INSURANCE NEWS
Progress Reported in Salvage Operations at Baltimore Bridge Site
Salvors continue to remove containers from the cargo ship Dali and clear wreckage at the Francis Scott Key Bridge incident site, according to the Unified Command, the group of U.S. Army, Coast Guard and federal, state and local transportation, energy …
Progressive Records Five-Fold Increase in Q1 Net Income
Progressive Corp. today reported strong first quarter 2024 results with net income of $2.3 billion and a combined ratio of 86.1 Last year, net income for the first three months at the Mayfield Village, Ohio-based insurer was $447.9 million and …
Investigators Focus on Electrical System of Ship That Hit Baltimore Bridge
During the initial stages of a federal probe into the deadly collapse of Baltimore’s Francis Scott Key Bridge, investigators are focusing on the electrical power system of the massive container ship that veered off course. Jennifer Homendy, chair of the …
NHTSA Opens Investigation Into Recall of Certain Ford SUVs Over Fuel Leaks
The National Highway Traffic Safety Administration (NHTSA) said on Friday it was opening an investigation into the recall of 42,652 Ford SUVs over concerns of a fuel leak that could lead to fire hazards. The NHTSA’s recall query, or a …
People Moves: Rosensaft Joins Alliant M&A; McDougald Is President of Victor Specialty
Rosensaft Joins Alliant Insurance Services as Managing Director Jodi Rosensaft joined Alliant Insurance Services, headquartered in Irvine, California, as managing director, advisory leader – representation and warranties insurance, Alliant Specialty, in the company’s mergers and acquisitions (M&A) vertical. Rosensaft, based …
Kenya and Nigeria Recall J&J Children’s Cough Syrup Over Suspected Toxicity
Kenya’s drug regulator is recalling a batch of Johnson & Johnson children’s cough syrup, it said on Thursday, a day after Nigeria recalled the same batch of medication under the Benylin Paediatric brand. Nigeria’s health regulator said laboratory tests on …
Ukraine Nuclear-Plant Attacks Prompt Emergency Watchdog Meet
The United Nations atomic watchdog held an emergency meeting in Vienna to discuss the increasing risk of an accident at a Russian-occupied atomic power plant in Ukraine. International Atomic Energy Agency diplomats convened on Thursday to discuss safety at Europe’s …
Drought, Heat Raise Risk of Repeat of Canada’s Record-Breaking Wildfires of 2023
Canada’s emergency preparedness minister warned Wednesday the country’s wildfire season could be more explosive than last year when it led to unprecedented smoke conditions across much of the country and into the United States. Persistent drought and months of above-average …
Europe Stands Firm Against US-Driven ESG Backlash
Steady investor demand in Europe for environmental and socially responsible investments and wide-ranging regulation are helping Europe’s finance industry withstand political pressures that have pushed some U.S. peers to backtrack on their green agendas. In the United States, conservative politicians …
Climate Verdict for Swiss Women a Warning for European States, Oil Industry
Governments and companies that are lax on climate action should be worried since this week’s European human rights court ruling against the Swiss government improves the odds that other such cases could win at the top court, legal experts said. …
Explainer: Limits on PFAS in Drinking Water Could Fuel Litigation
The U.S. Environmental Protection Agency has finalized the first federal regulations on toxic “forever chemicals” in drinking water, setting tight limits that essentially require public water systems to all but eliminate their presence in American tap water. The highly anticipated …
Soaring Insurance Costs Hit as US Buyers Finally Get a Break on Car Prices
A new form of sticker shock has hit American car buyers like Darin Davis. In January, when the 56-year-old Dallas real estate agent renewed the insurance on the pearly-white 2024 Cadillac XT4 that he bought just a few months earlier, …