INSURANCE NEWS
Tornado, Winds Again Pound Kentucky, Leaving 5 Deaths, Heavy Damage
The same weather system that spawned deadly tornadoes in Texas, Oklahoma and Arkansas also killed five people in western Kentucky and left hundreds of properties damaged. Local news reports said that people died in Mercer County, Hardin County, Hopkins County …
Families of Marines Killed in California Osprey Crash Sue Boeing, Bell, Rolls Royce
Families of four of the five Marines killed when their Osprey crashed in California in June of 2022 filed a federal lawsuit alleging that the aircraft’s manufacturers failed to address known mechanical failures that led to the deaths. The Marines …
Suit by Estate of Dancer Who Died From Peanut Allergy Blames Mislabeled Cookie
WATERBURY, Conn. (AP) — The estate of a young dancer who died after eating a mislabeled cookie containing peanuts has filed a wrongful death lawsuit, claiming the failure to properly label the package was grossly negligent. Órla Ruth Baxendale, 25, …
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way it’s a 40% jump over 2023. Executives from …
Federal Reserve Assesses Vulnerability, Viability of New York City’s Basement Housing
Approximately 10% of low-income and immigrant New Yorkers live in areas with basement apartments that are at high risk of flooding, according to a report released by the Federal Reserve Bank of New York. The report,”Flood Risk and Basement Housing …
Cyclone Lashes India, Bangladesh, Killing at Least 16, Cutting Power to Millions
Strong gales and heavy rain triggered by the first major cyclone of the year lashed the coastlines of India and Bangladesh on Monday, killing at least 16 people and cutting power to millions. The winds had not stopped as night …
Fewer Top Women Earners in British Finance Services Since Pandemic: Report
Women make up a smaller proportion of top earners in British financial and professional services than before the COVID-19 pandemic, research from the London School of Economics and Political Science (LSE) showed on Monday. Women made up 19.4% of the …
Highlighting Exxon Suit, Investors Urge Firms to Keep Shareholder Spats Out of Court
A group of around 40 large European and American institutional investors on Tuesday urged companies to refrain from taking shareholders to court over disagreements relating to their proposals. The group, which represents $4.4 trillion in assets under management, highlighted the …
ABN Amro Is Latest Bank to Suffer Breach After Hack at Supplier
ABN Amro Bank NV became the latest European lender to suffer a data breach through one of its suppliers as criminals seek to exploit weaker links adjacent to banking. The Dutch bank said in a statement Friday unauthorized parties may …
Live Nation Ticket Buyers Sue in Wake of US Justice Department Case
Live Nation and its Ticketmaster unit have been hit with the first in a likely wave of new consumer antitrust lawsuits after the U.S. government and states sued to break up the two companies on Thursday. The first consumer class …
US Intelligence Agencies’ Embrace of Generative AI Is Wary and Urgent
Long before generative AI’s boom, a Silicon Valley firm contracted to collect and analyze non-classified data on illicit Chinese fentanyl trafficking made a compelling case for its embrace by U.S. intelligence agencies. The operation’s results far exceeded human-only analysis, finding …
777’s Football Empire Under Review After Lender Hires Moelis
Moelis & Co. has been hired to review 777 Partners LLC’s portfolio of football teams, people with knowledge of the matter said, raising fresh questions about the future of one of the sport’s biggest multiclub owners. The investment bank has …