INSURANCE NEWS
New Florida Law Makes Joint Settlement Offers ‘Legit’ But May Not Go Far Enough
In the celebration over the Florida Legislature’s sweeping insurance reforms approved last month, one statutory change has slipped under the radar a bit – one that insurance attorneys said will streamline the settlement process and could help reduce litigation. Among …
Judge Reduces Punitive Damages in Deadly Charlottesville Rally
A federal judge has slashed millions of dollars from the damages a jury ordered white nationalist leaders and organizations to pay for their role in the violence that erupted during the deadly “Unite the Right” rally in Charlottesville in 2017. …
Activists Say They’ll Continue to Call out Liberty Mutual for Fossil Fuels
Right after Tim Sweeney took the helm as Liberty Mutual’s CEO, a group of activists hosted a demonstration asking the him to “pick fossil fuels or Boston” by prioritizing climate policies to mitigate risk and protect the city of Boston …
Nevada Insurance Commissioner Departs, and Interim Commissioner Named
Department of Business and Industry Director Terry Reynolds announced the appointment of Nick Stosic as Interim Insurance Commissioner at the Nevada Division of Insurance. Stosic’s appointment becomes effective on Friday. The appointment was made following the Commissioner Barbara Richardson’s resignation. …
People Moves: Graham-Rogers Promotes Bishop, Makes New Hires
Graham-Rogers Insurance Promotes Bishop and Makes New Hires Jim Bishop has been promoted to division leader at Standard Lines Services, a division of Graham-Rogers Insurance, which is headquartered in Bartlesville, Oklahoma. Bishop has extensive experience in commercial and personal lines …
Skyward Specialty Announces Launch of IPO
Skyward Specialty Insurance Group, Inc. (“Skyward Specialty” or the “Company”) announced Jan. 4 the launch of its initial public offering of its common stock. The offering consists of 4,750,000 shares of common stock offered by Skyward Specialty and 3,750,000 shares …
Missouri Polyurethane Facility to Settle Clean Air Act Case
The U.S. Environmental Protection Agency (EPA) announced a settlement with Earth City, Missouri, polyurethane manufacturer Foam Supplies Inc. to resolve alleged violations of the federal Clean Air Act’s Risk Management Plan Rule. The settlement requires the company to pay a …
Indiana Arsonist Sentenced to House Arrest
ELKHART, Ind. (AP) – A woman who pleaded guilty to arson for allegedly helping her boyfriend set fire to several barns in northern Indiana was sentenced Tuesday to eight years on house arrest. An Elkhart County judge gave Sherry Thomas …
All 4 Bodies Found in Helicopter Crash Off Gulf of Mexico
BATON ROUGE, La. (AP) – The bodies of all four people who were aboard a helicopter that crashed into the Gulf of Mexico while departing an oil platform last week have been recovered. The U.S. Coast Guard recovered the bodies …
Peloton to Pay $19M Fine Over Treadmill Hazard
Peloton Interactive Inc. has agreed to pay a $19 million fine for failing to promptly report a defect with its Tread+ treadmill that could cause serious injury, U.S. regulators said on Thursday. The Consumer Product Safety Commission (CPSC), in a …
CIBC Ordered to Pay $848M in Damages to Cerberus; Plans Appeal
Canadian Imperial Bank of Commerce CM.TO plans to appeal a New York judge’s order that it pay about $848 million in damages to private equity firm Cerberus Capital Management, in a contract dispute tied to the 2008 global financial crisis. …
Insurers, Agents Spared in New Jersey Shooting Claims
A federal judge in New Jersey has ruled that a New Jersey property owner is not entitled to insurance coverage for a shooting because it never disclosed it owned the banquet hall where the shooting took place on its two …