INSURANCE NEWS
US Ban on Worker Noncompetes Faces Uphill Legal Battle
The U.S. Federal Trade Commission’s ban on “noncompete” agreements commonly signed by workers is likely vulnerable to legal challenges, experts said, as some courts have grown increasingly skeptical of federal agencies’ power to adopt broad rules. The commission in unveiling …
Report: Cybercrime ‘A Thriving Business’ as US Claims Frequency Rises
Cyber claims frequency in the U.S. rose 13% last year, a new report shows. According to Coalition’s 2024 Cyber Claims Report, released this week, cybercrime is “a thriving business that adversely impacts” the economy. In 2023, there were more than …
Class Action Opposes Limiting Ship’s Liability for Baltimore Bridge Collapse
A Baltimore small business has filed a class action against the owner and operator of the cargo ship Dali that crashed into the Francis Scott Key Bridge last month. The suit, filed Thursday by the Karen Austin, the founder of …
Missouri House Backs Legal Shield for Weedkiller Maker Facing Cancer Lawsuits
JEFFERSON CITY, Mo. (AP) — The manufacturer of a popular weedkiller won support Wednesday from the Missouri House for a proposal that could shield it from costly lawsuits alleging it failed to warn customers its product could cause cancer. The …
Central US Braces for Severe Weather Outbreak
An active weather pattern could bring destructive tornadoes, heavy rains, large hail and strong wind gusts to parts of the central United States over the next several days, according to meteorologists at the National Weather Service and Accuweather. Two strong …
Judge Won’t Dismiss Lawsuits Against Travis Scott Over Deadly Astroworld Concert
HOUSTON (AP) — A judge has declined to dismiss hundreds of lawsuits filed against rap star Travis Scott over his role in the deadly 2021 Astroworld festival in which 10 people were killed in a crowd surge. State District Judge …
Here’s Why Experts Don’t Think Cloud Seeding Caused Dubai Flooding
With cloud seeding, it may rain, but it doesn’t really pour or flood — at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said. Cloud seeding, although decades old, is still controversial in the weather …
US Revives Net Neutrality to Establish Authority Over Internet
US regulators reinstated net neutrality rules that aim to ensure everything on the internet is equally accessible, reclaiming authority over broadband service and setting the stage for legal challenges. The Federal Communications Commission’s Democratic majority adopted rules that bar broadband …
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks
A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a report released by Lockton Re. The report, “A Kaleidoscope of Possibilities: Preparing for Ivan Wiper,” focuses on the consequences of …
Price or Safety? Priorities Change for Small Businesses After a Workers Comp Claim
Previous workers’ compensation claims can present an opportunity for agents serving small-business clients. The Hanover’s “2024 Small Business Risk Report: A Focus on Workers’ Compensation,” which surveyed 300 small business owners, found that a workers’ compensation claim experience can influence …
EU Should Revisit Bank and Insurer Capital Rules: French President Macron
French President Emmanuel Macron called on Thursday for a revision of how Europe applies minimum capital rules to banks and insurers so that they are not too risk-averse and Europe is put at an economic disadvantage. The Basel Committee of …
Thames Water Debt Insurer Taps Advisers as Crisis Deepens
A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured …