INSURANCE NEWS
DeSantis, Amid Criticism, Signs Bill Making Climate Change Less of a Priority
TALLAHASSEE, Fla. (AP) — Climate change will be a lesser priority in Florida and largely disappear from state statutes under legislation signed Wednesday by Florida Gov. Ron DeSantis that also bans power-generating wind turbines offshore or near the state’s lengthy …
Family of California Veteran Who Died After Officer Knelt on His Neck Settles for $7.5M
Family members of a Navy veteran who died in 2020 after a police officer pressed a knee to his neck for nearly five minutes while he was in a mental health crisis have settled a federal lawsuit against the Northern …
SEC Updates Customer Data Hacking Rules for Wall Street
Wall Street’s top regulator on Thursday said it had updated rules to ensure investment companies and others work to detect and respond to hackers’ theft of customer data. The changes, approved unanimously by the five-member U.S. Securities and Exchange Commission, …
Texas Storms Leave 800,000 Without Power While Flights Grounded
A line of dangerous storms and flooding rains rolled over the US Gulf Coast, killing at least four people and leaving more than 800,000 customers in Texas — about 6% of the total — without power while grounding hundreds of …
Markets/Coverages: Aon Offers Carbon Capture, Storage Insurance for Energy Transition
Insurance broker Aon plc has developed a new insurance product designed for international transport and storage companies that are engaged in storing carbon dioxide for decarbonization projects across the globe. The new product is aimed at providing cover for key …
Ardonagh Group’s MDS Brazil to Acquire Brazilian Broker D’Or Consultoria
MDS Brazil, a subsidiary of Ardonagh-owned MDS Group and one of the country’s major brokers, announced it intends to acquire D’Or Consultoria, a health, dental, life insurance and pensions broker from Rede D’Or Sao Luiz. S.A. The transaction, which has …
Volkswagen Reaches $54 Million ‘Dieselgate’ Settlement With Italian Owners
Volkswagen and a group representing car owners in Italy have reached an agreement worth more than 50 million euros ($54 million) to end a legal battle over the “dieselgate” emissions scandal, they said on Wednesday. In the settlement, over 60,000 …
Wildfires Could Affect Over Half of Canada’s Oil Sands Output: Report
More than half of the oil sands production from Canada could be impacted if the wildfires in Alberta and British Columbia worsen, Rystad Energy said in a report on Thursday. WHY IT’S IMPORTANT Canada is one of the biggest oil …
Firefighters Gain Control of One Blaze Threatening Oil Sands in Alberta
Firefighters gained control of one wildfire near the main oil-sands region of Alberta on Wednesday, but continued to battle a much larger blaze to the south that’s threatening the area’s biggest city. The fire just north of Fort McMurray, located …
People Moves: Marsh McLennan Agency Appoints Rappa Fine Arts and Specie Leader
Marsh McLennan Agency, headquartered in New York, appointed Anne Rappa to the newly created position of fine arts and specie leader effective May 20. Based in New York, Rappa will work with teams in the U.S. and London to deliver …
Auto Insurance Shopping ‘Hot,’ Consumers Switching ‘Sizzling’: LexisNexis
Shoppers in the U.S. aren’t ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds. U.S. consumer auto insurance shopping activity registered as “Hot” on the LexisNexis Insurance Demand …
Sony Music Warns Companies to Stop Training AI on Its Artists’ Content
Sony Music Group, one of the world’s biggest record labels, warned artificial intelligence companies and music streaming platforms not to use the company’s content without explicit permission. Sony Music, whose artists include Lil Nas X and Celine Dion, sent letters …