INSURANCE NEWS
Canada’s Insurance Czar Has ‘Harsh’ Message About Climate: You May Have to Move
The soaring cost and difficulty of insuring against climate risks may force people to relocate, the head of Canada’s main financial regulator warned. Rising damages from extreme weather don’t seem to be a regulatory problem, but rather a cost problem, …
Mutually Beneficial: How One Midwest Mutual Insurer Recovered From Financial Storms
When Iowa mutual GuideOne Insurance began assessing ways to add an infusion of capital to strengthen its balance sheet, the company went to the usual places a mutual of its size might turn to for financial backing. “We were working …
Environmental Groups, California Sue Exxon Over Global Plastic Pollution
California and several environmental groups sued Exxon Mobil on Monday and accused the oil giant of engaging in a decades-long campaign that helped fuel global plastic waste pollution. Speaking at an event during Climate Week in New York City, California …
Judge Dismisses Suit Seeking to Protect Dolphins Along Miss. Gulf Coast
GULFPORT, Miss. (AP) — A federal judge has dismissed a lawsuit that sought to protect dolphins along the Mississippi Gulf Coast after dozens were killed or sickened in 2019 following the prolonged opening of a spillway used for flood control. …
A-G Specialty Expands With Acquisition of eSportsInsurance Brokerage
A-G Specialty Insurance, a brokerage specializing in coverage for niche industries, is expanding its reach in the amateur sports world with the acquisition of eSportsInsurance, based in Lilburn, Georgia. A-G Specialty, headquartered in Berwyn, Pennsylvania, and established in 1983, has …
FSLA Names New Directors for 2024-2025
The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insurance industry, named new officers for 2024-2025 at its recent annual convention in Tampa. President: Virginia Clancy, TAPCO Underwriters President-elect: Albert Geraci, Risk Placement Services …
FBI Disrupts Vast Chinese Hacking Operation That Infected Consumer Devices
The FBI has disrupted a group of hackers working at the direction of the Chinese government who targeted universities, government agencies and other organizations, Director Chris Wray said last week. The hacking campaign known as Flax Typhoon installed malicious software …
Cards Against Humanity Sues Elon Musk’s SpaceX Over Alleged Trespassing on Texas Land
The maker of the popular party game Cards Against Humanity is accusing Elon Musk’s SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas. In a lawsuit filed this week at a Texas court, …
J&J’s Bankruptcy Effort Fails Supreme Court Test, Holdouts Say
Johnson & Johnson’s third effort to end lawsuits claiming its baby powder caused thousands of women to get cancer should be dismissed because it violates US Supreme Court precedent and twists the purpose of the American bankruptcy system, holdout creditors …
Investigation Underway for Louisiana Chemical Plant Fire That Injured 3
GEISMAR, La. (AP) — Two people were injured Thursday after a fire at a chemical plant in Louisiana, officials said. It happened at the Chevron Renewable Energy Group plant in Geismar, about 66 miles (106 kilometers) west of New Orleans, …
Michigan Manufacturer Sued for Unlawful Termination of Employee Due to Disability
Navitas Systems, LLC., an Ann Arbor, Michigan-based company specializing in comprehensive energy storage solutions and battery manufacturing, violated federal law by using an unlawful company policy to deny a reasonable accommodation to an employee with a disability, and then terminated …
CAC Group Acquires Media Guarantors in California
CAC Group acquired Media Guarantors in Hollywood, California. Janet Comenos will assume the role of entertainment practice leader at CAC Group. Fred Milstein, president and CEO of Media Guarantors, will continue to lead the firm under the new structure. Media …