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News Archives - Insurance Journal
Ki Enters Partnership With Beazley, Expanding Capacity for Digital Follow Syndicate Ki, the digital and algorithmically driven Lloyd’s syndicate, announced a partnership with Beazley whereby Ki will offer additional follow capacity from Beazley syndicate 2623/623 through its digital platform from April 2, 2024. Ki said this is another major milestone in …
POSTED MARCH 28, 2024 4:43 PM |
Institutional Investor GIC Finalizes Acquisition of Insurance Broker Miller Miller, the London-based independent specialist re/insurance broker, announced that GIC, Singapore’s sovereign wealth fund, has completed the acquisition of Cinven’s shares in Miller. GIC and private equity firm Cinven acquired Miller in 2021 from Willis Towers Watson. Since then, Miller …
POSTED MARCH 28, 2024 4:22 PM |
J&J to Pay $75 Million to Settle Mississippi’s Baby Powder Suit Johnson & Johnson will pay $75 million to settle a consumer protection lawsuit filed by Mississippi over the company’s talc-based baby powder, according to people familiar with the matter, resolving litigation in which the state had sought as much as …
POSTED MARCH 28, 2024 3:48 PM |
Fidelis Partnership Gets ‘In Principle’ Approval From Lloyd’s to Launch Syndicate The Fidelis Partnership, the Bermuda-based managing general underwriter, announced that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance Holdings Ltd. and Hampden Agencies, the largest provider of private capital to Lloyd’s. …
POSTED MARCH 28, 2024 3:01 PM |
Yellen Sees Insurance Payouts Helping Fund New Baltimore Bridge Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week. “My expectation would be that, ultimately, there’ll be insurance payments in part to cover …
POSTED MARCH 28, 2024 2:14 PM |
Berkeley to Halt Ban on Natural Gas Piping in New Buildings The city of Berkeley, California, has agreed to halt enforcement of a ban on natural gas piping in new homes and buildings that was successfully opposed in court by the California Restaurant Association, the organization said. The settlement follows the …
POSTED MARCH 28, 2024 2:11 PM |
UK Court Rules That $10 Billion Jet Dispute Should Be Heard in London, Not Moscow A $10 billion battle between reinsurers and aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard in London rather than Moscow, London’s High Court ruled on Thursday. Aircraft lessors, including Ireland’s AerCap and …
POSTED MARCH 28, 2024 12:53 PM |
Boston Settles Wrongful Death Suit Over Police Shooting of Mentally Ill Man for $4.6M The city of Boston will pay about $4.6 million to settle a wrongful death lawsuit stemming from the police killing of a mentally ill man in 2016. The mother of Terrence Coleman, 31, filed the federal lawsuit six years ago. …
POSTED MARCH 28, 2024 12:11 PM |
Automated Braking Would Not Have Prevented Pennsylvania Train Crash The collision of three Norfolk Southern trains in Pennsylvania early this month highlights the shortcomings of the automated braking system that was created to prevent such crashes. None of the circumstances the National Transportation Safety Board described Tuesday in its …
POSTED MARCH 28, 2024 12:03 PM |
FBI: Murdaugh Lied About Where Stolen Money Went and Who Helped Him Steal Convicted killer Alex Murdaugh didn’t tell the truth when FBI agents repeatedly asked him where more than $6 million he stole ended up and whether another attorney not yet identified helped him steal from clients and his law firm, federal …
POSTED MARCH 28, 2024 11:51 AM |
News Archives - Claims Journal
Underwriters’ Dilemma: Is AI a Cyber or Tech E&O Risk? When it comes to artificial intelligence, more questions than answers keep underwriters from venturing into the space and lead to a lack of clarity, according to panelists at The Professional Liability Underwriting Society’s 2024 cyber symposium in New York City. …
POSTED MARCH 28, 2024 3:37 PM |
J&J to Pay $75 Million to Settle Mississippi’s Baby Powder Suit Johnson & Johnson will pay $75 million to resolve a consumer protection lawsuit filed by Mississippi over the company’s failure to add a safety warning to its talc-based baby powder, according to people familiar with the settlement. The pact comes …
POSTED MARCH 28, 2024 2:13 PM |
Louisiana’s Temple Seeks Reform in Response to State Farm’s California Changes Louisiana Insurance Commissioner Tim Temple pointed to State Farm’s decision to non-renew policies in the California market as a warning for lawmakers to modernize Louisiana’s regulatory framework and address legal system abuse – or risk insurers leaving the catastrophe-prone state. …
POSTED MARCH 28, 2024 2:07 PM |
Subaru Recalls 118,000 US Vehicles Over Faulty Air Bag Sensors Subaru is recalling 118,000 SUVs and sedans in the United States to address a faulty sensor that can prevent air bags from deploying in a crash, the National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The recall covers various …
POSTED MARCH 28, 2024 5:00 AM |
More Than Half of Homeowners Fear Climate Change, Most Worry About Rising Home Insurance Costs Homeowners are increasingly worried about hazards and rising insurance costs as temperatures rise in the U.S. A survey of nearly 2,000 U.S consumers shows 51% of homeowners are worried climate change-related hazards will affect their homes, while others polled worry …
POSTED MARCH 28, 2024 5:00 AM |
Accuweather Predicts Above-Average 2024 Atlantic Hurricane Season Accuweather meteorologists are predicting an above-average Atlantic hurricane season with as many as 20-25 named storms. The 2024 hurricane season is forecast to feature 8-12 hurricanes including 4-7 major hurricanes. This year has the potential to break the all-time record …
POSTED MARCH 28, 2024 5:00 AM |
Bank of America Wins Dismissal of Iranian Discrimination Claims Bank of America Corp. won dismissal of a lawsuit’s claims that it discriminates against Iranians in reviewing customer accounts to ensure they comply with US sanctions policies. The bank didn’t violate US civil rights law by cutting off the credit …
POSTED MARCH 28, 2024 5:00 AM |
SEC Suit Against Coinbase Can Go Forward, Judge Rules The US Securities and Exchange Commission can proceed with its lawsuit against Coinbase Inc., the biggest US cryptocurrency-trading platform, claiming the company failed to register as a securities business, a federal judge in New York ruled. The SEC adequately alleged …
POSTED MARCH 28, 2024 5:00 AM |
Six Presumed Dead After Bridge Collapse, as Port Disruptions Hit Cars to Coal The 1.6 mile-long bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks. As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., …
POSTED MARCH 27, 2024 2:11 PM |
Clorox Audit Revealed Cybersecurity Flaws at Its Plants in 2020 A few years before a 2023 cyberattack disrupted manufacturing at one of the largest US producers of disinfectants ahead of flu season, an audit warned of systemic cybersecurity flaws within the company’s production systems. Among the shortcomings highlighted by the …
POSTED MARCH 27, 2024 2:07 PM |
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