Court Tosses $223.8M Verdict Against J&J in Talc Cancer Case
News Archives - Insurance Journal Oct 3, 2023 | 11:36 amA New Jersey appeals court on Tuesday threw out a $223.8 million verdict against Johnson & Johnson that a jury had awarded to four plaintiffs who claimed they developed cancer from being exposed to asbestos in the company’s talc powder[…]
Read more...People Moves: Lockton Europe Taps WTW’s Rowley as Head of N. American Property; Sompo Int’l Names Faugas From AGCS as France Country Manager, Insurance
News Archives - Insurance Journal Oct 3, 2023 | 11:24 amThis edition of International People Moves details appointments at Lockton Europe and Sompo International A summary of these new hires follows here. Lockton Europe Taps WTW’s Rowley as Head of North American Property Lockton, the independent insurance broker, announced the[…]
Read more...Independent Agents Are Shopping Premiums Despite Record High Carrier Satisfaction
News Archives - Insurance Journal Oct 3, 2023 | 11:18 amIndependent insurance agents report unprecedented satisfaction with their carrier partners, but that doesn’t mean they aren’t keeping their options open due to the rising cost of premiums. According to the J.D. Power 2023 U.S. Independent Agent Satisfaction Study, overall agent[…]
Read more...Rapid Shocks in Store for Insurers in New Bank of England Stress Tests
News Archives - Insurance Journal Oct 3, 2023 | 10:33 amThe Bank of England said on Tuesday it will check the health of general insurers in 2025 with a “stress test” that includes a rapid series of shocks, as sector capital rules are eased. Regulators have introduced stress tests since[…]
Read more...Alliant Names Griggs SVP of Americas Division, Based in Tennessee
News Archives - Insurance Journal Oct 3, 2023 | 10:19 amAlliant Insurance Services, a major insurance distributor based in California, has named Mike Griggs senior vice president of its Americas division. Griggs, with almost 20 years in the insurance industry, will be based in Nashville and will manage property-casualty insurance[…]
Read more...Louisiana Citrus Farmers Seeing a Mass Influx of Salt Water
News Archives - Insurance Journal Oct 3, 2023 | 10:10 amCommercial citrus growers have dwindled over the past few decades in south Louisiana, where farmers have had to battle hurricanes, flooding, invasive insects, freezes and drought to keep their groves alive. The latest hurdle comes from a slow-moving threat, a[…]
Read more...Consumer Product Injuries Continue to Rise After Low in 2020
News Archives - Insurance Journal Oct 3, 2023 | 10:02 amFollowing the record low number of consumer product-related injuries reported in 2020 (an 18% decrease), injuries increased 6.8% in 2021 and 7.8% in 2022, according to the Consumer Product Safety Commission (CPSC). The agency reported that in the first seven[…]
Read more...Lawsuits Blame Utility for Washington Fire That Killed Man and Burned Hundreds of Homes
News Archives - Insurance Journal Oct 3, 2023 | 09:55 amTwo lawsuits have been filed against an electric utility for allegedly sparking a fire in eastern Washington that killed a man and burned approximately 240 homes. A lawsuit filed in Spokane County Superior Court says Inland Power and Light Company`s[…]
Read more...Bill Gates-Backed Florida Startup Aims to Turn Oil-Drilling Gas into Useful Methanol
News Archives - Insurance Journal Oct 3, 2023 | 09:50 am(Bloomberg) — Semi trailer-sized machines could provide a unique solution to a major source of the fossil fuel industry’s methane problem. Rather than flaring or venting the planet-warming gas into the atmosphere, the machines can convert it into methanol, a[…]
Read more...Video Shows Officers Surrounding Bloodied Man During Florida Traffic Stop
News Archives - Insurance Journal Oct 3, 2023 | 09:33 amJACKSONVILLE, Fla. (AP) — A traffic stop captured on video by a bystander shows a handcuffed Black man with swollen eyes and a bloody face sitting on the ground surrounded by officers outside a vehicle in northeast Florida, and the[…]
Read more...Nooses Found at Construction Site Lead to Lawsuit Against Amazon, Contractors
News Archives - Insurance Journal Oct 3, 2023 | 09:07 amFive Black and Hispanic electricians who felt threatened when several nooses were found at an Amazon warehouse construction site in Connecticut have filed a federal civil rights lawsuit against the company and two contractors, accusing them of inaction, retaliation and[…]
Read more...Georgia Group Launches Ad Campaign Pushing Kemp’s Tort Reform
News Archives - Insurance Journal Oct 3, 2023 | 09:06 amATLANTA (AP) — A political group linked to Georgia Gov. Brian Kemp says it is launching an ad campaign backing the Republican`s efforts to make it harder for people to file lawsuits and win big legal judgments. The group, called[…]
Read more...People Moves: BHSI Promotes Meyer to Head of Product Liability, North America; Forte Named President of Berkley Public Entity
News Archives - Insurance Journal Oct 3, 2023 | 08:31 amBerkshire Hathaway Specialty Insurance (BHSI) announced it has promoted Angela Meyer to head of Product Liability in North America. She was previously head of Life Sciences in North America. Meyer joined BHSI in 2014 as senior underwriter, casualty, and has[…]
Read more...Typhoon Koinu on Track to Hit Taiwan Before Heading to Hong Kong
News Archives - Insurance Journal Oct 3, 2023 | 04:13 amSevere Typhoon Koinu will pass over the southern tip of Taiwan in coming days before heading toward Hong Kong in a weakened state, according to regional observatories. The storm will intensify into a super typhoon with maximum sustained winds near[…]
Read more...MGA Skyrisks Officially Launches With Investment, Capacity From Convex Group
News Archives - Insurance Journal Oct 3, 2023 | 03:29 amSkyrisks Ltd., the London-based MGA and specialist in the advanced air mobility (AAM) sector, has officially launched with capacity and a cornerstone investment from Convex Group, the specialty re/insurer. Financial details of Convex’s investment were not disclosed. Skyrisks said AAM[…]
Read more...PE Firm Cinven Eyes Sale of German Life Insurer Viridium: Sources
News Archives - Insurance Journal Oct 3, 2023 | 02:34 amCinven is considering a sale of German life insurer Viridium after another of its insurance investments in Europe, Eurovita, was hit by heavy customer outflows earlier in the year, three people familiar with the matter told Reuters. The private equity[…]
Read more...China Bars Executive at US Firm Kroll From Leaving Mainland: WSJ
News Archives - Insurance Journal Oct 3, 2023 | 02:27 amChina blocked a senior executive at US risk advisory firm Kroll from leaving the mainland, the Wall Street Journal reported, in the latest case of authorities imposing exit bans on the employees of foreign companies. Michael Chan, a Hong Kong-based[…]
Read more...SMBC Aviation Receives Cash Insurance Settlement Over Jets Stranded in Russia
News Archives - Insurance Journal Oct 3, 2023 | 02:08 amIreland-based aircraft lessor SMBC Aviation Capital on Monday said it had received a cash insurance settlement of $710 million for its jets previously leased to Russia’s state-owned airline Aeroflot. The lessor under Japan’s Sumitomo Mitsui Financial Group said the settlement[…]
Read more...McDonald’s, Wendy’s Defeat Lawsuit Over Size of Burgers
News Archives - Insurance Journal Oct 3, 2023 | 01:39 amMcDonald’s and Wendy’s have defeated a lawsuit accusing them of deceiving hungry diners by exaggerating the size of their burgers. In a decision on Saturday, U.S. District Judge Hector Gonzalez in Brooklyn found no proof that the fast-food chains delivered[…]
Read more...Appeals Court Blocks Venture Capital Fund’s Grant Program for Black Women
News Archives - Insurance Journal Oct 3, 2023 | 01:15 amA federal appeals court on Saturday blocked a venture capital fund from moving forward with a program that awards funding to businesses run by Black women in a case by the anti-affirmative action activist behind the successful U.S. Supreme Court[…]
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