INSURANCE NEWS
How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore
A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. What Happened? The Singapore-flagged Hafnia …
China Asks Large State Financial Institutions to Drop Auditor PwC, Sources Say
Chinese regulators have in recent months asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, said two sources. The regulators, mainly the Ministry of …
Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk
Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter’s Cyber Center of Excellence, said he sees a three-party system emerging between insurers, policyholders, and the …
NHTSA: 51 Million Air Bag Inflators Pose Safety Risks Despite Automaker Objections
A U.S. regulator said on Wednesday it still believes that air bag inflators in 49 million U.S. vehicles assembled by 13 automakers pose serious safety risks and it is considering issuing a recall. The issue has been linked to one …
TikTok Sued by US for Allegedly Breaking Kids’ Privacy Law
TikTok was sued by the US for allegedly collecting data on children in violation of an online privacy act, three months after the popular video app sued the government over a law that could ban it across the country. In …
Insurer’s Lack of Repairs Caused Woman’s Death After Ian, Florida Lawsuit Says
Just as another potential hurricane bears down on Florida, the child of a central Florida woman is litigating a claim from a previous storm – Hurricane Ian in 2022. This time, though, the plaintiff claims not only breach of contract …
Legislation Will Provide $100M in Aid to Victims of Wildfires and Flooding in New Mexico
New Mexico Gov. Michelle Lujan Grisham has signed legislation that will provide $100 million in emergency aid to victims of recent wildfires and flooding in Lincoln County. The spending bill includes $70 million for local governments to use as zero-interest …
Vermont Suffered Millions in Damage From Last Week’s Flooding; Will Seek Federal Aid
The toll of damage from recent flooding in Vermont exceeds $6 million, and the state is asking the federal government for help, officials said. Vermont residents dealt with heavy flooding that damaged homes and infrastructure earlier this week and came …
Hawaii Governor Says a $4B Settlement for 2023 Maui Wildfire Coming Soon
The parties involved in Lahaina wildfire lawsuits against the state of Hawaii, Maui County and utilities are close to a global settlement of claims that will be worth a little over $4 billion, Gov. Josh Green told The Associated Press. …
Texas Assisted Living Facility Sued for Firing Worker With Sleep Disorder
VibraLife of Katy, LLC, a rehabilitation and assisted living facility in Katy, Texas, violated federal law when it denied an employee an accommodation for her sleep disorder and then fired her, the U.S. Equal Employment Opportunity Commission (EEOC) charged in …
Exxon Delays Golden Pass LNG to Late 2025 on Contractor Dispute
Exxon Mobil Corp. and QatarEnergy delayed the start of a $10 billion natural gas export project in Texas to the end of next year after lead contractor Zachry Holdings Inc. declared bankruptcy. The companies agreed other contractors could finish work …
Boar’s Head Hit With Consumer Lawsuit After Deli Meat Recall Over Listeria Concerns
Boar’s Head Provisions was hit with a proposed consumer class action lawsuit in New York federal court on Thursday, a day after it expanded its recall to more than seven million pounds of deli meats and other products over concerns …