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News Archives - Insurance Journal
Swiss Re and UBS Among Founding Buyers of Credits From Carbon Removal Scheme
Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges …
POSTED MAY 23, 2022 8:21 AM |
Memo to Brokers: Stick With Loyal Insurers/MGAs, Price Isn’t the Only Differentiator
Instead of oscillating between extreme hard and soft markets, the insurance industry needs to promote a more sustainable business model that will help control the insurance cycle, according to an executive at the insurer Markel UK. And perhaps the ongoing …
POSTED MAY 23, 2022 6:49 AM |
British Insurance Brokers’ Assn., Allianz Create Digital Guide to Combat Underinsurance
The British Insurance Brokers’ Association (BIBA) and Allianz have developed a digital guide to support brokers in helping their customers avoid the risks of being underinsured. Underinsurance occurs when you have insufficient insurance cover that leaves you responsible for a …
POSTED MAY 23, 2022 6:48 AM |
FDA Says Abbott Baby Formula Plant on Track to Reopen in 1-2 Weeks
Abbott Laboratories and the U.S. Food and Drug Administration are on track to reopen Abbott’s baby formula manufacturing plant in Sturgis, Michigan, within one or two weeks, FDA Commissioner Robert Califf said on Thursday. Abbott, the biggest U.S. supplier of …
POSTED MAY 23, 2022 5:34 AM |
3M Ordered to Pay $77.5 Million to Veteran in Latest Earplug Trial
A jury in Pensacola, Florida federal court on Friday ordered 3M Co. to pay $77.5 million to a U.S. Army veteran who said he suffered hearing damage as a result of using the company’s military-issue earplugs. The verdict for veteran …
POSTED MAY 23, 2022 5:19 AM |
Florida DFS Posts Autopsy Reports on 18 Insolvent Insurers, 2012-2017
A week after a Florida news report pointed out that few people seem to know that post-insolvency autopsies are required by law, the state Department of Financial Services has posted 18 of the reports for property insurers online. The reports, …
POSTED MAY 23, 2022 5:01 AM |
Forest Fire in Northern New Hampshire Nearly Contained
CONWAY, N.H. — A forest fire in northern New Hampshire that’s burned 106 acres was nearly contained, officials said Friday. The Bemis Fire in Crawford Notch State Park, the White Mountain National Forest, and on private land began on May …
POSTED MAY 23, 2022 5:00 AM |
YES and No: New York’s Yankees Network Sues Insurer Over Denial of COVID Losses
Yankees Entertainment and Sports Network (YES), the broadcasting company for the New York Yankees, New York Nets and other area sports teams, is suing its insurer, Hartford Fire Insurance Co., for denying its claims for business losses that it maintains …
POSTED MAY 23, 2022 5:00 AM |
NTSB Says Cause of Arizona Helicopter Crash Still Uncertain
Federal authorities investigating a fatal crash last month near Phoenix say the helicopter went into a near vertical descent for unclear reasons when it was about to land. The National Transportation Safety Board issued its preliminary report last week in …
POSTED MAY 23, 2022 5:00 AM |
New Mexico Court Upholds $165M Damage Awards in FedEx Crash
The New Mexico Supreme Court upheld $165 million of jury awards against FedEx in a wrongful-death lawsuit stemming from a deadly crash involving a Texas family and a contract driver for the delivery company. The 2011 crash on Interstate 10 …
POSTED MAY 23, 2022 5:00 AM |
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