INSURANCE NEWS

Australia’s Weather Bureau Says El Niño Has Ended, Unsure About La Niña Formation

An El Niño weather event has ended, Australian weather authorities said on Tuesday, adding that they were uncertain if a La Niña phenomenon would form later this year, as other forecasters have predicted. The cycle between the two is hugely …
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Dutch Chipmaker Nexperia Hacked by Cyber Criminals

Dutch-headquartered chipmaker Nexperia was victim of a hacking attack by cyber criminals last month, the Chinese-owned company said on Friday, and was investigating the incident with the help of outside specialists. “Nexperia has become aware that an unauthorized third party …
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EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs

Electric car sales already are in a funk in key markets around the globe. Challenges finding enough repair technicians threatens to further stifle demand in the UK, where consumer uptake has stagnated for the better part of two years. A …
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‘Zombie Fires’ Smoldering Near Oil and Gas Wells Threaten Canada’s Drillers

Leftover blazes from last year’s record wildfire season in Canada are threatening to knock out almost 3% of the country’s natural gas production. A total of 50 so-called zombie fires still smoldering beneath layers of snow are located near oil …
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A Turnaround Story: Boost People, Then Financial Results, Aspen CEO Says

Executive Summary: When Mark Cloutier took the helm of Aspen to return the company to profitability, he knew a vital first step would begin with its group of talented people. There were cultural challenges that needed addressing along with the …
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Supplemental Claims Don’t Need to Include Damage Estimates, Fed Appeals Court Says

A federal appeals court has, at least for now, put an end to lingering questions about some property insurance claims litigation: The insured does not need to submit a competing damage estimate when filing a supplemental claim if the policy …
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California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme

A former chiropractor was sentenced to 54 years in state prison and ordered to pay more than $23 million in fines for his role in orchestrating a massive workers’ compensation fraud scheme totaling $150 million. Peyman Heidary was convicted by …
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NFL Has 8 New Impact Mitigating Helmets for Quarterbacks and Linemen

Eight new position-specific helmets for quarterbacks and linemen have been approved by the NFL and the NFL Players Association. Two of the new models manufactured by Riddell are designed for quarterbacks while six helmets are made for offensive and defensive …
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Supreme Court Rules Corporate Silence on Impactful Trends Not Securities Fraud

Shareholders cannot sue companies for fraud if they flout a rule requiring disclosure of trends expected to affect their bottom line unless the omission makes another statement misleading, the U.S. Supreme Court ruled on Friday. The 9-0 ruling authored by …
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Pilot in 2022 Fatal Crash Fell Out of Plane, Say Investigators

The pilot of an experimental aircraft fell out of the plane and hit the tail, causing the plane to crash in northeastern Pennsylvania in 2022, killing him and a pilot-rated passenger, according to federal investigators. The National Transportation Safety Board …
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Fourth Construction Worker Recovered From Site of Baltimore Bridge Tragedy

The body of a fourth victim of the collapse of the Francis Scott Key Bridge in Baltimore has been recovered. The body of the deceased construction worker was transported to the chief medical examiner and positively identified on Monday. At …
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Iowa Supreme Court Reverses $790K Jury Award in Sexual Harassment Case

DES MOINES, Iowa (AP) — Inappropriate comments by a superior to a social worker and between other employees at the state Department of Human Services did not justify a $790,000 jury award for sexual harassment, the Iowa Supreme Court has …
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