GEICO to Pay $6 Million to Settle Auto Adjusters’ Claims of Unpaid Overtime Hours
Insurer GEICO has agreed to pay $6 million to settle claims by auto damage claims adjusters who allege the insurer failed to pay them for all hours they worked “off-the-clock.” The settlement affects 806 adjusters countrywide who worked for GEICO …
Delaware Judge Allows Suit Over Police Fatal Shooting of Mentally Ill Woman
A Delaware judge on Tuesday refused to dismiss a lawsuit involving the death of a mentally ill woman who was killed by a state trooper in 2021 after she fired a shotgun at him. Raymond Rooks contends that state police …
$21M to Settle Claims Over Botched Fireworks Detonation in Los Angeles
Los Angeles will pay more than $21 million to settle claims by residents of a neighborhood where police bungled the detonation of a cache of illegal fireworks three years ago, injuring 17 people and displacing dozens of others. The City …
GM to Pay $145.8M Penalty After US Finds Excess Emissions
General Motors will pay a $145.8 million penalty and forfeit credits worth hundreds of millions of dollars after a U.S. government investigation found excess emissions from approximately 5.9 million GM vehicles, government agencies said on Wednesday. The Environmental Protection Agency …
Worsening Floods Pose Threat to U.S. Dam Safety
ST. LOUIS (AP) — Early last week, floodwater in rural Minnesota pushed debris against a more than century-old dam and then carved a path around it, eroding so much of the riverbank that most of a house fell into the …
Kansas School District Was Discriminatory in Discipline: DOJ
TOPEKA, Kan. (AP) — Educators in Kansas’ largest public school district discriminated against Black and disabled students when disciplining them, according to the U.S. Department of Justice, which announced an agreement Tuesday that will have the district revising its policies. …
Judge Tells Louisiana to Protect Incarcerated Workers Toiling in Summer Heat
Amid blistering summer temperatures, a federal judge ordered Louisiana to take steps to protect the health and safety of incarcerated workers toiling in the fields of a former slave plantation, saying they face “substantial risk of injury or death.” The …
OSHA Fines Georgia Sawmill $267,300 After Death of Worker
A Georgia sawmill could have prevented the death of a 24-year-old worker last year if it had followed safety procedures and federal regulations, the U.S. Occupational Safety and Health Administration said in fining the mill $267,300. “We learned that Thompson …
Weather Damaged F-35s Parked in Texas May Cost Pentagon Millions
US taxpayers could be on the hook for millions of dollars in repairs if F-35 fighter jets suffer major weather damage while waiting on a Texas tarmac for a long-delayed software upgrade, according to the Pentagon’s contracts oversight agency. The …
OpenAI’s Internal AI Details Stolen in 2023 Breach, NYT Reports
A hacker gained access to the internal messaging systems at OpenAI last year and stole details about the design of the company’s artificial intelligence technologies, the New York Times reported on Thursday. The hacker lifted details from discussions in an …
Cooper Signs Retention Groups, Vaping, Work Zone Safety Bills in North Carolina
RALEIGH, N.C. (AP) — North Carolina Gov. Roy Cooper signed four bills Wednesday that include the creation of a new registry for vaping products and a slew of changes related to transportation laws and the state DMV. Cooper also vetoed …
Q2 2024 Personal Insurance Rates Up 7.6%: MarketScout
The average rate increase for U.S. personal lines coverages was about 7.6% in the second quarter, up from about 4.8% for the first three months of the year, according to MarketScout. Dallas-based MarketScout, a division of Novatae Risk Group, said …
Progressive to Pay $48M to New York Drivers Over Underpaid Total Loss Claims
Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles. The $48 million represents approximately 54% of the compensatory damages alleged …
Insurers Fret Over Risk of Militant Attacks, AI Hacks at Paris Olympics
Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the …
Labour Win Brings Few Hopes or Fears to London’s Financial District
Labour’s landslide election win shows few signs of unsettling London’s financial heartland after the party’s lengthy pro-business overtures, though many in finance remain wary they could be targeted to prop up Britain’s stretched public finances further down the line. Under …
Houthi Threat Triggers Surge in Pirate Attacks Off Somalia Coast
Attacks by Iran-backed Houthi militants on the Red Sea have reinvigorated piracy networks in Somalia, with criminal groups growing in both number and force, a European naval commander said. The Yemen-based Houthis began attacking vessels in the Red Sea last …
Abandoned Tanker Lavant Has Likely Sunk Off Yemen, Sources Say
An abandoned tanker that was drifting off Yemen’s coast in June has disappeared and is believed to have sunk, three navy and security sources said, the latest vessel lost in the strategically important Red Sea. The area, on the main …
Switzerland, EU Restart Financial Market Talks After Long Hiatus
Switzerland and the European Union resumed talks on financial market regulation on Thursday after dialog was suspended in 2017, the Swiss government said. Issues relating to financial market stability, cross-border activities, capital markets, digital finance, cybersecurity, sustainable finance and insurance …
Banks to Publish Crypto Asset Exposure From 2026, Global Regulators Say
Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday [July 3], a year later than originally indicated. “These disclosures aim to enhance information availability and support market …
Update: Beryl Rakes Mexico’s Yucatan With Hurricane Winds and Heavy Rain
Hurricane Beryl pummeled Mexico’s Yucatan Peninsula with tree-toppling gusts and flooding rains, weakening slightly as it came ashore after leaving a trail of destruction through the Caribbean this week. Beryl’s top winds dropped to 100 miles (160 kilometers) per hour …
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