INSURANCE NEWS
NC Bill to Make Manufacturers Pay for ‘Forever Chemicals’ Advances in House
RALEIGH, N.C. (AP) — North Carolina’s top environmental regulator could order manufacturers of “forever chemicals” to help pay for water system cleanup upgrades whenever they are found responsible for discharges that contaminate drinking water beyond acceptable levels, under legislation advanced …
Overnight Fire Damaged or Destroyed 15 Boats at Nevada Marina
Authorities are trying to determine the cause of a fire that damaged or destroyed about 15 boats at a Lake Mead National Recreation Area marina in Nevada. National Park Service officials said the fire began around 12:30 a.m. on Sunday …
Florida Jury Says Chiquita Brands Must Pay $38M for Colombia Deaths
Banana giant Chiquita Brands must pay $38.3 million to 16 family members of people killed during Colombia’s long civil war by a violent right-wing paramilitary group funded by the company, a federal jury in Florida decided. The verdict Monday by …
R&Q Warns Its Financial Stresses Could Hit Business Stability and Lead to Liquidation
R&Q Insurance Holdings Ltd. warns it is facing growing financial difficulties, which could affect the “company’s stability as a business” and ultimately lead to liquidation. In a June 13 statement, R&Q acknowledges it has been struggling under the weight of …
Survey: US Business Owners Seek More Insurance Coverage as AI, Election Risks Loom
Artificial intelligence and U.S. election have emerged as significant risks to businesses this year with an overwhelming 80% of owners worried their insurance will not cover a specific loss, a survey by insurance brokerage Gallagher showed on Wednesday. Companies are …
Insurance Broker Witness at Menendez Bribery Trial Faced Tough Cross-Examination
The prosecution’s prized turncoat witness at the bribery trial of U.S. Sen. Bob Menendez was politely combative Tuesday as defense lawyers tried to poke holes in his testimony and portray him as a habitual liar. Jose Uribe spent a third …
Major Defense Contractor Accused of Discriminating Against Older Workers
A major defense contractor was sued Tuesday over allegations that it discriminated against older workers in job ads. The lawsuit filed in federal court in Boston accuses RTX Corporation of posting ads that target younger workers at the expense of …
Specialist Risk Group’s MGA, MX, Agrees to New Long-Term Capacity Arrangement
Specialist Risk Group, the London-based insurance intermediary, announced that its managing general agent, MX, has agreed to a new capacity agreement with program manager Accredited Insurance (Europe) Ltd. (AIEL). AIEL is supported by a panel of “A” rated reinsurers, said …
Canada’s Largest School Board Targeted by Ransomware Attack
Canada’s largest school district is investigating a cyber incident, adding to a series of ransomware attacks that have caused disruptions to companies and public institutions in the country. The Toronto District School Board alerted parents Wednesday in an emailed letter, …
Commodity Ship Hit by Drone Near Yemen Is Taking on Water
A commodity carrier was taking on water after being hit by a drone near Yemen, the latest incident underscoring the dangers of sailing through the Red Sea region. The UK Navy said Wednesday that a ship was hit by a …
Zombies: Ranks of World’s Most Debt-Hobbled Firms Soaring, and Not All Will Survive
They are called zombies, companies so laden with debt that they are just stumbling by on the brink of survival, barely able to pay even the interest on their loans and often just a bad business hit away from dying …
Most US Drivers Support Anti-Speeding Technology in Vehicles: IIHS Survey
More than 60% of the drivers in the United States would find it acceptable if their vehicle provided an audible and visual warning when they exceeded the posted speed limit, a survey by Insurance Institute for Highway Safety showed on …