News – Insurance Journal
SBA: $10.8M in Disaster Loans Made in Arkansas, so Far
The U.S. Small Business Administration says $10.8 million in disaster assistance loans have been made in Arkansas. SBA director Tanya Garfield in Sacramento, California, said the loans are to businesses and residents to help rebuild and recover from severe storms …
$47M Settlement Reached Over Deadly 2017 St. Louis Boiler Explosion
A $47 million settlement has been reached in an explosion that launched a van-sized boiler through the roof a St. Louis box company and onto a nearby laundry business, killing four people and injuring three more. The Simon Law Firm …
Oklahoma County Joining Suits Against Opioid Manufacturers
Oklahoma County has joined over 50 other cities and counties in the state to prosecute drug companies for damages caused by the opioid epidemic. The Oklahoman reports that all three county commissioners voted to approve a contract with the Fulmer …
Louisiana Ag Officials: Hurricane Barry Farm Damage Fairly Local
Louisiana farmers say they’ve never seen storm damage worse than Hurricane Barry left behind, but the LSU AgCenter says that statewide crop damage was minimal. AgCenter and federal Farm Service Agency workers are checking crop damage, and it could be …
Louisiana Judge: State Court Suit Over Playoff ‘No-Call’ Can Proceed Against NFL
A Louisiana judge has ruled that a damage lawsuit can continue against the NFL over the playoff “no-call” that helped the Los Angeles Rams beat the New Orleans Saints and advance to the Super Bowl. State Civil District Court Judge …
Bayer May Have Home Advantage in St. Louis Roundup Cancer Trial
Bayer AG, facing an upcoming trial in St. Louis over allegations that its Roundup weed killer causes cancer, has recruited Missouri-based expert witnesses to make its case in a place where it has century-old roots but where juries often hit …
Insurer Innovation Comes Under the Rating Agency Microscope
Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ Banham spoke with ratings agencies, thought …
Big ‘I’ Agents’ Group Names NAIC’s Eilers-Bowser to Capitol Hill Team
Heather Eilers-Bowser recently joined the Independent Insurance Agents & Brokers of America ( Big “I”) Capitol Hill team as federal government affairs counsel. Her role will include federal legislative and regulatory policy analysis and working with members of Congress and …
Town Leveled by California Wildfire Reopens Its Public Pool
The public swimming pool in Paradise, California, is reopening for the first time since a catastrophic wildfire destroyed much of the town. CBS13 in Sacramento reports state firefighters used their hoses last week to refill the pool with clean water …
Utah Medical Marijuana Program Getting on Track, 8 Growers Picked
Utah chose eight companies to legally grow medical cannabis for the first time in the conservative state, though the decision to award a smaller number of licenses raised concerns among advocates about whether supply would be robust enough. The state’s …
Utility Customers Sue Over California Wildfire Law
Two Pacific Gas & Electric customers want the federal judge overseeing the company’s bankruptcy to strike down a new California law that Gov. Gavin Newsom has championed as a way of shoring up the state’s major electric utilities in the …
Fire Forces Philadelphia Energy Solutions to File for Bankruptcy Again
Philadelphia Energy Solutions (PES) filed for its second Chapter 11 bankruptcy in less than two years on Sunday, a court filing showed, a month after a fire and explosion led to the permanent shutdown of the biggest oil refinery on …
AIG Names Ling Chief Human Resources Officer
American International Group has named Karen L. Ling as executive vice president, chief human resources officer. Ling will lead AIG’s global human resources department and be responsible for aligning AIG’s talent strategy with the company’s long-term strategic, operational and financial …
Safety Rules Proposed After Child Dies in Grease Trap at New York Restaurant
The death of a 3-year-old boy in a restaurant’s underground grease collection tank has prompted two state lawmakers to draft new safety legislation. Police say the child fell through an unsecured plastic cover over a grease trap behind a Tim …
Court Orders New Jury to Review $1.8M Award in New Jersey Transit Bus Attack
New Jersey Transit may not be solely responsible for a $1.8 million jury award to a woman injured when a fellow bus passenger hit her with a bottle, a court has ruled. A state appeals court ruled this week that …
Paris Court Rejects Compensation Claim from 1994 Estonian Ferry Disaster
A Paris court rejected a compensation claim Friday related to the 1994 sinking of an Estonian ferry, which remains one of Europe’s deadliest maritime disasters. The court ruled on the claim from more than 1,000 survivors and relatives of victims …
U.S. Criminally Charges Ohio Opioid Distributor with Profiting from Epidemic
An Ohio drug wholesale distributor and two former executives on Thursday were charged with profiting from the U.S. opioid epidemic by selling millions of pills despite signs the addictive drugs were being misused. Federal prosecutors in Cincinnati charged Miami-Luken Inc. …
Equifax’s $700 Million Data Breach Settlement Includes $300 Million for Consumers
Credit-reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information, authorities said on Monday. The largest-ever settlement for a data breach draws to a …
RSA Taps AXA’s Rueegg as Middle East CEO; Other Executives Promoted in Region
RSA Insurance has appointed Martin Rueegg as the new chief executive of the Middle East and United Arab Emirates (UAE). Rueegg joins from AXA where he was general insurance managing director for Hong Kong. He replaces Lloyd East who moves …
Liberty Specialty Forms Cyber Centre of Excellence; Rigby Named Chief Cyber Officer
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jon Rigby to the newly created role of chief cyber officer. He will report to Peter Smith, executive underwriting officer. Rigby will be based in London and takes …
Legacy Acquisition Firm DARAG Buys UK Insurer, The Underwriter
DARAG Group Ltd., a Malta-based legacy acquirer, announced the acquisition of The Underwriter Insurance Co. Ltd., a UK-based insurer in run-off. The transaction will be completed through DARAG Deutsche Versicherungs-und Ruckversicherungs-AG, DARAG’s German carrier. The acquisition is subject to regulatory …
China Opens Financial Sector to Increased Foreign Investment
China opened up its financial sector to more foreign investment as the government said it will take targeted measures to cope with rising risks and challenges facing the industry. Foreign investors can take a stake or control entities including wealth …
Ryan Specialty Group Opens Barcelona Office, Focusing on Transactional Risk Business
Ryan Specialty Group announced it will open an office in Barcelona as the next step in the evolution of the company’s transactional risk business, expanding both geographically and by product offering. This office will be led by Luc Joordens and …
French Bank Natixis Denies Reports of Takeover Talks for Credit Insurance Unit Coface
French bank Natixis said on Monday that it was not in talks over a possible takeover offer for Coface, the credit insurance subsidiary in which Natixis has a stake of around 41.7%. “Natixis states that, as previously indicated, its investment …
Method Insurance Brings Specialty Workers’ Comp Program to Illinois
Method Insurance Service is expanding and offering its specialty workers’ compensation program for underserved high-hazard, debit mod, mid-market risks in Illinois. Method is a program administrator for Service American Indemnity Company and now offers workers’ comp in 16 states focused …
Kentucky Supreme Court Rules Police Can Be Sued Over Deadly Car Chases
The Kentucky Supreme Court has ruled that police can be sued for damages when their car chases lead to the death or injury of third parties. The Lexington Herald-Leader reports the court’s 6-1 ruling last month overturned a 1952 decision …
North Carolina Zoo Worker Killed During Rescue Drill
Officials at the North Carolina Zoo say a worker was killed after falling from a tree during a rescue drill. News outlets report the state Department of Labor says the zoo worker was an arborist participating in the aerial drill …
Report: Florida Pill Mills Helped Fuel Opioid Crisis
Florida survives on tourism, but a decade ago thousands of visitors made frequent trips to the state not to visit its theme parks or beaches. Instead, they came for cheap and easy prescription painkillers sold at unscrupulous walk-in clinics. For …
Google to Pay $11 Million to Settle Age Bias Employment Claims
Google agreed to pay $11 million to end a lawsuit accusing the internet giant of discriminating against older job applicants, a deal that amounts to an average payout of more than $35,000 for 227 people who joined the class action. …
Chamber Legal Study Says Private Suits Over Privacy Don’t Help Consumers
Statutes allowing plaintiff lawyers to enforce privacy laws through private rights of action are clogging courts and provide no real benefit to consumers, a report from the U.S. Chamber of Commerce’s Institute for Legal Reform (ILR) claims. By contrast, privacy-related …
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