and American media outlets as election day nears, according to a Microsoft blog published on Wednesday. Researchers say the activity suggests “preparations for more direct influence operations.” The hackers – …
Former Ga. Insurance Commissioner, Now in Prison, Surrenders Law License
ATLANTA (AP) — Former Georgia Insurance Commissioner John Oxendine, now in federal prison, has surrendered his law license after pleading guilty to conspiracy to commit health care fraud. The Georgia Supreme Court, in a brief decision on Tuesday, accepted Oxendine’s …
Grieving Families Say Georgia Island Dock Collapse Tragedy Was Preventable
JACKSONVILLE, Fla. (AP) — Regina Brinson heard a crack before the metal walkway gave way beneath her feet, plunging her into the water beneath the state-operated ferry dock on Georgia’s Sapelo Island. As strong currents swept her and others who …
Marsh: US Commercial Insurance Rates Up 3% on Hikes in Casualty
Commercial insurance rates during the third quarter in the U.S. increased 3%, with casualty rates up 10%. According to Marsh’s Global Insurance Market Index — which noted the first decline in global commercial rates since the third quarter 2017 — …
Milton Ravaged One of the Most Popular Areas for Snowbirds on Florida’s Gulf Coast
BRADENTON BEACH, Fla. (AP) — The start of “snowbird” season in Florida is only weeks away, but many Florida Gulf Coast beaches, regularly voted some of the best in the United States, are closed to the public because of the …
Gas Leak Kills 2 in Home Previously Busted for Illegal Marijuana Operation
Two people died and two others were treated for carbon monoxide poisoning at a Freedom, Maine home previously busted for an illegal marijuana grow operation, officials said Tuesday. Freedom Fire Chief Jim Waterman said his agency was alerted to a …
Former Propane Worker Charged in Virginia House Blast That Killed Firefighter
A former employee of a propane supplier has been charged in the death of a volunteer firefighter who died while responding to a house explosion in Sterling, Virginia in February, officials said this week. Roger Bentley was indicted Monday on …
Global Commercial Insurance Rates See 1st Quarterly Decline in Seven Years: Marsh
Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …
Dark Fleet Oil Tanker Caught in Recent Collision Heads to China
A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Ceres I, an aging very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in …