INSURANCE NEWS
Jury Awards $24M to Pennsylvania Man Injured in Botched Spinal Surgery
A Pennsylvania jury has awarded a $23.87 million verdict to James Spangler, a 58-year-old Harley Davidson mechanic from Manchester who suffered catastrophic injuries following a botched spinal surgery. The verdict represents the largest published medical malpractice award in York County’s …
Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea
An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from attacking commercial shipping. The 900-foot ship was hit by an uncrewed surface …
Cleanup Begins After Chemical Plant Fire Forced Evacuations Near Atlanta
CONYERS, Ga. (AP) — Some residents east of Atlanta were evacuated while others were told to shelter in place Sunday to avoid contaminants from a chemical plant fire that sent a massive plume of dark smoke high into the sky …
Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI
The average cost of workers’ compensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022, according to a new study from the Workers Compensation Research Institute …
Judge Dismisses Shareholder Lawsuit Against Tesla, Musk Over Self-Driving Promises
Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker’s self-driving technology in order to boost its stock price. U.S. District Judge …
Miller Completes Acquisition of Spanish Specialty Re/Insurance Broker Bruzon
Miller, the London-based specialist re/insurance broker, announce it has completed the acquisition of Madrid-based commercial insurance broker Bruzon Correduría de Seguros y Reaseguros. The transaction, which first was announced in May, closed on Sept. 30 following the receipt of all …
People Moves: Liberty Specialty Markets Promotes Nelson to CUO, UK & MENA, Succeeding O’Neill; Pen’s Trafalgar Marine Trades Taps Geo’s Colbourn as Senior UK U/W
This edition of International People Moves details appointments at Liberty Specialty Markets, the MGA Pen Underwriting, and Lloyd’s syndicate, AEGIS London. A summary of these new hires follows here. Liberty Specialty Markets Promotes Nelson to CUO, UK & MENA Regions, …
Europe Set for Colder Winter Than Last Year as La Niña Arrives
Europe’s winter is forecast to be colder than last year — Germany’s third-mildest on record — as a weakened La Niña finally arrives, but it will still be warmer than longer-term averages. France, the UK and Scandinavia will be the …
Markets/Coverages: MGA Verve Launches Captive Insurance Product and Broker Portal
Verve Risk Services, the London-based managing general agent, announced the launch of a captive insurance product and its “Verve Aura” broker portal, designed to meet evolving customer needs. Formed in 2016 and supported by OneAdvent, the specialist MGA services platform, …
Investigation Started into Plane Crash That Killed Several People in North Carolina
MANTEO, N.C. (AP) — Federal authorities were investigating this week after multiple people died when a single-engine plane crashed Saturday afternoon in a wooded area at Wright Brothers National Memorial’s First Flight Airport, the National Park Service said. The crash …
Florida’s Heritage Stock Price Drops After ’60 Minutes’ Report on Adjusters
Just as Florida property insurers face another round of storm claims, CBS News has raised questions about alleged insurer fraud stemming from claims incurred in the last major storm – Hurricane Ian, which hit much of southwest Florida two years …
Jury Awards $300M to 3 Women Over Alleged Sex Abuse by Virginia Doctor
A jury has ruled in favor of three women who alleged they were sexually abused while patients at a Virginia children’s hospital, awarding them a total of $300 million in damages. The jury in Richmond Circuit Court on Friday awarded …