INSURANCE NEWS
BHP Says Claim it Put Profit Over Safety ‘Unjustified’ in Brazil Dam Collapse Case in UK
BHP said on Wednesday that allegations a pursuit of profit over safety contributed to Brazil’s worst environmental disaster were “far-fetched and unjustified,” as the miner opened its defense to a mammoth lawsuit at London’s High Court. More than 600,000 Brazilians, …
UK Warns of Grain Threat After Russia Steps Up Port Attacks
An increase in Russian attacks on Ukrainian port infrastructure in recent weeks threatens food shipments to destinations from Gaza to southern Africa, the UK warned. British intelligence has detected a “noticeable increase in Russian risk appetite,” leading to at least …
AIG Plans to Consolidate Atlanta Ops Into Innovation Hub
American International Group, better known as the global insurance enterprise AIG, said it will consolidate its Atlanta-area operations into a huge new innovation hub in Brookhaven, on the north side of the city. The 180,000-square-foot workspace on Summit Boulevard Northeast …
Cash-Flush Florida Tries to Buy Back Its Bonds for First Time
Florida bond investors are about to have an unusual decision to make — whether to sell their debt back to the state that issued the securities in the first place. The state is offering its first ever buyback, or what’s …
Risk Strategies Adds Blaisdell Insurance to Benefits Practice in New England
National specialty insurance broker Risk Strategies reported it has acquired George W. Blaisdell Insurance, an employee benefits agency based in Hampton Falls, New Hampshire. The acquisition expands the Risk Strategies Employee Benefits Practice in its New England region. Terms of …
FAA Finalizes Pilot Training, Certification Rules for Air Taxis
The Federal Aviation Administration on Tuesday finalized comprehensive training and pilot certification rules for flying air taxis, addressing a key hurdle to the deployment of electric vertical takeoff and landing aircraft. The FAA called the rule “the final piece in …
E. Coli Outbreak Tied to McDonald’s Quarter Pounder Kills 1, Sickens Dozens
One person died and dozens fell ill from E. coli infections linked to McDonald’s Quarter Pounder hamburgers in 10 states, led by Colorado, where 26 people were sickened, the U.S. Centers for Disease Control said on Tuesday. The E. coli …
Firefighter Killed Responding to Connecticut State Park Fire
A Connecticut firefighter was killed while battling a massive brush fire at Lamentation Mountain in Berlin. Governor Ned Lamont ordered flags lowered to half-staff in honor of Robert Sharkevich Sr., a member of the Wethersfield Volunteer Fire Department and former …
Markets/Coverages: MGA Rokstone Inks 3-Year Direct & Fac Property Deal With Aviva
Rokstone, the London-based speciality re/insurance MGA that is part of the Aventum Group, has announced a three-year binding authority agreement with Aviva for its direct & facultative (D&F) property portfolio. The facility enables Rokstone to write global property D&F business …
Thousands Hit by Floods as Trami Tracks Toward Philippines
Tropical Storm Trami has dumped heavy rain across the main island of the Philippines, triggering extensive flooding that’s affected around 150,000 people as the government shut most of its operations. Trami — known locally as Kristine — has maintained its …
Ambani’s Jio in Talks With Allianz for Insurance JVs in India
Jio Financial Services Ltd., controlled by billionaire Mukesh Ambani, has held talks with Allianz SE to set up an insurance partnership in India as the German firm seeks to scrap two existing joint ventures in the country, according to people …
Australia Sues Insurer QBE Over Pricing Discounts, Shares Slip
Australia’s corporate regulator is taking QBE to court, alleging that the country’s biggest insurer by gross written premiums misled more than half a million customers about discounts on various products during a five-year period. The Australian Securities and Investments Commission …