INSURANCE NEWS
Norfolk Southern Says it Will Examine Vent and Burn Decisions
Days before the National Transportation Safety Board is set to explain why first responders were wrong to blow open five tank cars and burn the toxic chemical inside after the East Palestine derailment, Norfolk Southern said Friday it plans to …
US Prosecutors Recommend DOJ Criminally Charge Boeing as Deadline Looms
U.S. prosecutors are recommending to senior Justice Department officials that criminal charges be brought against Boeing after finding the planemaker violated a settlement related to two fatal crashes, two people familiar with the matter told Reuters. The Justice Department must …
DOJ Drops Claims That TikTok Misled US Consumers in Lawsuit
The US Justice Department is dropping one of two proposed claims against ByteDance Ltd.’s TikTok, planning to focus a consumer protection lawsuit later this year on children’s privacy instead of allegations the video-sharing platform misled consumers about their data security. …
Hackers Auction Off Stolen LendingTree Consumers’ Data
Hackers are selling data about consumers of the LendingTree Inc. subsidiary QuoteWizard after the company detected unauthorized access on a cloud database hosted by Snowflake Inc., according to a person familiar with the matter. There have been several listings of …
CDK Begins Restoring Systems Systems After Cyber Hack Hits Thousands of Retailers
Retail technology and software provider CDK Global has begun work to restore systems used by over 15,000 retail locations across North America, the company said in a statement on Sunday, adding that it expects the process to take “several days.” …
Progressive, Bars Settle for $1M in SC DUI Crash That Killed Bride on Wedding Night
FOLLY BEACH, S.C. (AP) — The husband of a bride who was killed in a South Carolina beach road collision on her wedding night last year will receive nearly a million dollars in settlement connected to the crash, which a …
Climate Change Blamed on Deadly Heat Wave in Mexico, Southwest US
Human-caused climate change dialed up the thermostat and turbocharged the odds of this month’s killer heat that has been baking the Southwestern United States, Mexico and Central America, a new flash study found. Sizzling daytime temperatures that triggered cases of …
Warburg Pincus’ K2 Launches London-Based MGA, K2 Rubicon Specialty
K2 International, the specialty re/insurance underwriting platform that is owned by private equity firm Warburg Pincus, announced the launch of a London-based MGA called K2 Rubicon Specialty. The new MGA division was founded by four market veterans from Ascot Group: …
LAAIA Posts Scholarship Winners Ahead of Upcoming Florida Convention
The Latin American Association of Insurance Agencies and the Spencer Educational Foundation have announced college risk-management and insurance scholarship winners for 2024. Mendoza Lunatti, an incoming senior at Southeastern University in Lakeland, Florida, majoring in math and finance; and Manuel …
Hawaii Agrees to ‘Groundbreaking’ Settlement of Youth Climate Change Case
Hawaii on Thursday agreed to take action to decarbonize its transportation system by 2045 to settle a lawsuit by 13 young people alleging the U.S. state was violating their rights under its constitution with infrastructure that contributes to greenhouse gas …
Markets/Coverages: E&S MGA Ledgebrook Launches Architects & Engineers Product
Ledgebrook, the Boston-based excess-and-surplus managing general agent, announced it will be expanding its professional lines offerings by launching an architects and engineers product with its capacity provider, the insurer Obsidian. Carolyn Pearce has joined Ledgebrook as its A&E practice leader …
Driver Who Blamed Injury on Rushing to Finish Schedule Fails to Deliver Evidence
A delivery driver failed to convince her employer or the Virginia Workers’ Compensation Commissioner (VWCC) that she injured her knee in a fall on the job because she had to rush to complete deliveries on a schedule. She maintained that …