News – Insurance Journal
Citing China, Senators Make Bipartisan Bid to Accelerate U.S. Self-Driving Vehicle Industry
Fri, 23 Apr 2021 11:43:14 +0000
Two U.S. senators are working to attach legislation to allow automakers to deploy tens of thousands of self-driving vehicles on U.S. roads to a bipartisan China bill, a significant reform that could help speed the commercial use of automated vehicles. …
Lloyd’s Receives ‘AA-‘ from Its New Rating Agency KBRA
Fri, 23 Apr 2021 10:30:55 +0000
Kroll Bond Rating Agency (KBRA) has assigned an “AA-” insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. Newly appointed to provide an additional independent opinion of the market’s financial strength, KBRA joins three other agencies that rate …
Alera Group Acquires New York’s The Waterford Group
Fri, 23 Apr 2021 10:00:55 +0000
Alera Group, a financial services and risk management company, has acquired The Waterford Group, a Rochester, New York-based retirement plan specialist providing consulting and fiduciary services to companies. Following the acquisition, The Waterford Group team will continue serving clients in …
Worker Dies in Accident at Submarine Building Facility in Rhode Island
Fri, 23 Apr 2021 10:00:12 +0000
An employee at Electric Boat’s facility in Rhode Island has died from injuries suffered in a workplace accident, the company said. Sean Davies, a vice president for the Connecticut-based submarine builder, told WPRI-TV the incident took place around 8 a.m. …
Up to 40% of Losses from Frost Damage at French Vineyards Are Uninsured
Fri, 23 Apr 2021 08:54:13 +0000
PARIS – Frost damage to French vineyards this month could reduce wine production by nearly a third compared with recent years, farm office FranceAgriMer said on Thursday, citing initial estimates from wine producers. The losses, subject to revision as the …
Ex-Deloitte Auditor Faces Disciplinary Action for Improper Audit of S. Africa’s Steinhoff
Fri, 23 Apr 2021 08:36:03 +0000
An ex-Deloitte LLP partner is facing disciplinary action in the Netherlands for an improper audit of Steinhoff International Holdings NV prior to the South African retailer’s near collapse more than three years ago. The Dutch Authority for the Financial Markets …
AM Best Revises Outlooks to Positive for Convex Group’s Subsidiaries
Fri, 23 Apr 2021 07:58:37 +0000
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of Convex Insurance UK Ltd. and Convex Re Ltd. Both entities are wholly …
Pennsylvania Moves Closer to Allowing Lawsuits by Child Sex Abuse Victims
Fri, 23 Apr 2021 06:57:06 +0000
For the first time, prominent Republican state senators on Wednesday put their support behind legislation in Pennsylvania to change the law to allow now-adult victims of child sexual abuse to sue the perpetrators or institutions that did not prevent it …
Florida House Overwhelmingly Approves Consumer Privacy Bill
Fri, 23 Apr 2021 06:43:19 +0000
The Florida House resoundingly approved a consumer privacy bill on Wednesday, giving the public an opportunity to regain ownership of the personal data collected by companies and the right to sue companies for mishandling information in a marketplace where consumers …
Hackers Publish Florida School District Files After $40M Ransom Unpaid
Fri, 23 Apr 2021 06:37:19 +0000
Hackers who sought $40 million in ransom from a South Florida school district that refused to pay have now published nearly 26,000 stolen files. Many of the files, dated from 2012 to March 2021, contain Broward School District accounting and …
Plaintiff Lawyers Accuse Bayer of ‘Pay to Appeal Scheme’ in Roundup Litigation
Fri, 23 Apr 2021 05:00:54 +0000
Bayer AG’s strategy to get a favorable ruling in its Roundup litigation is a manufactured “pay-to-appeal scheme” that will erode the U.S. system of justice if it’s permitted, plaintiffs’ lawyers said in a letter to a court. Lawyers who are …
New York City Lawsuit Claims Exxon, BP, Shell Mislead Over ‘Cleaner’ Fuels
Fri, 23 Apr 2021 05:00:35 +0000
New York City on Thursday sued three major oil companies and the top industry trade group in state court, arguing that the companies are misrepresenting themselves by selling fuels as “cleaner” and advertising themselves as leaders in fighting climate change. …
‘Suspicious’ Apartment Fire in New York Displaces More Than 20 Residents
Fri, 23 Apr 2021 04:55:00 +0000
Fires at an apartment complex displaced more than 20 people on Sunday night, with authorities saying the blaze was suspicious and appeared to have been started in the recycling bins left on back porches. This is the second fire to …
Suit Pitting Insurers Against Washington Commissioner Getting Heard
Thu, 22 Apr 2021 21:25:09 +0000
A case pitting several insurer groups against Washington Insurance Commissioner Mike Kreidler is set to be heard on Friday morning. The Independent Insurance Agents and Brokers of Washington, the Professional Insurance Agents of Washington and the American Property Casualty Insurance …
Insuring Cannabis Webinar Take Home: Carriers, Brokers Waiting on Sidelines
Thu, 22 Apr 2021 17:25:31 +0000
There may be many more carriers and brokers waiting on the sidelines of the insuring cannabis sector to get in than most may realize. That was among the messages delivered by experts during Insurance Journal’s webinar in mid-April, How Insurance …
South Carolina Gov, Business Groups Push for COVID Liability Protection
Thu, 22 Apr 2021 16:59:34 +0000
South Carolina’s governor is pushing state lawmakers to approve a bill that would prevent people who contract COVID-19 from suing businesses and other groups that have followed federal and state health guidelines. In a letter sent Monday to House members …
Company Asks for Pause in Memphis Oil Pipeline Dispute
Thu, 22 Apr 2021 16:57:06 +0000
A company facing resistance to its plans to build an oil pipeline over an aquifer that provides drinking water to 1 million people has asked for a “mutual pause” in its dispute with city officials in Memphis, Tennessee. Plains All …
New Michigan Rules Target Contractor Payroll Fraud
Thu, 22 Apr 2021 16:52:40 +0000
Michigan Gov. Gretchen Whitmer recently announced changes in the state’s contracting process to ensure construction and other companies are not rewarded with government money for payroll fraud such as misclassifying workers as independent contractors. The move is designed to implement …
Debris Pile Apparent Source of South Dakota Fire that Caused 400 Evacuations
Thu, 22 Apr 2021 16:47:07 +0000
The South Dakota Department of Public Safety says no criminal charges are expected as a result of a large wildfire west of Rapid City. A debris pile is believed to be the source of a fire that burned about 3.5 …
19th U.S. Death Tied to Takata Air Bag Reported in South Carolina
Thu, 22 Apr 2021 16:46:56 +0000
Honda Motor Co said on Wednesday it had confirmed the 19th U.S. death tied to a ruptured Takata air bag inflator since 2009 — and the 16th in one of its vehicles. The Japanese automaker said that following a joint …

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