INSURANCE NEWS

Fireworks Started New Jersey Forest Fire That Burned 4,000 Acres: Officials

Fireworks have been identified as the cause of the wildfire burning in New Jersey’s Wharton State Forest. The fire, which has burned more than 4,000 acres, was 75% contained by Sunday, officials said. The New Jersey Forest Fire Service reported …
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Hospital to Pay $300K to Resolve Drug Recordkeeping Allegations

A New Hampshire hospital has agreed to pay $300,000 to resolve allegations that it violated federal law by failing to keep accurate records of controlled substances, including opioids, the U.S. attorney’s office said. The Drug Enforcement Administration began an investigation …
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Banks Face Record Number of UK Lawsuits as Economy Stumbles

Banks in the UK are embroiled in the highest number of lawsuits in a decade in a trend that shows no sign of slowing down. Almost three new cases involving financial services firms were filed every day on average at …
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Catastrophe Bonds Dodge Losses After Beryl Hits Jamaica

Investors in bonds intended to help Jamaica cover the costs of a natural catastrophe won’t be affected by the havoc wrought by Hurricane Beryl, even as the prime minister declares the entire Caribbean island a disaster area. As the earliest …
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Corporate France Braces for New Era of Political Turmoil

France’s business elite is anxious about volatile politics, inexperienced policymakers, street protests and a possible wave of bankruptcies in the coming months, executives meeting in Provence said ahead of Sunday’s parliamentary election. Corporate leaders gathered on Friday and Saturday in …
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Investors Put UK Election Winner Labour on Credibility Watch

Big investors are warming to Britain after a landslide election win for its new Labour government but remain wary of placing long term bets until Prime Minister Keir Starmer can convince them his economic growth plans are credible. Sterling GBP=D3, …
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Former Kansas Newspaper Reporter Settles Lawsuit Over Police Raid for $235K

TOPEKA, Kan. (AP) — A former reporter for a weekly Kansas newspaper has agreed to accept $235,000 to settle part of her federal lawsuit over a police raid on the paper that made a small community the focus of a …
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To Insure or Self-Insure? The Question Homeowners Must Answer

No matter where you live, there’s a good chance the weather’s getting wilder. In just the past few weeks, tornadoes have wreaked havoc on Midwest and Southern states, and large swaths of southern Florida were flooded. Globally, 2023 was the …
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Crypto Hacking Thefts Double to $1.4B in First Half 2024

The amount of cryptocurrency stolen in hacks globally more than doubled in the first six months of 2024 from a year earlier, driven by a small number of large attacks and rising crypto prices, blockchain researchers TRM Labs said. Hackers …
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CFO Names Gallagher to Board of Florida Insurance Guaranty Association

Tom Gallagher, an éminence grise or elder statesman of the Florida property insurance world and current chief operating officer for People’s Trust Insurance Co., now has another job to put on his resumé: board member for the Florida Insurance Guaranty …
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Florida Governor Names Insurance Defense Lawyer to Appeals Court

The Florida property-casualty insurance industry, having seen wins and losses at the appellate court level in recent years, will soon have a familiar face on the bench that hears appeals for part of litigation-heavy south Florida. Gov. Ron DeSantis last …
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California Lawmakers Vote to Ask Voters for Permission Borrow $20B for Climate, Schools

Mired in a stream of multi-billion dollar budget deficits, the California Legislature has turned to voters for help. Lawmakers voted to place a pair of $10 billion bonds on the November ballot. If approved, the money would pay for the …
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