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News Archives - Insurance Journal
Consumer Reports: On Average, Electric Vehicles Less Reliable Than Gas Vehicles
Electric vehicles have proved far less reliable, on average, than gasoline-powered cars, trucks and SUVs, according to the latest survey by Consumer Reports, which found that EVs from the 2021 through 2023 model years encountered nearly 80% more problems than …
POSTED NOVEMBER 30, 2023 3:59 PM |
Meta Asks Appeals Court to Tell FTC it Cannot Reopen Privacy Case
Meta Platforms, which owns WhatsApp, Instagram and Facebook, filed a lawsuit asking an appeals court to stop the U.S. Federal Trade Commission from unilaterally re-opening a consent agreement and ordering the social media giant to stop collecting revenue on data …
POSTED NOVEMBER 30, 2023 3:08 PM |
Woman Fell Through Floorboards and a Hidden Well Shaft in SC Home Fatality
SALEM, S.C. (AP) — An 83-year-old woman who died when she fell through rotting floorboards in a century-old South Carolina house fell down a well shaft the owner didn`t know was there, authorities said. It took rescuers nearly four hours …
POSTED NOVEMBER 30, 2023 3:02 PM |
Banker Behind Big Loans to Trump’s Company Testifies For His Defense
When Deutsche Bank loaned Donald Trump`s company hundreds of millions lawyers of dollars, the bank always followed its own guidelines that include checking out information that would-be borrowers provide, an executive testified Tuesday at the former president’s civil fraud trial. …
POSTED NOVEMBER 30, 2023 2:47 PM |
Springsteen’s Drummer, Weinberg, Says Florida Car Restorer Took $125,000 From Him
FORT LAUDERDALE, Fla. (AP) — Bruce Springsteen`s drummer, Max Weinberg, is suing the owners of a Florida car restoration company, saying they stole $125,000 by falsely promising him a like-new 1957 Mercedes-Benz and then using his money for personal expenses. …
POSTED NOVEMBER 30, 2023 2:43 PM |
Leadership Changes at The Hartford With New Heads of Commercial, Personal Lines
The Hartford said it will head into 2024 with new heads of commercial and personal lines and announced additional leadership changes. A. Morris “Mo” Tooker, who joined The Hartford in 2015 as chief underwriting officer and later became head of …
POSTED NOVEMBER 30, 2023 2:14 PM |
World to Hit 2.5F of Warming During 2023 as Hottest Year on Record
With a month to run, 2023 will reach global warming of about 1.4 degrees Celsius (2.5 Fahrenheit) above preindustrial levels, adding to “a deafening cacophony” of broken climate records, the World Meteorological Organization (WMO) said on Thursday. The WMO’s provisional …
POSTED NOVEMBER 30, 2023 11:26 AM |
Markets/Coverages: MGA Rokstone Launches Contingency Portfolio
Rokstone, the international speciality re/insurance MGA that is part of the Aventum Group, announced the launch of a new contingency portfolio with backing from “A”-rated carriers. Rokstone is launching the contingency account initially in the UK and Europe with plans …
POSTED NOVEMBER 30, 2023 11:09 AM |
Shadow Banks, Such as Insurers, Hedge Funds, Could Be Sitting on Elevated Risk: ECB
The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB’s supervision arm told …
POSTED NOVEMBER 30, 2023 10:47 AM |
London Metal Exchange Triumphs in Lawsuit Over Canceled Nickel Trades
The London Metal Exchange (LME) won a legal battle with U.S. financial firms on Wednesday which brought a case demanding $472 million in compensation after the exchange canceled billions of dollars in nickel trades last year following a surge in …
POSTED NOVEMBER 30, 2023 10:02 AM |
News Archives - Claims Journal
Elevator Plummets at a Platinum Mine in South Africa, Killing 11 Workers and Injuring 75
JOHANNESBURG (AP) — An elevator suddenly dropped around 200 meters (656 feet) while carrying workers to the surface in a platinum mine in South Africa, killing 11 and injuring 75 — 14 of them critically, the mine operator said Tuesday. …
POSTED NOVEMBER 30, 2023 4:14 PM |
Viewpoint: CMS Releases FAQs on Section 111 Penalties
The Centers for Medicare and Medicaid Services (CMS) has published a Frequently Asked Questions (FAQ) document to supplement its recently released Section 111 penalties rule. There were a few crucial clarifications that we highlight below.Start Date for Reporting Data Subject …
POSTED NOVEMBER 30, 2023 4:11 PM |
10th Circuit: No Coverage Due Under Owner-Controlled Insurance Program for $22M Verdict
A multinational company that maintains power plants operated by electric utilities cannot turn to its customer’s owner-controlled insurance program for coverage after a losing a jury trial that resulted in a $222 million verdict. A panel of the 10th Circuit …
POSTED NOVEMBER 30, 2023 6:00 AM |
P/C Insurers Face Challenging Claims Dynamics as Frequency, Severity Rise: Swiss Re
The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic inflation, according to Swiss Re. The pace of claims growth in the liability line of business challenges the insurability of …
POSTED NOVEMBER 29, 2023 5:45 PM |
Indian Rescuers Reach 41 Workers Trapped in Collapsed Tunnel for 17 Days
UTTARKASHI, India (AP) — The Press Trust of India news agency says rescuers have reached workers trapped in a collapsed mountain tunnel and have started pulling them out. One worker has been rescued so far, the report said. The rescue …
POSTED NOVEMBER 29, 2023 5:35 PM |
Ransomware Attack Prompts Multistate Hospital Chain to Divert Emergency Room Patients
NASHVILLE, Tenn. (AP) — A ransomware attack has prompted a health care chain that operates 30 hospitals in six states to divert patients from at least some of its emergency rooms to other hospitals, while putting certain elective procedures on …
POSTED NOVEMBER 29, 2023 5:25 PM |
USDA Allows Pork Plants to Keep Operating at Accelerated Speeds
WASHINGTON —The U.S. Department of Agriculture said on Tuesday it will extend for up to 90 days a trial program that allows six U.S. pork plants to operate faster processing-line speeds while collecting data on how the speeds affect meatpacking …
POSTED NOVEMBER 29, 2023 5:19 PM |
Texas CEO and His 2 Children Were Among 4 Killed in Wreck Before Thanksgiving
ROUND MOUNTAIN, Texas (AP) — The CEO of a construction company and his two young children were among four people killed the day before Thanksgiving in a three- vehicle crash that was still being investigated Monday. Zach Muckleroy, 44, head …
POSTED NOVEMBER 29, 2023 5:09 PM |
Failed Wheel Bearing Caused Ky. Train Derailment but Didn’t Trigger Alarms, CSX Says
LOUISVILLE, Ky. (AP) — A failed wheel bearing on a train car caused a derailment that sparked a chemical fire and forced residents of a small town in Kentucky out of their homes for just over a day, including most …
POSTED NOVEMBER 29, 2023 4:43 PM |
Lawsuit Blames Negligence by Plant Owner, HVAC Contractors for Cannabis Worker’s Asthma Death
A lawsuit has been filed over what has been identified as the cannabis industry’s first asthma workplace death. The mother of a worker who died from an asthma attack at a Massachusetts cannabis processing plant in 2022 has brought wrongful …
POSTED NOVEMBER 29, 2023 4:23 PM |
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