INSURANCE NEWS
Claimants for Deadly Mariana Dam Collapse File Injunction Against BHP, Vale
Lawyers representing claimants taking legal action over Brazil’s worst environmental disaster filed an injunction this week against miners BHP and Vale for “trying to derail” a potential 36 billion-pound ($46 billion) London lawsuit. More than 720,000 Brazilians, including 46 local …
BMS Australia Launches Agriculture Business
BMS Australia, the London-based specialist insurance and reinsurance broker, announced the launch of its Agriculture business with Ceri Martin appointed to lead the division. The establishment of this new business is part of BMS’ global strategy to deepen its expertise …
Insurers Seek Subrogation Against Norfolk Southern Over Ohio Train Derailment
Four insurance companies filed a subrogation lawsuit against Norfolk Southern in federal court last week, alleging the rail carrier’s negligence led to the 2023 East Palestine, Ohio train derailment and subsequent fire, explosion and release of toxic chemicals. Erie Insurance …
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey
Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums. Within the last five years, homeowners’ insurance premiums have …
Guidance and Insurance Implications for the CDK Global Cyberattack
On June 18 and 19, 2024, CDK Global (CDK), a leading provider of cloud-based software to auto dealerships in North America, fell victim to a two-tiered cyberattack. 15,000 dealerships are potentially impacted, with multiple departments affected, including sales, financing and …
Supreme Court Blocks EPA’s ‘Good Neighbor’ Air Pollution Plan
The U.S. Supreme Court blocked an Environmental Protection Agency regulation aimed at reducing ozone emissions that may worsen air pollution in neighboring states, handing a victory on Thursday to three Republican-led states and the steel and fossil-fuel industries that had …
Here Are the Legal Battle Lines in Ireland’s Multi-Billion Euro Russian Jet Trial
The opening salvos have been fired in a 2.5 billion euro ($2.7 billion), Irish court battle between some of the world’s largest aircraft lessors and their insurers over around 80 jets stranded in Russia. Dublin’s High Court earlier this month …
Lawsuits Targeting ‘Climate Washing’ Becoming More Frequent
Companies accused of misrepresenting their progress on tackling climate change are increasingly finding themselves the target of litigants, as activist groups look to hold some of the world’s worst polluters to account. As many as 47 new climate washing cases …
After Oil, Russia May Be Building a Shadow Fleet for Gas
In the months that followed its invasion of Ukraine and punitive Western restrictions imposed in response, Russia amassed a shadow fleet to ferry its oil around the world. Now there is growing evidence Moscow has begun to do the same …
Tennessee Turns Probe of Questioned Graceland Sale Over to Fed Authorities
MEMPHIS, Tenn. (AP) — The Tennessee attorney general’s office said Tuesday that it has turned over its investigation into the failed sale of Elvis Presley’s home Graceland at a foreclosure auction to federal authorities, a newspaper reported. The Commercial Appeal …
NC Lawmakers Ratify Bill That Trims Taxes on Captives, Risk-Retention Groups
North Carolina, already ranked among the top states for captive insurance firms, could soon become a little more attractive for captives and risk-retention groups if the governor signs Senate Bill 319. State lawmakers this week unanimously approved the bill, which …
No Workers’ Comp for Employee Injured When Vehicle Crashed Through Her Office Wall
An employee at the Virginia Department of Health who was seriously injured when a vehicle crashed through the wall of her first floor office is not entitled to workers’ compensation benefits. The Virginia Workers’ Compensation Commission (WCC), in a 2-1 …