INSURANCE NEWS
GSK, Boehringer Put Profits Over User Safety, Zantac Jury Told
Drugmakers GSK Plc and Boehringer Ingelheim GmbH prioritized profits over consumer safety by hiding the cancer risks of their once-blockbuster heartburn drug Zantac, according to lawyers representing a Chicago woman in the first of thousands of such claims to go …
Biden Vetoes Bid to Repeal US Labor Board Rule on Contract, Franchise Workers
President Joe Biden followed through on Friday on his vow to veto a Republican-backed measure that would have repealed a U.S. labor board rule treating companies as the employers of many of their contract and franchise workers and requiring them …
Florida Saw Jump in Workers’ Comp Cost per Claim in 2022-23, WCRI Report Shows
Call it the effects of wage creep during the pandemic, along with a little bit of creep in the duration of benefits. Employers and insurers in Florida saw a 7% increase in total cost per workers’ compensation claim in 2022 …
Maryland Hospitality Firm Settles Employee Pregnancy Discrimination and Retaliation Suit
Savage River Lodge and Little Crossings will pay $150,000 and furnish equitable relief to settle federal charges that they discriminated against an employee because of her pregnancy and then fired her. The Frostburg, Maryland businesses, part of Fronterra Resources, offer …
Hub Acquires Williams Insurance Services in California
Hub International Ltd. acquired Merriwether & Williams Insurance Services Inc. Merriwether & Williams has locations in San Francisco and Los Angeles, California, The firm provides contractor development abd bonding programs, aligned risk management and special project consulting, and insurance brokerage …
New York Restricts Sale of Weight-Loss and Muscle-Building Supplements to Minors
It’s now illegal to sell weight-loss and muscle-building supplements to minors in New York, under a first-in-the-nation law that went into effect this week. Experts say loose federal regulation of dietary supplements has resulted in these products sometimes including unapproved …
Extreme Weather Is Driving More US Power Outages, Studies Show
For decades, residents of eastern Queens in New York City have complained that they’re more likely to lose power when extreme weather hits, even as lights in other parts of the city stay on. A new study that looks at …
Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court
Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that lets St. Paul and other insurers off …
Yemen’s Houthis Threaten Ships in Mediterranean Sea That Are Sailing to Israeli Ports
Yemen’s Houthis will target ships heading to Israeli ports in any area that is within their range, military spokesman Yahya Sarea said in a televised speech on Friday. “We will target any ships heading to Israeli ports in the Mediterranean …
Binance Crypto Founder Zhao Sentenced to Four Months in Prison
Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating U.S. laws against money laundering at the world’s largest cryptocurrency exchange. Once considered the most powerful crypto industry …
Pennsylvania High Court to Decide If Workers’ Compensation Covers CBD Oil
A veteran Pennsylvania workers’ compensation attorney will soon have a chance to argue before the Pennsylvania Supreme Court that his own use of cannabinoid oil (CBD oil) is covered by workers’ compensation. It’s an argument he won last November with …
Tech Update: Marsh McLennan Launches AI Solution to Manage Supply Chain Risks
Marsh McLennan, the insurance and reinsurance broker, has launched Sentrisk, an artificial intelligence-powered platform, which aims to help businesses manage global supply chain risk. Created through the combined capabilities of Marsh McLennan businesses Marsh and Oliver Wyman, Sentrisk uses advanced …