US Banning Drone Flights Over New Jersey Utility Transmission Sites
The Federal Aviation Administration on Thursday said it was temporarily barring drone flights over 22 utility locations in New Jersey amid public concern. The FAA said the decision to bar drones for 30 days at the sites was made in …
Car Crashes in Foggy Weather Injure 33 People Near New Orleans
NEW ORLEANS (AP) — Several people were injured Tuesday morning after foggy conditions contributed to several car crashes that forced the closure of the 24-mile-long (38.6-kilometer-long) bridge connecting the north and south shores of southeast Louisiana’s Lake Pontchartrain. By early …
Texas Property Management Companies Pay $55K in Disability Discrimination Suit
Texas property management companies Castle Hills Master Association Inc., Bright Realty LLC, Bright Industries LLC, and Bright Executive Services LLC will pay $55,000 and furnish other relief to settle a disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity …
DARAG Completes Sale of North American and Bermuda Businesses to RiverStone
DARAG Group, the Malta-based legacy acquirer that focuses on the European market, announced it has completed the sale of its North American and Bermuda business entities to the RiverStone Group, a subsidiary of Fairfax Financial Holdings Ltd. Financial details of …
Denmark Warns That Russia May Send Warships to Escort Oil Tankers
Denmark warned that Russia’s navy may start escorting the so-called shadow fleet tankers through Danish straits to escalate provocations against NATO countries. Threats against Denmark have become “more serious,” and Russia now has more options to challenge North Atlantic Treaty …
People Moves: Generali Global Corporate & Commercial Taps Allianz’s Moro as Head of Cyber Insurance; Miller Bolsters Asia Power Team, Appointing Howden’s McGonagle
This edition of International People Moves details appointments at Generali Global Corporate & Commercial (GC&C) and the broker Miller. A summary of these new hires follows here. Generali Global Corporate & Commercial Taps Allianz’s Moro as Head of Cyber Insurance …
W. R. Berkley Launches Branch Office in India
W. R. Berkley Corp., the Greenwich, Connecticut-based insurer, announced that Berkley Insurance Co. has received regulatory approval to launch a branch office in India. The new branch, Berkley Insurance Co., IFSC Branch GIFT City, Gujarat, marks a significant milestone for …
NHTSA to Extend Airbag Probe Rather Than Require Vehicle Recall
The National Highway Traffic Safety Administration said on Wednesday it will not seek an immediate recall of airbag inflators in about 50 million U.S. vehicles assembled by 13 automakers and instead will conduct further investigation. The agency said in July …
Third Circuit Finds Pennsylvania’s JUA — and Its Surplus— Are Public, Not Private
Pennsylvania’s facility that insures high risk medical professionals is a public agency, not a private entity, the Third Circuit Court of Appeals recently ruled. The ruling by a three-judge panel opens the door for the state to access the Pennsylvania …
Senate Says Climate Is Causing Insurance ‘Crisis’; Industry Strikes Back
The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry clapped back by saying extreme weather is just part of …
European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields
European insurers are approaching the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with falling yields and moderating premium …
Viewpoint: Strategies for Brokers as M&A Slows and Insurance Rates Soften
The brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in recent years. High interest rates, historical valuations, and tighter access to capital have slowed M&A activity, with deal flow declining …
Donald Trump Sues Iowa Newspaper Over Pre-Election Poll
President-elect Donald Trump sued the Des Moines Register and its pollster for “brazen election interference” in publishing a survey the weekend before the election that showed Democrat Kamala Harris with a surprising lead of three percentage points in the state. …
Can China Shield the Biggest Uninsured Economy From Floods?
The rivers and canals that meander through Hemudu in southeastern China are a vital source of life and community — they provide income for fishermen, an after-school hangout spot for kids, and define the town’s landscape. But when it rains, …
Texas Economy Will Top France’s Thanks to Trump, Abbott Says
Texas Governor Greg Abbott has a new ambition for the Lone Star State: surpassing France as one of the world’s largest economies. Abbott predicted that economic output in Texas would soon exceed that of the struggling European nation thanks to …
Texas Reports 252 New Cases of Groundwater Contamination
Texas agencies reported 252 new cases of groundwater contamination during 2023 in the Texas Groundwater Protection Committee annual report. The latest report compiles 2,870 open cases of groundwater contamination, some of which date back decades. Nearly every county in Texas …
Ardonagh Reaches $14 Billion Valuation With Stone Point Investment
Ardonagh Group has secured new investment from Stone Point Capital, almost doubling the valuation of the UK insurance broker to $14 billion in three years, according to people familiar with the matter. The deal will see Greenwich, Connecticut-based Stone Point …
Jury Awards $80M to Family of Chicago Girl Killed During Police Chase
CHICAGO (AP) — A jury awarded nearly $80 million to the family of a 10-year-old Chicago girl who was killed during a police chase and crash in 2020. The city had acknowledged liability in the death of Da’Karia Spicer. The …
Biden’s LNG-Export Study Presents ‘Speed Bump’ for Trump
The Biden administration released a key study Tuesday that is likely to complicate President-elect Donald Trump’s plans to quickly approve more exports of liquefied natural gas. The study, which analyzed the economic, environmental and other costs of such shipments, found …
Can Comp-Exempt Sub Owner Sue Contractor for Work Injury? Miss. Court Says ‘No’
It’s a question that has cropped up in state courts only on rare occasions: If the owner or officer of a subcontractor firm opts out of workers’ compensation coverage for himself, can he then sue the general contractor for negligence …