INSURANCE NEWS
Zurich’s First-Quarter P/C Revenue Rises on Higher Premiums
Zurich Insurance Group AG said revenue from property and casualty insurance rose 12% in the first quarter on a like-for-like basis, helped by higher premiums. Gross written premiums in the business rose 9% from a year earlier, as Asia and …
Oil-Sands Capital of Canada Now Grappling With Second Wildfire
The unofficial capital of Canada’s oil-sands industry is now facing a second wildfire that’s north of the city and closer to major energy operations. The new blaze near Fort McMurray, Alberta, is about 3 hectares (7 acres) in size, and …
Whistleblower Questions Delayed Use of Sensor Plane After Ohio Train Derailment
The U.S. government has a specialized plane loaded with advanced sensors that officials brag is always ready to deploy within an hour of any kind of chemical disaster. But the plane didn’t fly over eastern Ohio until four days after …
Last Wrongful Death Lawsuit From Astroworld Tragedy Set for Trial in September
HOUSTON (AP) — The one remaining wrongful death lawsuit filed after 10 people were killed during a deadly crowd crush at the 2021 Astroworld music festival has been set for trial in civil court in September, a judge said Tuesday. …
Texas Is Warned of Blackout Risk as Sun Sets This Summer
The risk of power failures this summer remains elevated for many parts of North America amid soaring demand and generator shutdowns. The main Texas grid is especially vulnerable at sunset when solar generation plunges and demand remains high, with the …
Buffett’s Berkshire Reveals $6.7 Billion Stake in Insurer Chubb
Warren Buffett’s Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in regulatory filings. Berkshire disclosed the holding in a filing on …
People Moves: Weinberg Joins CRC Group
CRC Group, headquartered in Honolulu, hired Andrew Weinberg as an underwriting team leader specializing in transportation. Weinberg is based in CRC’s Minneapolis office. Before joining CRC Group, he served as an underwriter at Burns & Wilcox and a commercial transportation …
Illinois Indemnity Benefits Per Claim Rose in 2022: WCRI Study
Indemnity benefits per claim in Illinois increased 5% in 2022, driven by a 4% increase in workers’ wages, a new study from the Workers Compensation Research Institute (WCRI) found. A 0.8-week increase in the average duration of temporary disability also …
Texas Lawmakers Zero In on Exploding Hemp Industry
Austin hemp entrepreneur Shayda Torabi is looking at a year filled with uncertainty. For the six years they’ve been in business, Torabi and her two sisters have operated Restart, their hemp dispensary, in a modest neighborhood in North Austin within …
Louisiana Department of Insurance Offers Guidance Following Severe Storms
Severe storms killed three people and caused significant damage in southwest Louisiana Monday. At least one EF3 tornado hit Lake Charles, officials said. The St. Martin Parish coroner reports that a female died in Cecilia after a camper rolled over …
Advocates Demand Investigation into Missouri Boarding School Abuse Allegations
ST. LOUIS (AP) — Advocates for victims of abuse at Missouri boarding schools on Monday urged the state’s attorney general to launch an investigation, work with local prosecutors and take other steps aimed at stemming the tide of abuse. Three …
FDIC Chair Gruenberg Apologizes for Agency Culture, Commits to Fixes
U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg on Wednesday said he was deeply sorry for a toxic workplace culture and his own mistreatment of employees. Testifying before Congress, Gruenberg said he accepted the findings of an independent report that …